Shares of Bed Bath & Beyond tumbled after the retailer reported disappointing sales numbers Tuesday evening, leading Wall Street to believe a true turnaround is going to take more time than initially anticipated.
The global air cargo industry is unlikely to grow this year because of the challenges in the China market due to the coronavirus, a senior executive at Boeing said on Wednesday.
"We think it's reasonable to expect industry-wide delays in terms of delivery around the world — including potentially missed shipment[s] and service windows," CEO Patrik Frisk says.
XPO Logistics will continue to consider a sale and or spinoff of its business units after reporting a beat on earnings and a miss on revenues on Monday.
Megacap tech names have posted strong results, but cyclical companies with global exposure are seeing estimates decreased amid the coronavirus outbreak.
Canada Goose Holdings Inc said on Friday lower store traffic in China and travel restrictions due to the coronavirus epidemic would impact its revenue and lead to a smaller profit in 2020, sending its shares down 4%.
Coach handbag maker Tapestry Inc cut its annual profit forecast on Thursday, citing an up to $250 million hit to sales from the coronavirus outbreak that has forced it to close a majority of its stores in mainland China.
Fiat Chrysler posted a 7% rise in fourth-quarter profit on Thursday, boosted by strong business in North America and better results in Latin America as it heads into a merger with France's PSA.