The market looks like it's finally correcting, and all it took was the Coronavirus to trigger the emotional pullout. I will be watching closely and dumping money in hopefully soon.
~~~~~~~~~~
03/12/2020
9:35 a.m. ET: S&P 500 drops 7%, triggering halt (another fucking one... No bueno.)
The S&P 500 sank 7% in the minutes after market open, setting off a market-wide “circuit-breaker” to prevent immediate further losses.
Trading will resume in 15 minutes following the halt.
During the regular trading session, the threshold of declines to trigger circuit breakers is as follows, according to the New York Stock Exchange:
9:31 a.m. ET: Stocks sink more than 6% as markets open (here we go again)
The three major indices each slumped more than 6% as the opening bell rang on Wall Street, ushering in another crushing session.
Here were the main moves in markets, as of 9:32 a.m. ET:
9:09 a.m. ET: Apache slashes dividend, capital spending as oil prices slide
Apache Corp. (APA) said Thursday it will cut its dividend and capital spending plans for the year in the wake of a precipitous decline in crude oil prices.
Shares of Apache, which had been down 60% from Friday’s through Wednesday’s close, tumbled another 15% in early trading following the announcement.
Apache’s dividend reduction brought the payout down by 90% to 2.5 cents per share each quarter, from 25 cents previously. The energy company also said it would reduce its 2020 capital investment plan to a range of $1.0 billion to $1.2 billion, down from a previous range of between $1.6 billion and $1.9 billion. Apache’s number of drill rigs operated in the Permian Basin will be cut to zero.
The move mirrors that of other U.S. shale producers earlier this week, which have been frantically updating their investment and dividend payout plans this week to cope with the stunning plunge in oil prices earlier this week. Peer energy giant Occidental Petroleum Corp. (OXY) on Tuesday had slashed its own dividend by nearly 90%, and cut its capital spending plans by as much as 35% for the year.
“We are significantly reducing our planned rig count and well completions for the remainder of the year, and our capital spending plan will remain flexible based on market conditions,” Apache CEO John Christmann said in a statement. “We are also further reducing operating and overhead costs as we continue to implement our corporate redesign program, which began in the fall of 2019. These decisive actions will benefit Apache as we navigate these challenging market conditions.”
—
9:03 a.m. ET: Carnival halts Princess Cruises for 60 days amid coronavirus
Princess Cruises, owned by parent company Carnival (CCL), will temporarily pause global operations of its 18 cruise ships for 60 days, or from March 12 to May 10, the company said in a statement Thursday.
Shares of Carnival were halted in early trading ahead of the announcement. The stock tumbled 23% after shares reopened for trading, putting it on pace for its lowest price since 2009.
"Princess Cruises is a global vacation company that serves more than 50,000 guests daily from 70 countries as part of our diverse business, and it is widely known that we have been managing the implications of COVID-19 on two continents," Jan Swartz, president of Princess Cruises, said in a statement.
"By taking this bold action of voluntarily pausing the operations of our ships, it is our intention to reassure our loyal guests, team members and global stakeholders of our commitment to the health, safety and well-being of all who sail with us, as well as those who do business with us, and the countries and communities we visit around the world," he added.
—
8:30 a.m. ET: Initial jobless claims unexpectedly declined last week
New unemployment claims posted a surprise drop for the week ended March 7, suggesting the domestic labor market had yet to feel the impact from the COVID-19 outbreak.
Initial jobless claims fell to a seasonally adjusted 211,000 last week, below the 220,000 expected. The prior week’s new unemployment claims had totaled 215,000.
Continuing unemployment claims also unexpectedly fell for the week ended February 29, dropping to 1.722 million from 1.733 million the prior week.
—
8:30 a.m. ET: Producer prices sink by the most since 2015 in February, as energy prices slide
Producer prices fell by the most in five years in February, reversing a January surge, the Bureau of Labor Statistics said Thursday in its monthly report.
The headline producer price index (PPI) tumbled 0.6% in February over last month, well below the decline of 0.1% expected. PPI rose by 0.5% in January. This was the deepest plunge since January 2015.
The decrease was led by a drop in prices for final demand goods, with energy prices the biggest decliner. More than 60% of the monthly drop was attributable to the drop in prices for final demand energy, which fell 3.6%.
Excluding more volatile food and energy prices, producer prices fell 0.3% on a monthly basis in February, after a 0.5% rise in January. PPI excluding food and energy rose just 1.4% over last year in February, pulling back from the 1.7% rise at the start of the year.
—
7:37 a.m. ET: Stock futures trigger circuit-breakers as investors brace for another volatile session
Futures for the S&P 500, Dow and Nasdaq each traded more than 4% lower Thursday morning, after briefly hitting their limit-down levels late Wednesday for a second time in this week.
At the lows of the overnight session, contracts for each of the three major indices dropped some 5%, plunging enough to trigger circuit breakers to prevent further losses. The limit-down level is established each day by the Chicago Mercantile Exchange. The indices’ futures can still trade at or above the limit-down level.
Here were the main moves in markets as of 7:37 a.m. ET:
~~~~~~~~~
03/09/2020
4:06 p.m. ET: Stocks end sharply lower, Dow drops 2,000 points
The three major indices each tumbled more than 7% by the end of Monday’s session, with the Dow off more than 2,000 points.
In the S&P 500, the energy sector remained the laggard, shedding 20% during Monday’s session.
Here were the main moves in markets at the end of regular equity trading:
2:46 p.m. ET: Oil settles lower by 24%, marking biggest one-day decline in almost 30 years
Crude oil prices held onto most of their losses into Monday’s settlement, cementing the commodity’s biggest one-day drop in prices since 1991.
West Texas Intermediate crude oil prices fell by 24.59% to settle at $31.13 per barrel. Brent crude declined 23.9%% to $34.45 per barrel as of 2:38 p.m. ET.
_
2:06 p.m. ET: Losses accelerate, Dow sheds 2,000 points
Declines in the major indices steepened with less than two hours left in the regular trading session. The Dow shed more than 8%, or 2,000 points, while each of the S&P 500 and Nasdaq were off by at least 6.9%.
Here were the main moves in markets, as of 2:07 p.m. ET:
2:05 p.m. ET: Growing number of U.S. universities cancel in-person courses due to COVID-19 outbreak
A rising number of U.S. colleges canceled in-class instruction as the coronavirus outbreak escalates.
On Monday, Fordham University said it would be suspending face-to-face instruction at all of the college’s New York-area campuses, effective as of Monday afternoon. Meanwhile, Princeton University said it would be requiring all lectures and seminars be held virtually beginning March 23.
Columbia University, which had one individual in the community quarantined due to exposure to the virus, said Sunday it would not hold classes Monday or Tuesday and would shift to virtual courses for the rest of the week. In New York, Hofstra University on Long Island and Yeshiva University in Manhattan each announced that classes would be canceled the rest of this week.
Stanford University in California nixed in-person courses for the last two weeks of its winter quarter, after one faculty member tested positive for COVID-19. In Texas, Rice University on Sunday canceled all in-person classes this week.
—
1:53 p.m. ET: White House to invite Wall Street leaders to discuss coronavirus concerns, CNBC reports
The White House is asking to meet with Wall Street executives to discuss the COVID-19 outbreak on Wednesday, according to a CNBC report citing an unnamed administration official. President Donald Trump is set to attend the meeting, the report said.
—
1:40 p.m. ET: Florida advises all individuals who traveled internationally to self-quarantine
The state of Florida issued an announcement Monday encouraging all individuals who traveled internationally to self-quarantine for 14 days following their return to the U.S., regardless of where they traveled.
As of Monday afternoon, 18 cases of COVID-19 had been reported among Florida residents. One hundred and fifteen coronavirus tests in the state are still pending, and another 1,104 people are being monitored, according to the Florida Department of Health.
—
1:08 p.m. ET: Dow drops nearly 1,700 points as sell-off continues
The three major indices held sharply lower Monday afternoon, with each of the S&P 500 and Dow off more than 6%.
Here were the main moves in markets, as of 1:08 p.m. ET:
12:42 p.m. ET: European stocks slump, enter bear market(
)
European shares slid Monday, with Europe’s benchmark STOXX 600 and the U.K.’s FTSE 100 each sinking into bear market territory.
The FTSE 100 fell 7.3% during the session to 5,994.04, sending it 22% below its recent closing high from July 2019. The Stoxx 600 fell 7.4% in its largest one-day decline since October 2008, also entering a bear market at 21.5% below its recent closing high on February 19 this year.
Bear markets are considered a 20% decline from a recent closing high.
—
12:15 p.m. ET: U.S. Department of Justice warns against coronavirus price gouging (This is great lol. Capitalism is great but has its flaws.)
The U.S. Justice Department said Monday that companies or individuals participating in price-fixing or bid-rigging for personal health protection products like face masks and sterile gloves could face prosecution. These items have become highly in demand amid the COVID-19 outbreak.
“The Department of Justice stands ready to make sure that bad actors do not take advantage of emergency response efforts, healthcare providers, or the American people during this crucial time,” Attorney General William P. Barr said in a statement.
The announcement comes as individual companies have taken actions to try and stem price gouging on their platforms and beyond. Facebook banned ads for medical face masks, along with ads that implied limited supply for medical products, to help quell elevated consumer concerns surrounding the outbreak. Amazon last week removed hundreds of thousands of high-priced offers for personal medical items on its site.
__
10:15 a.m. ET: That bull market sure was fun while it lasted (More exaggeration that's only going to scare people into continuing to sell.)
Ironically enough, Monday marks the 11th anniversary of the closing low on the S&P 500 Index. That nadir kicked off the current bull market that became the longest bull market in history. Of course with the coronavirus panic, major benchmarks are now closer to hitting a bear market.
Here are the levels at which major indices would need to close in order to be considered in bear market territory. That means stocks need a 20% retreat from their recent closing highs (hit just last month, which now seems like a lifetime ago):
Dow 23,641.13
S&P 500 2708.92
Nas 100 7774.98
Nas Comp 7853.74
Russell 2K 1392.60
__
9:49 a.m. ET: S&P 500 trading resumes, index drops another 7.2% (Still sinking fast)
The S&P 500 extended losses after reopening following a 15 minute halt for trading. The index slid about 7.2%, or more than 200 points.
—
9:41 a.m. ET: Crude oil drops further, sinking 20%
U.S. West Texas Intermediate crude oil prices sank 20% Monday morning shortly after domestic equities opened for trading, hitting $32.73 per barrel. Brent crude oil, the international benchmark, fell 22% to $35.26 per barrel.
—
9:34 a.m. ET: Stocks trigger circuit breaker, trading to close for 15 minutes (This is never a good sign lol.)
The S&P 500 sank 7% as of 9:34 a.m. ET, hitting the percent decline required to trigger a 15 minute halt to trading intended to prevent extreme plunges in stock trading. Trading will resume at 9:49 a.m. ET.
This was the first circuit breaker since December 2008 during the financial crisis, according to Bloomberg data.
—
9:32 a.m. ET: Stocks slump as markets open
Stocks opened sharply lower Monday morning. The Dow and Nasdaq tumbled more than 7% each (This is huge for pre market activity), and the S&P 500 was off more than 6.9%.
Here were the main moves in markets, as of 9:32 ET:
9:20 a.m. ET: Credit Suisse cuts S&P 500 year-end price target as coronavirus outbreak weighs on corporate profits
Credit Suisse analyst Jonathan Golub on Monday slashed his 2020 price target for the S&P 500 to 3,300 from 3,600, with the new target representing 11% upside from Friday’s closing prices. Growth in earnings per share this year will be “near-zero” this year amid the coronavirus outbreak, he said.
~~~~~~~~~~
03/12/2020
9:35 a.m. ET: S&P 500 drops 7%, triggering halt (another fucking one... No bueno.)
The S&P 500 sank 7% in the minutes after market open, setting off a market-wide “circuit-breaker” to prevent immediate further losses.
Trading will resume in 15 minutes following the halt.
During the regular trading session, the threshold of declines to trigger circuit breakers is as follows, according to the New York Stock Exchange:
- Trading halts for 15 minutes if the S&P 500 drops 7% against closing prices the prior session
- Trading halts for 15 minutes if the S&P 500 drops 13%
- Trading halts for the rest of the session if the S&P 500 drops 20%
9:31 a.m. ET: Stocks sink more than 6% as markets open (here we go again)
The three major indices each slumped more than 6% as the opening bell rang on Wall Street, ushering in another crushing session.
Here were the main moves in markets, as of 9:32 a.m. ET:
- S&P 500 (^GSPC): -179.79 (-6.56%) to 2,561.59
- Dow (^DJI): -1,729.21 (-7.34%) to 21,824.01
- Nasdaq (^IXIC): -537.66 (-6.76%) to 7,414.40
- Crude (CL=F): -$2.36 (-7.16%) to $30.62 a barrel
- Gold (GC=F): -$31.50 (-1.92%) to $1,610.80 per ounce
- 10-year Treasury (^TNX): -12.3 bps to yield 0.699%
9:09 a.m. ET: Apache slashes dividend, capital spending as oil prices slide
Apache Corp. (APA) said Thursday it will cut its dividend and capital spending plans for the year in the wake of a precipitous decline in crude oil prices.
Shares of Apache, which had been down 60% from Friday’s through Wednesday’s close, tumbled another 15% in early trading following the announcement.
Apache’s dividend reduction brought the payout down by 90% to 2.5 cents per share each quarter, from 25 cents previously. The energy company also said it would reduce its 2020 capital investment plan to a range of $1.0 billion to $1.2 billion, down from a previous range of between $1.6 billion and $1.9 billion. Apache’s number of drill rigs operated in the Permian Basin will be cut to zero.
The move mirrors that of other U.S. shale producers earlier this week, which have been frantically updating their investment and dividend payout plans this week to cope with the stunning plunge in oil prices earlier this week. Peer energy giant Occidental Petroleum Corp. (OXY) on Tuesday had slashed its own dividend by nearly 90%, and cut its capital spending plans by as much as 35% for the year.
“We are significantly reducing our planned rig count and well completions for the remainder of the year, and our capital spending plan will remain flexible based on market conditions,” Apache CEO John Christmann said in a statement. “We are also further reducing operating and overhead costs as we continue to implement our corporate redesign program, which began in the fall of 2019. These decisive actions will benefit Apache as we navigate these challenging market conditions.”
—
9:03 a.m. ET: Carnival halts Princess Cruises for 60 days amid coronavirus
Princess Cruises, owned by parent company Carnival (CCL), will temporarily pause global operations of its 18 cruise ships for 60 days, or from March 12 to May 10, the company said in a statement Thursday.
Shares of Carnival were halted in early trading ahead of the announcement. The stock tumbled 23% after shares reopened for trading, putting it on pace for its lowest price since 2009.
"Princess Cruises is a global vacation company that serves more than 50,000 guests daily from 70 countries as part of our diverse business, and it is widely known that we have been managing the implications of COVID-19 on two continents," Jan Swartz, president of Princess Cruises, said in a statement.
"By taking this bold action of voluntarily pausing the operations of our ships, it is our intention to reassure our loyal guests, team members and global stakeholders of our commitment to the health, safety and well-being of all who sail with us, as well as those who do business with us, and the countries and communities we visit around the world," he added.
—
8:30 a.m. ET: Initial jobless claims unexpectedly declined last week
New unemployment claims posted a surprise drop for the week ended March 7, suggesting the domestic labor market had yet to feel the impact from the COVID-19 outbreak.
Initial jobless claims fell to a seasonally adjusted 211,000 last week, below the 220,000 expected. The prior week’s new unemployment claims had totaled 215,000.
Continuing unemployment claims also unexpectedly fell for the week ended February 29, dropping to 1.722 million from 1.733 million the prior week.
—
8:30 a.m. ET: Producer prices sink by the most since 2015 in February, as energy prices slide
Producer prices fell by the most in five years in February, reversing a January surge, the Bureau of Labor Statistics said Thursday in its monthly report.
The headline producer price index (PPI) tumbled 0.6% in February over last month, well below the decline of 0.1% expected. PPI rose by 0.5% in January. This was the deepest plunge since January 2015.
The decrease was led by a drop in prices for final demand goods, with energy prices the biggest decliner. More than 60% of the monthly drop was attributable to the drop in prices for final demand energy, which fell 3.6%.
Excluding more volatile food and energy prices, producer prices fell 0.3% on a monthly basis in February, after a 0.5% rise in January. PPI excluding food and energy rose just 1.4% over last year in February, pulling back from the 1.7% rise at the start of the year.
—
7:37 a.m. ET: Stock futures trigger circuit-breakers as investors brace for another volatile session
Futures for the S&P 500, Dow and Nasdaq each traded more than 4% lower Thursday morning, after briefly hitting their limit-down levels late Wednesday for a second time in this week.
At the lows of the overnight session, contracts for each of the three major indices dropped some 5%, plunging enough to trigger circuit breakers to prevent further losses. The limit-down level is established each day by the Chicago Mercantile Exchange. The indices’ futures can still trade at or above the limit-down level.
Here were the main moves in markets as of 7:37 a.m. ET:
~~~~~~~~~
03/09/2020
4:06 p.m. ET: Stocks end sharply lower, Dow drops 2,000 points
The three major indices each tumbled more than 7% by the end of Monday’s session, with the Dow off more than 2,000 points.
In the S&P 500, the energy sector remained the laggard, shedding 20% during Monday’s session.
Here were the main moves in markets at the end of regular equity trading:
- S&P 500 (^GSPC): 2,746.70, down 225.67 or -7.59%
- Dow (^DJI): 23,851.02, down 2,013.76 or -7.79%
- Nasdaq (^IXIC): 7,950.68, down 624.94 or -7.29%
- 10-year Treasury (^TNX): yielding 0.589%, or down 11.8 basis points
2:46 p.m. ET: Oil settles lower by 24%, marking biggest one-day decline in almost 30 years
Crude oil prices held onto most of their losses into Monday’s settlement, cementing the commodity’s biggest one-day drop in prices since 1991.
West Texas Intermediate crude oil prices fell by 24.59% to settle at $31.13 per barrel. Brent crude declined 23.9%% to $34.45 per barrel as of 2:38 p.m. ET.
_
2:06 p.m. ET: Losses accelerate, Dow sheds 2,000 points
Declines in the major indices steepened with less than two hours left in the regular trading session. The Dow shed more than 8%, or 2,000 points, while each of the S&P 500 and Nasdaq were off by at least 6.9%.
Here were the main moves in markets, as of 2:07 p.m. ET:
- S&P 500 (^GSPC): 2,742.03, down 230.03 or -7.75%
- Dow (^DJI): 23,777.23, down 2,087.55 or -8.07%
- Nasdaq (^IXIC): 7,999.29, down 575.99 or -6.7%
- Crude oil (CL=F): $32.52, down $8.76 or -21.22%
- 10-year Treasury (^TNX): yielding 0.496%, or down 21.1 basis points
2:05 p.m. ET: Growing number of U.S. universities cancel in-person courses due to COVID-19 outbreak
A rising number of U.S. colleges canceled in-class instruction as the coronavirus outbreak escalates.
On Monday, Fordham University said it would be suspending face-to-face instruction at all of the college’s New York-area campuses, effective as of Monday afternoon. Meanwhile, Princeton University said it would be requiring all lectures and seminars be held virtually beginning March 23.
Columbia University, which had one individual in the community quarantined due to exposure to the virus, said Sunday it would not hold classes Monday or Tuesday and would shift to virtual courses for the rest of the week. In New York, Hofstra University on Long Island and Yeshiva University in Manhattan each announced that classes would be canceled the rest of this week.
Stanford University in California nixed in-person courses for the last two weeks of its winter quarter, after one faculty member tested positive for COVID-19. In Texas, Rice University on Sunday canceled all in-person classes this week.
—
1:53 p.m. ET: White House to invite Wall Street leaders to discuss coronavirus concerns, CNBC reports
The White House is asking to meet with Wall Street executives to discuss the COVID-19 outbreak on Wednesday, according to a CNBC report citing an unnamed administration official. President Donald Trump is set to attend the meeting, the report said.
—
1:40 p.m. ET: Florida advises all individuals who traveled internationally to self-quarantine
The state of Florida issued an announcement Monday encouraging all individuals who traveled internationally to self-quarantine for 14 days following their return to the U.S., regardless of where they traveled.
As of Monday afternoon, 18 cases of COVID-19 had been reported among Florida residents. One hundred and fifteen coronavirus tests in the state are still pending, and another 1,104 people are being monitored, according to the Florida Department of Health.
—
1:08 p.m. ET: Dow drops nearly 1,700 points as sell-off continues
The three major indices held sharply lower Monday afternoon, with each of the S&P 500 and Dow off more than 6%.
Here were the main moves in markets, as of 1:08 p.m. ET:
- S&P 500 (^GSPC): 2,787.99, down 184.38 or -6.2%
- Dow (^DJI): 24,186.3, down 1,678.48 or -6.49%
- Nasdaq (^IXIC): 8,106.7, down 467.45 or -5.42%
- Crude oil (CL=F): $33.42, down $7.86 or -19.04%
- 10-year Treasury (^TNX): yielding 0.513%, or down 19.4 basis points
12:42 p.m. ET: European stocks slump, enter bear market(
)European shares slid Monday, with Europe’s benchmark STOXX 600 and the U.K.’s FTSE 100 each sinking into bear market territory.
The FTSE 100 fell 7.3% during the session to 5,994.04, sending it 22% below its recent closing high from July 2019. The Stoxx 600 fell 7.4% in its largest one-day decline since October 2008, also entering a bear market at 21.5% below its recent closing high on February 19 this year.
Bear markets are considered a 20% decline from a recent closing high.
—
12:15 p.m. ET: U.S. Department of Justice warns against coronavirus price gouging (This is great lol. Capitalism is great but has its flaws.)
The U.S. Justice Department said Monday that companies or individuals participating in price-fixing or bid-rigging for personal health protection products like face masks and sterile gloves could face prosecution. These items have become highly in demand amid the COVID-19 outbreak.
“The Department of Justice stands ready to make sure that bad actors do not take advantage of emergency response efforts, healthcare providers, or the American people during this crucial time,” Attorney General William P. Barr said in a statement.
The announcement comes as individual companies have taken actions to try and stem price gouging on their platforms and beyond. Facebook banned ads for medical face masks, along with ads that implied limited supply for medical products, to help quell elevated consumer concerns surrounding the outbreak. Amazon last week removed hundreds of thousands of high-priced offers for personal medical items on its site.
__
10:15 a.m. ET: That bull market sure was fun while it lasted (More exaggeration that's only going to scare people into continuing to sell.)
Ironically enough, Monday marks the 11th anniversary of the closing low on the S&P 500 Index. That nadir kicked off the current bull market that became the longest bull market in history. Of course with the coronavirus panic, major benchmarks are now closer to hitting a bear market.
Here are the levels at which major indices would need to close in order to be considered in bear market territory. That means stocks need a 20% retreat from their recent closing highs (hit just last month, which now seems like a lifetime ago):
Dow 23,641.13
S&P 500 2708.92
Nas 100 7774.98
Nas Comp 7853.74
Russell 2K 1392.60
__
9:49 a.m. ET: S&P 500 trading resumes, index drops another 7.2% (Still sinking fast)
The S&P 500 extended losses after reopening following a 15 minute halt for trading. The index slid about 7.2%, or more than 200 points.
—
9:41 a.m. ET: Crude oil drops further, sinking 20%
U.S. West Texas Intermediate crude oil prices sank 20% Monday morning shortly after domestic equities opened for trading, hitting $32.73 per barrel. Brent crude oil, the international benchmark, fell 22% to $35.26 per barrel.
—
9:34 a.m. ET: Stocks trigger circuit breaker, trading to close for 15 minutes (This is never a good sign lol.)
The S&P 500 sank 7% as of 9:34 a.m. ET, hitting the percent decline required to trigger a 15 minute halt to trading intended to prevent extreme plunges in stock trading. Trading will resume at 9:49 a.m. ET.
This was the first circuit breaker since December 2008 during the financial crisis, according to Bloomberg data.
—
9:32 a.m. ET: Stocks slump as markets open
Stocks opened sharply lower Monday morning. The Dow and Nasdaq tumbled more than 7% each (This is huge for pre market activity), and the S&P 500 was off more than 6.9%.
Here were the main moves in markets, as of 9:32 ET:
- S&P 500 (^GSPC): 2,765.78, down -206.59 or -6.95%
- Dow (^DJI): 24,035.04, down -1,829.74 or -7.07%
- Nasdaq (^IXIC): 7.971.78, down 603.84 or -7.04%
- Crude oil (CL=F): $32.51, down $8.77 or -21.25%
- 10-year Treasury (^TNX): yielding 0.435%
9:20 a.m. ET: Credit Suisse cuts S&P 500 year-end price target as coronavirus outbreak weighs on corporate profits
Credit Suisse analyst Jonathan Golub on Monday slashed his 2020 price target for the S&P 500 to 3,300 from 3,600, with the new target representing 11% upside from Friday’s closing prices. Growth in earnings per share this year will be “near-zero” this year amid the coronavirus outbreak, he said.
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