Co-Diagnostics (CODX +35.7%) jumps on more than a 7x surge in volume in response to its announcement of
sales of its newly developed test for 2019-nCoV, the coronavirus
causing the current outbreak, still largely confined to China. It says
the order calls for the delivery of tests for various international
markets and, most importantly, included payment for the initial shipment
of product.
https://seekingalpha.com/news/3540187-co-diagnostics-up-36-on-coronavirus-test-sales
Monday, February 10, 2020
DaVita HealthCare Partners EPS beats by $0.26, misses on revenue
DaVita HealthCare Partners (NYSE:DVA): Q4 GAAP EPS of $1.86 beats by $0.26.
Revenue of $2.9B (+2.8% Y/Y) misses by $20M.
Shares +2.72%.
https://seekingalpha.com/news/3540200-davita-healthcare-partners-eps-beats-0_26-misses-on-revenue
Coronavirus continues to spread, still largely restricted to Hubei province
The latest figures
for the coronavirus outbreak are 40,171 reported infections with 908
deaths, almost all still confined to Wuhan and the surrounding Hubei
province in China.
There have been two fatalities outside of China, one in Hong Kong and one in the Philippines.
To keep the breakout in perspective, the population of Wuhan is 11M and the population of Hubei province is 59M.
https://seekingalpha.com/news/3540190-coronavirus-outbreak-continues-to-spread-still-largely-restricted-to-hubei-provinceWeWork temporarily closes 100 buildings in China over coronavirus
Office sharing startup WeWork has temporarily closed 100 buildings in
China due to the coronavirus outbreak, Chairman Marcelo Claure said in a
CNBC interview on Monday.
Claure said no members and employees have been infected in the recent outbreak.
The death toll from the epidemic rose to 908, all but two in mainland China, on Sunday, with total infections at 40,171.
Claure also disputed reports that WeWork founder Adam Neumann walked
away with a $1.7-billion payout to relinquish control of the company he
founded in 2010.
“There’s a tender going on right now in which Adam will have the right to participate with shareholders,” Claure, a top SoftBank executive, said.
SoftBank Group Corp said in October it would launch a $9.5-billion bailout of WeWork following the cancellation of the startup’s initial public offering due to investor concerns over its corporate governance.
The bailout included a $3-billion tender offer of WeWork shares,
including up to $970 million owned by Neumann. The tender offer is
expected to be completed soon.
“He’s (Neumann) a large shareholder of the company, he was a founder, and as we do a tender to buy shares from other shareholders, he’s going to have the same opportunity as any other shareholder,” said Claure.
He reiterated that WeWork aims to be profitable in 2021.
https://www.reuters.com/article/us-china-health-wework/wework-temporarily-closes-100-buildings-in-china-over-coronavirus-cnbc-idUSKBN2041ME
Claure said no members and employees have been infected in the recent outbreak.
The death toll from the epidemic rose to 908, all but two in mainland China, on Sunday, with total infections at 40,171.
“There’s a tender going on right now in which Adam will have the right to participate with shareholders,” Claure, a top SoftBank executive, said.
SoftBank Group Corp said in October it would launch a $9.5-billion bailout of WeWork following the cancellation of the startup’s initial public offering due to investor concerns over its corporate governance.
“He’s (Neumann) a large shareholder of the company, he was a founder, and as we do a tender to buy shares from other shareholders, he’s going to have the same opportunity as any other shareholder,” said Claure.
He reiterated that WeWork aims to be profitable in 2021.
https://www.reuters.com/article/us-china-health-wework/wework-temporarily-closes-100-buildings-in-china-over-coronavirus-cnbc-idUSKBN2041ME
China’s Wuhan aims to test all suspected cases of coronavirus by tomorrow
China’s Wuhan city, the epicentre of the coronavirus outbreak, has
not been able to confirm all existing suspected cases of the coronavirus
despite a rush to speed up testing, the city’s Communist Party
Secretary told a news conference on Monday.
Ma Guoqiang said the Wuhan government would, however, aim to test all suspected cases by Tuesday. There have been growing complaints that many patients in the city of 11 million have not been tested or admitted for full-time treatment due to the pressure on medical resources.
Ma added that 1,499 patients in critical conditions who were not admitted for treatment before Feb. 8 have now been hospitalised.
https://www.reuters.com/article/us-china-health-testing/chinas-wuhan-aims-to-test-all-suspected-cases-of-coronavirus-by-tomorrow-idUSKBN2041LO
Ma Guoqiang said the Wuhan government would, however, aim to test all suspected cases by Tuesday. There have been growing complaints that many patients in the city of 11 million have not been tested or admitted for full-time treatment due to the pressure on medical resources.
Ma added that 1,499 patients in critical conditions who were not admitted for treatment before Feb. 8 have now been hospitalised.
https://www.reuters.com/article/us-china-health-testing/chinas-wuhan-aims-to-test-all-suspected-cases-of-coronavirus-by-tomorrow-idUSKBN2041LO
Coronavirus cases outside China ‘could be spark’ for bigger fire — WHO
The World Health Organization said on Monday the spread of
coronavirus cases among people who have not been to China could be “the
spark that becomes a bigger fire” and the human race must not let the
epidemic get out of control.
As of 0500 GMT on Monday, there had been 40,235 confirmed cases
reported in China and 909 deaths, as well as 319 cases in 24 other
countries, including one death, WHO chief Tedros Adhanom Ghebreyesus
said.
The death toll from the epidemic had jumped by 97 on Sunday – the largest number in a single day since the virus was detected in the Chinese city of Wuhan in December.
The Diamond Princess cruise ship with 3,700 passengers and crew on board remained quarantined in the Japanese port of Yokohama, with 65 more cases detected, taking the number of confirmed case from the Carnival Corp-owned (CCL.N) vessel to 135.
In Europe, shares in car companies .SXAP exposed to China slumped, while prices of oil, iron ore and copper fell on worries over weaker Chinese demand because of the outbreak.
British Airways canceled all its flights to mainland China until the end of March.
Across mainland China, where people were trickling back to work after an extended Lunar New Year holiday, 3,062 new infections were confirmed on Sunday, according to the National Health Commission.
Wu Fan, vice-dean of Shanghai Fudan University Medical school, said there was hope of a turning point in the outbreak. But Ghebreyesus said there had been “concerning instances” of transmission from people who had not been to China.
“It could be the spark that becomes a bigger fire,” Ghebreyesus told reporters in Geneva. “But for now it is only a spark. Our objective remains containment. Graphic: Comparing new coronavirus to SARS and MERS – here
“We should really fight hard as one human race to fight this virus before it gets out of control,” he said.
An advance team of international WHO experts arrived in China to investigate.
“This mission brings together the best of Chinese science, Chinese public health with the best of the world’s public health”, the WHO’s Mike Ryan said.
The death toll from the outbreak has now surpassed that of Severe Acute Respiratory Syndrome (SARS), which killed hundreds worldwide in 2002/2003.
Ten extra days had been added to the Lunar New Year holidays that had been due to finish at the end of January. But even on Monday, many workplaces remained closed as people worked from home.
Few commuters braved the morning rush-hour on one of Beijing’s busiest subway lines. All wore masks.
One Beijing government official, Zhang Gewho, said it would be harder to curb the spread of the virus as people returned to work.
“The capacity of communities and flow of people will greatly increase and the difficulty,” he said.
Hubei, the province of 60 million people that is the hardest hit by the outbreak, remains in virtual lockdown, with its train stations and airports shut and roads sealed.
In Britain, the government said the number of confirmed coronavirus cases there had doubled to eight. It declared the virus a serious and imminent threat, giving it additional powers to isolate those suspected of being infected.
China’s central bank has taken steps to support the economy, including reducing interest rates and flushing the market with liquidity, and will also now provide special funds for banks to lend to businesses.
President Xi Jinping said the government would prevent large-scale layoffs, Chinese state television reported.
Xi was shown on television inspecting the work of community leaders in Beijing and wearing a mask as he had his temperature taken. He said China would strive to meet economic and social targets for the year.
One senior economist has said growth may slow to 5% or less in the first quarter.
More than 300 Chinese firms including Meituan Dianping (3690.HK), China’s largest food delivery company, and smartphone maker Xiaomi Corp (1810.HK) were seeking loans totaling at least 57.4 billion yuan ($8.2 billion), banking sources said.
E-commerce firm Alibaba (BABA.N) said its affiliate, Ant Financial’s MYBank unit, would offer 20 billion yuan ($2.86 billion) in loans to companies in China, with preferential terms for Hubei firms.
Apple’s biggest iPhone maker, Foxconn, won approval to resume production in the eastern central Chinese city of Zhengzhou, but only 10% of the workforce managed to return, a source said. It won approval to resume partial production in the southern city of Shenzhen from Tuesday.
A prolonged and widespread coronavirus outbreak could hit the Japanese economy, affecting tourism, retail and exports, an International Monetary Fund official said. Canada said the outbreak will hit tourism and the oil industry.
https://www.reuters.com/article/us-china-health/coronavirus-cases-outside-china-could-be-spark-for-bigger-fire-who-says-idUSKBN20402G
The death toll from the epidemic had jumped by 97 on Sunday – the largest number in a single day since the virus was detected in the Chinese city of Wuhan in December.
The Diamond Princess cruise ship with 3,700 passengers and crew on board remained quarantined in the Japanese port of Yokohama, with 65 more cases detected, taking the number of confirmed case from the Carnival Corp-owned (CCL.N) vessel to 135.
In Europe, shares in car companies .SXAP exposed to China slumped, while prices of oil, iron ore and copper fell on worries over weaker Chinese demand because of the outbreak.
British Airways canceled all its flights to mainland China until the end of March.
Across mainland China, where people were trickling back to work after an extended Lunar New Year holiday, 3,062 new infections were confirmed on Sunday, according to the National Health Commission.
Wu Fan, vice-dean of Shanghai Fudan University Medical school, said there was hope of a turning point in the outbreak. But Ghebreyesus said there had been “concerning instances” of transmission from people who had not been to China.
“It could be the spark that becomes a bigger fire,” Ghebreyesus told reporters in Geneva. “But for now it is only a spark. Our objective remains containment. Graphic: Comparing new coronavirus to SARS and MERS – here
“We should really fight hard as one human race to fight this virus before it gets out of control,” he said.
“This mission brings together the best of Chinese science, Chinese public health with the best of the world’s public health”, the WHO’s Mike Ryan said.
The death toll from the outbreak has now surpassed that of Severe Acute Respiratory Syndrome (SARS), which killed hundreds worldwide in 2002/2003.
NERVOUS COMMUTERS
Chinese cities have become virtual ghost towns after Communist Party rulers ordered lockdowns, canceled flights and closed factories and schools.Ten extra days had been added to the Lunar New Year holidays that had been due to finish at the end of January. But even on Monday, many workplaces remained closed as people worked from home.
Few commuters braved the morning rush-hour on one of Beijing’s busiest subway lines. All wore masks.
One Beijing government official, Zhang Gewho, said it would be harder to curb the spread of the virus as people returned to work.
Slideshow (18 Images)
Hubei, the province of 60 million people that is the hardest hit by the outbreak, remains in virtual lockdown, with its train stations and airports shut and roads sealed.
In Britain, the government said the number of confirmed coronavirus cases there had doubled to eight. It declared the virus a serious and imminent threat, giving it additional powers to isolate those suspected of being infected.
China’s central bank has taken steps to support the economy, including reducing interest rates and flushing the market with liquidity, and will also now provide special funds for banks to lend to businesses.
President Xi Jinping said the government would prevent large-scale layoffs, Chinese state television reported.
Xi was shown on television inspecting the work of community leaders in Beijing and wearing a mask as he had his temperature taken. He said China would strive to meet economic and social targets for the year.
One senior economist has said growth may slow to 5% or less in the first quarter.
More than 300 Chinese firms including Meituan Dianping (3690.HK), China’s largest food delivery company, and smartphone maker Xiaomi Corp (1810.HK) were seeking loans totaling at least 57.4 billion yuan ($8.2 billion), banking sources said.
E-commerce firm Alibaba (BABA.N) said its affiliate, Ant Financial’s MYBank unit, would offer 20 billion yuan ($2.86 billion) in loans to companies in China, with preferential terms for Hubei firms.
Apple’s biggest iPhone maker, Foxconn, won approval to resume production in the eastern central Chinese city of Zhengzhou, but only 10% of the workforce managed to return, a source said. It won approval to resume partial production in the southern city of Shenzhen from Tuesday.
A prolonged and widespread coronavirus outbreak could hit the Japanese economy, affecting tourism, retail and exports, an International Monetary Fund official said. Canada said the outbreak will hit tourism and the oil industry.
https://www.reuters.com/article/us-china-health/coronavirus-cases-outside-china-could-be-spark-for-bigger-fire-who-says-idUSKBN20402G
Eagle Pharma nabs final FDA nod for Pemfexy
The FDA has granted final approval to Eagle Pharmaceuticals’ (EGRX -0.4%) Pemfexy (pemetrexed for injection), its branded alternative to Eli Lilly’s (LLY -2.2%) Alimta.
The agency granted tentative approval in October 2017 pending the resolution of patent issues.
https://seekingalpha.com/news/3540074-eagle-pharma-nabs-final-fda-nod-for-pemfexy
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