|Bid||149.58 x 1100|
|Ask||149.85 x 800|
|Day's range||147.54 - 150.24|
|52-week range||126.10 - 154.50|
|Beta (5Y monthly)||0.71|
|PE ratio (TTM)||26.63|
|Earnings date||13 Apr 2020|
|Forward dividend & yield||3.80 (2.56%)|
|Ex-dividend date||23 Feb 2020|
|1y target est||161.81|
Johnson & Johnson (JNJ) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
AstraZeneca's (AZN) Q4 results were disappointing. European Commission approves Novartis (NVS) and Pfizer's (PFE) new drugs.
Sanofi (SNY) and J&J (JNJ) sign deals with BARDA, part of U.S. Department of Health and Human Services, for accelerated development of a vaccine for the newly found coronavirus.
It looks like Johnson & Johnson (NYSE:JNJ) is about to go ex-dividend in the next 4 days. If you purchase the stock on...
(Bloomberg) -- Warm weather may not slow down the spread of the coronavirus, said a top U.S. health official, counter to a theory put forward by President Donald Trump. U.S. disease experts are still waiting to hear whether they’ll be allowed by China to go to the outbreak’s front lines.Mobile World Congress, the premier mobile-industry conference, was canceled by its organizers over concerns about the spread of the deadly pathogen. In China, President Xi Jinping said the country would meet its economic goals while battling the coronavirus that has now claimed 1,115 lives. U.S. Federal Reserve Chairman Jerome Powell said it would take time to measure the impact of the outbreak.Bloomberg is tracking the outbreak on the terminal and online.Key DevelopmentsChina death toll at 1,113; confirmed China cases at 44,653See a breakdown of virus cases hereVirus-hit firm tells staff: Welcome back, wash your handsJapan reports 39 more cases aboard cruise shipEurope to Step Up Crisis Preparations (3:47 p.m. NY)The European Union is preparing for potential medical shortages and the risk of travel restrictions that could disrupt the bloc’s border-free zone.During an emergency meeting scheduled in Brussels on Thursday, EU health ministers plan to ask the bloc’s executive arm to assess the consequences of global health threats like the coronavirus on the availability of medicine and the security of supply chains, according to a draft of a joint communique seen by Bloomberg. The draft is still subject to changes.The document acknowledges that “measures regarding travel” could be necessary if the situation deteriorates, while ministers will vow to protect the “free movement” of people -- a key pillar of EU integration -- in such case.Similar temporary measures have been applied in the past to limit the flow of asylum seekers from poorer to richer EU members.Mnuchin: More Data Needed to Assess Impact (3:17 p.m. NY)U.S. Treasury Secretary Steven Mnuchin said Wednesday that two to four more weeks of economic data are needed to forecast the impact of coronavirus.Mnuchin also told a Senate Finance Committee hearing that implementation of the first phase of a U.S. trade deal with China is being slowed by the virus. On Tuesday, White House National Security Advisor Robert O’Brien said agricultural purchases under the deal may not be as large as the Trump administration had hoped due to coronavirus.China Keeps U.S. Experts Waiting (2:39 p.m. NY)Top U.S. health experts seeking to join an international group heading to the center of the coronavirus outbreak in China said they still have no answer on whether they’ll be allowed into the country.U.S. officials have said they’ve offered for weeks to send front-line disease experts to China to study the outbreak, which originated in the city of Wuhan, and consult with colleagues there on how to stop it.“We haven’t been invited yet,” Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, told reporters Wednesday.Read the full story here.Mobile World Congress Is Canceled (1:45 p.m. NY)Mobile World Congress, the premier mobile-industry conference scheduled this month in Spain, was canceled over concerns about the spread of the coronavirus.“With due regard to the safe and healthy environment in Barcelona and the host country today, the GSMA has canceled MWC Barcelona 2020 because the global concern regarding the coronavirus outbreak, travel concern and other circumstances, make it impossible for the GSMA to hold the event” John Hoffman, the chief executive officer of conference organizer GSMA Ltd., said in a statement to Bloomberg News.Intel Corp., MediaTek Inc., AT&T Inc., Cisco Systems Inc. and Sprint Corp. joined Ericsson AB, Sony Corp. and others earlier this week in canceling plans to attend MWC Barcelona later this month.CDC Says Warm Weather May Not Slow Outbreak (1:06 p.m. NY)It’s too early to know if warm spring weather that typically heralds the end of cold and flu season will also slow the coronavirus, said a top official from the U.S. Centers for Disease Control and Prevention.Nancy Messonnier, director of the CDC’s National Center for Immunization and Respiratory Diseases, said Wednesday that she hopes “it will go down as the weather warms up, but it’s premature to assume that.”Messonnier’s remarks Wednesday run counter to a theory put forward by President Donald Trump that heat would stop the new coronavirus.“The heat, generally speaking, kills this kind of virus,” Trump said Monday at the White House. “A lot of people think that goes away in April as the heat comes in.” At a campaign rally this week, he went further, according to a CNN report on his remarks, saying, “in theory when it gets a little warmer it miraculously goes away.”During a call with reporters Wednesday Messonnier said, “I would caution against over-interpreting that hypothesis.”The theory that the coronavirus will slow down when warm weather sets in is mostly based on the fact that other respiratory viruses such as influenza exhibit seasonal patterns, not specific data about this new virus, she said.More from the CDC press briefing:CDC officials haven’t yet been allowed into China or been given direct access to raw data on the epidemic.Some states conducting tests using CDC coronavirus test kits are getting inconclusive results. The CDC said it was working to resolve the problem.CDC is optimistic that lower case counts coming from China in the last few days mean that the country’s quarantine is working, but that it’s “too soon to say that for sure,” Messonnier said.Fed Chair Says Too Early to Know Virus Impact (11:15 a.m. NY)Federal Reserve Chairman Jerome Powell said it will take time to see the impact of the coronavirus outbreak on the U.S. economy.“It’s too uncertain to even speculate” Powell told the Senate Banking Committee on Wednesday. “We’ll be looking at the economic data.”Carnival Sees Material Impact on Results (9:28 a.m. NY)Carnival Corp. said it foresees a slowdown in global bookings and an increase in canceled voyages that will will have a material impact on financial results that wasn’t anticipated because of the coronavirus oubreak.“As a result of coronavirus, the company believes the impact on its global bookings and canceled voyages will have a material impact on its financial results which was not anticipated in the company’s previous 2020 earnings guidance,” the Miami-based cruise ship operator said in a statement Wednesday.The company said it was unable to determine the full financial impact on the current fiscal year.Read the full story hereMobile Conference Organizer Seeks Advice (8:10 a.m. NY)The organizer of MWC Barcelona, the wireless industry’s top annual event, said it has implemented additional health measures and will continue to seek medical advice as it monitors the situation. “This includes regularly meeting with global and Spanish health experts as well as our partners to ensure the wellbeing of attendees,” the GSMA said in a statement.The event is threatened by the withdrawal of some of the biggest telecom companies. The organizer could announce its cancellation as early as Wednesday, people familiar with the matter said earlier. MWC is due to run from Feb. 24 to Feb. 27, drawing around 100,000 people.Germany Faces Recession Risk, Deutsche Bank Says (7:45 a.m. NY)Germany could be on the verge of recession as the coronavirus outbreak exacerbates the nation’s industrial slump, according to Deutsche Bank.The lender now expects a slight contraction in the fourth quarter, and it cast doubt on the prospect of any rebound at the start of 2020. German GDP figures are due to be published on Friday.Chinese Grand Prix Postponed (7:17 a.m. NY)The 2020 Chinese Grand Prix, scheduled for April 17-19, has been postponed as a result of the novel coronavirus outbreak, organizers confirmed.Formula 1 and the FIA will study potential alternative dates later in the year.OPEC Slashes Oil Demand Forecast (7:05 a.m. NY)OPEC cut forecasts for global oil demand as the coronavirus hits fuel use in China, leaving the group facing a renewed glut despite its recent production cuts.The cartel reduced projections for demand growth in the first quarter by 440,000 barrels a day, or about a third, in its monthly report.Cruise Ship Heads to Cambodia (6:50 a.m. NY)The Westerdam luxury cruise liner is now sailing to Sihanoukville, Cambodia. It is due to arrive Feb. 13 and will remain in port for several days. Guests will be able to go ashore.Earlier, Thailand said it would consider helping any sick person aboard but stood by its decision to bar entry, as the ordeal continued for the 2,257 passengers and crew looking to disembark.The Westerdam, which is facing the risk of running low on food, has also been refused entry by Taiwan, Japan, the Philippines and Guam. Carnival Corp.’s Holland America Line, the operator of the ship, has said there’s no reason to believe there are any coronavirus cases on board.Hong Kong Sevens to Be Postponed, TVB Says (6:21 a.m. NY)The Hong Kong Sevens, an annual international rugby tournament that has been running since 1976, is set to be postponed, local broadcaster TVB reported. It was set to start in April.A formal announcement will be made this week.JLR to Extend Shutdown of China Manufacturing: ET (6:20a.m. NY)Tata Motors Ltd.‘s Jaguar Land Rover unit has told its vendor network that the shutdown of its manufacturing operations in China would be extended till Feb. 17, the Economic Times reported.UOB Allocates S$3 Billion in Liquidity Relief (6:58 p.m. HK)United Overseas Bank has allocated S$3 billion ($2.2 billion) of “relief assistance” to Singapore companies aimed at addressing near-term liquidity as the coronavirus impacts economic activity.The bank is offering financing liquidity against mortgages, and will extend working capital financing of as much as S$5 million for as long as one year.ECB’s Lane Sees ‘Pretty Serious’ Short-Term Hit (6:42 p.m. HK)European Central Bank Chief Economist Philip Lane warned that the outbreak could have a “pretty serious short-term hit” to the economy as spending plans are postponed or canceled. He also foresees a bounceback though, with the full-year impact “relatively minor.”It’s a tricky time for the euro zone. Figures on Wednesday showed industrial output slumped the most in almost four years in December, and a January recovery now looks in doubt.Hong Kong Landlords Start to Slash Retail Rents (5:53 p.m. HK)Sun Hung Kai Properties Ltd., the city’s largest developer by market value, will reduce rents for February by 30% to as much as 50% for some of its mall tenants to help them ride out the impact from the virus. Wharf Real Estate Investment Co. announced a similar move for its Harbour City shopping center, Apple Daily reported.Hong Kong’s usually booming property market has virtually ground to a halt. Just 13 homes were sold in the first three weekends after Chinese New Year at the city’s 10 largest housing estates, according to Centaline Property Agency Ltd. data.China’s Battery Storage Capacity Could Drop (5:13 p.m.)China’s battery storage production capacity may fall by as much as 10% to 237 gigawatt-hour this year compared with a pre-coronavirus forecast, Wood Mackenzie said in a note. Tight battery cell supply could slow down the cost decline of EV manufacturing and energy storage systems.China Should Target Bigger Fiscal Deficit: Ex-Official (4:48 p.m. HK)The country’s fiscal deficit should exceed usual 3% of GDP this year to help curb impact of the coronavirus outbreak on the economy, according to an article by Huang Qifan, a former legislator and official.BMW to Reopen Chinese Factories Next Week (4:33 p.m. HK)BMW plans to reopen its Chinese factories on Feb. 17. The carmaker said it was too early to know full effect of the virus.Taiwan Cuts 2020 GDP Forecast (4:28 p.m. HK)Taiwan lowered its estimate for full-year growth and officials said the coronavirus outbreak was set to diminish global trade this year. Gross domestic product will likely expand 2.37% this year, the statistics bureau said, compared to a previous government forecast of 2.72%.Separately, Sweden’s Riksbank said the coronavirus would likely reduce global growth in the short term, but it was difficult to fully assess the economic consequences.DBS Evacuates 300 Employees in Singapore (2:25 p.m. HK)DBS Group Holdings Ltd. evacuated 300 employees from an office floor in the heart of Singapore’s financial district after one of its workers tested positive for the coronavirus.Southeast Asia’s biggest bank has told the staff members on Level 43 at Marina Bay Financial Centre Tower 3 to work from home for the time being, the company said in a statement. The number of evacuees was given in a memo seen by Bloomberg earlier and confirmed by the bank.The coronavirus had already been detected in Singapore’s financial district earlier this week, prompting some companies to send workers home and temperature screening checkpoints to be set up at the entrances of several towers. A worker at an unnamed firm in Marina Bay Financial Centre Tower 1 was confirmed as being infected with the virus over the weekend.Singapore last week raised its disease response level to the same grade used during the SARS epidemic, as it braced for what Prime Minister Lee Hsien Loong said was a “major test for our nation.” Singapore has at least 47 confirmed cases of coronavirus.Early Virus Data Existed Weeks Before Public Release (11:32 a.m. HK)Preliminary genetic sequence data indicating the presence of a SARS-like virus in central China were known about two weeks before key information was publicly released, scientists said.In a commentary piece published Tuesday in the Lancet medical journal, scientists, including members of the World Health Organization’s emergency committee, said insufficient attention was paid to information doctors had gathered about the genetic sequence of the novel coronavirus.Chinese Company Says It Can Make Gilead’s Virus Drug (11:18 a.m. HK)A Chinese drugmaker said it has started mass-producing an experimental drug from Gilead Sciences Inc. that has the potential to fight the novel coronavirus, as China accelerates its effort to find a treatment for the widening outbreak.Suzhou-based BrightGene Bio-Medical Technology Co. said it has developed the technology to synthesize the active pharmaceutical ingredients of remdesivir, Gilead’s drug that is a leading candidate to treat the highly-infectious virus that’s killed more than 1,000 people. The drug isn’t licensed or approved anywhere in the world yet.While BrightGene said that it intends to license the drug from Gilead, its move to start manufacturing at this early stage is highly unusual and a potential infringement of the American company’s intellectual property. It comes a week after Chinese researchers filed an application to patent the drug to treat the new coronavirus.Singapore Not Ruling Out More Stringent Measures (10:50 a.m. HK)Singapore is not ruling out more stringent measures to tackle the coronavirus outbreak if the situation worsens, according to Minister for National Development Lawrence Wong.Singapore is preparing a strong package in the upcoming budget to help companies and individuals manage the economic impacts of the virus, Wong said in a Bloomberg TV interview. Singapore can implement additional measures to contain the spread of the virus without raising the national response level to red, he said.China Death Toll Rises to 1,113 (10:08 a.m. HK)China said the death toll from the coronavirus outbreak rose to 1,113 as of Feb. 11, with 97 additional fatalities reported. Some 1,068 of those deaths have occurred in Hubei, the province at the center of the coronavirus outbreak.Confirmed cases of the disease in mainland China rose to 44,653, according to a statement from the National Health Commission.Hubei reported 1,638 additional cases, the lowest daily level this month. That’s an encouraging sign for health experts looking for when the outbreak peaks. Also, the number of suspected cases as of Feb. 11 was 16,067, down from 21,675 the previous day.Two deaths have been reported outside mainland China, one in Hong Kong and the other in the Philippines.China Supports Merger of Airlines Amid Outbreak (10:01 a.m. HK)China’s Civil Aviation Administration said it will support the restructuring of airlines to ease the impact from the coronavirus outbreak. The administration will also work with the Ministry of Foreign Affairs in urging some countries to continue international flights with China.The coronavirus outbreak has disrupted flights to and from China, one of the world’s busiest travel markets, as airlines around the globe halt service.Xi Vows China Will Meet Economic Goals, Defeat Virus (9:10 a.m. HK)President Xi Jinping vowed that China would meet its economic and social development goals while winning the battle against the deadly coronavirus.“We have the ability and confidence not only to defeat the epidemic, but also to accomplish the set goals and tasks for economic and social development,” he told Indonesian leader Joko Widodo in a phone call Tuesday, according to the official Xinhua news agency. “I believe China will be more prosperous after overcoming this epidemic.”China Ag Purchases May Be Less Than Hoped: Official (8:42 a.m. HK)China’s agricultural purchases from the U.S. under the first phase of a trade deal may not be as large as the Trump administration had hoped due to the coronavirus, said White House National Security Advisor Robert O’Brien.“It could have an impact on how big, at least in this current year, the purchases are,” O’Brien said at an Atlantic Council event Tuesday in Washington. He also said American doctors are still not being let into China to deal with the outbreak.Japan Reports 39 More Cases Aboard Cruise Ship (7:54 a.m. HK)Japan’s Health Ministry confirmed an additional 39 cases of the novel coronavirus on a cruise ship in Yokohama, bringing the total number of infections from the quarantined vessel to 174.Defense Minister Taro Kono tweeted that a quarantine officer from the health ministry also tested positive for the virus. Carnival Corp.’s Diamond Princess cruise ship has become the biggest center of infection of any place outside of China.U.S. Raises Travel Advisory for Hong Kong (3:20 p.m. NY)The U.S. State Department raised its travel advisory for Hong Kong to level 2, which means travelers should exercise increased caution.“The Hong Kong government has reported cases of the novel coronavirus in its special administrative region, has upgraded its response level to emergency, its highest response level, and is taking other steps to manage the novel coronavirus outbreak,” the department said.Last month, the U.S. raised the advisory for mainland China to level 4, the highest designation, which means do not travel.\--With assistance from K. Oanh Ha, Li Liu, Josh Wingrove, Emi Nobuhiro, Michael Heath, Karen Leigh, Dong Lyu, James Mayger, Sam Kim, Jon Herskovitz, Chanyaporn Chanjaroen, Paul Gordon, Morwenna Coniam, Kati Pohjanpalo, John Martens, Timothy Annett, Nate Lanxon, Saleha Mohsin and Nikos Chrysoloras.To contact Bloomberg News staff for this story: Michelle Fay Cortez in Minneapolis at firstname.lastname@example.org;Isabel Reynolds in Tokyo at email@example.com;Jason Gale in Melbourne at firstname.lastname@example.org;Robert Langreth in New York at email@example.comTo contact the editors responsible for this story: Drew Armstrong at firstname.lastname@example.org, ;Rachel Chang at email@example.com, ;Adveith Nair at firstname.lastname@example.org, Mark SchoifetFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Johnson & Johnson (JNJ) expands its agreement with BARDA, part of U.S. Department of Health and Human Services for accelerated development of a vaccine for the newly found coronavirus.
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.The death toll from the coronavirus exceeded 1,000. Hubei, the province at the center of the outbreak, reported its highest number of fatalities yet and removed top officials. The disease caused by the new coronavirus has been officially named Covid-19.A first group of Americans evacuated from China are scheduled to be released from quarantine, and the U.S. State Department will allow non-essential personnel in Hong Kong to depart. A top U.S. health official raised questions about ongoing concerns of cruise ships with infections.Beijing said regions less hit by the disease should accelerate a resumption of industrial output and authorized Airbus SE to restart operations in Tianjin. The U.S. Federal Reserve singled out the crisis as among risks threatening the U.S. and world economy.Bloomberg is tracking the outbreak on the terminal and online.Key DevelopmentsChina death toll at 1,016, up by 108; confirmed cases at 42,638Hong Kong PolyU develops rapid diagnostic systemWireless event hangs by a thread as virus deters more companiesCourier services disrupted, wreaking havoc on commodities tradersWhen coronavirus hits a ship, it’s too late to batten down the hatchesJ&J Says It Will Accelerate Vaccine Work (4:34 p.m. NY)Drugmaker Johnson & Johnson will accelerate work on its attempts to develop a vaccine for the new coronavirus, expanding a collaboration with the U.S. government’s Biomedical Advanced Research and Development Authority, the company said in a statement. Under the agreement, J&J and Barda will share some R&D expenses, and J&J will will work to expand production capabilities for a potential vaccine.U.S. Raises Travel Advisory for Hong Kong (3:20 p.m. NY)The U.S. State Department raised its travel advisory for Hong Kong to level 2, which means travelers should exercise increased caution.“The Hong Kong government has reported cases of the novel coronavirus in its special administrative region, has upgraded its response level to emergency, its highest response level, and is taking other steps to manage the novel coronavirus outbreak,” the department said.Last month, the U.S. raised the advisory for mainland China to level 4, the highest designation, which means do not travel.American Airlines Extends Flight Suspensions (1 p.m. NY)American Airlines Group Inc. on Tuesday extended the suspension of U.S. flights to Shanghai and Beijing and between Los Angeles and Hong Kong through April 24.The suspension is about a month longer than planned because of an ongoing decline in demand, said the airline. The carrier also said it won’t fly between Dallas-Fort Worth and Hong Kong until at least April 24, about two months longer than it originally expected, for the same reason.U.S. Health Official Raises Concerns About Cruise Ship (12:19 p.m. NY)A top U.S. health official said that quarantining large numbers of people on cruise ships to contain cases of the coronavirus may present issues.“The increased cases count is making authorities really look critically at what is the safest thing,” said Anne Schuchat, principal deputy director of the Centers for Disease Control and Prevention, during a press event Tuesday in Washington.Several cruise ships have been quarantined or turned away from ports because of concerns about infections on board. Some older cruise passengers can be at particular risk of complications from the virus.First Quarantined American Evacuees to Be Released (10:30 a.m. NY)A first group of Americans who were quarantined after being repatriated from the center of the outbreak in China are expected to be released Tuesday, Anne Schuchat, principal deputy director of the U.S. Centers for Disease Control and Prevention, said at a press conference Tuesday.Health workers are doing final checks to make sure none of the people are showing symptoms.The U.S. has been putting those evaluated from the outbreak into quarantines of at least 14 days, part of a broad set of measures to stop potential spread of the virus by returning Americans and their family members. A first group of about 200 Americans was repatriated last month, and the U.S. has been running quarantine centers at military bases.State Department to Let Some Hong Kong Staff Depart (10:25 a.m. NY)The U.S. State Department will let non-essential diplomats and their families based in Hong Kong leave if they want to, amid growing fears about the spread of the coronavirus there.Hong Kong consular staff and their families aren’t required to leave, a State Department spokesperson said Tuesday, speaking on condition of anonymity. The move is being taken out of an abundance of caution and the consulate will remain open, the person said. Nevertheless, the decision is likely to be closely reviewed by other countries and businesses as they plan how to gauge their response to the outbreak.The State Department move comes as the number of cases in Hong Kong continues to grow, with at least 49 confirmed infections and one death. The U.S. shut its consulate in Wuhan, China, the center of the outbreak, and has allowed diplomats and family members to leave other outposts in China if they wish.Disease Is Officially Named Covid-19, WHO Says (10:10 a.m. NY)The disease cause by the new coronavirus that emerged in Wuhan, China, has been officially named Covid-19, the World Health Organization said at a press conference Tuesday in Geneva.The pathogen itself has gone by the designation 2019-nCoV. WHO Director-General Tedros Adhanom Ghebreyesus said that naming the disease it causes was important, and that the group had been conscious about not picking a name that could be inaccurate or stigmatizing.Powell Says Risks to Outlook Remain as Fed Monitors Coronavirus (8:30 a.m. NY)Federal Reserve Chairman Jerome Powell said the bank is monitoring the fallout from the deadly outbreak, “which could lead to disruptions in China that spill over to the rest of the global economy.“Airbus to Restart Production in Tianjin (7:50 a.m. NY)European planemaker says it has been authorized by Chinese authorities to restart operations at its final-assembly line in Tianjin. The company said this will allow it to gradually increase production “while implementing all required health and safety measures for Airbus employees.”Airbus had said Wednesday the assembly line was closed following government advice. The Tianjin plant produces about six narrow-body aircraft per month, or about 10% of Airbus’s total narrow-body output.Under Armour, Moncler Warn on Coronavirus Impact (7:27 a.m. NY)Moncler, the Italian maker of down jackets, and Under Armour became the latest companies to feel the effects of the coronavirus, echoing comments from Canada Goose Holdings Inc. and Burberry Group Plc.Milan-based Moncler said it has taken “significant and urgent” measures to deal with the epidemic -- including postponing some projects and investments -- but warned it was difficult to forecast the effects on 2020 results.Under Armour said the virus would lead to $50 million to $60 million in lost sales in the first quarter of 2020 and warned of a larger impact beyond the period.H.K. PolyU Develops Rapid Diagnostic System (6:17 p.m. HK)The system can identify 30 to 40 pathogens including the novel coronavirus, severe acute respiratory syndrome and Middle East respiratory syndrome in one single test and in about an hour, the Hong Kong Polytechnic University said.China Lets Local Governments Sell More Debt Early (6:08 p.m. HK)China will allow local governments to sell another 848 billion yuan ($122 billion) of debt before March, as authorities seek to offset the economic shock of the coronavirus.The new quota includes 558 billion yuan of local government debt as well as 290 billion yuan of so-called special debt, according to a Ministry of Finance statement Tuesday. The latter is mainly used to finance local infrastructure projects like highways and health facilities.The second batch of early-approved local debt quota by the Chinese authorities indicates a strong government intention to accelerate the recovery of economic activity amid the coronavirus. We now see a higher chance of the overall fiscal deficit widening while more stimulus measures get launched to cushion the impact.\-- David Qu and Chang Shu, Bloomberg Economics; Click here to view the researchChina May Delay U.S. Farm Purchase Target (5:23 p.m. HK)The coronavirus outbreak may delay the implementation of U.S. farm good purchases as part of the phase one trade deal, but they will likely be fulfilled by the end of the year, according to China’s agriculture ministry outlook committee.Two Japan Evacuees Get Virus After First Testing Negative (5:12 p.m. HK)Two Japanese men who were evacuated from Wuhan late last month have tested positive for the novel coronavirus after initially being cleared of the deadly disease, the health ministry said.The cases bring total infections in Japan to 28, excluding 135 on a cruise ship under quarantine in Yokohama. Both men had tested negative on Jan. 30 after they returned from the Chinese city on a government-chartered flight.China Urges Farmers to Wear Masks While Planting (5:11 p.m. HK)China is asking its farmers to wear face masks to prevent the spread of the virus while urging them not to miss the spring planting season.The agriculture ministry issued a notice on Monday advising farmers to wash hands and wear masks, but still prepare for planting. It also asked local villages not to block roads to ensure the timely arrival and transport of seeds, pesticides and other farming equipment.Indonesia’s Jokowi Orders Spending Spree (4:50 p.m. HK)Indonesian President Joko Widodo has called for fiscal stimulus to be accelerated in a bid to shield Southeast Asia’s biggest economy from the coronavirus crisis.While Indonesia is yet to record a single case of the deadly virus, officials have become increasingly worried about the economic impact. China is Indonesia’s biggest trading partner and its top export destination.China Starts Handing Out ‘Force Majeure’ Slips (4:49 p.m. HK)Huida Manufacturing (Huzhou) Co. became one of the earliest known companies to obtain a “force majeure” certificate in China that may help it avoid penalties for breaching contractual obligations.The China Council for the Promotion of International Trade said it issued the certificate on Feb. 2. More companies have since received the document.China Pushes Big Companies to Meet Output Targets (4:15 p.m. HK)China is urging the nation’s biggest companies to meet production targets despite the challenges presented by the coronavirus epidemic, as firms begin to restart plants that have been idled for weeks.Regions that are less hit should accelerate the resumption of production, according to a nationally televised conference held by Ministry of Industry and Information Technology. The ministry said it was “very urgent” to resume industrial production and stabilize expectations.The impact to China’s economy from the coronavirus will be short-term and won’t derail its longer term improvement, CCTV reported Monday, citing President Xi Jinping. China will strengthen controls on economic operations and monitor employment to avoid large-scale layoffs, it said.Xi told local officials during a Feb. 3 meeting of the Politburo’s Standing Committee that efforts to contain the virus had gone too far and threatened its economy, Reuters reported Tuesday, citing unidentified people familiar with the meeting.Dalio Says Market Impact Is ‘Exaggerated’ (3:57 p.m. HK)Investor concerns over the pandemic “probably had a bit of an exaggerated effect on the pricing of assets because of the temporary nature of that, so I would expect more of a rebound,” Ray Dalio, the billionaire founder of Bridgewater Associates, said at a conference in Abu Dhabi. “It most likely will be something that in another year or two will be well beyond what everyone will be talking about.”Virus Likely Cost China’s Retail and Food Sectors Billions (3:54 p.m. HK)The outbreak of coronavirus may have cost China’s retail and food service sectors billions of dollars in sales during the Lunar New Year week, according to a leading food and agricultural bank.Revenue lost in both retail and food services during the Lunar New Year week could range from 20% to 80%, representing a fall of $31 billion to $124 billion, as major chains shuttered stores across the country, Rabobank said in a report.Chipmakers Skip Premier Mobile Show on Virus Fears (3:27 p.m. HK)Intel Corp. and MediaTek Inc. have pulled out of Mobile World Congress, joining a list of marquee names skipping the wireless industry’s biggest annual showcase because of concerns about the spread of the novel coronavirus.Fellow tech giants Ericsson AB, Sony Corp. and LG Electronics Inc. have already withdrawn from the conference scheduled to kick off in Barcelona’s Fira Gran Via on Feb. 24. The growing number of cancellations has called into question an event at which smartphone and networking companies from Huawei Technologies Co. to Samsung Electronics Co. show off their wares and launch new products.The GSMA, which organizes the gathering, said it’s going ahead irrespective of the cancellations, though it’s requiring attendees to prove they’ve not set foot in mainland China in the two weeks prior to showing up.China Stats Bureau to Survey Economic Impact (3:23 p.m. HK)China’s National Bureau of Statistics will conduct a special survey on the economy amid the coronavirus epidemic and analyze the outbreak’s impact, according to a statement. The bureau will use data from the survey to advise the government on the resumption of production as well as the success of coronavirus control efforts.South Korea Advises Avoiding Japan, Singapore (2:48 p.m. HK)South Korea’s health ministry advised citizens to minimize travel to countries with confirmed cases of novel coronavirus, including Singapore, Japan, Malaysia, Vietnam, Thailand and Taiwan, according to a ministry statement. South Korea will strengthen quarantine screening on entrants from Hong Kong and Macau.China Home Sales Plunge Due to Virus (1:29 p.m. HK)Home sales in China have been dealt a huge blow by the spreading coronavirus, with figures showing transactions plunged in the first week of February. New apartment sales dropped 90% from the same period of 2019, according to preliminary data on 36 cities compiled by China Merchants Securities Co. Sales of existing homes plummeted 91% in eight cities where data is available.CDC Confirms 13th Case in the U.S. (11:38 a.m. HK)The Centers for Disease Control and Prevention confirmed another case of coronavirus in California, bringing the number in the U.S. to 13.The latest patient is in San Diego, and was among citizens evacuated from Wuhan to the U.S. and under quarantine. The CDC said it is conducting an investigation to determine the patient’s contacts and assess if they had high risk exposure.Hong Kong Won’t Enact Mask Laws (11:12 a.m. HK)Hong Kong authorities have no plans to enact laws regulating the city’s supply of surgical masks, Chief Executive Carrie Lam told reporters at a weekly briefing.Lam has faced criticism from the public in recent days as a mask shortage sent people scrambling to form long lines at pharmacies, while residents distrustful of her administration after months of pro-democracy protests staged a run on toilet paper. She urged Hong Kongers to reduce their number of social interactions as the city works to ward off a wider outbreak.Lam said the government wasn’t calling for compulsory closures, “because Hong Kong is a free society” and business operators were already taking strong precautionary measures.Singapore Sees Up to 30% Drop in Tourism (10:32 a.m. HK)Singapore could see a 25% to 30% decline in tourist arrivals and spending this year because of the coronavirus outbreak, as the industry braces for a worse impact than the 2003 SARS pandemic, the city’s tourism chief said.The city-state is losing about 18,000 to 20,000 tourists a day, and the figures could plummet further if the situation persists for longer, Keith Tan, chief executive of Singapore Tourism Board, said in an interview with Bloomberg TV.China accounts for about 20% of Singapore’s tourism intake, the biggest source of visitors ahead of Indonesia and India. China’s ban on outbound tour groups and Singapore’s move to bar Chinese nationals from entering has led to an “evaporation” of a key source of revenue, Tan said.China’s Hubei Province Removes Top Health Officials (9:04 a.m. HK)China’s Hubei province at the center of the virus outbreak has removed health commission head Liu Yingzi and party chief Zhang Jin from their posts, state-run CCTV reported.Criticism has mounted over China’s transparency and speed in handling the epidemic. The government’s struggle to stem the outbreak has fueled concerns about President Xi Jinping’s efforts to centralize power since taking office, with officials pointing fingers over who’s to blame for the spread of the illness.The death last week of a 34-year-old doctor, Li Wenliang, who was sanctioned by local authorities after warning about the disease, unleashed a torrent of grief and anger on social media.Thailand Says Ship Won’t Be Allowed to Disembark (8:56 a.m. HK)Passengers from a ship that has been blocked from other ports due to virus concerns won’t be given permission to disembark in Thailand. The Westerdam cruise ship, operated by Carnival Corp.’s Holland America, has been refused entry by a number of nations over fears that passengers may be carrying the coronavirus.The ship departed Hong Kong on Feb. 1 with 1,455 passengers and 802 crew. It is set to arrive at a port near Bangkok on Thursday, and checks with health authorities indicate there is “no reason to believe there are any cases of coronavirus on board the ship,” Holland America said in a statement Monday.China Death Toll at 1,016 (8:17 a.m. HK)The death toll in China from the coronavirus rose to 1,016, with the addition of 108 fatalities for Feb. 10, according to the National Health Commission. Hubei, the province at the center of the outbreak, reported 103 more deaths, its highest daily count so far.While the total confirmed cases in mainland China climbed to 42,638, Hubei reported 2,097 new infections, the smallest daily increase since Feb. 1.Two additional deaths have occurred outside of mainland China: one in Hong Kong and the other in the Philippines.(An earlier update was corrected to clarify that new name is for the disease, not the virus, in the item from 10:10 a.m. NY time)\--With assistance from Isabel Reynolds, Dominic Lau, Simon Lee, Cecilia Yap, Josh Wingrove, Karen Leigh, Nicolas Parasie, Ainslie Chandler, Ian King, Stephen Tan, John Lauerman and Nick Wadhams.To contact Bloomberg News staff for this story: Michelle Fay Cortez in Minneapolis at email@example.com;Robert Langreth in New York at firstname.lastname@example.org;Li Liu in Beijing at email@example.com;Drew Armstrong in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Rachel Chang at email@example.com, ;Drew Armstrong at firstname.lastname@example.org, Jeff Sutherland, Mark SchoifetFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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