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The coronavirus takes a toll with tech leading losses. Earlier, apple cut its revenue guidance for the march quarter with the outbreak continuing to impact the iphone maker supply and demand. The coronavirus is impactful, but not permanently impactful. In other words, it is a temporary blip. On the demand side longer term for apple, i dont see any issues so that gives me a lot of confidence we will see a nice rebound when this is over. The bad news is, apple made a big bet on china. 20 of revenue, a huge part of the supply chain. If the virus isnt contained, this will continue to be a problem. In longerterm, it china and the was a u. S. Are likely to be at loggerheads. I think the virus could be a problem longer market thing. There is no better ceo to handle the current challenges then tim cook and while it is currently concerning, having him at the helm is very reassuring. It is quite hard to shift production in a number of weeks. Emily we got more reaction from the New York , United States , Ha Afon , Republic Of , Bruxelles Capitale , San Francisco , Ben Brody , Mike Mayo , Emily Chang , James Gorman , Robin Hood , Paul Allen , Bloomberg Emily , Bloomberg Brad , Bob Swan , Facebook Emily , Taylor Riggs , Takes Toll , Bad News , Tim Cook , Senior Research , Senior Research Analyst , Research Analyst , Allen Say , People Buy , Lot Companies ,
Back of that data. Refinery utilization was positive by 1. 4 . The market was looking for that to go into the negative by 0. 5 . Crude Oil Inventories rising by 415,000 barrels only last week. Gasoline inventories was a drawdown of nearly 2 million barrels. Lets check u. S. Markets more broadly. The major indices are really unchanged, but we have a few major movers, including viacom cbs, which disappointed in its First Quarter as a combined company. Investors are really punishing that stock. Guy a bit of breaking news, the unicredit boss looks like he is emerging as a potential hsbc ceo to get the job. Remember, noel quinn currently yethe interim ceo at hsbc, the interim ceo putting out a is involvingk that deep changes in the way hsbc runs its business and potentially a retrenchment back to the middle east and into asia in particular. He thousand jobs potentially going even ....
Omani bank Sohar International receives SAMA approval for Saudi expansion arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
Saudi: SAMA licenses' Smart Interaction' to provide finance aggregation services zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.