Facebook (NASDAQ:FB) says the coronavirus outbreak is set to hit production of its Oculus VR headsets, which are made in China.
Last year’s Oculus Quest is out of stock in some regions, UploadVR notes, and a combination of high demand and the virus is likely to have an impact on future availability.
Facebook has instructed employees to cancel nonessential trips to China; Bloomberg notes a source said the company was looking into facilities in countries like Vietnam to pick up some of the production slack.
Uber jumps post-earnings, but is Lyft starting a price war?
According to checks made by Deutsche, Lyft (NASDAQ:LYFT) pricing in major markets is lower than Uber (NYSE:UBER) by a “material amount.”
Uber is ahead 7.7% premarket after topping estimates and issuing strong guidance. Lyft is up 4.4%.
A memo obtained by Bloomberg tells employees to “wait for further notice” on a return date.
Foxconn’s mainly assembles Apple’s (NASDAQ:AAPL) iPhones in Zhengzhou, but some assembly occurs in Shenzhen, and it serves as the company’s Chinese headquarters.
Yesterday, Nikkei Asian Review sources said the coronavirus outbreak was delaying Apple’s plan to ramp up AirPods production to meet demand.
Resonant prices underwritten equity offering
Resonant (NASDAQ:RESN) has priced its previously announced underwritten public offering of 16,666,667 common stock at $1.50 per share, for gross proceeds of ~$25M.
Underwriters’ over-allotment is an additional 2.5M shares.
The offering is expected to close on or about February 11.
The company intends to use the net proceeds from the offering for working capital and other general corporate purposes.
Goldman adds Workday to conviction list; shares +1%
