NexOptic Technology Corp (TSXV: NXO)
You’ll Never See The World The Same Way Again
JPMorgan (JPM -3.3%) is asking U.S. employees to work from home as part of a contingency plan to close U.S. offices should the coronavirus spread.
Last week, MKM was out with a list of work-at-home beneficiaries. It included: Citrix (CTXS -1.9%), Atlassian (TEAM -0.2%), Slack (WORK -2.2%), and Zoom Video (ZM +2.9%).
Verizon (VZ -2.4%) CFO Matt Ellis says the effects of COVID-19 and the coronavirus haven’t been visited on the company’s business, noting “We haven’t seen a material impact yet.”
But it’s not immune from collateral effects and disruption, he said at an investor conference.
There’s no change to customer behavior and no significant effect on its supply of handsets or network equipment, he says, though he notes that factory closures could eventually make handset supplies sparse.
Meanwhile, he says the company is interested in buying C-band spectrum, which it hopes to begin using as early as the end of next year, and it’s going to expand its 5G residential fixed wireless service starting at the end of the year.
The company’s halfway through $10B in cost cuts and plans to target the business segment and supply chain for more.
Alibaba’s (NYSE:BABA) AliExpress warns customers about potential delivery delays due to the coronavirus outbreak.
AliExpress said some shipping and logistics are “experiencing longer waiting times for processing orders.”
Last month, Alibaba warned that the extended Lunar New Year holiday had caused problems for merchants. The company said businesses relying on physical goods would likely take revenue hits in the current quarter.
Alibaba shares are down 0.9% to $209.15.
Blueshift Research thinks Microsoft (NASDAQ:MSFT) Azure and AWS (NASDAQ:AMZN) can “add substantial numbers of customers” due to the coronavirus outbreak.
The firm notes that Microsoft is already seeing a cloud subscription jump and sees both cloud-computing businesses benefiting from the increase in employees working from home.
Amazon shares are up 0.6% pre-market to $1,966. Microsoft is up 0.6% to $173.83.
Related: Last week, Microsoft said it didn’t expect to meet its Q3 outlook for the More Personal Computing business due to the virus.
“Our number of platform users may decline materially or fluctuate as a result of many factors, including… a pandemic or an outbreak of disease or similar public health concern, such as the recent coronavirus outbreak, or fear of such an event,” Uber (NYSE:UBER) wrote in an 8-K filing.
The company also said that an epidemic could disrupt its supply chain for “new mobility” offerings like dockless and electric bikes and scooters.
In an interview last month, CEO Daa Khosrowshahi had said, “we’re not seeing a significant effect on the business overall.”
