As the number of people infected by the coronavirus is growing day by day, we see an increasing impact this outbreak has on local businesses and the global economy: IMF slashed its 2020 growth outlook for China to below 5.6% on March 04. The Fed also announced the first emergency rate cut in interest rates by half a percentage point.
Apple issued warnings for Q2 earnings citing the cut in production due to the nCovid-19 outbreak. Airbus shut down its assembly line that can produce $300 million worth of aircraft monthly because the outbreak alters supply and demand.
In order to track and quantify how the disease is affecting sectors and their respective companies, our engine released a new event “coronavirus” to monitor messages, analyze sentiments and measure the impact of the outbreak.
Here’s what caught our attention:
+ The Consumer Cyclical sector is the category with the most identified companies related to the coronavirus.
+ Companies in the Tech sector have seen the highest number of news, blogs and tweets with regard to the coronavirus.
+ The Healthcare sector has been the only one with a very positive event sentiment score. Johnson & Johnson and Gilead Sciences have been the main drivers.
+ The Industrials sector has faced the most negative event sentiment score. Delta Airlines and Ryanair ranked bottom.