Diamonds and Dogs
Biotech, Moderna (MRNA) is up 27% to new highs as the company ships vials of its experimental coronavirus vaccine to the National Institutes of Health for human trials. The news came amid heightening global worry over the spread of the coronavirus known as Covid-19, which emerged in the Hubei province of China and has spread globally. There were 80,289 confirmed cases of the disease around the world as of Tuesday morning, according to an online tracker developed by Johns Hopkins University. The Centers for Disease Control's is warning that the risk of the virus spreading domestically is on the rise.
Mastercard (MA) lowers guidance due to the coronavirus. Mastercard is down 7% to a two-month low after preannouncing quarterly results due to customers traveling and spending less due to the coronavirus. The company is also announcing the CEO will step down at the end of the year and will be replaced by the chief product officer. Expect more preannouncements to come.