Diamonds and Dogs
Gilead Science (GILD) one of the few stocks higher today. Gilead is up a percent as hundreds of patients have been enrolled in a study for the severe Covid-19, coronavirus. Gilead could unveil the results of its earliest coronavirus treatment effort in April. Officials in China have two studies underway with Gilead's drug, remdesivir. After 28 days, officials could have a better idea of whether remdesivir could work in coronavirus treatment. One Analyst believes there is a 50% probability the drug will succeed.
How much worse for the airlines. United Airlines (UAL) is down 6% as the President Scott Kirby at a presentation on Tuesday at a J.P. Morgan conference outlined the "dire scenario planning assumption," under which the company's revenue could drop 70% in both April and May, 60% in June, 40% in July, 30% in September and October and 20% in November and December. The President of UAL doesn't believe it will end up being this dire. After 9/11, revenue was down 40% for two months and then began a gradual recovery.