We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The 2016 Rio Summer Olympics are in full swing, with the USA typically leading in the overall medal count behind big wins in the pool from Michael Phelps, Katie Ledecky and others, the women’s gymnastics team, etc. But we’ve also seen empty seats at various Olympic venues this time around, and a big reason for this might be the threat of the mosquito-borne Zika virus.
Zika causes microcephaly, according to the Centers of Disease Control and Prevention, along with other brain defects in fetuses. This is obviously a major concern of pregnant women or women with the capacity to become pregnant, which may have caused plenty of cancellations to Rio de Janeiro, Brazil for the Olympic Games this year.
It’s not only Brazil that’s affected by this nasty virus — 22 countries have reported Zika cases, including 21 in the U.S. Four more cases have been reported in Florida recently, in the Miami area. Scientists fear these numbers will continue to climb, and those close to this contagion are imploring Congress to take action to stop it.
Inovio Pharma (INO - Free Report) is leading the charge toward eradicating the Zika virus, and although the company reported a Q2 loss on the bottom line, it brought in improved revenues for the quarter. The small-cap pharma firm has been trading down recently, but is up 55% over the past 6 months.
Speaking of Florida, The Walt Disney Co. (DIS - Free Report) is riding high in the pre-markets on top and bottom-line beats for its fiscal Q3 earnings reported after the bell Tuesday. Among the positive surprises was bigger spending in the U.S. theme parks (Disneyland Paris is still enduring a downturn, and Asian parks are holding steady overall). However, should the Zika virus threaten up the Florida peninsula, we might expect some empty seats at Epcot Center akin to those at the Rio Olympics currently.
Later this morning, we expect the U.S. government’s JOLTS report — Job Opportunity Labor Turnover — to give some additional perspective to the current U.S. jobs market. This will be followed by the July fed budget statement due out this afternoon.
Helping wrap up earnings season is Yelp (YELP - Free Report) leaping more than 13% ahead of this morning’s bell on a strong Q2 earnings report yesterday and raised guidance for fiscal 2016. Michael Kors beat earnings expectations but came in light on sales and provided a softer outlook. Wendy’s (WEN - Free Report) topped earnings and revenue estimates, but cut guidance on same-store sales. And designer for Team USA in the Rio Olympics, Ralph Lauren (RL - Free Report) , easily beat earnings estimates of 89 cents per share by posting $1.06 per share.
Mark Vickery Senior Editor
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Zika Virus and Today's Stock Market
Wednesday, August 10, 2016
The 2016 Rio Summer Olympics are in full swing, with the USA typically leading in the overall medal count behind big wins in the pool from Michael Phelps, Katie Ledecky and others, the women’s gymnastics team, etc. But we’ve also seen empty seats at various Olympic venues this time around, and a big reason for this might be the threat of the mosquito-borne Zika virus.
Zika causes microcephaly, according to the Centers of Disease Control and Prevention, along with other brain defects in fetuses. This is obviously a major concern of pregnant women or women with the capacity to become pregnant, which may have caused plenty of cancellations to Rio de Janeiro, Brazil for the Olympic Games this year.
It’s not only Brazil that’s affected by this nasty virus — 22 countries have reported Zika cases, including 21 in the U.S. Four more cases have been reported in Florida recently, in the Miami area. Scientists fear these numbers will continue to climb, and those close to this contagion are imploring Congress to take action to stop it.
Inovio Pharma (INO - Free Report) is leading the charge toward eradicating the Zika virus, and although the company reported a Q2 loss on the bottom line, it brought in improved revenues for the quarter. The small-cap pharma firm has been trading down recently, but is up 55% over the past 6 months.
Speaking of Florida, The Walt Disney Co. (DIS - Free Report) is riding high in the pre-markets on top and bottom-line beats for its fiscal Q3 earnings reported after the bell Tuesday. Among the positive surprises was bigger spending in the U.S. theme parks (Disneyland Paris is still enduring a downturn, and Asian parks are holding steady overall). However, should the Zika virus threaten up the Florida peninsula, we might expect some empty seats at Epcot Center akin to those at the Rio Olympics currently.
Later this morning, we expect the U.S. government’s JOLTS report — Job Opportunity Labor Turnover — to give some additional perspective to the current U.S. jobs market. This will be followed by the July fed budget statement due out this afternoon.
Helping wrap up earnings season is Yelp (YELP - Free Report) leaping more than 13% ahead of this morning’s bell on a strong Q2 earnings report yesterday and raised guidance for fiscal 2016. Michael Kors beat earnings expectations but came in light on sales and provided a softer outlook. Wendy’s (WEN - Free Report) topped earnings and revenue estimates, but cut guidance on same-store sales. And designer for Team USA in the Rio Olympics, Ralph Lauren (RL - Free Report) , easily beat earnings estimates of 89 cents per share by posting $1.06 per share.
Mark Vickery
Senior Editor