At least 150 companies have warned investors


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David Paul Morris | Bloomberg | Getty Images

About 150 publicly traded companies have warned investors of the threat COVID-19 poses, with several anticipating they’ll miss guidance for the March quarter. 

The new coronavirus was first discovered in December in China. At first, several companies had to suspend their supply chains or temporarily close brick-and-mortar locations across China, in an attempt to stop the spread of the virus. A handful of companies such as Apple that rely on manufacturing and retail sales in the region initially warned the coronavirus would hurt business but indicated operations would return to normal. But then COVID-19 started spreading rapidly across the globe and fears of a global economic slowdown increased, leading to a steep market sell-off. 

“The backdrop right now is different,” Quincy Krosby, chief market strategist at Prudential Financial, told CNBC. “We don’t know in this pyramid of uncertainty under the coronavirus what happens to the economy, what happens to consumer spending, what happens to [capital expenditures].”

“The only thing that can change this pyramid is what we hear from the government in terms of alleviating some of the pain,” Krosby added. “You know that the Fed, Treasury Department and White House have to be focused on this to make certain the financial conditions stay healthy and solid.” 

The travel sector is among the hardest hit, with JetBlue, United Airlines, American Airlines and Delta Air Lines all saying they will not provide guidance for the fiscal year due to the uncertainties related to the coronavirus. Hilton Worldwide on Tuesday pulled its first-quarter guidance due to the impact of the coronavirus, joining Expedia, Hyatt, Booking Holdings and Host Hotels. Cruise companies, like Royal Caribbean, have also struggled, as customers continue to reschedule or cancel their upcoming trips. In an attempt to relieve that pressure, President Donald Trump said this week that the United States will work with airlines and cruise companies in response to the outbreak.

Retailers and restaurants have also warned on missed revenue due to the coronavirus. Anheuser-Busch InBev and Starbucks have both said they’ve lost out on $285 million and as much as $430 million, respectively, in Chinese revenue. Clothing retailer Abercrombie & Fitch expects as much as $50 million in lost sales during its fiscal first quarter, while Macy’s said the virus could impact the department store chain. Urban Outfitters on Wednesday pulled its first-quarter guidance due to a decline in store traffic. 

 “We think it’s reasonable to expect industry-wide delays in terms of delivery around the world — including potentially missed shipment[s] and service windows,” Under Armour CEO Patrik Frisk told analysts in early February. 

As of Wednesday morning, the rapidly spreading coronavirus has infected more than 119,476 globally and killed at least 4,291, according to data compiled by Johns Hopkins University. In the United States alone, at least 1,039 people have been confirmed to have contracted the flu-like virus and at least 29 have died. 

CNBC has compiled the following list of companies that have warned of performance effects or updated guidance due to COVID-19 so far:

AB Inbev

Abercrombie & Fitch

Advance Auto Parts

Agilent

Air Canada

Air France-KLM

Alibaba

Alphabet

AMD

American Airlines

American Axle

Analog Devices

Apple

Applied Materials

AstraZeneca

Avery Dennison

Baidu

Bausch Health

Becton Dickinson

Best Buy

Big Lots

Blackstone

Booking Holdings

Boston Scientific

Brown-Forman

Burberry

Callaway Golf

Canada Goose

Capri

Carnival

Caterpillar

Cathay Pacific

Church & Dwight

Ciena

Coca-Cola

Colgate-Palmolive

Columbia Sportswear

ConocoPhillips

Costco

Coty

Cree

Crocs

Cummins

Delta Air Lines

Diageo

Disney

Eastman Chemical

Emerson Electric

EssilorLuxottica

Estee Lauder

Eventbrite

Expedia

Expeditors

FedEx

Fossil

Gap

Gartner

General Electric

Goodyear Tire

Herbalife

Hermes

Hershey

Hewlett Packard Enterprise

Hilton

Honda

Hormel

Host Hotels

HP

Hyatt

Illinois Tool Works

IMAX

IPG Photonics

Jabil

JetBlue

JD.com

KLA

Kontoor Brands

Las Vegas Sands

Lenovo

Levi Strauss

Logitech

L’Oreal

Luckin Coffee

Lufthansa

Lululemon

LVMH

Macy’s

Maersk

Mandarin Oriental

Marriott

Marvell Technology

Mastercard

McDonald’s

MGM Resorts

Microchip Technology

Microsoft

Mondelez

New York Times

Nike

Nintendo

Nu Skin

Nutanix

NVIDIA

NXP Semiconductors

ON Semiconductor

Papa John’s

PayPal

PerkinElmer

Pernod Ricard

Philips

Procter & Gamble

Puma

PVH

Qantas

Qorvo

Qualcomm

Ralph Lauren

Royal Caribbean

Sanderson Farms

Shake Shack

Singapore Airlines

Skechers

Skyworks Solutions

Sony

Southwest Airlines

Standard Chartered

Starbucks

Tapestry

Taubman Centers

Teck Resources

Tenneco

Tesla

Tiffany

Toll Brothers

Toyota Motor

Trivago

Under Armour

United Airlines

Universal Display

UPS

Urban Outfitters

VF

Visa

Walmart

Weibo

Whirlpool

Wyndham Hotels

Wynn Resorts

Xylem

Yum Brands

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