Megacap tech names have posted strong results, but cyclical companies with global exposure are seeing estimates decreased amid the coronavirus outbreak.
Canada Goose Holdings Inc said on Friday lower store traffic in China and travel restrictions due to the coronavirus epidemic would impact its revenue and lead to a smaller profit in 2020, sending its shares down 4%.
Coach handbag maker Tapestry Inc cut its annual profit forecast on Thursday, citing an up to $250 million hit to sales from the coronavirus outbreak that has forced it to close a majority of its stores in mainland China.
Fiat Chrysler posted a 7% rise in fourth-quarter profit on Thursday, boosted by strong business in North America and better results in Latin America as it heads into a merger with France's PSA.
Toyota Motor nudged up its annual operating profit forecast by 4.2% on favorable currency rates and better-than-expected sales, but added the impact of the new coronavirus was hard to gauge and had not yet been factored in.
Fox Corporation said breaking news coverage of the impeachment hearings for president Donald Trump was part of the reason its cable ad revenue fell 5% in its second quarter.
Peloton shares plummeted after the fitness company's second earnings report since its public debut in September showed mounting losses and slowing revenue growth.
Michael Kors owner Capri Holdings cut its forecasts on Wednesday as it warned of a $100 million hit to revenue due to the coronavirus outbreak in China.
GlaxoSmithKline on Wednesday reported quarterly profit that fell short of analysts' expectations because of pricing pressure, mainly hitting its respiratory drugs.
Diabetes drug maker Novo Nordisk said on Wednesday it expects its business to grow at a slower pace in 2020 compared to last year with insulin prices in the U.S. likely to remain under pressure.