Monday’s Headlines: Apple Could Have An iPhone Shortage 📱

Monday’s Headlines: Apple Could Have An iPhone Shortage 📱

1. Apple’s decision to temporarily shutter its stores in China as a result of the new coronavirus could delay up to 1 million iPhone sales. Its stock price fell more than 4% on Friday in line with much of the market as fears of the virus’ spread escalated, with the closure news adding fuel to the fire. The company reported blowout earnings on Tuesday but issued guidance with a wider range than is typical, which CEO Tim Cook attributed to uncertainty around the new flu-like infection. Read more...

2. 2. Roku and Fox reached an 11th-hour deal to keep Fox’s channels on the streaming platform ahead of the Super Bowl last night. Roku shares fell more than 7% on Friday due to uncertainty surrounding the deal. Fox Corp. said in a statement late Friday, “We are pleased to have reached a successful agreement with Roku. Fox’s leading suite of apps will continue to be available on the Roku platform.”  Read more...

3. IBM shares jumped as much as 5% on Friday after the company said Arvind Krishna is becoming its 10th CEO, replacing Virginia “Ginni” Rometty as of April 6. Rometty became IBM president and CEO on January 1, 2012, replacing Sam Palmisano, after heading up various marketing and strategy departments. During her tenure as CEO IBM’s stock has fallen about 26%, while the S&P 500 has grown 160%. Read more...

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