Coronavirus live updates: Fears fuel sell-off, new California case, United postpones investor day

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All times below are in Eastern time.

  • Total confirmed cases: More than 83,700
  • Total deaths: At least 2,859

United Airlines has decided to postpone its investor day which was scheduled for next week given the uncertainty the coronavirus outbreak has created on booking and revenue projections. Earlier this week United pulled its 2020 guidance to the uncertainty created by Coronavirus. United shares were down Friday as airlines continued their sharp declines of the week as worries of a broader slowdown in travel demand rattles investors. United also cut its Asia service amid a sharp drop in demand to the region. —LeBeau

The State Department on Friday asked citizens to “reconsider travel to Italy” due to the coronavirus outbreak. “Many cases of COVID-19 have been associated with travel to or from mainland China or close contact with a travel-related case, but sustained community spread has been reported in Italy,’ the State Department advisory said. “Sustained community spread means that people have been infected with the virus, but how or where they became infected is not known, and the spread is ongoing. At this time, CDC recommends avoiding non-essential travel to Italy.” —Bhattacharjee

The Santa Clara Public Health Department announced a third case of coronavirus in the county, which brings the total number of coronavirus cases in California to 10 and the total number of cases in the U.S. to 63, which includes passengers of the Diamond Princess cruise ship and evacuees from Wuhan, China. County Officials will hold a press conference at 7 p.m. to discuss more details. —Bhattacharjee

In any virus outbreak, there is sure to be plenty of misinformation that circulates, but it usually isn’t about beer. Constellation Brands, which sells Corona Extra beer, put out a press release Friday that said any worries about its beer sales are “unfounded.” In fact, the brand’s sales are up 5% for the four weeks ended Feb. 16, outpacing its trend over the past year. Earlier, ad agency 5WPR said it polled 737 people over the phone and found 16% were confused about whether Corona beer was some somehow related to the novel coronavirus. “We’ve seen no impact to our people, facilities or operations and our business continues to perform very well,” the company said, adding it doesn’t have much exposure to international markets. —Cheddar Berk

Source: https://www.cnbc.com/2020/02/28/coronavirus-latest-updates-outbreak.html

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