Coronavirus update: new outbreaks have been reported in states that plan to reopen soon, while Trump suggests tests are “overvalued”

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The death toll in the US from the coronavirus responsible for COVID-19 surpassed 86,000 on Friday, as new outbreaks were reported in states where home orders are scheduled to expire and others that have never enforced them .

Minnesota is expected to lift the foreclosure measures in mid-May, although cases continue to escalate. Iowa, which did not apply movement restrictions, registered another 386 cases on Thursday, and its infection curve does not flatten, according to a New York Times tracker. Nebraska has seen the number of cases more than double since April 30, while large cities like Los Angeles and Chicago still suffer many deaths.

To find out more, read:States reopen after coronavirus closings: some New York counties open Friday; New Jersey and Delaware beaches to reopen for vacation weekend
Health officials, including Dr. Anthony Fauci, the country’s leading infectious disease specialist, continue to warn that moving too quickly to reopen factories, offices and shops could lead to deaths and deaths. unnecessary suffering – and also disrupt any economic recovery. Fauci and others have always warned that the reopening should be done using tests and contact tracing to avoid a second wave of infections worse than the first.

President Donald Trump said Thursday night that the tests were “overvalued”.


Over 30 countries rank higher than the United States in terms of per capita testing.

“We have more cases than anyone in the world, but why? Because we are doing more testing, “said Trump in comments to workers at Owens & Minor Inc.
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medical supply plant in Allentown, Pennsylvania. “When you test, you have a case. When you test, you find that something is wrong with people. If we didn’t do any testing, we would have very few cases. They [the media] I don’t want to write this. It’s common sense. We are testing a lot more. “
Critics on social media noted a flaw in the President’s logic:

Others have observed that the United States has lagged behind in tests when measured per capita and is far behind countries like South Korea and Germany that have managed to contain their infection rates. More than 30 countries rank higher than the United States in terms of per capita testing, according to Worldometers.info.
” The [Trump administration] is obsessed with magic bullets – vaccines, new drugs or the hope that the virus will simply go away, “the medical journal The Lancet wrote on Friday. “But only constant dependence on basic principles of public health, such as testing, tracing and isolation, will put an end to the emergency, which requires an effective national public health agency,” he said. he said in an article on how the Centers for Disease Prevention and Control were put aside and his reputation was damaged during the pandemic.
The original CDC test lot was defective and had to be replaced, delaying the initial effort. Since then, the agency has disagreed with advisers to the federal government, including Dr. Deborah Birx, head of the US task force COVID-19, which was recently reported by the Washington Post: “There is nothing from CDC who I can believe. “
It is a “useless statement,” according to The Lancet, “but also a shocking indictment from an agency that was once regarded as the gold standard for detecting and controlling disease worldwide. How has an agency that has been the first point of contact for many national health authorities facing a public health threat become so ill-prepared to protect public health? “
There has been other bad news from the US Food and Drug Administration, which said Thursday night that it was investigating preliminary data suggesting Abbot Laboratories
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-2.05%

A 15-minute test can miss COVID-19 cases, falsely eliminating infected patients, as reported by the Associated Press. The test is used daily at the White House to test President Donald Trump and key members of his staff, including the Coronavirus Task Force.
It is also used in thousands of hospitals, clinics and test sites in the United States.
Abbott Labs said Friday it is continuing the test.

Latest counts

There are now 4.50 million cases of COVID-19 worldwide and 304,835 people have died, according to aggregated data from Johns Hopkins University. At least 1.6 million people have recovered.
The United States has the highest number of cases (1.43 million) and the highest number of deaths (86,744).
Russia has the second highest number of cases with 262,843, after another 10,000 were counted overnight. The death toll in Russia is only 2,418, according to official government information.
The UK has 238,003 cases and 34,077 deaths, the highest number of deaths in Europe and the second highest in the world after the United States.
Spain has 230,183 cases and 27,459 deaths, while Italy has 223,885 cases and 31,610 deaths.
Brazil experienced a new outbreak overnight and now has 208,031 cases and 14,267 deaths. France has 178,994 cases and 27,428 deaths, while Germany has 175,233 cases and 7,897 deaths. Slovenia has become the first European country to officially call for an end to its coronavirus epidemic, reopening to European Union citizens from neighboring Italy, Hungary and Austria.
Turkey has 146,457 cases and 4,055 deaths, and Iran has 116,635 cases and 6,902 deaths. India is ahead of China, where the disease was first reported at the end of last year, according to the number of cases.
India has 85,760 cases and 2,753, while China has 84,031 cases and 4,637 deaths.
New York is still the US epicenter with 348,192 cases and 27,617 deaths, according to New York Times data. Governor Andrew Cuomo announced a gradual reopening of the state, which begins with five regions where the infection rate can be managed, according to a checklist of parameters that the state has asked regions to monitor daily.
The state’s break order is in effect until May 28, as the Buffalo News and others have reported.

What is the latest medical news?

The National Institute of Allergies and Infectious Diseases (NIAID) has launched a clinical trial testing hydroxychloroquine and azithromycin in 2,000 patients with mild and moderate COVID-19.
Hydroxychloroquine is approved by the Food and Drug Administration to treat malaria, lupus and rheumatoid arthritis; azithromycin is a commonly prescribed antibiotic.
The trial was announced Thursday during the testimony of Dr. Rick Bright before a committee of the House of Representatives. Bright has filed a whistleblower complaint alleging that his reluctance to promote hydroxychloroquine as a treatment for COVID-19, as Trump has publicly argued on several occasions, led to his demotion at the National Institutes of Health.
Teva Pharmaceutical Industries Ltd.
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+ 2.18%

donates hydroxychloroquine for the test, which assesses whether the combination of drugs can prevent hospitalization and death.
“While there is anecdotal evidence that hydroxychloroquine and azithromycin may benefit people with COVID-19, we need solid data from a large randomized controlled clinical trial to determine whether this experimental treatment is safe and can improve clinical outcomes, “said NIAID director Fauci in a statement.
In March, the FDA granted emergency use authorization for hydroxychloroquine and chloroquine as COVID-19 treatments. More recently, the regulator has authorized the
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remdesivir as a COVID-19 treatment; however, there are no therapies approved by the FDA to treat the disease.
Do not miss:These 23 companies are working on coronavirus treatments or vaccines – here’s where it goes
The American Medical Association has said that antibody tests should not be used to determine immunity against future infections with the new coronavirus or to advocate for less stringent social distancing rules. Serological tests, which test for past infections with COVID-19, can be used to help determine the prevalence of the disease in the U.S. population, but the prevalence of false positives and cross-reactivity (when a test identifies antibodies for other coronaviruses, such as the one that causes colds) are of concern.
WADA, which is the largest lobbying organization for physicians in the United States, also said that antibody tests should not be used to form the basis of “certificates of immunity”, a concept that would allow people who test positive for COVID-19 antibodies to move around more. freely in their communities. He also warned doctors to check if a serology test has been authorized by the Food and Drug Administration, which recently cracked down on the way it regulates manufacturers of antibody tests.
Hologic Inc.
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+ 1.01%

On Friday, he received his second Emergency Use Authorization, or EUA, for an FDA COVID-19 test. Hologic plans to produce an average of one million tests per week. Funding from the Biomedical Advanced Research and Development Authority was used to develop the test. The company previously received an EUA for a COVID-19 molecular test in mid-March.

What does the economy say?

Retail sales fell by a record 16.4% in April after the pandemic blocked a large part of the economy, cost millions of jobs and cause unprecedented drops in consumer spending, like the Jeffry Bartash of MarketWatch reported.
Retail sales fell in all categories except online shopping, the government announced on Friday. Sales also fell 8.3% in March, easily marking the worst consecutive declines in modern American history. Economists polled by MarketWatch expect a drop of 12.5%
“While states are already starting to reopen their economies, although at different speeds, or at least expect such a decision, retail sales should begin to stabilize and rebound in the coming months,” said l Senior Economist Andrew Grantham of CIBC Capital Markets. However, he warned that the rebound will be much slower than the collapse in spending.
The Empire State of the New York Fed’s economic conditions index rose 29.7 points to -48.5 in May, the Fed’s regional bank announced on Friday. This is the second lowest reading ever recorded. Economists expected a reading of -65, according to an Econoday survey. Any reading below zero indicates a deterioration in conditions.
To find out more, read:Empire State index shows activity continued to decline sharply in May
Consumer sentiment improved slightly in early May after a two-month free fall, as some states began reopening economies and stimulus checks began to arrive. The preliminary reading of the Consumer Sentiment Survey in May edged up to 73.7 from 71.8 in April, the University of Michigan announced on Friday. Economists had forecast a slight decline.
See now:Almost half of workers who lost their jobs due to COVID-19 “find it hard to cope,” says Fed survey

What are companies saying?

J.C. Penney
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+ 21.24%

announced Friday that it had made a $ 17 million interest payment on May 14 to avoid a default event and that it is continuing to evaluate its strategic options. The news encouraged investors who expected the struggling department store chain to go bankrupt, following statements by Neiman Marcus and J. Crew last week.
Elsewhere, companies continued to offer updates on reopening their businesses, cutting costs and withdrawing guidance, and worried about the uncertain prospects for recovery.
Here are the latest statements from companies about COVID-19:
• Applied Materials Inc.
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-4.39%

released mixed fiscal second quarter earnings results lower than Wall Street estimates. Applied Materials reported net earnings of $ 755 million, or 82 cents per share, compared to net earnings of $ 666 million, or 70 cents per share, for the quarter last year. Revenue increased 12% to $ 3.96 billion from $ 3.54 billion a year ago. Analysts polled by FactSet expected net earnings of 93 cents per share on sales of $ 4.09 billion.
• Boeing Co.
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-2.05%

appointed Mike Delaney to lead “The Society’s Confident Travel Initiative to Develop” New Solutions to Help Minimize Health Risks from Air Travel in the Midst of the COVID-19 Pandemic and Raise Awareness of health protection measures already in place ”. Delaney is currently Vice President of Digital Transformation in the Boeing commercial aircraft unit. The team will work with operators to provide advice on existing and approved disinfectants compatible with decks and flight cabins as well as on testing of other disinfectants.
• Conagra Brands Inc.
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+ 1.00%

has provided a sales update for its fourth fiscal quarter to date until May 3, with the seller of processed and packaged foods indicating that total retail sales increased 37.2% from a year ago a year. For the 10-week period ended May 3, retail sales of frozen foods increased 29.7%, while sales of frozen meals, which include single and multi-service meals, increased 27.1% . Retail sales of snacks increased 20.4% and core brand sales, which include grocery and refrigeration brands, jumped 53.5%. The sales update is in conjunction with Conagra’s investor meeting scheduled for Friday.
• Denny’s Corp.
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+ 4.56%

released first quarter profits above Wall Street estimates, although revenues fell 36%. During the pandemic crisis, the restaurant chain opted for simplified menus, “Dine-Thru” curbside service programs and shareable family meal packs.
• Dillard’s Inc.
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+ 12.00%

recorded a lower than expected tax loss in the first quarter as well as the reopening of stores. The retailer says it plans to reopen 116 stores and five customs clearance centers next week. Once opened, the company will have 241 stores and 29 customs clearance centers in operation. “COVID-19 has had an impact on all aspects of our business. Business activities in shopping malls in general and department stores in particular have been particularly affected, “said Dillard general manager William T. Dillard II in a statement.
• Gambling and fantasy sports company DraftKings Inc.
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+ 15.48%

posted a larger-than-expected loss for the first quarter and sales that were behind schedule as live sporting events were canceled due to the pandemic. The company, which was made public in April via a $ 6 billion valuation merger, said revenues had jumped 30% despite the effects of COVID-19. The company continued to progress on its priorities, including entering new states and investing in products and technologies to create more live bets for sports based in the United States. The company has created products that allow customers to engage in fantasy sports and betting on eNASCAR, Counter Strike and Rocket League, as well as pop culture events such as the TV shows “Survivor”, “The Last Dance “and” Top Chef “. The company does not anticipate any impact on fiscal year 2020 or long-term plans due to COVID-19, “he said in a statement.
• Farfetch Ltd.
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-11.26%

posted a lower than expected quarterly loss and sales that beat the sights. The company is “well capitalized” to continue on the path of adjusted profits for the year 2021. The investments it has made to build its global platform, such as global logistics and a diversified supply network, paid off during the pandemic. This enabled “the continuity of our operations and the delivery of our solid results for the first quarter of 2020. Although the pandemic had no” significant impact “on the performance of the first quarter, the uncertainty linked to the evolution of the crisis prevents society from providing guidance.
• The American cannabis company Green Thumb Industries Inc.
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+ 15.27%
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+ 15.23%

it more than tripled its revenues in the first quarter as it continued to cut losses. The company said it had $ 71.5 million in cash and cash equivalents at the end of March and total debt of $ 92.9 million.
• Kroger Co.
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-0.82%

has hired 100,000 people in the past eight weeks, adding to the 460,000 workers the grocer had before the COVID-19 epidemic. Kroger has spent $ 700 million in associate wages and guarantees against the spread of the coronavirus since March. Hiring started quickly, with the company hiring 30,000 by April 1. Part of this investment was a “hero bonus”, a $ 2 an hour wage increase for workers that will end in mid-May. “Over the next few months, we know that the needs of our associates will continue to evolve and change as our country recovers,” the company said in a statement. “We continuously assess the compensation and benefits of employees. Our average hourly wage is $ 15 and, taking into account benefits such as health care, hourly wages are over $ 20. “
• The New York Stock Exchange will reopen its trading floor to “a subset” of stock brokers on May 26, with new security measures, said Stacey Cunningham, the stock exchange president, in a Wall Street column Newspaper. The NYSE, owned by the Intercontinental Exchange
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+ 0.23%,
has been limited to electronic commerce since the dealing room closed in response to the pandemic on March 23. “We chose to temporarily close our floor in the early days of the pandemic to help slow the spread of the disease. Two months later, we have learned a lot and are able to reopen the floor with vital new security measures as we begin to work together to restart the US economy, “wrote Cunningham.
• Nike Inc.
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+ 0.50%

strong online sales are taking over for sluggish or non-existent store sales. Over 95% of its stores in China and South Korea are open, some still operating on reduced hours. Pedestrian traffic remains lower than in recent years, but this has been offset by higher conversion rates and online sales. Outside of China and South Korea, most Nike stores are closed to slow the spread of the coronavirus. This has resulted in “significantly lower” wholesale revenues and higher inventories, said Nike. Some stores in countries like Brazil, France, Germany and the United States have reopened, some also operating on reduced hours. In anticipation of further reopenings, Nike has implemented social distancing and traffic control measures, provided additional cleanliness of products and facilities, and provided face blankets to its retail employees.
• Vans and North Face, parent company VF Corp.
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-6.27%

released fiscal fourth quarter results that did not meet expectations as the pandemic reduced consumer demand. External revenue, which includes North Face, fell 15% to $ 848.3 million, below the FactSet consensus of $ 919.9 million, and active revenue, which includes vans, fell 9% to $ 1.03 billion for not meeting the expectations of $ 1.07 billion. VF said it could not provide financial advice given the uncertainties associated with COVID-19. In addition, the company declared a regular dividend of 48 cents per share, payable June 22 to shareholders registered June 10.

Big Tech and Small Business Vs. Covid-19

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