COVID-19 Impact

Goals

Articles, news, and press releases published within the past 30 days discussing earning reports, analyst reports, and relevant topics about how the listed companies and industries are doing amid the COVID-19 pandemic, as well as, statements and announcements they have made to mitigate the risks.

Early Findings

Automotive

  • Published on April 2nd, 2020, this article discusses different ways the automotive industry has been hit by the pandemic.
  • According to the article, there has been a decline in the demand for cars and bikes due to the imposed lockdowns and curfews. People are reportedly not seeing the need to purchase vehicles.
  • Additionally, countries are shiutting down their manufacturing factories, some of which make cars.

Hospitality

  • This article was published on the 25th of April, it mentions that roughly 70% of hotel employees have been furloughed or laid off, accounting for $2.4 billion in loss wages.
  • Executives like Mark Durliat, CEO and cofounder of Grace Bay Resorts in Turks and Caicos, are planning outdoor and pool events/activities because they predict that people will want to be in open spaces or outside, rather than being confined indoors.
  • "We know our guests are excited to get back to our hotels when travel resumes, but they may be looking to conserve on spending," David Bowd, CEO of Salt Hotels and operator of The Asbury and Asbury Ocean Club in Asbury Park, New Jersey, told Business Insider.

SUMMARY

  • Our initial research revealed that there is indeed news related to COVID-19 effects on the specified companies and industries.
  • Due to time constraints, we were only able to touch on two industries.

Proposed next steps:

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