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MarketWatch MarketPulseJun 03, 2020
Coronavirus update: Global cases of COVID-19 above 6.4 million, with 380,764 fatalities
The global case tally for the coronavirus that causes COVID-19 climbed to 6.4 million on Wednesday, according to data aggregated by Johns Hopkins University. The death toll rose to 3780,764. More than 2.7 million people have recovered. The U.S. has the highest case toll in the world at 1.83 million and the highest death toll at 106,181. Brazil has 555,383 cases and 31,199 fatalities, after another spike in infections overnight. Russia has 431,715 cases and 5,208 fatalities. The U.K. has 279,393 cases and 39,452 deaths, the highest death toll in Europe and second highest in the world after the U.S. Spain has 239,932 cases and 27,127 deaths, while Italy has 233,515 cases and 33,530 deaths. India, which passed France and Germany by cases earlier this week, has 208,479 and 5,834 deaths. France has 188,450 cases and 28,943 deaths, while Germany has 184,097 cases and 8,576 deaths. Peru, Turkey, Iran, Chile, Mexico, Canada and Saudi Arabia are next, all ahead of China, where the illness was first reported late last year. China has 84,159 cases and 4,638 deaths.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Yahoo BusinessJun 03, 2020
Zoom Lifts Full-Year Sales Guidance As Quarterly Revenue Balloons 169%
Popular video-conferencing company Zoom Video Communications (ZM) far outpaced sales expectations in the first quarter as millions of users flocked to use its technology to host business and social meetings during the coronavirus pandemic.First-quarter revenue surged 169% to $328.2 million year-on-year, beating analysts' estimates of $202.7 million. Zoom now hasĀ about 265,400 customers with more than 10 employees, up about 354% from the same quarter last fiscal year."The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom," said Zoom founder and CEO Eric S. Yuan. "Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives. We also supported an unprecedented number of free participants, including over 100,000 K-12 schools."Commenting on the earnings, five-star analyst Ittai Kidron at Oppenheimer, said that while Zoom reported "exceptional" results, "its gross margin significantly contracted (-1,480bps QoQ and -1,149bps YoY) due to high levels of free meeting minutes (K-12 schools) and increased public cloud hosting costs". Indeed, cost of revenue in the first quarter skyrocketed 330% to $103.7 million year-on-year.Shares rose 1.9% to close at $208.08 ahead of the earnings release on Tuesday and dropped 1.7% in after-market trading.Looking ahead, the company raised its full-year revenue forecast to a range of $1.78 billion to $1.80 billion from $905 million to $915 million. This compares w

Reuters Company NewsJun 03, 2020
UPDATE 3-India approves Gilead's remdesivir to treat severe COVID-19 cases
India's government has approved Gilead Sciences Inc's antiviral drug remdesivir for emergency use for five doses in treating COVID-19 patients.
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