The number of confirmed cases of coronavirus disease, COVID-19, rose to over 14 million on Saturday as the United States again had a record number of cases in a single day and regions around the world resumed restrictions on movement in a fight against spread.
According to Johns Hopkins University, the number of cases in Brazil continued to rise to over 2 million, while India rose to 1.04 million. In Spain, an early focus of the pandemic, residents of Barcelona were asked to stay at home and not to gather after an increase in new cases.
Israel again introduced blocking measures and ordered stores, hairdressers and gyms to be closed, the Guardian reported. According to Bloomberg, Hong Kong had a record 63 new cases, and the government continued to close bars and beaches.
The US counted over 76,000 cases overnight to set a new world record for most in a single day. Florida, the new U.S. hotspot, added another 11,000 new cases overnight and, according to a New York Times tracker, now has 327,233 with 4,804 deaths, or 387 per week per 100,000. Miami-Dade Country, the state's epicenter, has 77,866 cases weekly, 2,866 deaths, and a mortality rate of 719 per 100,000 people.
Texas added more than 10,000 new cases on a fourth day in a row. In Georgia, governor Brian Kemp sued Atlanta mayor Keisha Lance Bottoms and the city council to prevent the city from enforcing its public mask mandate and other pandemic-related rules, the Associated Press reported.
Kemp is not in line with other states that face increasing cases and require face masks. The latest steps are Colorado and Arkansas. Companies, including Walmart, Kroger Co., Target Co., and Best Buy, have announced new guidelines that require customers to wear face masks. According to public health experts, this is a crucial step to stop the virus from spreading, along with regular hand washing and social distancing.
A new ABC poll in Washington found that most Americans are unhappy with President Donald Trump's handling of the pandemic and their attitudes worsen as cases increase across the country. A full 66% of respondents said they disapprove of his management of the outbreak, compared with 53% in May and 45% in March.
More than half of the respondents, or 52%, said they strongly disapproved, about twice as many as in March.
Dr. Ezekiel Emanuel of the University of Pennsylvania, oncologist, bioethicist, and senior fellow at the Center for American Progress, said the US has been squandered for the past four months, with the possible exception of finding dexamethasone plants and Gilead Science Holdings Inc.
Remdesivir can reduce the length of stay in hospital.
In an interview with MSNBC, Emanuel said he did not expect the US to return to normal "in an optimistic scenario" by November 2021.
Emanuel is one of the signatories to an open letter to the United States leaders, this time about switching off, starting over, and doing it right. The letter was also written by Harvard T.H. William Hanage of the Chan School of Public Health, Seth Trueger of Northwestern University, MPH, and Reshma Ramachandran of the Yale School of Medicine, MPP.
"Our decision makers have to push the reset button," said Matt Wellington, director of the Public Health Research Campaigns at PIRG (Public Interest Research Groups). "If we continue on our path so far, it will result in widespread suffering and death. And what for? Health experts have set criteria for safe reopening. It's time to listen to them."
The U.S. PIRG plans to collect more signatures next week before delivering the letter to a number of governors, Congress leaders, and the Trump administration.
A document drawn up for the White House Task Force set up to deal with the crisis sustained by the nonprofit center for public integrity recommends that 18 states take back their reopening measures as the number of cases increases. The states were found to be in a red zone, defined as "those core-based statistical areas (CBSAs) and counties where both new cases over 100 per 100,000 population and a positive diagnostic test result over 10% in the past week were reported. . ”
The states mentioned are Alabama, Arkansas, Arizona, California, Florida, Georgia, Iowa, Idaho, Kansas, Louisiana, Mississippi, North Carolina, Nevada, Oklahoma, South Carolina, Tennessee, Texas and Utah.
The document does not correspond to the White House rhetoric. Trump mainly focused on demanding that schools be reopened in the fall against the advice of his own health experts.
According to Johns Hopkins, there are 14.1 million confirmed cases of COVID-19 worldwide and at least 597,361 people have died. At least 7.9 million people have recovered.
The USA accounts for around a quarter of the cases with 3.65 million and has the highest number of fatalities with 139,302. Brazil ranks second with 2.05 million cases and 77,851 deaths.
India ranks third with 1.03 million cases, followed by Russia with 764,215 and Peru with 345,537. Britain has 45,318 deaths, the highest in Europe and the third highest in the world. In China, where the disease was first reported at the end of last year, there are 85,314 cases and 4,644 deaths.
South Korea's key weapon against the pandemic? Smartphones
What is the latest medical news?
The National Governors Association is calling on the Trump administration to postpone a rapidly implemented rule that changes the way hospitals report COVID-19 data to the federal government for 30 days, Jaimy Lee of MarketWatch reported.
The rule enacted on July 10 came into force on July 15. She urges hospitals to report data to the Ministry of Health and Human Services now, rather than to the Centers for Disease Control and Prevention, as they have since March.
The change in reporting has been received with concerns that the decision is politically motivated and lacks transparency about how the change will improve the government's data collection process. There are also concerns that data on hospital capacity and other metrics used by researchers are no longer being published.
Continue reading: Rule change for coronavirus reporting by hospitals to government comes under fire
"The governors are calling for a 30-day delay in these new requirements so that hospitals can learn a new system while continuing to deal with this pandemic," said the organization. "In addition, the governors are asking the administration to make this information publicly available."
Regardless, a clinical trial that tested hydroxychloroquine in 491 people with mild cases of COVID-19 found that the malaria drug did not reduce the severity of symptoms compared to placebo.
The University of Minnesota Medical School's randomized, placebo-controlled study was published on Thursday in the Annals of Internal Medicine. People took part in the study within the first four days after symptoms of infection appeared. The study's authors stated that the research had a limitation. Only about 60% of participants were tested for COVID-19 because of “severe US test deficiencies” at the time of the study.
The other participants had symptoms and reported exposure to someone who tested positive for the virus.
"There is no convincing evidence that hydroxychloroquine can either prevent COVID-19 after exposure or reduce the severity of the disease after developing early symptoms," said Dr. Caleb Skipper, lead author of the study. Scholarship holder for paper and infectious diseases, who studies at Boulware.
A growing body of research shows that hydroxychloroquine is not an effective treatment for COVID-19 patients.
What do companies say?
The winning season continued with the latest figures from streaming giant Netflix Inc.
One of the pandemic's clear winners as subscriptions have skyrocketed as home stay orders have encouraged many to turn to the service's extensive content library.
Netflix outperformed new subscribers by 10.1 million, ahead of the expected 8.21 million FactSet analysts. The company also exceeded sales estimates, even though its winning number was insufficient. However, it was a weaker than expected forecast for the rest of the year that caused the stock to go down in over-the-counter trading, a trend that continued into the Friday session.
In a letter to shareholders, Netflix executives admitted that earnings in the first half of the year were likely to be ahead of later in the year, which means fewer new subscribers will be added in the rest of 2020, MarketWatch Jon Swartz said.
"In the first and second quarters, we saw a significant drop in our underlying rollout, which led to tremendous growth in the first half of this year (26 million paid net additions compared to 12 million last year)," the executives said in the letter. "As a result, we expect lower growth in the second half of 2020 than in the previous year."
Netflix is deepening its concerns and expects the production of original shows and films to be interrupted in the first half of 2021, based on the long production schedule for content with lead times.
Netflix also announced a major change to its executive suite: Ted Sarandos, who led its efforts on the original content, was named co-CEO to share the top spot with co-founder Reed Hastings.
"This change is formal, which was informal – that Ted and I share leadership of Netflix," Hastings said in the letter.
Read now:Netflix has promoted its Mr. Hollywood to co-CEO and shows how important original content is
In other countries, cruise ship ownership fell after the CDC extended its No Sail Order cruise ship until September. The previous order for the CDC expired on July 24th.
Norwegian Cruise Line Holdings Ltd.
Royal Caribbean Cruises Ltd.
and Carnival Corp.
everyone moved deeper.
Patrick Scholes, an analyst at SunTrust Robinson Humphrey, said the CDC's expanded order should "come as no surprise" as the Cruise Lines International Association announced last month an agreement to voluntarily extend the suspension of US port operations until September . fifteen.
"We continue to believe that the number of trips in North America will only increase again in the second quarter of 21," Scholes wrote in a message to customers. "We then reaffirm our belief that investors will continue to be disappointed as further delays in the launch date are announced."
Here is the latest company and COVID-19 news:
• LendingTree Inc.
raises its outlook for the quarter as low interest rates drive mortgage refinancing. The company forecast sales of $ 182 to $ 186 million over the previous forecast range of $ 160 to $ 175 million. Analysts interviewed by FactSet expect sales of $ 170.8 million. "In our three reportable segments, much of the strength was borne by our home business, where low interest rates sparked a strong consumer interest in refinancing and product innovation. This allowed us to retain more lender capacity than we have seen before." said LendingTree CFO JD Moriarty.
• PPG Industries Inc.
The paints and coatings company reported adjusted earnings and sales in the second quarter, some of which exceeded Wall Street expectations as do-it-yourselfers searched for more of their home paints during the pandemic. Selling prices rose nearly 2%, but sales volumes decreased 24%, reflecting the economic impact of the pandemic. Global architectural coatings business performed best thanks to the increased demand for PPG paint products in all major do-it-yourself regions. The demand for architectural coatings is expected to continue, but at a more moderate pace. "We continue to expect solid recovery patterns in demand from automakers and general industrial coatings in the United States and Europe, which are still below the 2019 level," it said. PPG ended the quarter with approximately $ 2.3 billion in cash and short-term investments and reduced its net debt by approximately $ 300 million from the previous quarter.
Regions Financial Corp.
reported a surprising second quarter loss as loan loss provisions exceeded expectations, although sales grew faster than forecast. The bank recorded a net loss of $ 237 million, or 25 cents per share, from a net profit of $ 374 million, or 37 cents per share, in the prior-year period. The FactSet consensus was for a loss of 5 cents per share. Total revenue increased 7.6% to $ 1.55 billion as net interest income increased 3.0% to $ 985 million to exceed the FactSet consensus of $ 969.5 million and noninterest income increased 16% to $ 573 million to exceed expectations of $ 489.6 million. The net interest margin fell from 3.45% to 3.19% to miss expectations of 3.26%. The provision for credit losses increased from $ 92 million to $ 882 million, exceeding the FactSet consensus of $ 514.2 million. Costs for COVID-19 for the quarter were $ 19 million, compared to $ 4 million in the first quarter.
• Credit Suisse doubled its Tesla Inc. stock target.
from $ 700 on Friday to $ 1,400, saying the stock was "perfectly valued", meaning that any material disruption would lead to a correction. The Tesla share has gained an impressive 259% so far this year, while the S&P 500
fell 0.5%, reflecting the "euphoria" about electric vehicles during the pandemic, a number of promising data points and the growing interest of retail investors who have become more active during the pandemic. Upcoming positive catalysts include Battery Day, where Tesla is expected to launch a long-life battery for its future vehicles, and second-quarter earnings, which may be profitable, said analysts Dan Levy and AJ Denham. The company is expected to announce plans to expand capacity and double them from the current 700,000 vehicles to 1.3 million, according to the analysts. In order to justify the current stock price, Tesla has to raise a bar and show that it will produce 2.2 million cars by 2025, which equates it to German automakers. As the most valuable car brand in the world, it has to meet high expectations, they wrote.
• According to a Wall Street Journal report, Vox Media is firing around 70 people due to the economic impact of the COVID-19 pandemic. This corresponds to approximately 6% of the staff of the editor of the New York magazine SB Nation and the Verge. The cuts mainly affect those who were on vacation as a result of the pandemic in April, but also some employees who were not on vacation. CEO Jim Bankoff told employees that the second half of the year would not recover close to the predictions prior to COVID and that the timing and strength of a recovery will only be seen to a limited extent when new cases emerge and many elected leaders avoid resolute action.
Additional reporting from Tim Rostan