Philippines jails: Many inmates, staff test positive for COVID-19
The coronavirus is spreading rapidly in some of the world’s most congested jails in the Philippines.
Jails in the Philippines are among the most overcrowded in the world, and that is making it difficult to manage the spread of the novel coronavirus.
Several inmates have tested positive, along with some prison staff. Analysts say, unless conditions change, the number of cases will rise.
Al Jazeera’s Jamela Alindogan reports from the Philippines capital, Manila.
Kenya floods: At least 22 missing after landslide
Flash floods leave a trail of destruction, with several people dead and many displaced.
A search operation is under way in western Kenya for at least 22 people who disappeared during a devastating flash flood.
Homes and markets were swept away after the rain triggered a landslide, killing 12 people.
The disaster is in the same area where a landslide had killed dozens of Kenyans five months ago.
Al Jazeera’s Catherin Soi reports from western Kenya.
Gold Prices Fall Over 1% On Stronger Dollar
Gold prices fell sharply on Tuesday as the dollar continued to strengthen amid renewed concerns over the impact of coronavirus outbreak on the global economy.
Spot gold fell over 1 percent to $1,678.40 per ounce, while U.S. gold futures were down 1.3 percent at $1,688.55.
Risk sentiment was hit after the World Health Organization chief warned that “the worst is yet ahead of us” in the coronavirus outbreak and that “it’s a virus that many people still don’t understand.”
A historic plunge in oil prices overnight, dismal first-quarter earnings reports and U.S. President Donald Trump’s comments that he would sign an executive order to temporarily suspend immigration into the United States also weighed on investors’ appetite for riskier assets.
On the positive side, media reports suggest that the U.S. Congress is nearing a $450 billion deal to help small businesses and hospitals hurt by the coronavirus pandemic.
LabCorp’s COVID-19 At-Home Test Kit Receives EUA From FDA – Quick Facts
Life sciences company LabCorp (LH) announced Tuesday that it has received an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for its COVID-19 at-home test kit.
The EUA permits nasal swab specimens to be collected at home using the Pixel by LabCorp COVID-19 test home collection kit, if recommended by a healthcare provider.
The kits will be offered through the company’s Pixel by LabCorp platform and initially be made available to healthcare workers and first responders who may have been exposed to COVID-19 or may be symptomatic. LabCorp intends to make COVID-19 self-collection kits available to consumers in the coming weeks.
The test kit is part of the company’s continued commitment to increase the supply and availability of tests for healthcare workers and first responders who have symptoms consistent with COVID-19.
Enabling individuals to self-administer sample collection will help prevent the risk of transmitting the virus to others and reduces the demand for personal protective equipment (PPE) as the tests do not require a clinician to perform the test collection.
LabCorp’s COVID-19 test home collection kit has not been FDA cleared or approved, but has been authorized by FDA under a EUA. It has been authorized only for the detection of nucleic acid from SARS-CoV-2, not for any other viruses or pathogens.
ProLogis Q1 adjusted earnings of $0.83 per share
ProLogis (PLD) revealed a profit for its first quarter that advanced from the same period last year.
The company’s earnings totaled $489.42 million, or $0.70 per share. This compares with $347.05 million, or $0.55 per share, in last year’s first quarter.
Excluding items, ProLogis reported adjusted earnings of $599.22 million or $0.83 per share for the period.
The company’s revenue for the quarter rose 26.7% to $978.24 million from $772.05 million last year.
ProLogis earnings at a glance:
-Earnings (Q1): $599.22 Mln. vs. $474.25 Mln. last year.
-EPS (Q1): $0.83 vs. $0.73 last year.
-Revenue (Q1): $978.24 Mln vs. $772.05 Mln last year.
Full year EPS guidance: $3.55 to $3.65
Prologis Cuts 2020 Profit Outlook
Prologis Inc. (PLD) said that it cuts its profit outlook for fiscal year 2020.
“While the full economic impact of the pandemic is difficult to quantify, we have analyzed numerous scenarios and have adjusted our guidance to account for a broad range of outcomes,” said Thomas Olinger, chief financial officer, Prologis.
The company has have assumed reduced demand into the third quarter and anticipates that the operating environment will begin to recover toward the end of the year.
The company cut its annual net earnings per share outlook to a range of $1.81 to $1.88 from the prior estimation of $1.98 to $2.13 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.57 per share for fiscal year 2020. Analysts’ estimates typically exclude special items.
The company now projects annual Core FFO to be in the range of $3.55 to $3.65, compared to the prior estimation of $3.67 to $3.75.
Conagra Brands Recalls Healthy Choice Chicken Bowl Products
Conagra Brands, Inc. is recalling certain Healthy Choice brand Chicken bowl products citing the presence of small rocks, the U.S. Department of Agriculture’s Food Safety and Inspection Service or FSIS said.
The recall involves around 130,763 pounds of frozen, not ready-to-eat chicken bowl products. They include 9.5-oz. cartons containing “Healthy Choice POWER BOWLS Chicken Feta & Farro” with UPC code 072655001800 and 9.5-oz. cartons containing “Healthy Choice POWER BOWLS Chicken Feta & Farro, BOILS ÈNERGIE Poulet feta et épeautre” with UPC code 072655003026.
The products were produced on January 23 and have a best by date of 10/19/2020 on the label. These items were shipped to retail locations nationwide and exported to Canada.
The recall was initiated after receiving consumer complaints about rocks being in the products. However, there have been no reports of any adverse reactions due to consumption of these products.
The recall is classified as Class I, which indicates “a health hazard situation where there is a reasonable probability that the use of the product will cause serious, adverse health consequences or death.”
In recent recalls, Whole Foods Market, the supermarket chain owned by e-commerce giant Amazon, in early March called back select Green Chile Chicken Tamales due to the presence of undeclared milk, a known allergen.