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Hi there,
Happy Monday! Here's what we're watching in business and tech news this week:
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Expect more 2020 conferences to be canceled or to test out digital formats. Healthcare conference HIMSS and tech, film, and music conference SXSW were both scheduled to begin this week, but have been canceled amid coronavirus fears. Meanwhile, Starbucks will move its upcoming annual shareholder event on March 18 to webcast-only. To explore the HIMSS exhibitors,  check out our Expert Collection here.
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Look for year-defining gaming launches this week. Game launches often come ahead of the Game Developers Conference in mid-March. This year, the event was indefinitely postponed due to the coronavirus (though some events will be streamed over Twitch). Game franchise Call of Duty (which announced a new game today) as well as Doom Eternal and Animal Crossing: New Horizon (both scheduled to launch March 20) are among the drivers of what is projected to be a $171B global gaming industry in the next few years, per CB Insights’ market-sizing tool.
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Adobe, Broadcom, Oracle, and Slack report earnings on Thursday. Slack's share price was buoyed by a wave of boosted investor sentiment in remote-work technologies last week but it didn't escape today’s market turbulence.
- Speaking of the markets and coronavirus, eyes will be on FAMGA — Facebook, Amazon, Microsoft, Google, Apple — this week. While these names drove a huge portion of market gains in recent years, they have not been protected from the market downturn. Facebook’s stock has dropped by 19% since the WHO declared the outbreak a public health emergency on January 30, the most out of its Big Tech peers. This is partly due to plunging demand in travel, retail, CPG, and entertainment, which has resulted in slashed ad budgets. Amazon, Microsoft, Google, and Apple have sunk 4%, 13%, 16%, and 18%, respectively, since the WHO’s announcement.
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