Shares of Zoom Video Communications Inc. (NAS:ZM) are up more than 6% in Monday trading amid concerns about the global spread of the novel coronavirus that originated in Wuhan, China late last year. Italy and South Korea are among the countries that have witnessed spikes in new cases over the past few days. Zoom Video makes software that allows employees to conduct video-conference meetings and otherwise engage in remote work, and the stock has surged at times during the coronavirus outbreak on the expectation that more countries and companies would urge employees to work from home, thus creating new demand for remote-work tools. Zoom is due to report fourth-quarter earnings on Wednesday, March 4 and management will likely discuss whether the business has seen a bump from coronavirus concerns. Zoom shares have added 49% over the past month, as the S&P 500 (S&P:SPX) has dropped 1.3%.
Feb. 24, 2020, 10:09 a.m. EST