Coronavirus Infects Markets: Jim Cramer on Virus, Amazon Earnings

Jim Cramer's weighing in on Amazon, the coronavirus, and five new stocks for the cult stock index.
Publish date:

It's almost the weekend!

Jim Cramer's weighing in on Amazon, the coronavirus and five new stocks for the cult stock index. 

An Update on the Coronavirus

This morning, after the World Health Organization declared the Coronavirus a public health emergency of global concern, the U.K. confirmed its first case of the coronavirus.

But what exactly does labeling the coronavirus a global health emergency mean? It means that the disease has the risk to spread internationally, and it means that countries should focus on the preparation and prevention of the virus. It means that an international response may be required, especially if the virus were to become a pandemic.

213 people have died from the virus and over 9,700 cases have been confirmed.

140 of those cases are outside of China, with six in the United States.

So, how will the markets react now that the coronavirus is a global health emergency?

Amazon's Earnings

Amazon said its net income for the three months ending in December rose 8% to $3.3 billion, while sales surged 21% to a Street-beating $87.4 billion as next-day delivery helped boost overall U.S. shipping volumes more than four-time higher than last year. Costs linked to the plan, however, came in under Amazon's $1.5 billion estimate -- at $12.39 billion -- helping profit margins and efficiency.

"We've mentioned that we have more than 150 million paid Prime members globally now, and we mentioned that we have more people joined Prime in Q4 than any other quarter before," Amazon CFO Brian Olsavsky added. "So a lot of good momentum there built up on the aggregation of benefits that we continue to add to the Prime program. Most recently, the expansion of one-day shipping." 

So, is one day shipping Amazon's iPhone moment?

Catch up on the Latest Videos on TheStreet!