It's finally Friday!
Let's go over some of the top stories Friday.
Let's Talk About the Coronavirus
The virus was the focus of Jim Cramer's Real Money column Friday morning:
"What do you do when the coronavirus pretty much plays out as the medical people in the United States said it would? Go back to the words of our very best epidemiologist, Dr. Tony Fauci. He said it would continue to spread in China. He said that it will go through the underdeveloped world rapidly because those countries do not have a comprehensive public health system," wrote Cramer. "And the U.S.? It will spread, hopefully, more slowly where we hope to nurse people back to health"
There are over 75,000 cases, with 2,000 deaths.
So, is the market's reaction Thursday and Friday warranted?
And Then the Sprint and T-Mobile Merger
Under the new deal, T-Mobile’s parent company, Deutsche Telekom would hold 43% of the new company, with Softbank--which is the controlling holder of Sprint--holding 24%.
However, the exchange ratio for common shareholders will remain the same -- 9.75 shares of Sprint for a single T-Mobile share.
Softbank’s exchange ratio will be 11 Sprint shares for each T-Mobile share.
The changes are due to Softbank giving Deutsche Telekom a slightly higher ownership stake due to Sprint’s financials declining in the two years since the merger was announced.
The companies plan to close the merger by April 1.