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Three Stories to Watch Thursday: P&G Earnings, Coronavirus and GE's Price Target Boost

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Happy Thursday!

Here are three top stories driving the markets Thursday, Jan. 23. 

An Update on the Coronavirus

Before the World Health Organization takes the stage later Thursday for a press conference on whether or not the coronavirus is a global health emergency, Beijing canceled all large-scale Chinese New Year celebrations and Enforced travel restrictions.

Here's what's happened so far. 

China has locked down the city Of Wuhan, which is the sixth-largest city in China, which means that public transportation has been shut down and there's a travel ban. 

It also closed down a nearby city. 

As of this morning, 17 people have died from the outbreak, and there are over 500 confirmed cases in China. There's also one confirmed case in the U.S. and, as of this morning, Singapore had also reported its first case of coronavirus.

General Electric's Price Target Boost

And then there’s General Electric  (GE) - Get General Electric Company (GE) Report, which got a price target boost from Morgan Stanley Thursday morning.

GE will report its fourth-quarter earnings on Wednesday the 29th.

Morgan Stanley lifted its rating on the stock to overweight and boosted the price target by $3.

Currently, GE trades around $14.

P&G Earnings

P&G  (PG) - Get Procter & Gamble Company Report reported earnings before the bell Thursday.

Overall, the quarter was stronger than expected, but revenue came in shy of expectations.

P&G reported earnings per share of $1.41, which is up nearly 13% from last year.

Analysts had expected earnings per share of 1.37

Revenue came in at $18.2 billion dollars, which was just shy of analysts' expectations for $18.4 billion.

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