What to Watch Monday: L Brands, Tesla, Coronavirus

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The top stories this morning include an update on the coronavirus, Tesla  (TSLA) - Get Reportand L Brands  (LB) - Get Report.

The death toll from the coronavirus has now eclipsed SARS as it rises to 908. During the SARS outbreak, there were 774 deaths.

There are now over 40,000 cases of the virus in China.

The Princess Cruises ship that’s been quarantined off of the coast in Japan announced that the confirmed cases of the virus on the ship have nearly doubled, to a total of 130 cases.

And then there’s Tesla.

Tesla is reopening its Shanghai Gigafactory Monday, following a closure due to the coronavirus.

The company has said that the delay will impact Model 3 deliveries in China.

In pre-market trading, Tesla was trading around $748.

It’s up 139% in the past year, even despite the volatility in the stock last week.

And finally, L Brands is nearing its sale of Victoria’s Secret to private equity firm Sycamore Partners.

CNBC reported the deal, saying that the sale could be announced as soon as this week.

According to the report, it’s unclear what kind of leadership role that L Brands CEO Les Wexner would have if the deal goes through.

Wexner is the largest shareholder of L Brands, with a 17% stake.

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