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What to Watch Tuesday: Nike and Kobe Bryant, 3M's Earnings, Coronavirus Update

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It's Tuesday.

Let's take a look at the biggest stories in the markets this morning. 

An Update on the Coronavirus

Chinese authorities now say that 106 people have died from the virus and over 4,500 cases have been confirmed.

In China, nearly 60 million people are under partial or full lockdown.

And there are now 60 plus confirmed cases around the world, which includes the five cases confirmed in the U.S.

Nike Pulls Kobe Bryant Gear 

Nike  (NKE) - Get NIKE, Inc. (NKE) Report which quietly pulled all Kobe Bryant gear from its website.

Pages on the site for Bryant-branded gear only offered gift cards for Los Angeles Lakers gear, late Monday. All results for Kobe Bryant branded shoes led to a generic Nike brand page with no Kobe related items.

On Sunday, the NBA legend, his 13-year-old daughter and seven others died in a fatal helicopter crash in Calabasas, California.

On Monday, the Nike website had a tribute to Bryant, which stated that he was a “beloved member of the Nike family. We will miss him greatly. Mamba Forever.”

3M's Earnings

3M  (MMM) - Get 3M Company Report reported before the bell Tuesday.

The company posted weaker-than-expected fourth-quarter earnings.

It reported earnings of $1.95 a share, which comes in below analyst expectations. Analyst were looking for earnings of $2.10 per share.

However, 3m reported revenue of $8.1 billion, which met analyst expectations.

The company also said that it plans to cut 1,500 jobs in a company-wide restructuring plan.

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