A man and a child walk past a closed Apple store in Shanghai on Feb. 20. Photo: Yifan Ding/Getty Images

The coronavirus outbreak already is eating into companies' 2020 plans, with a number of firms announcing significant expected hits to their sales.

What's happening: After warning that it would need to write down its revenue expectations, a new report from Nikkei says Apple's iPhone inventories could remain low until April or longer and that suppliers are "currently operating at around 30% to 50% of capacity."

  • Adidas also said Wednesday that its business in and around China had dropped by about 85% year over year since Jan. 25.
  • Puma added that it expected the virus to hit sales and profits in the first quarter but still hoped to reach its 2020 targets.

What they're saying: "Retail in February is destroyed," Puma CEO Bjørn Gulden said in a statement. "We don’t know yet about March. We are doing everything we can to stay open."

Flashback: About 40% of companies that have reported earnings have cited the term “coronavirus,” and about a quarter of those have modified guidance due to the virus.

On the other side: “An aggressive response to the crisis [by the Chinese government] seems to be helping contain the epidemic,” Jefferies analyst James Grzinic told Reuters.

  • “[T]his would suggest that a tough first quarter should be followed by a strong recovery in the second quarter and beyond.”

Go deeper: Coronavirus may be "at the brink" of a global pandemic

Go deeper

Updated 1 hour ago - Politics & Policy

Trump signs stopgap bill to prevent government shutdown

Senate Majority Leader Mitch McConnel and President Trump arrives at the U.S. Capitol in March. Photo: Samuel Corum/Getty Images

President Trump signed a bill to extend current levels of government funding after funding expired briefly, White House spokesperson Judd Deere confirmed early Thursday.

Why it matters: The move averts a government shutdown before the Nov. 3 election. The Senate on Wednesday passed the legislation to fund the federal government through Dec. 11, by a vote of 84-10.

Updated 2 hours ago - Science

In photos: Deadly wildfires devastate California's wine country

The Shady Fire ravages a home as it approaches Santa Rosa in Napa County, California, on Sept. 28. The blaze is part of the massive Glass Fire Complex, which has razed over 51,620 acres at 2% containment. Photo: Samuel Corum/Agence France-Presse/AFP via Getty Images

More than 1700 firefighters are battling 26 major blazes across California, including in the heart of the wine country, where one mega-blaze claimed the lives of three people and forced thousands of others to evacuate this week.

The big picture: More than 8,100 wildfires have burned across a record 39 million-plus acres, killing 29 people and razing almost 7,900 structures in California this year, per Cal Fire. Just like the deadly blazes of 2017, the wine country has become a wildfires epicenter. Gov. Gavin Newsom has declared a state of emergency in Napa, Sonoma, and Shasta counties.

Updated 2 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 33,976,447 — Total deaths: 1,014,266 — Total recoveries: 23,644,023Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 7,233,945 — Total deaths: 206,959 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Education: School-aged children now make up 10% of all U.S COVID-19 cases.
  4. Health: Moderna says its coronavirus vaccine won't be ready until 2021
  5. Travel: CDC: 3,689 COVID-19 or coronavirus-like cases found on cruise ships in U.S. waters — Airlines begin mass layoffs while clinging to hope for federal aid
  6. Business: Real-time data show economy's rebound slowing but still going.
  7. Sports: Steelers-Titans NFL game delayed after coronavirus outbreak.