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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Data: Company filings; Chart: Axios Visuals

Disney's kingdom is losing its magic to the coronavirus pandemic.

Why it matters: Analysts point to Disney's healthy balance as proof that the company will weather the storm, but its experience dealing with coronavirus will fundamentally alter the way the nearly 100-year-old business operates moving forward.

Driving the news: A services union group said Sunday that Disney would furlough over 43,000 of its 75,000 employees of its Walt Disney World theme park.

The big picture: Several of Disney's blockbuster films have been postponed as theaters remain shuttered. The production of other Hollywood titles is being put on hold as social distancing measures are in place.

  • Disney cruise lines extended some of its temporary sailing suspensions. The company has closed most of resorts worldwide and many stores.

By the numbers: As a result of the pandemic, Disney's stock has dropped nearly 30 percentage points as of Monday from its peak in January.

  • Its stock price gas reached its lowest point since 2014, erasing six years of gains that have mostly been fueled by box office dominance.
  • Disney has begun increasing its access to cash so that it can weather the storm.

Between the lines: Despite the fact that TV consumption is up, Disney's flagship sports network ESPN is also being impacted by the crisis.

  • On Monday, ESPN said that it's asked its 100 highest-paid commentators to take a 15% pay cut over the next three months.

Yes, but: Despite these challenges, Disney+, is flourishing as families stuck at home look for easy ways to entertain their kids.

What's next: Bob Iger, who in February announced his retirement as Disney CEO, has re-engaged with the company amid the coronavirus pandemic, N.Y. Times media columnist Ben Smith writes.

  • Per Smith, Iger is helping to craft a response to the crisis to address Disney's future, including reopening the company with less office space and ending glitzy and expensive old-school television practices like TV ad upfronts.

Go deeper: Disney World furloughing 43,000 workers following coronavirus shutdown

Go deeper

House passes $1.9 trillion COVID relief package

Photo: Screenshot via C-SPAN

The House approved President Biden's $1.9 trillion COVID relief package on a 219-212 vote early Saturday morning, sending it to the Senate for a possible rewrite before it gets to Biden's desk.

The big picture: The vote was a critical first step for the package, which includes $1,400 cash payments for many Americans, a national vaccination program, ramped-up COVID testing and contact tracing, state and local funding and money to help schools reopen.

8 hours ago - Health

Biden says it's "not the time to relax" after touring vaccination site

President Biden speaking after visiting a FEMA Covid-19 vaccination facility in Houston on Feb. 26. Photo: Mandel Ngan/AFP via Getty Images

President Biden said Friday that "it's not the time to relax" coronavirus mitigation efforts and warned that the number of cases and hospitalizations could rise again as new variants of the virus emerge.

Why it matters: Biden, who made the remarks after touring a vaccination site in Houston, echoed CDC director Rochelle Walensky, who said earlier on Friday that while the U.S. has seen a recent drop in cases and hospitalizations, "these declines follow the highest peak we have experienced in the pandemic."

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Most COVID-19 survivors can weather risk of reinfection, study says — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: FDA advisory panel endorses J&J COVID vaccine for emergency use — About 20% of U.S. adults have received first vaccine dose, White House says — New data reignites the debate over coronavirus vaccine strategy.
  3. Economy: What's really going on with the labor market.
  4. Local: All adult Minnesotans will likely be eligible for COVID-19 vaccine by summer — Another wealthy Florida community receives special access to COVID-19 vaccine.
  5. Sports: Poll weighs impact of athlete vaccination.