NEW: Tech companies lead stocks higher as investors set aside some of their concerns about the coronavirus outbreak that originated in China.
News headlines today: Feb. 19, 2020NEW YORK -- Technology companies led stocks higher in early trading Wednesday as investors set aside some of their concerns about the virus outbreak that originated in China.
The early gains mark a reversal from Tuesday when tech stocks led the market lower after Apple warned that its revenue would take a hit because of the outbreak. Apple rose 1% and chipmaker Nvidia jumped 4.2%. Navigation device maker Garmin and chipmaker Analog Devices jumped after reporting strong earnings. Safe-play assets like real estate companies and utilities lagged behind.
FRESHENING THE PILLOWS: Bed Bath & Beyond rose 4.1% after the home goods retailer rolled out initiatives to turn the struggling chain around. The company will spend $1 billion this year reinvesting in stores, upgrading technology, and on debt reduction and share buybacks. The moves come a month after the company withdrew its annual financial forecast because of weak results.
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