The share market has been hit hard during the coronavirus outbreak so far. Investors are fearful about the spread of the virus as well as the financial impacts it will have.
When you look at share markets as a whole, you may think that every business is having a rough time during this period. The S&P/ASX 200 Index (ASX: XJO) is down by 29% because of the coronavirus. The S&P 500 (INX) is down 24%, which includes a bit of recovery from a week ago.
Some shares like Australia and New Zealand Banking Group (ASX: ANZ), Woodside Petroleum Limited (ASX: WPL), WiseTech Global Ltd (ASX: WTC) have been heavily hit. Whilst the size of the share price decline may be worth questioning, those businesses are seemingly going to see a short-term earnings decline.
But some shares aren't seeing painful earnings decline. Here are some of the ones I'm keeping my eye on:
The share price of Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) has gone up 21% since 21 February 2020. It provides some of the items being used to help patients that are suffering during the coronavirus.
The share price of Pushpay Holdings Ltd (ASX: PPH) has fallen 33% since 14 February 2020 despite the electronic donation business upgrading its FY20 guidance with organisations like US churches using the Pushpay app to communicate with the congregation as well as taking more donations electronically.
Gold miners like Evolution Mining Ltd (ASX: EVN) are in an interesting position. With Australia's weakening currency, the gold price in Australian dollar terms keeps rising and yet the share prices of gold miners aren't matching that gain. There's mining risks for miners, but it's interesting to consider if there's a bit of value here – particularly if the general share market keeps dropping.
Foolish takeaway
There are plenty of shares out there where their earnings haven't been hit but the share price has gone down. I think Pushpay is a very interesting idea today. I'd be interested in buying shares of Pushpay for the long-term.
