• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
FinanceCoronavirus

Walgreens, Target and Becton Dickinson stocks rise during Trump press conference as CEOs address coronavirus response

Anne Sraders
By
Anne Sraders
Anne Sraders
Down Arrow Button Icon
Anne Sraders
By
Anne Sraders
Anne Sraders
Down Arrow Button Icon
March 13, 2020, 5:55 PM ET

Subscribe to Fortune’s Outbreak newsletter for a daily roundup of stories on the coronavirus outbreak and its impact on global business.

Amid a disastrous week in the markets, a few notable companies got some publicity on Friday—and a stock pop—during a press conference with President Donald Trump.

The president ushered a lineup of “the biggest business people, the greatest retailers anywhere in the world,” Trump said on Friday, to address the spread of coronavirus—which has now become an official national emergency.

Walgreens, Walmart, Target, Becton Dickinson, Roche Diagnostics, Quest Diagnostics, CVS, LHC Group, and LabCorp all saw their stocks shoot up shortly before market close after their respective executives spoke alongside Trump during a White House press conference on Friday, addressing new measures to stem the spread of coronavirus in the U.S.

Walmart’s stock popped nearly 5% before market close, as CEO Doug McMillon addressed plans to keep parts of Walmart parking lots open per a request from the White House—giving Americans better access to its drive-through testing experience. Walgreens’ president Richard Ashworth also announced the company would continue to partner with the administration and the CDC—its stock popped 5%.

Other CEOs like Target’s Brian Cornell assured Americans the retailer would continue keeping stores open amid consumer efforts to stock up on household goods, and Becton Dickinson’s Tom Polen announced the medical device maker was “ramping up [its] manufacturing capacity” to ensure ample testing equipment was available. Quest Diagnostic’s Steve Rusckowski said the company has been working with the FDA and CDC and is “up and running” with tests in its facilities, while Roche’s Matt Sause said the company has partnered with laboratories to get a new coronavirus test approved and soon distributed. (LHC Group’s Bruce Greenstein appeared to show Trump how to bump elbows to avoid a handshake).

The group notably saw their stocks skyrocket at least 4% to 5% (and even as much as 9% for LabCorp) during the conference.

But upon watching the lineup of the big CEOs addressing the nation one after the other, some took to Twitter to suggest the president was highlighting companies to boost their stock.

He's trying to pump their stocks!

— Will Wilkinson (@willwilkinson) March 13, 2020

Despite a volatile week in the markets, major indexes like the S&P 500 and Dow rose 9% to close on Friday, with the stocks posting their biggest rally since 2008.

Stocks were pushed to session highs following an announcement from President Trump that 50,000 new coronavirus tests will be available next week.

More must-read stories from Fortune:

—Is this your first stock market crash? Some advice for young investors
—Here are two of the biggest losers from the Saudi Arabia oil price war
—Why investors suddenly turned on pot stocks
—Here are some of the most extreme ways companies are combating coronavirus
—Why it’s so hard to find the next Warby Parker

Subscribe to Fortune’s Bull Sheet for no-nonsense finance news and analysis daily.

About the Author
Anne Sraders
By Anne Sraders
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Markets sell off as U.S.-Iran ceasefire plans go nowhere, leaving Trump with military options to reopen the Strait of Hormuz
EnergyIran
Markets sell off as U.S.-Iran ceasefire plans go nowhere, leaving Trump with military options to reopen the Strait of Hormuz
By Jason MaMay 10, 2026
3 hours ago
Mah Sing sees natural ‘spillovers’ from Malaysia’s strong growth, as the conglomerate bets on premium residences and data centers
Real EstateSoutheast Asia 500
Mah Sing sees natural ‘spillovers’ from Malaysia’s strong growth, as the conglomerate bets on premium residences and data centers
By Angelica AngMay 10, 2026
4 hours ago
The Strait of Hormuz crisis shows energy security is now a boardroom issue
Commentaryoil and gas
The Strait of Hormuz crisis shows energy security is now a boardroom issue
By Victor NianMay 10, 2026
4 hours ago
Trump quickly blasts Iran’s response to U.S. ceasefire proposal as ‘totally unacceptable’ after warning Tehran ‘will be laughing no longer’
PoliticsIran
Trump quickly blasts Iran’s response to U.S. ceasefire proposal as ‘totally unacceptable’ after warning Tehran ‘will be laughing no longer’
By Jon Gambrell, Samy Magdy and The Associated PressMay 10, 2026
5 hours ago
Market guru Yardeni sees S&P 500 hitting 8,250 this year, highest among top Wall Street forecasters, as earnings bolster ‘Roaring 2020s’
InvestingS&P 500
Market guru Yardeni sees S&P 500 hitting 8,250 this year, highest among top Wall Street forecasters, as earnings bolster ‘Roaring 2020s’
By Jason MaMay 10, 2026
5 hours ago
World’s largest oil company reports 25% profit jump as exports via Saudi Arabia’s East-West Pipeline bypass Strait of Hormuz closure
EnergyOil
World’s largest oil company reports 25% profit jump as exports via Saudi Arabia’s East-West Pipeline bypass Strait of Hormuz closure
By The Associated PressMay 10, 2026
7 hours ago

Most Popular

‘This is the way’: Elon Musk endorses Warren Buffett’s famed 5-minute plan to fix the national debt
Economy
‘This is the way’: Elon Musk endorses Warren Buffett’s famed 5-minute plan to fix the national debt
By Jacqueline MunisMay 10, 2026
13 hours ago
'Employers are increasingly turning to degree and GPA' in hiring: Recruiters retreat from ‘talent is everywhere,’ double down on top colleges
Future of Work
'Employers are increasingly turning to degree and GPA' in hiring: Recruiters retreat from ‘talent is everywhere,’ double down on top colleges
By Jake AngeloMay 9, 2026
2 days ago
OpenAI CEO Sam Altman says Gen Z and millennials are using ChatGPT like a 'life advisor'—but college students might be one step ahead
Tech
OpenAI CEO Sam Altman says Gen Z and millennials are using ChatGPT like a 'life advisor'—but college students might be one step ahead
By Sydney LakeMay 10, 2026
13 hours ago
Red flag test: former CEO explains why he rejects job candidates who say they can start right away
Success
Red flag test: former CEO explains why he rejects job candidates who say they can start right away
By Orianna Rosa RoyleMay 9, 2026
2 days ago
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals 'dirty little secret'
Politics
Ted Cruz says the quiet part out loud: Trump accounts are Social Security personal accounts as GOP senator reveals 'dirty little secret'
By Jason MaMay 9, 2026
1 day ago
Trump thinks he's flying to Beijing with leverage. China spent 6 years making sure he doesn't have any
Commentary
Trump thinks he's flying to Beijing with leverage. China spent 6 years making sure he doesn't have any
By Steve H. HankeMay 10, 2026
15 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.