After a week dominated by an escalation in the number of Coronavirus cases, plus high-profile reporting results from various mid-to-large cap stocks, the ASX came within a whisker of reaching its record-high closing price from January. By the end of the trading week, the ASX 200 climbed 1.5%, finishing at 7,130.2 points. The All Ordinaries shared an equivalent increase, settling on 7,227.1 points.

Which shares excelled?

Last week biggest winners were spurred on by reporting season, as shareholders warmed to stocks that managed to beat the market expectations.

International education organiser IDP Education (ASX: IEL) was the week best-performing stock, despite the fact that it started the week sluggishly. By Wednesday, however, shares in the company were soaring higher after it reported a 42% increase in net profit for the half and it also downplayed fears of subdued activity that the market was concerned may have been brought on by the Coronavirus. IEL shares rocketed higher by 36.4% across the week.Following closely in second, Breville Group (ASX: BRG) rose 27.5% after its mid-year results. The company announced that net profit increased by 14.1% to $49.7 million, with management anticipating that momentum will flow through to the remainder of the financial year.Elsewhere, Challenger (ASX: CGF) leapt 13% on the back of its earnings update. The investment management firm saw a 4% fall in net profit for the half, however, it topped estimates for return on equity. An upbeat outlook also helped drive buying activity, with the company expecting full-year net profit at the top-end of its guidance.Evolution Mining (ASX: EVN) was another stock on the move last week, with shares in the gold miner advancing 12.2%. The business declared a record half-year statutory net profit, in addition to record-high cash generation across the group. This translated into a higher dividend for shareholders, who cheered the news.The market was also buoyed by a better-than-expected result from Commonwealth Bank (ASX: CBA), with shares in the big bank leaping 7.3% across the trading week. Some of the other major movers from last week included Bingo Industries (ASX: BIN), up 12.4%, IPH (ASX: IPH), up 9.7% and EML Payments (ASX: EML), up 9.3%.[caption id="attachment_2780" align="aligncenter" width="525"] Education provider IEL rose strongly last week[/caption]

Which shares dragged on the market?

While reporting season has been favourable to numerous stocks thus far, not every company has escaped the wrath of lofty market expectations, particularly as global risks emanate.

The week worst-performing stock was Blackmores (ASX: BKL), as the vitamins supplier disappointed shareholders with an earnings downgrade after profit fell 48% across the half. Furthermore, with the Coronavirus outbreak cited as a burden on the company performance in 2020, management cut the business' profit guidance and also suspended its interim dividend. Shares were under significant selling pressure, trading 22.5% lower over the week.There were also downgrades from Beach Energy (ASX: BPT) and Orora (ASX: ORA), with the two companies seeing a sharp slide in their share prices. BPT declined 11.3% after its half-year revenue slid 10% due to the lower price of oil throughout the half. Orora shed 9.4% of its market cap following an update that pointed to issues with the US division of its business that will weigh on profits.An update from Boral (ASX: BLD) informed investors that the company prior earnings were overstated amid manipulation of accounts and financial statements within its Windows business. Shares tumbled 8.4% following the news. A disappointing result from Downer (ASX: DOW), where its shares fell 7.8%, also weighed on broader construction and materials stocks, with Adelaide Brighton (ASX: ABC) feeling the squeeze, declining 9.6% despite no news from the company.[caption id="attachment_2781" align="aligncenter" width="525"]

Blackmores has felt the impact of the Coronavirus[/caption]

Other trading developments

Outside of reporting season, one of the biggest developments of the week was news that TPG (ASX: TPM) and Vodafone have received the all-clear from the Federal Court to proceed with a merger that was previously blocked by the ACCC. Upon news of the merger, TPM shares lifted 9.1%.In other news, Canadian c-store retailer Alimentation Couche-Tard increased its bid for Caltex (ASX: CTX). The revised offer is for consideration of $35.25 per share, however, CTX shares were largely unchanged by the development, moving just 0.2% higher to $33.55,There were also three stocks that made their ASX debut last week. Emerald Clinics (ASX: EMD), a network of medicinal cannabis clinics, lost 40% across its first three days of trading. It was a different story for Thedocyard (ASX: TDY), a commercial transaction software developer, which gained 20% on its debut. Finally, junior explorer Castile Resources (ASX: CST) listed on Friday, easing 5%.[caption id="attachment_2782" align="aligncenter" width="525"]

Several travel stocks report in the week ahead. What will their outlooks be amid recent global travel disruption?[/caption]

This week trading outlook

Based on ASX futures, the Australian share market is poised for a modest drop at the opening bell on Monday morning, however, the trading week looks set to be dominated by reporting season once again.Results that are most likely to be watched in the week ahead are: Altium (ASX: ALU), Ansell (ASX: ANN), Brambles (ASX: BXB), BHP (ASX: BHP), Cochlear (ASX: COH), Wesfarmers (ASX: WES), Fortescue Metals Group (ASX: FMG), Nearmap (ASX: NEA), Webjet (ASX: WEB), Coca-Cola Amatil (ASX: CCL), Lend Lease Group (ASX: LLC), Sydney Airport (ASX: SYD), Qantas (ASX: QAN), Santos (ASX: STO), Perpetual (ASX: PPT), Crown Casino (ASX: CWN) and Origin Energy (ASX: ORG).In the meantime, however, Tuesday RBA meeting minutes could shed further light on whether the country central bank will hold steady in its approach to fiscal policy as concerns linger over the impact of droughts and bushfires on Australia economy. Later in the week We'll also see data on the state of the jobs market, which could influence broader sentiment.Investors eyeing dividends will have their hands full of options in the week ahead. This includes Computershare (ASX: CPU), with a $0.23 dividend per share franked at 30%, and Magellan Financial Group (ASX: MFG), with a $0.929 dividend franked at 75%. There will also be fully-franked dividends courtesy of JB Hi-Fi (ASX: JBH), which will declare a dividend of $0.99 per share, and Commonwealth Bank, with its $2.00 dividend.Some potential momentum plays for the new trading week include Transurban Group (ASX: TCL) and Goodman Group (ASX: GMG), which are both trading at their all-time highs following their HY20 results last week and various price-target upgrades from Australian brokers. Faring less fortunate, Insurance Australia Group (ASX: IAG) and Cimic Group (ASX: CIM) are both trading at their 52-week lows after a disappointing earnings season, while Synlait Milk (ASX: ASX SM1) joins them after an earnings downgrade last week stemming from Coronavirus-related operational issues in China.

We'll be back next week with another Weekly ASX Trading Wrap Up - until then, have a great week!