Hot Stocks
08:52 EDT Week in review: How Trump's policies moved stocks - Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. HEALTHCARE: Earlier this week, President Donald Trump threatened to end government payments to health insurers if Congress does not pass a new healthcare bill and goaded them to not abandon their seven-year quest to replace Obamacare, according to Reuters. In a Twitter message, Trump said "if a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon!" Meanwhile, Cigna (CI) CEO David Cordani noted on the company's conference call on Friday that the company still sees a loss from its Affordable Care Act individual business this year, though at a lower level than in 2016, and Molina Healthcare (MOH) announced that it plans to exit the Utah and Wisconsin ACA Marketplaces effective December 31, 2017. Other publicly traded companies in the space include Aetna (AET), Anthem (ANTM), Centene (CNC), Health Net (HNT), Humana (HUM), UnitedHealth (UNH) and WellCare (WCG). 2. FOX NEWS: Former homicide detective Rod Wheeler has filed a lawsuit alleging the White House worked with Fox News (FOX; FOXA) and Republican donor Ed Butowsky to create a story regarding the murder of Democratic National Committee staffer Seth Rich in an attempt to distract from Russia investigations, CNN reports, citing the lawsuit. Wheeler, who was hired by Butowsky to look into Rich's death, claims Fox fabricated quotes attributed to him in an effort to support unproven theories that Rich provided Wikileaks with DNC emails and his murder was retribution for the leak. 3. OIL: According to a Bloomberg report on Wednesday, the White House is prepared to levy additional sanctions on Venezuela to counter repression by its President Nicolas Maduro, with restrictions on oil trade among the options being considered. Officials are said to be divided over the idea of restricting imports of crude from Venezuela, the publication said, adding that oil companies have warned that limits on Venezuelan oil imports could disadvantage Gulf and East Coast refiners designed to handle the country's crude and cause gasoline prices to spike. Publicly traded companies in the energy and refining space include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO), Western Refining (WNR), BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). 4. TOYOTA, MAZDA PLANT PLANS: Toyota Motor (TM) and Mazda Motor (MZDAF) announced that they have signed an agreement to enter a business and capital alliance, as part of which the car companies will examine detailed plans with the goal to starting operations of a joint venture manufacturing plant in the U.S. in 2021. The factory will require a total investment of approximately $1.6B, and will create up to 4,000 jobs, the companies said. In response, President Trump tweeted that the plan represents "a great investment in American manufacturing!" 5. METLIFE WANTS "MORE": During its second quarter earnings call earlier this week, MetLife (MET) said elected officials "need to do more" on the fiscal policy front, "especially through tax reform" to spur faster economic growth. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
|
