Factbox - Trump tweets jolt shares of targeted companies

Image
Reuters
Last Updated : Jan 07 2017 | 2:42 AM IST

(Reuters) - Donald Trump's threat to impose a fee on Toyota Motor in a tweet Thursday made the automaker the latest in a series of companies targeted by the U.S. president-elect. Some of the companies have seen volatile price spikes in their shares after the tweets.

Following is a list of companies targeted in Trump's tweets.

Toyota Motor Corp: Trump, who campaigned on promises to keep manufacturing business in the United States, tweeted that he would impose a fee if the Japanese automaker built its Corolla cars for the U.S. market in Mexico. Toyota's U.S.-listed shares fell 0.6 percent on Thursday and were down just 0.3 percent on Friday.

General Motors Co : Trump on Tuesday threatened a "big border tax" on GM for making its Chevy Cruze model in Mexico. GM's shares fell briefly in premarket trade following the tweets, but reversed course to finish the day up 6.5 percent. Upbeat sales data on Wednesday further buoyed the stock for the automaker's best two-day performance early November. The stock has given back some of the gains and is now up 4.4 percent since Tuesday.

Lockheed Martin Corp : Trump on Dec. 12 tweeted about the U.S. defence company's F-35 fighter jet programme, calling it "out of control." Lockheed Martin shares dropped more than 3 percent in the following two sessions, the worst two-day performance for the stock in five weeks.

Lockheed's stock is up 0.4 percent since then, but has underperformed the broad S&P 500 index. It has outperformed the NYSE Arca Defense index <.DFII>, which has slipped 0.3 percent, over the same time frame.

Rexnord Corp : Trump on Dec. 2 tweeted over Rexnord's plans to move operations to Mexico and fire U.S. workers. Rexnord shares fell more than 1 percent after the tweet. The shares had dropped nearly 8 percent in the two sessions prior to the tweet after Rexnord announced a convertible offering; they are up 2.6 pct since the tweet.

Other companies Trump has targeted in his tweets include another top automaker, Ford Motor Co , and other defence-related and aerospace companies, United Technologies Corp. and Boeing Co .

(Reporting by Caroline Valetkevitch and Chuck Mikolajczak; Editing by Leslie Adler)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 07 2017 | 2:27 AM IST

Next Story