NEW YORK U.S. President Donald Trump's comments about various companies have drawn much attention, and his tweets on Tuesday marked a subtle shift in which they focussed on a sector over a specific company. But while the share prices of most companies that Trump singled out on Twitter have dropped immediately, the impact has been mostly short lived. Following is a list of companies targeted in Trump's tweets:DRUG COMPANIES Pfizer Inc (PFE.N), Merck & Co Inc (MRK.N), Amgen Inc (AMGN.O) and Gilead Sciences Inc (GILD.O): Trump sent a tweet on Tuesday before the market opened that he was "working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!" Drugmakers' shares moved lower. Pfizer was down 1 percent at $34.02, and Merck fell 0.6 percent at $66.05. Both are Dow Jones industrial average components. Amgen was off 0.9 percent at $177.88, and Gilead was 1.8 percent lower at $68.87. The PowerShares Dynamic Pharmaceutical ETF (PJP.P) was down 1.3 percent. EXXON MOBIL CORP (XOM.N): Trump congratulated the oil company in a tweet after the closing bell on Monday for an investment programme that would create "45,000 construction & manufacturing jobs in the U.S. Gulf Coast region." Shares of the Dow component were down 0.8 percent at $82.19 on Tuesday.
BOEING CO (BA.N): In a Dec. 6 tweet, Trump criticized costs of the Air Force One plane manufactured by the company. Shares of the Dow component closed that session little changed and since rallied nearly 19 percent through Monday's close. UNITED TECHNOLOGIES CORP (UTX.N): Trump tweeted on Nov. 24 about working on a deal with the Dow component to keep jobs at its Carrier unit in Indiana. The stock gained 0.6 percent in the session following the Thanksgiving holiday and had advanced nearly 4 percent through Monday.
LOCKHEED MARTIN CORP (LMT.N): Trump tweeted on Dec. 12 that the U.S. defence company's F-35 fighter jet programme was "out of control." Lockheed Martin shares fell 2.5 percent on the day of the tweet but have recovered since and were up 3.6 percent at Monday's close. The stock has outperformed the NYSE Arca Defense index .DFII, which has risen 1.4 percent over the same period. GENERAL MOTORS CO (GM.N): Trump on Jan. 3 threatened a "big border tax" on GM for making its Chevy Cruze model in Mexico. GM shares fell briefly in premarket trade following the tweets and recovered to finish the trading session up 0.9 percent. The stock since gained nearly 9 percent through Monday's close.
FORD MOTOR CO F.N.: Shares are up 5.5 percent since Trump tweeted late on Nov. 17 that the company would keep jobs in Kentucky. TOYOTA MOTOR CORP (TM.N) (7203.T): Trump, who campaigned on promises to keep manufacturing in the United States, tweeted on Jan. 5 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 ended the session down 0.6 pct and have slumped nearly 7 percent since then, as one of the few stocks targeted that has continued to struggle. FIAT CHRYSLER AUTOMOBILES NV (FCAU.N)(FCHA.MI): Trump applauded the company on Twitter on Jan. 9 for plans to invest in Michigan and Ohio plants. Its U.S.-listed shares were down nearly 2 percent through Monday's close. (Reporting by Chuck Mikolajczak; Editing by Lisa Von Ahn)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Published Date: Mar 08, 2017 01:00 AM | Updated Date: Mar 08, 2017 01:00 AM