Week In Review: How Trump's Policies Moved Stocks - Saturday, August 5

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 Donald Trump and his administration with this weekly recap compiled by The Fly:

WECHAT, TIKTOK BAN

The White House is debating the scope and effective date of its bans on Chinese apps WeChat (TCEHY) and TikTok and will make its decisions public later in September, Bloomberg's Jenny Leonard reported, citing people familiar with the matter. The Commerce Department, which will implement the restrictions on national security grounds, is drafting documents to clarify the particular transactions that will be banned between the Chinese companies and U.S. businesses, as well as when such actions will take effect, Leonard said. The Fly notes that Walmart's (WMT) joint bid with Microsoft (MSFT) for TikTok's U.S. assets is reportedly seen as the frontrunner, while a second consortium featuring Oracle (ORCL) is also said to be in the running.

PUSH FOR VACCINE DELIVERY BY NOV. 1

Robert Redfield, director of the Centers for Disease Control and Prevention, sent a letter last week to the nation's governors with an urgent request. The Trump administration wanted them to do everything in their power to eliminate hurdles for vaccine distribution sites to be fully operational by November 1, The Herald's Michael Wilner reported. The August 27 letter asked governors to fast-track permits and licenses for new distribution sites. "The normal time required to obtain these permits presents a significant barrier to the success of this urgent public health program," Redfield wrote. Only two of six vaccine candidates that have the backing of the federal government - from Moderna (MRNA) and Pfizer (PFE) - are currently in active Phase III clinical trials, and both require individuals to take two doses, three to four weeks apart, the author noted.

Meanwhile, the Trump administration said it has garnered so many ventilators that it is canceling some of the $3B in contracts it inked to fight the COVID-19 pandemic, the Wall Street Journal's Stephanie Armour reported. The Department of Health and Human Services said it is terminating the contracts early since it has enough ventilators to handle the crisis, with about 120,000 of them now in the Strategic National Stockpile, Armour said.

On August 31, Royal Philips (PHGannounced that it has received notice from the U.S. Department of Health and Human Services, or HHS, of the partial termination of the April 2020 contract to deliver 43,000 bundled EV300 ventilator configurations to HHS through December 2020. Philips will complete the deliveries for this month, resulting in a total of 12,300 bundled ventilator configurations supplied to the Strategic National Stockpile by the end of August 2020, in line with the contract.

TWITTER'S PUBLIC INTEREST NOTICE

Twitter (TWTR) has placed a public interest notice on two tweets from President Trump. Twitter Safety stated that, "We placed a public interest notice on two Tweets in this thread for violating our Civic Integrity Policy, specifically for encouraging people to potentially vote twice." In the thread of tweets from President Donald Trump he writes in part, "go to your Polling Place to see whether or not your Mail In Vote has been Tabulated (Counted). If it has you will not be able to Vote & the Mail In System worked properly. If it has not been Counted, VOTE (which is a citizen's right to do)."

HACKERS TEST TRUMP CAMPAIGN SITE SECURITY 

Hackers have ramped up efforts to knock Trump campaign and business websites offline ahead of the upcoming U.S. presidential election, in what a security company working for the President's campaign said could be preparation for a bigger digital attack, Reuters' Jack Stubbs reported, citing emails. The security review was prepared by workers at Cloudflare (NET), which has been hired by Trump to help defend his campaign's websites in an election contest overshadowed by warnings about hacking, disinformation, and foreign influence, Stubbs noted.

Internal Cloudflare emails issued to senior company managers, including CEO Mathew Prince, on July 9 say that the number and severity of assaults on Trump websites rose in the preceding two months and reached record levels in June, the author added. Other publicly traded companies in the cybersecurity space include Palo Alto Networks (PANW), FireEye (FEYE), Check Point (CHKP), Fortinet (FTNT), Zscaler (ZS), and NortonLifeLock (NLOK).

 

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Roger Keats 1 year ago Member's comment

good read