Week In Review: How Trump's Policies Moved Stocks - Jan. 20

Companies begin to see impact from shutdown, Grassley sees Trump proceeding with tariffs on imported cars

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:

1. FDA DRUG APPROVALS AT RISK: On Monday, commissioner Scott Gottlieb said via Twitter that the Food and Drug Administration has about five weeks of funding left to review new drug applications during the government shutdown. "We’ve stretched carryover drug user fees to get a longer runway should the shutdown continue, by for example sharply reducing any overhead charges to CDER/CBER. The slower burn rate gives us about five weeks left as of this week. These numbers could change," his tweet reads. Meanwhile, Aimmune Therapeutics (AIMT) said in a regulatory filing that it had been notified by the FDA that as a result of the ongoing government shutdown, the agency will not commence review of its application for AR101 for peanut allergy in children and adolescents. Aimmune's drug might not be the only one facing delays. Piper Jaffray analyst Christopher Raymond has told investors that Celgene (CELG), with its ozanimod resubmission expected in the first quarter of 2019, and Biogen (BIIB), which had filed on December 17 an NDA for its BIIB098, could also be impacted if the government shutdown continues. The partial government shutdown began on December 22 after Congress and the White House failed to reach a spending deal, and has since became the longest government shutdown in U.S. history.

2. SHIPPERS CONCERNED ABOUT DELAYS: As U.S. agencies that oversee the flow of goods start to cut back services and working hours, shippers and freight-handlers are concerned that "delays will spread across supply chains if the partial government shutdown continues much longer," the Wall Street Journal reported on Wednesday. Publicly traded companies in the shipping space include Costamare (CMRE), Danaos (DAC), Diana Containerships (DCIX), Textainer (TGH), Navios Maritime (NM), YRC Worldwide (YRCW) and Expeditors (EXPD).

1 2
View single page >> |

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.