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).

3. SHUTDOWN SLOWS HOME PURCHASES: The chief economist at the National Association of Realtors, Lawrence Yun, said during an interview on Bloomberg Radio that the "shutdown is already slowing home purchases, and it could get worse if it decreases consumer confidence." Companies that may be impacted by this include Lennar (LEN), KB Home (KBH), PulteGroup (PHM), Zillow (Z; ZG), Realogy (RLGY) and Redfin (RDFN).

4. AUTO TARIFFS: Republican Senator Charles Grassley said on Wednesday that President Trump will likely proceed with tariffs on imported vehicles, a move that could urge the EU to agree to a new trade pact, Reuters reported. "I think the president's inclined to do it," Grassley told reporters. "I think Europe [is] very, very concerned about those tariffs […] It may be the instrument that gets Europe to negotiate." U.S. Commerce Department recommendations into whether the president should slap tariffs of up to 25% on imported cars and parts on national security grounds are due by the middle of next month, the report noted. Publicly traded automakers include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Auto supplier stocks include Visteon (VC), Adient (ADNT), American Axle (AXL), Delphi Technologies (DLPH), Aptiv (APTV), BorgWarner (BWA), Lear (LEA), Tenneco (TEN) and Magna (MGA).