| 2017-11-18 08:21:32|
TWX, T… 08:21 11/18 11/18/17
Week in review: How Trump's policies moved stocks
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 Trump and his administration with this weekly recap compiled by The Fly: 1. TIME WARNER: President Donald Trump, who has often been critical of news network CNN since he began his run for the office, tweeted earlier this week: "While in the Philippines I was forced to watch @CNN, which I have not done in months, and again realized how bad, and FAKE, it is. Loser!" The tweet comes as AT&T (T) is reportedly in talks with the Justice Department regarding its proposed buyout of CNN parent Time Warner (TWX). The President has suggested that the Justice Department may try to block AT&T's takeover, saying "it will probably end up being maybe litigation, maybe not. We'll see how it all plays out," Bloomberg reported, citing comments Trump made on his trip to Asia. In the latest turn in the M&A saga, the New York Post reported Friday, citing two sources close to the situation, that AT&T and the DOJ have agreed to extend the review of the $85B proposed deal. 2. NEW YORK TIMES: On Wednesday, President Trump tweeted once again about The New York Times (NYT), saying: "It is actually hard to believe how naive (or dumb) the Failing @nytimes is when it comes to foreign policy...weak and ineffective!" 3. TEREX: Terex (TEX) was among the 27 other companies on the U.S. Trade Mission to China led by President Donald Trump and Secretary of Commerce Wilbur Ross and hosted by China President Xi Jinping. The mission's purpose was to promote commercial opportunities for U.S. business in China. During the mission, Terex Utilities and Xuzhou Handler signed a letter of intent for Xuzhou to purchase 5,000 units of insulated aerial devices from Terex over a five-year period, with a total value of more than $250M. 4. TAX REFORM: House Republicans held a vote on their highly-anticipated tax overhaul plan Thursday and passed their version of a package of corporate and individual tax cuts. President Trump has been urging Republicans to pass tax legislation for months, with the House bill looking to slash the corporate tax rate, cut taxes for individuals and reduce the number of tax brackets. While the House has reached that passage step, the Senate must still pass its own version of a tax reform bill and then, most critically, the differences between the two must be reconciled before the President gets to make his final call. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
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