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Fly News Breaks for May 4, 2018
STMP
May 4, 2018 | 08:17 EDT
Roth Capital analyst Darren Aftahi raised his price target for Stamps.com to $255, telling investors in a research note that the Q1 outpeformance was driven by core strength and contribution from its Global Advantage Program. The analyst keeps a Buy rating on the shares.
News For STMP From the Last 2 Days
STMP
Jun 23, 2018 | 10:10 EDT
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. CHINA TARIFFS: Citing a White House statement, CNBC reported on Monday that the United States Trade Representative was ordered to identify $200B in China goods that would be subject to a 10% tariff. The statement added that duties will go into effect "if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced." Apple (AAPL) may be hurt if China holds true on warnings of "countermeasures" from the country's Commerce Ministry after President Donald Trump threatened additional tariffs late Monday on $200B worth of Chinese goods, Barron's said. Apple relies on Asian suppliers for its some of its components. 2. EU AUTOS: Earlier this week, The Wall Street Journal reported that Germany's leading carmakers support the abolition of all import tariffs for cars between the EU and the U.S. in an effort to find a peaceful solution to the brewing trade war. The U.S. ambassador to Germany, Richard Grenell, has held closed-door meetings with the chiefs of all major German automotive companies, including bilateral meetings with the CEOs of Daimler (DDAIF), BMW (BMWYY) and Volkswagen (VLKAY), the report added. On Wednesday, Daimler announced it has made a new assessment of the earnings potential for the year 2018, with the "decisive factor" being that fewer than expected Mercedes-Benz SUV sales and higher than expected costs must be assumed because of increased import tariffs for U.S. vehicles into the Chinese market. On Friday, President Trump tweeted that based on the tariffs and trade barriers "long placed on the U.S. and it great companies and workers by the European Union," if these tariffs and barriers are not soon broken down and removed, the U.S. will be placing a 20% tariff on all of their cars imported here. 3. ZTE DEAL: ZTE Corp. (ZTCOY) and the U.S. government are continuing to work on an escrow pact that must be completed and funded with $400M before a ban on the Chinese company can be lifted, according to Reuters. The Commerce Department official noted that working out the escrow deal was part of a "normal process," the report added. President Trump and a group of lawmakers from the Senate and House of Representatives are expected to meet at the White House to discuss their dispute over how to penalize ZTE Corp., Reuters reported, citing a White House spokeswoman. On Friday, Kayla Tausche of CNBC tweeted that the ZTE deal is "going forward -- Latest $1b fine has been paid to the US gov't, a senior administration official confirms. $400M escrow still in process." 4. LOCKHEED MARTIN: The U.S. Senate has passed the National Defense Authorization Act banning the transfer of F-35s to Turkey until the secretary of defense submits a plan to remove Turkey from participation in the program, including the allocation of production of parts to each country, the Financial Times reported. The move, which comes amid increasing tensions with Turkey over its plan to install the Russian S400 air defense system, could ultimately hold up the sale of 100 aircraft worth about $10B but Lockheed Martin (LMT) said it still expects to hand over initial F-35s to Turkey in an exchange on June 21, likely before the bill becomes law. 5. STAMPS.COM: Shares of Stamps.com (STMP) were under pressure on Thursday after the White House issued a statement on its "Reform Plan and Reorganization Recommendations." The Trump administration called for a "sustainable Postal Service," adding, "Restructure the United States Postal System and return it to a sustainable business model. The Postal Service's financial difficulties have been an issue raised by past Administrations, GAO, members of both parties in both chambers of Congress, and the Postal Service itself for years." Stamps.com is an approved licensed vendor of the Postal Service and offers access to all its services online. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
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