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Factbox - Trump tweets jolt shares of targeted companies
January 6, 2017 / 9:01 PM / a year ago

Factbox - Trump tweets jolt shares of targeted companies

(Reuters) - Donald Trump’s threat to impose a fee on Toyota Motor in a tweet Thursday made the automaker the latest in a series of companies targeted by the U.S. president-elect. Some of the companies have seen volatile price spikes in their shares after the tweets.

A Toyota logo is seen on media day at the Mondial de l'Automobile, the Paris auto show, in Paris, France, September 29, 2016. REUTERS/Jacky Naegelen/File Photo

Following is a list of companies targeted in Trump’s tweets.

Toyota Motor Corp: Trump, who campaigned on promises to keep manufacturing business in the United States, tweeted that he would impose a fee if the Japanese automaker built its Corolla cars for the U.S. market in Mexico. Toyota’s U.S.-listed shares (TM.N) (7203.T) fell 0.6 percent on Thursday and were down just 0.3 percent on Friday.

General Motors Co (GM.N): Trump on Tuesday threatened a “big border tax” on GM for making its Chevy Cruze model in Mexico. GM’s shares fell briefly in premarket trade following the tweets, but reversed course to finish the day up 6.5 percent. Upbeat sales data on Wednesday further buoyed the stock for the automaker’s best two-day performance early November. The stock has given back some of the gains and is now up 4.4 percent since Tuesday.

Lockheed Martin Corp (LMT.N): Trump on Dec. 12 tweeted about the U.S. defence company’s F-35 fighter jet programme, calling it “out of control.” Lockheed Martin shares dropped more than 3 percent in the following two sessions, the worst two-day performance for the stock in five weeks.

Lockheed’s stock is up 0.4 percent since then, but has underperformed the broad S&P 500 index. It has outperformed the NYSE Arca Defense index .DFII, which has slipped 0.3 percent, over the same time frame.

Rexnord Corp (RXN.N): Trump on Dec. 2 tweeted over Rexnord’s plans to move operations to Mexico and fire U.S. workers. Rexnord shares fell more than 1 percent after the tweet. The shares had dropped nearly 8 percent in the two sessions prior to the tweet after Rexnord announced a convertible offering; they are up 2.6 pct since the tweet.

Other companies Trump has targeted in his tweets include another top automaker, Ford Motor Co (F.N), and other defence-related and aerospace companies, United Technologies Corp. (UTX.N) and Boeing Co (BA.N).

Reporting by Caroline Valetkevitch and Chuck Mikolajczak; Editing by Leslie Adler

Our Standards:The Thomson Reuters Trust Principles.
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