Trump Trade: President-elect prepares executive orders to boost fossil fuels

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-elect Trump with this daily recap compiled by The Fly:

FOSSIL FUELS: President-elect Donald Trump is preparing executive orders that will be aimed at boosting American fossil fuels and undoing his predecessor’s push for the country to adopt electric vehicles, Collin Eaton, Benoit Morenne and Scott Patterson of The Wall Street Journal report. It is expected that Trump will instruct agencies to unwind President Biden’s limits on drilling offshore and on federal land. Publicly traded companies in the space include Baker Hughes (BKR), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), SLB (SLB), Transocean (RIG) and Weatherford (WFRD).

TECH INVESTIGATIONS: Brussels is reassessing its investigations of tech groups including Apple (AAPL), Meta (META), and Google (GOOGL) as the U.S. companies urge president-elect Donald Trump to intervene against what they characterize as overzealous E.U. enforcement, Javier Espinoza and Henry Foy of The Financial Times report. The review will cover all cases launched since March of last year under the E.U.’s digital markets regulation, two officials briefed on the move told the Times.

SUPPLY CHAIN SHIFTS: China is tightening its scrutiny of Apple and other U.S. tech firms’ exports under its dual-use export controls, slowing production expansion in Southeast Asia and India, as U.S. President-elect Donald Trump again prepares to take office, Nikkei Asia’s Lauly Li reports. The tighter custom checks have resulted in delays of days or even weeks on shipments of production equipment and materials to Vietnam an India, according to the report.

VIRAL HOAXES IDENTIFICATION: Meta has dismantled a system that identified viral hoaxes and limited their reach, and has told content-ranking teams to stop penalizing misinformation, Platformer’s Casey Newton reports, citing sources and an internal document. Last week, Meta announced a series of changes to its content moderation policies and enforcement strategies designed to curry favor with the incoming Trump administration, ending its fact-checking program in the U.S., creating carve-outs in its community standards, and killing its DEI program.

PRICE TARGET CHANGES: Citi has lowered the firm’s price targets on several names as part of a Q4 earnings preview for the beverages, household and personal care sector. Currency headwinds on the dollar strength are likely to bring down 2025 earnings growth outlooks to low- to mid-single-digits for most names with international exposure, the firm tells investors in a research note. Citi also expects a focus on potential implications from the incoming Trump administration on tariffs, immigration, product reformulations, and corporate taxes. Names the firm is positive on into the print include Coca-Cola (KO), Clorox (CLX), and Boston Beer (SAM), while it is cautious on Kenvue (KVUE), Monster Beverage (MNST), and Colgate-Palmolive (CL). Citi lowered its price targets on

• Neutral-rated Newell Brands (NWL) to $10.50 from $11.50;
• Sell-rated Kimberly-Clark (KMB) to $118 from $125;
• Neutral-rated Kenvue (KVUE) to $21 from $25;
• Neutral-rated Coty (COTY) to $7.50 from $8;
• Neutral-rated Brown-Forman (BF.B) to $39 from $46;
• Neutral-rated Boston Beer to $290 from $335.