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Trump Trade: President-elect says worth keeping TikTok in U.S. for little while
The Fly

Trump Trade: President-elect says worth keeping TikTok in U.S. for little while

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:

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TIKTOK STAYING: President-elect Donald Trump indicated on Sunday that he favored allowing TikTok to keep operating in the United States for at least a little while, saying he received billions of views on the social media platform during his presidential campaign, Reuters’ Gram Slattery reports. Publicly traded companies in the social media space that compete with TikTok include Meta Platforms (META), Alphabet (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).

FOOD STAMP PROGRAM: Robert Kennedy Jr., President-elect Trump’s nominee to run the Health and Human Services Department, want to remove soda and processed foods from federal programs such as the Supplemental Nutrition Assistance Program, also known as food stamps, Laura Cooper and Kristina Peterson of The Wall Street Journal reports. Lobbyists for Coke (KO), PepsiCo (PEP), and Keurig Dr Pepper (KDP) are arguing their case, highlighting soda companies are selling more zero-sugar drinks and instead of restricting SNAP recipients’ options, Congress should fund programs that help low-income families access healthier foods.

DEPORTATION PLAN: Private prisons like Geo Group (GEO) CoreCivic (CXW) and other companies that provide detention services are getting ready to cash in on what President-elect Donald Trump has billed as “the largest domestic deportation operation in American history,” Elizabeth Findell, Tawnell Hobbs and Tarini Parti of Wall Street Journal report.

Some executives are considering whether to take up the controversial work of detaining families or unaccompanied children, while others are preparing to hire new staff and lobbyists, according to the Journal. Geo, which currently houses about 40% of Immigration and Customs Enforcement’s detainees, said on its last earnings call that it is looking at a potential doubling of all its services, while CoreCivic, the other major player in ICE detention centers, had a similar message for investors after the election, the paper points out.

STOCK PRICE TARGET CHANGES:

Loop Capital lowered the firm’s price target on E2open (ETWO) to $3 from $4, while keeping a Hold rating on the shares as part of a broader research note fine-tuning estimates on select Software names. The firm notes that its inputs with company management, field personnel, and potential buyers suggest that business fundamentals remain relatively consistent with recent quarters, setting the stage for most software vendors to report in line to slightly better-than-expected December prints.

For the company, however, Loop believes that while its global trade segment stands to benefit from potential U.S. tariffs from the incoming administration, and its Transportation Management System and ocean bookings businesses are poised to benefit from an improving freight market, these trends will likely take time before they show up in results.

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