$80.140
+0.305 (+0.38%)At close
ADM News
ADM Events
Trump Announces Reduced Canadian Tariffs Impacting Agriculture and Defense Industries
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 Donald Trump with this daily recap compiled by The Fly.TARIFFS:President Trump announced reduced Canadian tariffs on certain products. In a proclamation, Trump said, "Except as otherwise provided in this proclamation, certain products of Canada, as set forth in Annex I, Part A to this proclamation, imported into the United States shall no longer be subject to the additional ad valorem duty of 50 percent imposed pursuant to Proclamation 11048, as amended. In addition, certain products of Canada, as set forth in Annex I, Part B to this proclamation, imported into the United States shall be subject to the additional ad valorem duty of 50 percent imposed pursuant to Proclamation 11048, as amended. The duties imposed pursuant to Proclamation 11048, as amended, and as modified in this proclamation, shall apply in addition to duties imposed pursuant to section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862). These changes shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern time on October 30, 2026." Publicly traded companies in the agriculture space include Andersons, Archer Daniels, Bunge, CF Industries, Compass Minerals, Intrepid Potashand Mosaic. Names in the forestry space include West Fraser Timber, LP Building Solutions, UFP Industriesand Boise Cascade.SOP PROJECT:Intrepid Potash announced that the U.S. Department of Agriculture, USDA, selected Intrepid's sulfate of potash, SOP, project for approximately $139M in proposed matching funding to support the construction of a SOP manufacturing facility near Carlsbad, New Mexico, through its Fertilizer Investment & Expansion for Long-Term Domestic Supply, FIELDS, program. If constructed, the SOP plant would introduce a new product to Intrepid's portfolio, further diversifying the Company's product offerings and expanding its presence in specialty fertilizer markets by complementing its Trio and potash fertilizer products.NAVY CONTRACT:Lockheed Martinwas awarded a $114.63M cost-plus-fixed-fee order against a previously issued basic ordering agreement. This order provides nonrecurring engineering, redesign, integration, qualification, and testing for two F-35 Lightning II navigation systems: the Global Positioning System Electronic Unit and the NAV100 Inertial Navigation System. The effort will replace obsolete electronic components while maintaining system performance and compatibility with existing aircraft systems. These redesigns are intended to prevent production disruptions, address diminishing manufacturing sources, and support the continued production and sustainment of F-35 aircraft for the Air Force, Navy, Marine Corps, and F-35 cooperative program partners. Work is expected to be completed in January 2030. FY26 aircraft procurement funds in the amount of $46.41M; FY26 aircraft procurement funds in the amount of $46.41M and F-35 cooperative program partner funds in the amount of $21.81M, will be obligated at the time of award. This order was not competitively procured. Naval Air Systems Command is the contracting activity.CACIhas been awarded a five-year task order valued at up to $281M by the U.S. Navy's Naval Surface Warfare Center Crane to support in strengthening and advancing next-generation electromagnetic warfare capabilities across the Department of War. As part of this work, CACI will deliver research, analysis, assessment, and prototype development to enhance electromagnetic spectrum operations across multiple operational environments.
Major Averages Decline as Oil Prices Surge
The major averages closed broadly lower as oil prices jumped and investors increasingly demand evidence that massive capital investments for AI will translate into sustainable profits. Next week's results from Microsoft, Alphabet and Amazon are likely to provide important signals in that ongoing debate, which is key to the market's direction.Meanwhile, oil prices are surging once again, surpassing the $100 per barrel threshold as uncertainty over efforts to resume U.S.-Iran negotiations raises concerns about further supply disruptions.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceXis seeking to secure at least 80,000 cell sites across the U.S. and is in talks with Crown Castleto achieve that goal as the company aims to establish a nationwide wireless carrier, Bloomberg reportsAmerican Expressreported upbeat Q3 earnings, provided guidance for FY26, and announced it will cut 5% of its workforce as part of a restructuring effortApple'snew foldable iPhone Duo is arriving in stores FridayWestern Digitalreported better-than-expected Q1 results and provided an upbeat outlook for Q2Bristol Myersdisclosed that one patient with highly active relapsing multiple sclerosis experienced a fatal event of septic pneumonia in an early stage trial2. WALL STREET CALLS:Phillip Securities upgraded SpaceXto Buy from SellNorwegian Cruise Linedowngraded to Underweight at JPMorgan ahead of Q3 reportJPMorgan upgraded Skydanceto Neutral from UnderweightDeckers Outdoordowngraded to Underweight at Piper SandlerMSC Industrialupgraded to Buy at Jeffries3. AROUND THE WEB:The Trump administration will remove 50% tariffs on certain Canadian products on certain agricultural and forestry products, WSJ reportsAn Australian federal judge has ruled that Applemust let Australian iPhone users install apps from third-party app stores starting March 1, 2027, 9to5Mac saysA Micronlabor union staged Taiwan's first-ever strike in the semiconductor industry on Thursday, Nikkei Asia reportsCitihas received Chinese regulatory approval to establish a wholly owned securities business in Shanghai, Reuters reportsInstacartis working with bankers to explore a sale, The Information reports4. MOVERS:RingCentralgains after reporting Q3 results, providing guidance for Q4, and raising its outlook for FY26Rithm Capitalincreases after reporting Q3 results, with EPS and revenue beating consensusBloom Energyfalls after reporting Q3 results and raising its outlook for FY26Phathom Pharmaceuticalslower after giving an update on its litigation filed by BDR PharmaceuticalsTango Therapeuticsdeclines after announcing results from its ongoing study of vopimetostat5. EARNINGS/GUIDANCE:Booz Allenreported Q2 results and raised its guidance for FY27Flagstar Bankreported Q3 results and lowered its outlook for FY26 and FY27First National Corp.reported Q3 results, with CEO Scott Harvard noting he was "extremely pleased with our record financial performance"LKQreported preliminary Q3 results and withdrew its guidance for FY26Autolivreported Q3 results and reaffirmed its guidance for FY26INDEXES:The Dow fell 652.82, or 1.23%, to 52,215.16, the Nasdaq lost 53.52, or 0.21%, to 25,955.34, and the S&P 500 declined 39.75, or 0.52%, to 7,623.68.
Trump Signs Executive Order to Adjust Wind Turbine Imports
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 Donald Trump with this daily recap compiled by The Fly.WIND TURBINES:President Trump on Thursday signed an Executive Order to adjust imports of wind turbines and their components and subcomponents into the United States, noting that the Secretary of Commerce found and advised the president of his opinion that "wind turbines and their components and subcomponents are being imported into the United States under such circumstances as to threaten to impair the national security of the United States and provided me recommendations for action under section 232 to adjust the imports of wind turbines and their components and subcomponents so that such imports will not threaten to impair the national security of the United States," leading the president to "determine that it is necessary and appropriate to enter into negotiations with foreign trading partners to adjust the imports of wind turbines and their components and subcomponents to address the national security threat found in this proclamation." Publicly traded companies in the wind turbine space include GE Vernova, Howmet Aerospace, and Berkshire Hathaway'sPrecision Castparts.MORTGAGE COSTS:President Trump on Thursday also signed an Executive Order to "lower the costs of single-family homeownership and mortgages and promote innovation throughout the housing market." The Order directs the Director of the Federal Housing Finance Agency to create a pilot program to cancel borrowers' mortgage insurance premiums proactively once they have satisfied their equity requirements based on the current market value, which will "eliminate a large monthly expense for qualifying Americans across the country." The Order also establishes the Task Force on Manufactured Housing Innovation to increase the quality of and lower the cost of building a home and directs the FHFA Director to reduce homeowners' refinancing costs by expanding the FHFA's title insurance waiver pilot into a permanent program to allow more borrowers to utilize cost-friendly alternatives to title insurance and to reduce the closing costs of refinancing and monthly expenses associated with homeownership.STARLINK RESTRICTIONS:President Trump called SpaceXhead Elon Musk and asked him to lift restrictions on a military-grade version of Starlink in Ukraine, The Wall Street Journal's Alexander Ward and Lara Seligman. U.S. and Ukrainian officials said the Starlink system was working more normally on Thursday, shortly after the conversation, according to the report. Trump had told officials he was frustrated that Starlink speeds were capped, which rendered some Ukrainian drones powerless against Russian attacks.FERTILIZER MANUFACTURING:Vice President J.D. Vance and Secretary of Agriculture Brooke Rollins announced the selection of eight fertilizer manufacturing projects to receive funding through the U.S. Department of Agriculture's Fertilizer Investment & Expansion for Long-Term Domestic Supply Program. The eight selected projects represent more than $1.34B in total proposed investment, including approximately $573M in proposed USDA funding, to strengthen domestic fertilizer manufacturing, reduce America's dependence on foreign suppliers, and increase long-term fertilizer availability for American farmers.TalusAg was selected for approximately $99.8M in proposed USDA funding toward a $270.2M project to deploy 20 modular ammonia manufacturing units across 11 locations in seven states. Peace Valley was selected for approximately $19.9M in proposed USDA funding toward a $50.6M project to expand fertilizer manufacturing in Bartow, Florida. PCI Nitrogen was selected for approximately $100M in proposed USDA funding toward a $200M project to modernize fertilizer manufacturing facilities in Pasadena, Texas, and St. Helens, Oregon. Intrepid Potash was selected for approximately $47.4M in proposed USDA funding toward a $98.1M project to modernize and expand an existing ammonia manufacturing facility in Hopewell, Virginia. SUL4R-PLUS Illinois was selected for approximately $34.9M in proposed USDA funding toward a $69.7M project to expand an existing sulfur fertilizer manufacturing facility in Marissa, Illinois. True Organic Products was selected or approximately $15.3M in proposed USDA funding toward a $30.6M project to expand fertilizer manufacturing at facilities in Helm, California; Boardman, Oregon; and Arlington, Arizona. And Agriculture Project Holdco was selected for approximately $116.9M in proposed USDA funding toward a $360M project to develop two fertilizer manufacturing facilities in Lewis, Kansas, and Fair Oaks, Indiana.Other publicly traded companies in the agriculture space include Andersons, Archer Daniels, Bunge, CF Industries, Compass Minerals, and Mosaic.FOOD PRODUCERS:Calley Means, a senior adviser to Health Secretary Robert F. Kennedy Jr. and a vocal proponent of the "Make America Healthy Again" movement, quit his role on Thursday, he told The Wall Street Journal. Means was frustrated by White House delays of some of Kennedy's most popular policy ideas and blamed others in the administration for allowing food companies and special interests to have too much sway, the Journal's Liz Essley Whyte, citing people familiar with the matter. The resignation could be viewed positively for the large food producers. Shares of Mondelez, PepsiCo, General Mills, Kraft Heinz, J.M. Smuckerand Coca-Colamoved higher following the news.
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.