Monday, December 18, 2017
Business

Here's how some Tampa Bay area stocks fared the day after Donald Trump's election

Here's how some stocks of companies either based in the Tampa Bay area or with a significant footprint here responded the day after the election of Donald Trump as president:

Company: Raymond James Financial, St. Petersburg

Stock price: Up 6.5 percent to $65.30.

Why and what's in store: Scared investors seeking safe havens are moving their money around. That means more business for Raymond James. A Trump victory also puts in limbo the Labor Department's "fiduciary rule" to raise investment advice standards. Raymond James is fighting the rule, and a new administration and the Republican-controlled Congress may listen.

Company: Duke Energy, Charlotte, N.C.

Stock price: Down 2.95 percent to $77.30.

Why and what’s in store: Trump’s advocacy of coal runs counter to utilities like Duke Energy Florida that are busy closing coal plants and replacing them with new ones powered by natural gas or renewables.

Company: WellCare Health Plans, Tampa

Stock price: Down 8.6 percent to $117.24.

Why and what's in store: Companies that benefited from President Barack Obama's health care legislation, the Affordable Care Act, took heavy losses. Trump has said he would repeal the law. One of the nation's largest hospital chains (and owner of Bayfront Health), the already struggling Community Health Systems, plunged 21.7 percent.

Company: Bristol-Myers Squibb, New York

Stock price: Up 5.9 percent to $56.30.

Why and what's in store: Pharmaceutical companies rose on the expectation Trump and a Republican-controlled Congress are less likely to crack down on rising drug prices. New York-based Bristol-Myers Squibb opened its multifunction North America Capability Center in Tampa nearly two years ago.

Times staff and wires

   
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