Goldman Sachs (GS) expects to take a $5 billion hit to profits for the fourth quarter of the year because of Trump’s new tax law. Goldman said two thirds of it are due to changes in repatriation taxes, and the remainder includes the “effects of the implementation of the territorial tax system” and remeasurement of U.S. deferred tax assets. Goldman shares are down on the news.
Up next Tesla (TSLA), getting some love on Wall Street. Global Equities Research analyst Trip Chowdhry believes Tesla will very likely meet, and maybe exceed, its delivery guidance for Model S and Model X units, and that the Model 3’s production was “nicely ramping up.” Shares are flat today, but down 15% over the past 6 months.
Amazon (AMZN) is drawing more ire from President Trump. In a tweet this morning, Trump noted the U.S. Postal Service is losing billions, while Amazon is getting richer because the post office charges so little. Trump said the Postal Service “should be charging MUCH MORE!” Amazon shares are lower today.
Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer? Should be charging MUCH MORE!
— Donald J. Trump (@realDonaldTrump) December 29, 2017