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The Capitalist Newsletter – July 21, 2017

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PENALTY REVERSED IN ACA BATTLE; WHAT DOES THAT MEAN FOR YOU?

In a bold move to look like your cool uncle who sadly still rocks the mullet, Donald Trump has removed the Obamacare tax penalty for not carrying insurance by way of executive order. This was probably one of the more hated parts of a plan that was not at all the single payer (or even public option) platform Obama ran on in 2008. Despite holding a majority for two years in both houses, the ACA was what we got stuck with.

What’s next?

Read The Capitalist’s Take Here


U.S. GOVERNMENT FINES EXXON $2M OVER RUSSIA DEAL UNDER TILLERSON; EXXON SUES TO DISMISS

Exxon Mobil Corp sued the U.S. government on Thursday, blasting as “unlawful” and “capricious” a $2 million fine levied against it for a three-year-old oil joint venture with Russia’s Rosneft.

The U.S. Treasury Department on Thursday morning slapped the world’s largest publicly traded oil producer with the fine for “reckless disregard” of U.S. sanctions in dealings with Russia in 2014 when Secretary of State Rex Tillerson was Exxon’s chief executive.

Read More at Reuters Here

Read More at The Hill Here

Read More at CB News Here

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ROBERT MUELLER EXPANDS RUSSIA PROBE INTO TRUMP’S PERSONAL FINANCES AFTER PRESIDENT WARNS HIM NOT TO

Bloomberg News is reporting that the Russia investigation led by special counsel Robert Mueller is zeroing in on President Trump’s business transactions. The report quoted an anonymous source as saying that Trump’s financial ties to Russia are the focus: “FBI investigators and others are looking at Russian purchases of apartments in Trump buildings, Trump’s involvement in a controversial SoHo development with Russian associates, the 2013 Miss Universe pageant in Moscow and Trump’s sale of a Florida mansion to a Russian oligarch in 2008.” The Washington Post has not independently confirmed Bloomberg’s report.

Read More at The Washington Post Here

Read More at CNBC Here

Read More at The Hill Here


Closing Bell

– Thursday, July 20th

Markets See Flat Finish as Crude Dips

Big Insider Trades

– Zillow Group, Inc. (Z) CEO Spencer Rascoff Sells $1m

– International Flavors & Fragrances, Inc. (IFF) Stakeholder Winder Investment Buys Another $3.7m

Winners & Losers

– Avista Corp. (AVA) Rises UP (20.66%) on News the Company Will Sell to Canadian Firm Hydro One for $5.3 Billion

– MarineMax, Inc. (HZO) Sinks DOWN (24.56%) After Boat Retailer Reports Surprisingly Weak Revenue in Quarterly Earnings Report

Most Talked About

Avista Corporation (AVA) Considered a Unanimous Strong Buy After News the Company Will Sell to Canadian Firm Hydro One for $5.3 Billion

The TIP Sheets

– Thursday, July 20th

– QUALCOMM, Inc. (QCOM) Dips DOWN (4.95%) on Legal Troubles. The Company is Currently Facing Half a Dozen Major Lawsuits. Expect Shares to Continue DOWN

Unusual Volume

Aeterna Zentaris Soars UP Another (19.66%) on 47m Shares Traded After FDA Approves New Drug Application and Stock Sees Multiple Analyst Upgrades. Expect Shares to Continue UP

 

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