Connect with us

Business

EU’s US Whiskey Tariffs To Double from 25% to 50% by June

The Capitalist

Published

on

Jack Daniels bottle with a rose, a glass of whiskey and some LP records on wooden surface-US Whiskey Tariffs-ss-featured

In Kentucky’s Bourbon Belt. whiskey makers continue to bear the brunt of US whiskey tariffs of 25% imposed by the European Union. This coming June, the EU will enforce double the tariffs, making it 50%. Meanwhile, US whiskey exports to the UK and EU have fallen by 53% from 2018.

News For Today: Get Ready for Trump’s Own Social Media Platform

5 Stocks to Watch Out For Monday, March 22 

FedEx Corporation ▲(FDX 279.58 USD +16.07 (6.10%)) stocks jumped during Friday’s trading by more than 6%. The delivery services firm reported it beat expectations in its fiscal 3rd quarter, generating $3.47 in adjusted earnings per share on $21.51 billion in revenue. This is a substantial improvement over analyst predictions of $3.23 in earnings per share and $19.97 billion of revenue. 

Occidental Petroleum Corporation ▲(OXY 28.10 USD +1.48 (5.56%)) shares rallied 5.56% Friday amid the carnage in the S&P 500 and Dow Jones.  OXY outperformed its industry rivals as it escaped the fate of most energy companies as they endured a day of slight losses. Oil remains poised to rebound, but recovery will take a little more time as most prudent analysts warned. 

Peloton Interactive Inc ▲(PTON 108.31 USD +5.57 (5.42%)) stocks went up during Friday’s trading by 5.42%. The spate of home treadmill accidents involving Peloton’s Tread+ machines knocked the stock back a few pegs down. However, fiscal 2021 second-quarter results show that the average monthly workouts increased from 12.6 a year ago to 21.1 this year, while the annual membership retention rate remained at 92%. 

Novavax, Inc. ▲(NVAX  228.25 USD +10.99 (5.06%)) stocks rose more than 5% as it reported encouraging results from its UK phase 3 trial as well as it’s South African phase 2 trial. The company reported 96% efficacy against the original coronavirus, 86.3% efficacy against the UK strain, and 55.4% efficacy against the South African variant.  Novavax will wait for its US results then proceed to apply for an Emergency Use Authorization request.

Dollar General Corp. ▲(DG 187.78 USD +8.98 (5.02%)) shares stayed bullish, registering a gain of 5.02% during Friday’s close. While many analysts reduced their price targets for the company, still many remained bullish and maintained their optimistic ratings. From a previous high price target of $260 from Jefferies and a low of $235 (KeyBanc), the adjusted targets now range from $250 (Jefferies) to $206 (RBC). Wall Street remains bullish despite the price target adjustment, as the company took a conservative stance and did not factor in any windfalls from stimulus spending. Stay tuned for this one. 

You Might Also Like:

Keep up to date with the latest finance news by following us on Facebook and Instagram.

Click to comment

Leave a Reply

Your email address will not be published.

Subscribe To Our Newsletter:

Free T-Shirt

Copyright © 2020 The Capitalist. his copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.

[email]
[email]