Trump Trade: Justice Dept to file antitrust case against egg producers

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.

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CARGO SHIP: President Trump said on social media, “Today, an Iranian-flagged cargo ship named TOUSKA, nearly 900 feet long and weighing almost as much as an aircraft carrier, tried to get past our Naval Blockade, and it did not go well for them. The U.S. Navy Guided Missile Destroyer USS SPRUANCE intercepted the TOUSKA in the Gulf of Oman, and gave them fair warning to stop. The Iranian crew refused to listen, so our Navy ship stopped them right in their tracks by blowing a hole in the engineroom. Right now, U.S. Marines have custody of the vessel. The TOUSKA is under U.S. Treasury Sanctions because of their prior history of illegal activity. We have full custody of the ship, and are seeing what’s on board!”

TALKS TO RESUME: President Trump said on Sunday via social media, “Iran decided to fire bullets yesterday in the Strait of Hormuz – A Total Violation of our Ceasefire Agreement! Many of them were aimed at a French Ship, and a Freighter from the United Kingdom. That wasn’t nice, was it? My Representatives are going to Islamabad, Pakistan – They will be there tomorrow evening, for Negotiations. Iran recently announced that they were closing the Strait, which is strange, because our BLOCKADE has already closed it. They’re helping us without knowing, and they are the ones that lose with the closed passage, $500 Million Dollars a day! The United States loses nothing. In fact, many Ships are headed, right now, to the U.S., Texas, Louisiana, and Alaska, to load up, compliments of the IRGC, always wanting to be “the tough guy!” We’re offering a very fair and reasonable DEAL, and I hope they take it because, if they don’t, the United States is going to knock out every single Power Plant, and every single Bridge, in Iran. NO MORE MR. NICE GUY! They’ll come down fast, they’ll come down easy and, if they don’t take the DEAL, it will be my Honor to do what has to be done, which should have been done to Iran, by other Presidents, for the last 47 years. IT’S TIME FOR THE IRAN KILLING MACHINE TO END!”

ANTITRUST CASE: The Justice Department is preparing to file an antitrust lawsuit against some of the country’s biggest egg producers, including Cal-Maine Foods (CALM) and Versova, over allegations “they coordinated pricing through an information service that benchmarks prices for the industry,” according to the Wall Street Journal‘s Dave Michaels, citing people familiar with the matter. No final decision has been made on the egg case, and the department and egg producers could reach a settlement that avoids litigation, the sources added.