Trump Trade: U.S. could cancel additional $12B in clean energy funding

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:

CLEAN ENERGY FUNDING: The White House is weighing canceling an additional $12B in funding for clean energy projects beyond what it announced a week ago, Semafor’s Tim McDonnell reports, citing a list of targeted projects. The so-called “kill list,” as it was referred to by a source who reviewed it, would amount to an escalation of the Trump administration’s attacks on clean energy, as well as a sign that the White House is using the current government shutdown as a pretext for accelerating its broader policy agenda, the author notes. Publicly traded companies in the space include GE Vernova (GEV), Eversource (ES), NextEra Energy (NEE), Brookfield Renewable Partners (BEP), Array Technologies (ARRY), Canadian Solar (CSIQ), Emeren (SOL), Enphase Energy (ENPH), FTC Solar (FTCI), First Solar (FSLR), JinkoSolar (JKS), Maxeon Solar (MAXN), Shoals Technologies (SHLS), SolarEdge (SEDG), SunPower (SPWR) and Sunrun (RUN).

INTEL CEO: When President Donald Trump criticized Intel (INTC) CEO Lip-Bu Tan in August, Microsoft’s (MSFT) Satya Nadella, Nvidia’s (NVDA) Jensen Huang, and tech founder Michael Dell were among the executives who reached out to Trump or his top aides to talk up Tan’s credentials and patriotism, Semafor’s Rohan Goswami and Liz Hoffman report. According to people familiar with the matter, the conversations, which came ahead of Tan’s August 11 meeting with Trump at the White House, appear to have helped soften the criticisms. “President Trump and the Administration are in regular contact with business leaders,” White House spokesman Kush Desai said. “The only factor guiding President Trump’s decision-making, however, is the best interest of the American people.”

U.S. TIES: Hyundai Motor (HYMTF) Executive Chair Euisun Chung had hoped the company could appease the Trump administration by making aggressive moves to deepen its ties to the U.S., but the immigration raid last month led to the company becoming an example of the pitfalls of trying to anticipate how the administration will implement its policies, Timothy Martin and Jiyoung Sohn of The Wall Street Journal report.

TOP DRUGMAKERS: BlinkRx, an online prescription drug delivery company with Donald Trump Jr. on its board, is hosting a summit for top drugmakers, The Wall Street Journal’s Annie Linksey and Josh Dawsey report. The summit, co-hosted by 1789 Capital, which led a $140M funding round for BlinkRx, is expected to include senior Trump administration officials, according to the report, which adds that BlinkRx stands to benefit from a shake-up of how patients buy drugs after President Trump urged pharmaceutical companies to sell their medicines directly to consumers. Other publicly traded companies in the space include GoodRx (GDRX).