Trump Weekly: Cracker Barrel controversy, high-profile firings, Intel stake

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 Trump with this weekly recap compiled by The Fly:

ROBERT PRIMUS FIRED: President Trump fired Robert Primus, a member of the Surface Transportation Board, which is reviewing Union Pacific’s (UNP) proposed takeover of Norfolk Southern (NSC), Esther Fung of Wall Street Journal reports. Primus is a Democrat who was nominated by Trump to the Surface Transportation Board in 2020. “This is deeply troubling and legally invalid,” Primus wrote in an email to The Wall Street Journal. He said he planned to continue his duties as a board member and that if he was prevented from doing so, he would seek legal options.

HHS SAYS CDC DIRECTOR OUT: According to a post on X, formerly Twitter, from the account of the U.S. Department of Health and Human Services, Susan Monarez is out as director of the CDC. “We thank her for her dedicated service to the American people,” the post reads. ” who will continue to be vigilant in protecting Americans against infectious diseases at home and abroad.” The Fly notes that Monarez was sworn into the position less than a month ago.

FED GOVERNOR FILES SUIT: Federal Reserve Governor Lisa Cook has sued the Trump administration in an effort to overturn the president’s attempt to fire her, launching an unprecedented legal battle that could significantly reshape the Fed’s longstanding political independence, Associated Press’ Christopher Rugaber reports. The lawsuit seeks an emergency injunction to block her firing and “confirm her status” as a member of the Fed’s governing board. “The President’s effort to terminate a Senate-confirmed Federal Reserve Board member is a broadside attack on the century-old independence of the Federal Reserve System,” Cook’s lawyer, Abbe David Lowell, wrote in a court filing.

TARIFFS ON INDIA: President Trump’s 50% tariffs on India took effect on Wednesday as punishment for that country’s buying Russian oil, one of the highest duties imposed during Trump’s global trade war, NBC News reports. Trump started the tariff rate at 25% but doubled it earlier this month as punishment for India buying Russian oil, making it one of the highest of the many tariffs imposed during Trump’s ongoing global trade war.

STAKE IN INTEL: President Trump said in a post on Truth Social, “It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.”

NO PLANS FOR STAKE IN NVIDIA: Treasury Secretary Scott Bessent said a U.S. stake in chipmaker Nvidia (NVDA) is not currently planned, but raised the possibility the administration could take stakes in other industries, Reuters reports, citing comments made in an interview with Fox Business. “I don’t think Nvidia needs financial support, so that seems not on the table right now,” Bessent said.

CRACKER BARREL LOGO: On Tuesday, President Donald Trump stated in a Truth Social post, “Cracker Barrel should go back to the old logo, admit a mistake based on customer response (the ultimate Poll), and manage the company better than ever before. They got a Billion Dollars worth of free publicity if they play their cards right. Very tricky to do, but a great opportunity. Have a major News Conference today. Make Cracker Barrel a WINNER again. Remember, in just a short period of time I made the United States of America the ‘HOTTEST’ Country anywhere in the World. One year ago, it was ‘DEAD.’ Good luck!”

Later that night, Cracker Barrel (CBRL) said on Facebook, “We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have. Our new logo is going away and our ‘Old Timer’ will remain. At Cracker Barrel, it’s always been – and always will be – about serving up delicious food, warm welcomes, and the kind of country hospitality that feels like family. As a proud American institution, our 70,000 hardworking employees look forward to welcoming you to our table soon.”

Meanwhile, President Trump said on social media, “Congratulations ‘Cracker Barrel’ on changing your logo back to what it was. All of your fans very much appreciate it. Good luck into the future. Make lots of money and, most importantly, make your customers happy again!”

OFFSHORE WIND FARM: After Orsted (DNNGY) announced Friday that its subsidiary Revolution Wind, a 50/50 joint venture with Global Infrastructure Partner’s Skyborn Renewables, received an order instructing the project to stop activities on the outer continental shelf related to the wind project from the U.S. Department of the Interior’s Bureau of Ocean Energy Management, Bloomberg’s Ari Natter reports that the Trump administration is working to halt development of an offshore wind project planned near Maryland.

US Wind, which is owned by funds managed by Apollo Global Management (APO) and a subsidiary of Toto Holding SpA, told Bloomberg in a statement, “We remain confident that the federal permits we secured after a multi-year and rigorous public review process are legally sound.” Companies with exposure to wind energy include Eversource (ES), NextEra Energy (NEE), GE Vernova (GEV) and Brookfield Renewable Partners (BEP).

COVID VACCINES: Dr. Aseem Malhotra, a British cardiologist and adviser to the lobby group Make America Healthy Again Action, told the Daily Beast that the Trump administration and Robert F. Kennedy Jr. will move to pull the COVID vaccine off the U.S. market “within months,” reported Tom Latchem. Makers of COVID vaccines include BioNTech (BNTX), Pfizer (PFE), Moderna (MRNA) and Novavax (NVAX).