Trump Tariffs Will Hurt These Companies

11/23/2024 6:41:56 AM

(MENAFN- Baystreet) Stock markets are terrified of the trump tariffs. Not only will they increase costs for American consumers, but they will also hurt U.S. firms.

Walmart (WMT), whose stock jumped yesterday after posting Q3 non-GAAP EPS of $0.58, warned that tariffs would raise prices. A Walmart spokesperson said that tariffs could significantly increase costs for its customers. They continue to deal with the remnants of inflation.

Lowe's (LOW) said that it has nearly 40% of its costs of goods sold are sourced outside of the U.S. Consumers will pay more if the incoming government introduces new tariffs. LOW stock peaked at $287.01 and closed below $260. Home Depot Stock (HD) is steady, trading at 3.5% below its 52-week high.

Stanley Black & Decker (SWK) shares peaked at $110 in September before closing at $86.31. Tariffs are already costing nearly $100 million annually, according to CFO Patrick Hallinan.

In the technology sector, consumers should expect countries hit with tariffs to retaliate. That would increase supply costs for firms like Nvidia (NVDA), Qualcomm (QCOM), and Apple (AAPL).

Brace for demand for luxury goods to fall. Tariffs would hurt firms like Tapestry (TPR). In addition, consumers faced with higher costs would cut their spending at Ulta Beauty (ULTA) or LVMH. They may buy cheaper alternatives at e.l.f. Beauty (ELF).

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