Donald Trump has made his most successful attempt yet at making a general election pivot in recent days (or perhaps setting himself up to launch a media empire post-November). Trump-friendly stocks, however, have been struggling.
Our Donald Trump Stock Portfolio, a set of 15 stocks that could fare well under a Trump presidency, fell 2.11% from market close Friday, August 12 to Friday, August 19. This marks the portfolio's worst week yet since its August launch.
The biggest drag on the portfolio is the The GEO Group (GEO - Get Report) . The private prison operator plunged 26.98% last week, ending trading Friday at $23.68. The stock's plummet was largely a reaction to the Department of Justice's decision Thursday that it would end its use of private prisons. In 2015, 45% of GEO's revenue came from the Federal government. GEO Group CEO George Zoley in a conference call Friday said that there had been an "overreaction to the news."
Lockheed Martin (LMT - Get Report) took a hit last week as well, with its price falling 3.8% to $254.12 at market close Friday. Shares of the security and aerospace company slid after it completed the $4.6 billion spinoff of its IT services businesses to Leidos Holdings.
U.S. Steel (X - Get Report) , which was the worst performer in the Trump portfolio the week before last, continued to drag. Its price fell 3.23% last week to $20.38. KeyBanc downgraded the stock last week to "underweight" from "sector weight," pulling the stock lower. Despite the dip, U.S. Steel is still up more than 150% year-to-date.
Six stocks in the Trump portfolio ended last week in the green. The best performer was Tetra Tech (TTEK - Get Report) , which climbed 2.06% to $34.70. The Pasadena, Calif.-based company is up over 30% in 2016.
Elbit Systems (ESLT - Get Report) gained 1.71% last week, ending trading Friday at $102.55. The Israeli defense electronics company announced second-quarter earnings last week, saying it earned $1.47 per diluted share during the period, up from $1.25 a year earlier. Its revenue grew to $804.5 million from $749.6 million.
Shares of Boeing (BA - Get Report) gained 1.01%, reaching $134.44. The Air Force said on Thursday that it has awarded the company a $2.8 billion contract for 19 KC-46A aerial refueling tankers. Boeing Defense president and CEO Leanne Caret called the move an "important day for the company and program" in a statement.
Here's how the entire Trump portfolio did last week, leading with the top gainers:
Tetra Tech 2.06%
Elbit Systems 1.71%
Capital One Financial COF 0.82%
Oracle ORCL 0.56%
Bitcoin Investment Trust GBTC 0.51%
ExxonMobil XOM -0.06%
Northrop Grumman NOC -0.36%
Randgold GOLD -0.47%
Microsoft MSFT -0.55%
Cemex CX -0.92%
Steel Dynamics STLD -1.98%
U.S. Steel -3.23%
Lockheed Martin -3.80%
The GEO Group -26.98%