Stocks End Mixed After Bouncing Around for Much of the Day
- 6 years ago
Stocks End Mixed After Bouncing Around for Much of the Day
In a note earlier this week, after the bill was largely complete, Barclays analyst Maneesh Deshpande said the bill will reduce the
effective tax rate for S&P 500 companies to 20.7 percent from 26 percent because of changes taxation for profits made overseas.
He said household goods companies, banks and industrial companies will get the largest tax cuts, while technology
and health care companies won’t see as much of a difference.
FedEx also said the tax bill could boost its profit this year by $4.40 to $4.50 a share
because of changes in its deferred tax liabilities as well as a reduced tax rate.
The Senate narrowly passed the tax bill after midnight and the House, which passed a similar bill Tuesday
but had to go back and make changes, followed suit in the afternoon.
NEW YORK — U. S. stocks bounced around Wednesday and finished little changed after Congress passed the Republican-sponsored tax bill.
In a note earlier this week, after the bill was largely complete, Barclays analyst Maneesh Deshpande said the bill will reduce the
effective tax rate for S&P 500 companies to 20.7 percent from 26 percent because of changes taxation for profits made overseas.
He said household goods companies, banks and industrial companies will get the largest tax cuts, while technology
and health care companies won’t see as much of a difference.
FedEx also said the tax bill could boost its profit this year by $4.40 to $4.50 a share
because of changes in its deferred tax liabilities as well as a reduced tax rate.
The Senate narrowly passed the tax bill after midnight and the House, which passed a similar bill Tuesday
but had to go back and make changes, followed suit in the afternoon.
NEW YORK — U. S. stocks bounced around Wednesday and finished little changed after Congress passed the Republican-sponsored tax bill.