Presidential Waiver of Statutory Requirements Pursuant to Section 303 of the Defense Production Act of 1950, as Amended
MemorandumInvestment or subsidySigned 02/13Federal Register 02/19Open the original
Summary
President Trump waives certain requirements of section 303 of the Defense Production Act for supply chains critical to reviving the defense industrial base, covering sectors identified in the September 2018 report, such as fixed-wing, rotary and unmanned aircraft.
By industry
- Defense1 trading day+2.0%p15 stocks5 trading days+3.5%p15 stocks20 trading days+3.3%p15 stocks
“supply chains critical to reviving the defense industrial base”
Day by day after the announcement
| Day | Defense stocks | S&P 500 |
|---|---|---|
| 26/02/12 | 0.0% | 0.0% |
| 26/02/13 | +1.9% | −0.1% |
| 26/02/17 | +1.9% | +0.0% |
| 26/02/18 | +4.2% | +0.5% |
| 26/02/19 | +6.8% | +0.3% |
| 26/02/20 | +4.5% | +1.0% |
| 26/02/23 | +2.9% | +0.1% |
| 26/02/24 | +3.8% | +0.7% |
| 26/02/25 | +1.9% | +1.8% |
| 26/02/26 | +3.8% | +0.6% |
| 26/02/27 | +4.2% | +0.3% |
| 26/03/02 | +5.6% | +0.4% |
| 26/03/03 | +5.1% | −0.5% |
| 26/03/04 | +4.8% | +0.5% |
| 26/03/05 | +2.7% | −0.3% |
| 26/03/06 | +4.6% | −1.6% |
| 26/03/09 | +4.9% | −1.1% |
| 26/03/10 | +1.3% | −0.8% |
| 26/03/11 | +1.4% | −1.7% |
| 26/03/12 | +0.8% | −2.2% |
| 26/03/13 | +0.3% | −2.9% |
Korean stocks in these industries
- Hanwha Aerospace 012450
- Korea Aerospace Industries 047810
- LIG Defense & Aerospace 079550
- Hyundai Rotem 064350
Trades in these industries around the announcement
Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.
- Mortimer J. Buckley
BuyBoeing
BuyBoeing
BA
$500K
2,230 sh
$500K
Filed 03/05
Traded 03/03
- Christopher T. Calio
SellRTX
SellRTX
RTX
$10.4M
51,107 sh
$10.4M
Filed 02/23
Traded 02/19
- Neil G. Mitchill Jr.
SellRTX
SellRTX
RTX
$4.8M
23,531 sh
$4.8M
Filed 02/23
Traded 02/19
- Christopher T. Calio
SellRTX
SellRTX
RTX
$2.3M
11,420 sh
$2.3M
Filed 02/23
Traded 02/19
- Neil G. Mitchill Jr.
SellRTX
SellRTX
RTX
$1.3M
6,303 sh
$1.3M
Filed 02/23
Traded 02/19
- Scott C. Donnelly
SellTextron
SellTextron
TXT
$12.8M
130,168 sh
$12.8M
Filed 02/18
Traded 02/13
- Neil G. Mitchill Jr.
SellRTX
SellRTX
RTX
$1.2M
5,921 sh
$1.2M
Filed 02/23
Traded 02/19
- Scott C. Donnelly
SellTextron
SellTextron
TXT
$8.8M
89,229 sh
$8.8M
Filed 02/18
Traded 02/13
- Phebe N. Novakovic
SellGeneral Dynamics
SellGeneral Dynamics
GD
$8.2M
23,011 sh
$8.2M
Filed 03/13
Traded 03/11
- Kathy J. Warden
SellNorthrop Grumman
SellNorthrop Grumman
NOC
$4.1M
5,734 sh
$4.1M
Filed 02/10
Traded 02/06
- Phebe N. Novakovic
SellGeneral Dynamics
SellGeneral Dynamics
GD
$3.5M
9,907 sh
$3.5M
Filed 03/13
Traded 03/11
- Shane G. Eddy
SellRTX
SellRTX
RTX
$3.5M
17,527 sh
$3.5M
Filed 02/13
Traded 02/12
- Kathy J. Warden
SellNorthrop Grumman
SellNorthrop Grumman
NOC
$3.3M
4,695 sh
$3.3M
Filed 02/10
Traded 02/06
- Jana Partners Management
SellMercury Systems
SellMercury Systems
MRCY
$32.4M
400,000 sh
$32.4M
Filed 02/11
Traded 02/09
- Julia Letlow
BuyBoeing
BuyBoeing
BA
$1K–$15K
Self
$1K–$15K
Reported 03/12
Traded 02/02
- Ramsaran Maharajh
SellRTX
SellRTX
RTX
$3.1M
15,124 sh
$3.1M
Filed 02/23
Traded 02/19
- Dantaya M. Williams
SellRTX
SellRTX
RTX
$2.6M
12,713 sh
$2.6M
Filed 02/23
Traded 02/23
- Kathy J. Warden
SellNorthrop Grumman
SellNorthrop Grumman
NOC
$2.5M
3,552 sh
$2.5M
Filed 02/10
Traded 02/06
- Howard E. McKenzie
SellBoeing
SellBoeing
BA
$2.5M
10,496.82 sh
$2.5M
Filed 02/05
Traded 02/05
- Christopher T. Calio
SellRTX
SellRTX
RTX
$213.7K
1,041 sh
$213.7K
Filed 02/23
Traded 02/19