0828 GMT - U.K. defense groups such as BAE Systems, Melrose Industries and QinetiQ could take a hit if U.S. lawmakers enact President Trump's One Big Beautiful Bill Act, Citi analyst Charles Armitage says. The act, which has cleared the House of Representatives and is due to be voted at the Senate, includes a provision that could facilitate penalty taxes on foreign companies operating in the U.S. if their home country is deemed to have a "discriminatory" tax system. Armitage says much of the European Union and the U.K. will likely qualify. BAE Systems, with between 45% and 50% sales in the U.S. could suffer a 3% downside to earnings per share in the first year, rising to about 12% in the fourth year, assuming no mitigation occurs, he adds. BAE Systems trades up 1.5% at 19.47 pounds. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
June 03, 2025 04:32 ET (08:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。