Tuesday at 4 p.m. ET was the deadline for companies to propose designs for President Trump's border wall with Mexico.
The government won't identify companies until contracts are awarded around June 1 - and even then, only the winners - but some bidders released plans on their own, including big ideas like place for solar panels, tourist attractions, nuclear waste or ballistic concrete.
U.S. Concrete (USCR +3.4%) is higher after DA Davidson analyst Brent Thielman says its disclosure last week of an auditor change and the CFO's resignation are unrelated and raise unnecessary concerns, and that it could not have hired Ernst & Young if a material concern had existed.
According to The Fly.com, Thielman also says USCR has significant capital available to deploy, and could attract a new DVO with more extensive M&A and/or materials industry experience.
The firm rates USCR as a Buy with an $80 price target, and views the recent pullback as a buying opportunity.
Mexican cement giant Cemex (NYSE:CX) rose 2.6% in today's trade despite deciding against bidding as a supplier to Pres. Trump’s proposed wall between the Mexico-U.S. border, giving up profits in the face of a potential backlash in its home country.
CX has cement plants on both sides of the border and had been seen by analysts as potentially one of the biggest beneficiaries of the wall, but it could still benefit from a boost in general demand for cement, which would help all suppliers indirectly.
According to a company presentation today, CX sees cement demand growing 4%-6% on public works such as the 2015 Fixing America’s Surface Transportation Act, Trump’s infrastructure plan and the potential wall.
Infrastructure-related shares are higher premarket after President Trump called on Congress to pass legislation paving the way for a $1T infrastructure project.
"Crumbling infrastructure will be replaced with new roads, bridges, tunnels, airports and railways gleaming across our beautiful land," he said in his address last night. "The time has come for a new program of national rebuilding."