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1.93 MB
Extraction Summary
2
People
12
Organizations
5
Locations
2
Events
1
Relationships
3
Quotes
Document Information
Type:
Financial research report / equity strategy focus point
File Size:
1.93 MB
Summary
This document is page 12 of a Bank of America Merrill Lynch Equity Strategy report dated January 29, 2017. It analyzes the financial implications of corporate cash repatriation and the proposed 'border adjustment tax' under the Trump administration. The text discusses offshore holdings of major tech and pharma companies (AAPL, MSFT, etc.) and references comments by Donald Trump and Sean Spicer regarding tax policy. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was part of a document production to the House Oversight Committee.
People (2)
| Name | Role | Context |
|---|---|---|
| Donald Trump | President of the United States (implied context) |
Mentioned regarding his comments on the 'border adjustment tax' proposal, describing it as 'too complicated'.
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| Sean Spicer | White House Press Secretary |
Quoted referencing tax reform plans and taxing imports.
|
Organizations (12)
| Name | Type | Context |
|---|---|---|
| Bank of America Merrill Lynch |
Publisher of the Equity Strategy Focus Point report.
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|
| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT_023080'.
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| Crane Data |
Provided data on offshore money fund holdings.
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| S&P 500 |
Referenced for geographic revenue exposure.
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| Apple (AAPL) |
Listed in footnote for investment allocation data.
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| Microsoft (MSFT) |
Listed in footnote for investment allocation data.
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| Cisco (CSCO) |
Listed in footnote for investment allocation data.
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| Oracle (ORCL) |
Listed in footnote for investment allocation data.
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| Google (GOOG) |
Listed in footnote for investment allocation data.
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| Merck (MRK) |
Listed in footnote for investment allocation data.
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| Intel (INTC) |
Listed in footnote for investment allocation data.
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| Pfizer (PFE) |
Listed in footnote for investment allocation data.
|
Timeline (2 events)
2017-01-29
Locations (5)
| Location | Context |
|---|---|
|
Region where a large proportion of offshore cash may be held.
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|
Mentioned as 'emerging Asia' regarding revenue exposure.
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Country of financial institutions issuing commercial paper.
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Country of financial institutions issuing commercial paper.
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Country of financial institutions issuing commercial paper.
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Relationships (1)
Document quotes Spicer clarifying/commenting on Trump's administration tax policy.
Key Quotes (3)
"Repatriation should spur USD-buying – up to 40% may be non-USD denominated"Source
HOUSE_OVERSIGHT_023080.jpg
Quote #1
"While Trump has described the proposal as being 'too complicated,' it is a key component of the Blueprint plan and should not be ignored."Source
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Quote #2
"Sean Spicer’s recent reference to '...the plan taking shape right now, using comprehensive tax reform as a means to tax imports from countries...'"Source
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Quote #3
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