Boeing (BA) announced Wednesday that it would pause political donations to both parties in the wake of the Capitol riots last week. But some big stocks are only stopping political donations to GOP members who voted against certifying the Electoral College results.
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The aerospace giant’s announcement came just before the House of Representatives voted 232-197 to impeach President Trump, with 10 House Republicans joining Democrats.
“Given the current environment, we are not making political contributions at this time,” Boeing said in a statement. “We will continue to carefully evaluate future contributions to ensure that we support those who not only support our company, but also uphold our country’s most fundamental principles.”
Northrop Grumman said Monday it would stop donations to both parties, becoming the first defense contractor to make an announcement.
On Tuesday, Leidos (LDOS) and Raytheon Technologies (RTX) followed Northrop’s lead and announced they too would pause all donations.
Defense giants Lockheed Martin (LMT), General Dynamics (GD) and L3Harris Technologies (LHX) have yet to make an announcement.
Big banks JPMorgan (JPM) and Citibank (C), as well as tech giants Facebook (FB), Google parent Alphabet (GOOGL) and Microsoft (MSFT), also announced they would stop all political donations.
Boeing shares fell 0.6% to close at 207.21 on the stock market today. Northrop closed up 0.7%, Facebook edged up 0.2% and Microsoft ended the trading day up 0.1%.
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But other big stocks are being more selective about which members of Congress would still get their political donations.
Amazon (AMZN), Walmart (WMT), Disney (DIS), Best Buy (BBY), Marriott (MAR), Airbnb (ABNB), Nike (NKE) and Morgan Stanley (MS) announced they would only pause donations to the 147 politicians that voted against certifying the 2020 presidential election results.
Democrats as well as legal and political analysts have said Republicans who refused to certify the results fanned dangerous conspiracy theories that fueled the Capitol riots.
It was unclear in some cases how long the pause in donations would last.
Chemical company Dow (DOW) said on Monday that it would suspend for one election cycle all political contributions to members of Congress who voted against the certification of the presidential election.
Walmart shares closed down 1%. Disney closed up 0.1%, Nike fell 1.4% and Amazon closed down just 0.1%.
Follow Gillian Rich on Twitter for investing news and more.
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