President Donald Trump endorsed Eli Lilly (NYSE: LLY) and Nokia (NYSE: NOK) during his speech at the Mack Trucks plant in Lehigh Valley, Pennsylvania, on Tuesday, June 23, 2026.
During his speech, the president emphasized the two companies’ future role in shaping the local economy in Pennsylvania, promising their multi-billion-dollar investments would create thousands of jobs.
Specifically, he mentioned that Eli Lilly was investing $3.5 billion in a new facility, the single largest economic development project in the region’s history, announced back in January.
“Right here in Lehigh Valley, Eli Lilly has just announced – great company by the way, drug company – a $3.5 billion investment in a brand new, state-of-the-art manufacturing facility right down the road that’s gonna create over 1,000 jobs, just that one,” Trump said.
Trump continues to endorse Nokia
As for Nokia, Trump’s comments referenced the Finnish company’s upcoming semiconductor facility in Allentown, announced earlier this month, and expected to increase the region’s capacity by up to ten times.
“Nokia is investing $30 million to expand its semiconductor testing and packaging operations – thousands of jobs,” he added.
This was not the first time that the POTUS praised Nokia. Several years ago, he similarly lauded the European company for ‘developing its cutting-edge products right here in the United States,’ and it remains among the top Trump stocks.
International Business Machines (NYSE: IBM) received a similar endorsement a day prior, on Monday, June 22, when the president said he regretted selling the stock before entering office, as it is now well-positioned to boost the country’s quantum computing capabilities.
Despite the endorsements, however, both Nokia and Eli Lilly saw no notable share price rallies. Indeed, as of the time of writing, the drug maker is trading virtually unchanged on the weekly chart, while the telecommunications firm is down 3.6% over the same period.
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