Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. TRUMP LAWYER CONTROVERSY: On Wednesday, AT&T (T) acknowledged it hired Essential Consultants, a firm linked to Donald Trump’s lawyer Michael Cohen, for advice on working with the Trump administration. AT&T’s response came after Michael Avenatti, a lawyer for Stormy Daniels, reported that the telecom company paid $200,000 to the consulting firm. The company said it wanted insights to understanding the new administration that would consider its $85B takeover proposal for Time Warner (TWX) and was not aware of any controversy until 2018. Subsequently, Reuters reported that AT&T CEO Randall Stephenson said in an internal memo that hiring Donald Trump’s personal attorney was a “big mistake.” “To be clear, everything we did was done according to the law and entirely legitimate,” Stephenson added, according to Reuters. The memo also noted that AT&T’s head lobbyist, Bob Quinn, who oversaw the hiring of Cohen, is retiring. Also earlier this week, Novartis (NVS) said it paid Cohen’s Essential Consultants $100,000 a month for a period of a year. Novartis held its first meeting with Cohen in March 2017 and determined that the firm would “be unable to provide the services that Novartis had anticipated related to US health-care policy matters.” As such, Novartis decided “not to engage further,” but continued to make payments until the contract expired in February 2018 because it could not be terminated for cause. Novartis thought Cohen could advise the company as to how Trump’s administration might approach health-care policies, including the Affordable Care Act. 2. IRAN DEAL: President Trump has announced the withdrawal of the U.S. from the Iran nuclear deal and said that “powerful” sanctions will be placed on Iran. Commenting on the news, Bernstein analyst Douglas Harned told investors he sees only minimal impact to commercial aerospace as neither Airbus (EADSY) nor Boeing (BA) will change production rates on this change, and the total number of orders affected represents just 2% of the companies’ combined order backlogs. For defense contractors with significant Middle Eastern exposure, heightened regional tensions could drive increased demand for missile defense in particular, but potentially also aircraft, ships, missiles, and vehicles, he contended. Harned believes Raytheon (RTN) is well positioned, having the highest exposure to missile defense and tactical missile sales to the Middle East, with Lockheed Martin (LMT) also a strong player. 3. AI MEETING AT THE WHITE HOUSE: According to a report by Bloomberg on Tuesday, officials from tech companies such as Alphabet’s (GOOG) Google, Amazon (AMZN), and Facebook (FB) are among companies were to attend a meeting at the White House on artificial intelligence. The White House invited over 100 business leaders, senior government officials, and experts for an AI summit to discuss issues pertaining to development, regulatory barriers, and specific applications of AI, the report said, citing a White House official. Other companies sending officials to the summit include Microsoft (MSFT), Nvidia (NVDA), MasterCard (MA), and Pfizer (PFE), the report said, citing a person familiar with the meeting. Intel (INTC) CEO Brian Krzanich will also be present at the meeting, the report noted. 4. LOCKHEED MARTIN: The U.S. Department of Defense has resumed accepting F-35 jet deliveries from Lockheed Martin after reaching an agreement on who would cover the costs to fix a production error, according to Reuters, citing a Pentagon official. The terms of the agreement were not disclosed, the publication added. “Week in Review” is The Fly’s weekly recap of its recurring series of “Trump Effect” exclusive stories.