Oil drillers. Gas pipelines. Coal. Banks. Pharmaceuticals. Construction, industrial equipment. The defense industry.

Those are the likely winners of a Trump administration that could take the lid off coal and fracking regulations, begin a massive repair of roads and bridges, rebuild defense, repeal the Dodd-Frank financial reform act and kill Obamacare.

One big loser? Foreign trade could suffer if the president-elect follows through on his plan to renegotiate trade agreements.

“Without a doubt, the obvious beneficiaries are defense, transportation and energy,” said Tim Loughran, a professor of finance at Notre Dame. “If there were more coal companies still on the market, they would be really hot right now. The transportation sector has been hit with excessive regulation. Trump should be able to fix that, too.”

Independent oil companies could do well if they are allowed to drill on federal lands. The big integrated petro producers such as Exxon, Chevron and Shell may not perform as well financially because massive oil production will keep prices low.

John Engler, former Republican governor of Michigan and president of the Business Roundtable, an association of chief executives from major U.S. corporations, said Trump is likely to unleash initiatives that include building projects such as the Keystone pipeline and another pipeline in North Dakota.

President Obama delayed for years making a decision on Keystone, only to kill the controversial pipeline a year ago. The North Dakota pipeline being built by Energy Transfer Partners to transport oil 1,200 miles east, from North Dakota’s Bakken field to a refinery in central Illinois, has been the subject of protests by Native Americans who say its construction would disturb sacred lands.

From the environment to finance to health, “the regulatory gusher that has been flowing out of Washington has been hitting every business in every sector,” Engler said. “I expect there will be almost immediate regulatory relief for beleaguered American business both small and large.”

Engler said a reform of business taxes could produce job growth by allowing U.S. corporations to repatriate.

“I felt and the CEOs feel that fixing our broken tax system is one of the things to really help job growth,” Engler said.

On the negative side, health info-tech companies that had ramped up under Obamacare were likely to take a hit. Foreign manufacturing, especially in Mexico, could feel negative effects. Japanese automakers who build in Mexico and export into the U.S. saw their stock prices drop Wednesday. Ford, which Trump singled out for criticism for taking jobs to Mexico, was down as well.

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