One drama ends and another begins. Now that companies have all that money coming from Donald Trump's tax overhaul, what are they going to do with it?

It's potentially a divisive issue. With corporate rates falling to 21 percent, from 35 percent, opponents predict executives will use the windfall to shower money on shareholders through buybacks. Trump's vision of freed up cash coursing through the economy as new investment will prove a costly delusion, they say.

One constituency that doesn't subscribe to this view is equity analysts, at least according to their work on individual companies. A top-down analysis of thousands of companies shows that Wall Street firms expect managers will use the money to show plants and equipment some love in the form of capital investment.