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Walt Disney’s Proxy Tug of War Pulls Shares to 52-Week Highs 2024-04-01 13:02:00+00:00 - Key Points Walt Disney is facing a proxy war as billionaire Nelson Peltz aims for Disney Board of Directors seats to be voted on April 3, 2024, at the shareholder meeting. Peltz claims the Board of Directors has been unengaged, unfocused and lacking accountability in his 133-page white paper, which includes CEO succession of Bob Iger, for a turnaround of the company with shareholders in mind. Disney stated their direct-to-consumer (DTC) segment, which includes Disney+, will be profitable by Q4 2024. 5 stocks we like better than Walt Disney The Walt Disney Co. NYSE: DIS shares have been surging to 52-week highs, but not necessarily due to material improvements in operations. There is a proxy war being undertaken between billionaire activist investor Nelson Peltz of the Trian Fund and the Walt Disney CEO Bob Iger. The battle boils down to control of the Board of Directors as shareholders vote at the investor meeting on April 3, 2024. Get Walt Disney alerts: Sign Up How Did The Proxy War Emerge? Nelson Peltz’s Trian Group owns over $3.5 billion of Disney stock. Peltz has spoken out against the Board of Directors whom he says is responsible for the woeful underperformance of the stock and operations. Peltz is fighting for two board seats. Peltz argues the board is not truly engaged and needs to take accountability. Trian started #RestoreTheMagic, stating, "…the root cause of underperformance is the Board's lack of focus, alignment and accountability." The White Paper Against Disney Peltz has noted the change in culture at the company and his distaste for the direction of the company, which has been anchored in "woke" culture that has replaced many of its iconic characters, leading to box office disasters like The Marvels and Haunted Mansion. In a nutshell, Peltz feels Disney has lost its way and traditional values, pandering to a message of diversity and inclusion. On March 4, 2024, Trian released a 133-page white paper, “White Paper: Trian’s Case for Change at Disney”, detailing Peltz's plan to turn around the company, which includes performance-based compensation with shareholder value, reaching 15% to 20% margin and replacing its CEO. Trian Group Nominates 2 Board Members In a letter to shareholders, Trian Group put out a statement, “To help ensure a better future for this great company, we believe Disney needs new independent directors who have a shareholder mindset, deep and relevant experience and a sense of urgency. We have nominated two such candidates, Nelson Peltz and Jay Rasulo, who have invested their own money in Disney stock and are dedicated to helping Disney." A History of Board Participation Nelson Peltz has had a history of taking control of Board Seats influencing companies mostly for the better for shareholders and customers. He is the Chairman of the Board for The Wendy’s Co. NASDAQ: WEN. He succeeded in taking a seat at The Proctor & Gamble Co. NYSE: PG and Kraft Heinz NASDAQ: HNZ and turning the stock around. Peltz has board positions in up to 20 other companies, schools, civic organizations and museums. Peltz has commented that the battle is not about Bob Iger but board oversight. Check out the sector heatmap on MarketBeat. A Turnaround in the Works? The day after Trian's White Paper was released, Disney stated it would exceed guidance expectations at a conference on March 5, 2024. Disney claimed it will exceed 2024 cash flow guidance. ESPN grew in terms of ROI and rating in 2022, 2023 and Q1 2024. It expects its direct-to-consumer (DTC) segment, which includes Disney+, to be profitable by Q4 2024. This left investors questioning the timing and whether Disney was bluffing in reaction to Trian's White Paper. The Alliances Chime In A number of large shareholders have chimed in on the proxy war. Vocal shareholders backing Bob Iger include Jamie Dimon, George Lucas, Blackwells Capital Abigail Disney, Roy Disney and 6 other family members. ISS Shareholders, Egan-Jones and the CalPERS pension fund are backing Peltz. Disney shares climbed 5% in the week preceding the shareholder meeting. The question is whether it's driven higher because of Peltz's proxy war or defense against it. After the shareholder vote on April 3, 2024, Disney shares will reveal which was responsible. Analysts Chime In Several analysts upgraded shares of Disney ahead of the investor meeting. UBS reiterated its Buy rating and raised its price target on DIS to $140 on March 27, 2024. Analyst John Hodulik noted they remain bullish on shares driven by multiple potential upsides that can drive earnings higher yield at 25% for a 3-year CAGR. This will be driven by its Parks business, with help from Content and DTC segments. He commented, “We expect FCF of $9B in F24E (vs. guidance for ~$8B), rising to $14B in F26E, supporting ramping buybacks, dividend growth and incremental investments. Parks continue to outperform expectations while new spending will boost capacity." Disney analyst ratings and price targets are at MarketBeat. Disney peers and competitor stocks can be found with the MarketBeat stock screener. Daily Bull Flag Breakout The daily candlestick chart for DIS illustrates an ascending triangle breakout pattern to 52-week highs. The bullish move is driven by analyst upgrades and the proxy war, which will conclude the April 3, 2024, shareholders meeting vote. The daily relative strength index (RSI) is in deep overbought territory at the 80-band. Shares could trigger a sell-the-news reaction after the proxy vote. Pullback support levels are at $114.13, $106.80, $99.28 and $94.83. Before you consider Walt Disney, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Walt Disney wasn't on the list. While Walt Disney currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Sports Illustrated’s Owner Sues Energy Drink Mogul After Chaos at Magazine 2024-04-01 12:46:08+00:00 - Sports Illustrated’s owner on Monday sued Manoj Bhargava, the energy drinks mogul whose foray into media has been rife with chaos and conflict, accusing him of failing to pay millions of dollars for the rights to publish the iconic magazine. The 51-page lawsuit, filed in U.S. District Court for the Southern District of New York, says that Mr. Bhargava and Arena Group, the publisher he controls, owe $48.75 million in missed payments, as well as damages for infringing on Sports Illustrated’s copyrights and trademarks. The lawsuit represents the latest public skirmish between Authentic Brands Group, which owns Sports Illustrated, and Mr. Bhargava, the 5-Hour Energy drink founder, whose effort to take control of Sports Illustrated’s parent company has resulted in a series of lawsuits and turmoil at the sports publication. Sports Illustrated is being operated by Minute Media, a New York-based sports-media company that wrested the title away from Arena Group last month by striking a new deal with the magazine’s owner. After Arena Group laid off scores of employees in January and threatened to discontinue Sports Illustrated’s print edition, Minute Media pledged to hire some of them back and keep the magazine alive.

Rise in UK minimum wage leaves millions short of real living wage 2024-04-01 12:29:00+00:00 - Millions of UK workers will still be left more than £1,000 a year short of a real living wage, despite the biggest cash boost in the minimum wage set by the government for more than a decade. The “national living wage” (NLW) is increasing from Monday from £10.42 to £11.44 an hour, and is being expanded to cover younger workers with a cut in the age threshold from 23 to 21. The increase is worth £1,800 a year for a full-time adult worker. However, workers on the legal pay floor will still be left £1,092 a year short of the voluntary “real living wage” set by the Living Wage Foundation charity, which is paid by thousands of employers to reflect household costs. Almost half a million workers in the UK whose employers are signed up to real living wage are receiving an increase in pay to £12 an hour across the UK and £13.15 in London. The difference could pay for 18 weeks of food for a household, or 12 weeks of housing and energy costs. The charity said workers in the capital would need more than £3,000 extra to bring earnings into line with the London living wage. The difference could pay for almost a year’s worth of food, or 23 weeks of housing and energy costs. Increases in the government-enforced minimum wage have driven up the pay of millions of Britain’s lowest earners by £6,000 a year since its introduction under Tony Blair’s Labour government in 1999, making it the single most successful economic policy in a generation according to the Resolution Foundation. The government last week said it would pause efforts to drive up the minimum wage further amid business concerns over rising costs, after several years of above-inflation increases to hit a target of two-thirds of median earnings by 2024. Ministers on Wednesday published a new remit for the Low Pay Commission, which advises on where to set the legal pay floor, asking it to maintain the current target for workers aged 21 and over next year. On current forecasts, the LPC said this would mean increasing the national living wage by 3.9% to £11.89 in April 2025. Paul Nowak, the general secretary of the TUC, said unions were “deeply disappointed” by the decision. “Millions of low-paid workers live wage packet to wage packet – and are currently being hammered by the cost-of-living crisis.” He said a higher target of 75% of median pay should be set. “This would help deliver a £15 an hour minimum wage and make work pay for millions.” Labour has said the minimum wage should “cover the cost of living,” but hasn’t spelled out what this means in practice. The Resolution Foundation said this “surely means taking the minimum wage higher, given it lies below the real living wage.” The NLW was introduced in 2016, when the then chancellor, George Osborne, rebranded the minimum wage as a “living wage”. However, the rate is lower than the voluntary “real living wage,” which is paid by more than 14,000 employers across the UK including half of the FTSE 100 and big household names including Nationwide, Google, Lush and the Premier League football clubs Everton and Chelsea. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion The pay rate is calculated using a basket of goods, taking into consideration everyday costs such as a weekly shop, household bills, a surprise trip to the dentist, and extras for a decent life such as a birthday present for a child. Katherine Chapman, the director of the Living Wage Foundation, said: “The rise in the statutory national living wage from 1 April is welcome news for the 3.7 million low-paid workers across the country, but this still falls short of a wage which takes into account the real cost of living.” A government spokesperson said the increase in the NLW and reduction in age threshold was a “historic moment which will put more money in the pockets of millions of workers”. “It strikes the best possible balance between the needs of workers and affordability for business while delivering on our commitment for the National Living Wage to reach two-thirds of median earnings by 2024,” they added.

Emma Thompson and Greta Thunberg among critics of Shell’s Greenpeace case 2024-04-01 11:21:00+00:00 - More than 30 public figures including Emma Thompson, Imelda Staunton and Greta Thunberg have written to Shell criticising its “callous and vindictive” lawsuit against Greenpeace after activists occupied a moving oil platform last year. In one of the biggest legal threats in the environmental charity’s 50-year history, Shell is suing it for $1m (£790,000) in damages, with costs that could run into the millions. The move follows a protest in January last year in which four Greenpeace activists boarded a platform north of the Canary Islands that was being transported to the Shetland Islands, holding signs stating: “Stop drilling – start paying.” Monday’s letter , signed by dozens of prominent musicians, activists, and lawyers as well as more than 100,000 members of the public, calls on Shell to respect the right to protest. “The Greenpeace activists were demanding that Shell stop drilling for new oil and gas and use its vast resources to support communities least able to respond to the impacts of climate change,” it states. “These are entirely legitimate demands and your transparent attempt to intimidate them is outrageous and frankly dangerous.” The letter adds: “We call on you to respect people’s right to protest against climate change; cease the development of new oil and gas; and use your immense wealth to help those countries and communities most impacted by the climate crisis that you have played no small part in creating.” In response, a Shell spokesperson added: “The right to protest is fundamental and Shell respects it absolutely. But it must be done safely and lawfully. Boarding a 72,000 metric ton moving vessel at sea was unlawful and extremely dangerous. A judge said Greenpeace protesters were “putting their lives and, indirectly, the lives of the crew at risk”. “In filing a claim in February 2023, we sought to prevent an escalation of protests on the vessel, which was already a danger to the lives of the protesters and crew. The majority of costs claimed were incurred by contractors and sub-contractors working for Shell, who put in place appropriate safety measures to protect all people involved, including the protesters.” The letter, which was sent on Friday to the Shell CEO, Wael Sawan, is also supported by civil society groups including Amnesty International and Friends of the Earth. The writer and chef Hugh Fearnley-Whittingstall, one of the signatories, said the lawsuit “beggars belief”. “Shell boasts constantly of its green credentials, while using its vast wealth to harass climate activists who peacefully call out its climate-wrecking business practices.” Philip Evans, a campaigner at Greenpeace UK, said: “We’re living in a world turned upside down. The UK government should be leading the way towards a future without the fossil fuels it knows are driving a cost of living crisis at home and climate chaos around the world. But instead, oil giants like Shell are handed new exploration and drilling licences that will exacerbate both crises, while they throw lawsuits against climate groups who dare to challenge them.”

Is Rumble Revving Up for Growth or Just Sputtering? 2024-04-01 10:20:00+00:00 - Key Points Rumble is an alternate video-sharing platform that underscores freedom of speech, attracting right-wing and conservative content creators and viewers. Rumble reported Q4 2023 rising daily active users (DAUs) but averaging viewing minutes declined per month, while content uploads grew 20%. Rumble's CEO stated that monetization growth drivers are in place to see sequential revenues accelerate starting in Q2 2024. 5 stocks we like better than Rumble Video-sharing platform Rumble Inc. NASDAQ: RUM released its Q4 2023 earnings report with less-than-stellar results. The highlights included rising daily active users and an 8-cent EPS beat, with losses coming in at 14 cents versus 22 cents. However, the good news was offset by a shrinking number of average minutes watched per active user and a big revenue miss. Shares in the consumer discretionary sector company initially sold off on the news but managed to recover. The Rumble CEO stated that revenues are going to accelerate on a sequential basis due to the various monetization efforts triggered in the quarter. Get Rumble alerts: Sign Up A Free Speech Alternative to YouTube? Rumble considers itself the alternative to Alphabet Inc. NASDAQ: GOOG owned YouTube, Vimeo Inc. NASDAQ: VMEO and other popular video-sharing platforms. The ideology of free speech with no censorship has drawn both right-leaning conservatives and criticism. Its stock price has also been coupled with former President Donald Trump's news events and his media company, Trump Media & Technology Group Co. NASDAQ: DJT price action. Rumble was the exclusive live stream platform for the fourth Republican presidential primary debate. Q4 2023 Earnings Whimper Rumble reported Q4 2023 EPS of a loss of 14 cents versus a loss of 22 cents, an 8-cent beat. Revenues rose 2.2% YoY to $20.39 million, falling short of the $28.13 million consensus estimates. Monthly active users (MAUs) rose 16% sequentially to 67 million, with 48 million in the United States and Canada. The average estimated minutes watched per month (MWPM) was 10.5 billion, down from 10.7 billion in the year-ago period. This figure was derived from bandwidth consumption metrics. Hours of uploaded video per day rose 21% to 12,520, up from 10,373 in the year-ago period. The company closed the quarter with $219.5 million in cash and cash equivalents. Revenues Engines Are Positioned to Rev Up in Q2 2024 The company stated that beginning in Q2 2024, it expects revenues to increase sequentially from its revenue engines coming online. Its previous guaranteed creator commitments, where they contracted popular content creators for content generation, are set to shrink significantly by the end of 2024 and into 2025. CEO Insights Rumble CEO Chris Pavlovski reiterated that 2023 was the building year for the company. This includes successfully diversifying its content library and signing key content providers across comedy, entertainment and sports. The company launched a redesigned user interface across all platforms. Rumble integrated a premium subscription service, locals.com, providing content creators with more robust monetization opportunities. 2023 was a Year of Milestones Rumble launched the beta version of Rumble Studio, which includes its patent-pending live streaming tool, which will lay the future foundation for monetization. The Rumble Advertising Center (RAC) was launched within the last 90 days. It's been deploying pre-roll video ads on its mobile apps. The company is onboarding new publishers and expanding its inventory. The company also launched Rumble Cloud just two weeks ago. The revamped user interface and integration of a video platform, an advertising network, a novel livestreaming tool and a cloud in a single year. Rumble Studio enables content creators to live stream video to multiple platforms like YouTube, Amazon.com Inc. NASDAQ: AMZN, owned Twitch, Kick, X and Meta Platforms Inc. NASDAQ: META, and Facebook and invite guests to engage with viewers. A Mini Google Created by Less than 250 People Pavlovski compared 2023 milestones paralleling that of Google as the company built its 4 key products and monetization drivers. Pavlovski commented, "What we have built is essentially a mini Google." He continued, "Google purchased DoubleClick for $3 billion, this compares to the Rumble Advertising Center. Google purchased YouTube for $1.65 billion back in 2006, which compares to the Rumble Video platform. Google has also invested billions into Google Cloud, which compares to our Rumble Cloud. And by the way, we did all of this with fewer than 250 people." Rumble analyst ratings and price targets are at MarketBeat. Rumble peers and competitor stocks can be found with the MarketBeat stock screener. RUM has a 15% short interest. Daily Ascending Triangle Pattern The daily candlestick chart for RUM illustrates a daily ascending triangle pattern. The ascending trendline formed at $6.22 on February 28, 2024. The lower trendline formed as higher highs on pullbacks met the flat-top upper trendline resistance at $8.94. The daily relative strength index (RSI) pulled back to the 57 band but may be winding up for another bounce attempt to rechallenge the flat-top upper trendline as RUM moves closer to the apex point where the upper and lower trendline meet. Pullback support levels are at $7.40, $6.76, $6.22 and $5.82. Before you consider Rumble, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rumble wasn't on the list. While Rumble currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

1 Unstoppable Stock That Turned $1,000 Into $32 Million. Should You Buy It Right Now? 2024-04-01 03:35:00+00:00 - Investing in the stock market works best when people adopt a truly long-term mindset. With a time horizon measured in decades, as opposed to days or months, investors can take advantage of the magic of compounding. Historically, the S&P 500 has produced an average annual return of about 10%, including dividends. But there are some businesses that have absolutely crushed that gain. In fact, $1,000 invested in one top retail stock at its initial public offering (IPO) in September 1981 would be worth nearly $32 million today. Let's learn more about this company's rise, as well as if the shares make for a smart purchase today. Boring business; exciting returns Investors might be surprised to know that the stock that has produced such a fantastic return is none other than Home Depot (NYSE: HD). The company sells home improvement products to both do-it-yourselfers and professional customers via its network of stores. It is the leader in its industry, well ahead of smaller rival Lowe's. Key to the stock's impressive performance has been an expanding store footprint. Today, the chain has 2,335 stores, the vast majority of which are in the U.S. The company says 90% of the American population lives within 10 miles of a Home Depot. Thirty years ago, there were only 264 stores. Seeing the potential to rapidly expand and replicate the business model, it's no wonder leadership was aggressively investing in growth. Consistent revenue and earnings gains were what helped propel the stock. HD Revenue (TTM) Chart HD Revenue (TTM) data by YCharts At its current scale, the retailer is incredibly profitable. It generated $15 billion of net income and $21 billion of operating cash flow in fiscal 2023, which ended in January 2024, astronomically higher figures than during the IPO. And the executive team has shown that it prioritizes returning capital to shareholders. In the past 24 months, Home Depot paid $16 billion in dividends and the stock currently yields about 2%. It has paid a dividend in 148 straight quarters, helping boost shareholder returns and propel that $1,000 to millions. Story continues Is Home Depot stock a buy now? In more recent times, owning shares of Home Depot hasn't been as exciting. But the stock has still rewarded investors. It has more than doubled in the last five years and has climbed nearly fivefold in the past decade (as of March 26). These gains exceed the S&P 500. Nonetheless, it's prudent not to expect the stock's future to resemble the past. The company carries a massive market cap of $379 billion, and it generated $153 billion of sales in fiscal 2023. Growth has tapered off and will continue to do so. The business is dealing with a slowdown following a surge in demand for renovation projects during the early, stay-at-home days of the pandemic. Revenue declined 3% last fiscal year, with management expecting a 1% rise in the current fiscal year. Investors might hesitate to pay a price-to-earnings ratio of 25 for a business that isn't growing right now. But I still think now is a smart buying opportunity for long-term investors. Home Depot dominates its industry, possesses a strong brand, and has the resources to develop its supply chain and omnichannel capabilities. The result is that the business will continue to be second to none when it comes to serving its customers. This should help it continue to take market share in the $950 billion home improvement industry, and once economic headwinds subside, Home Depot should get back to registering its typical growth. Investors are likely to be rewarded. Should you invest $1,000 in Home Depot right now? Before you buy stock in Home Depot, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Home Depot wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of March 25, 2024 Neil Patel and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Home Depot. The Motley Fool recommends Lowe's Companies. The Motley Fool has a disclosure policy. 1 Unstoppable Stock That Turned $1,000 Into $32 Million. Should You Buy It Right Now? was originally published by The Motley Fool

Bull Market Buys: 2 Dividend Stocks to Own for the Long Run 2024-04-01 03:03:00+00:00 - If you are a dividend investor like me, you prize consistency in all market environments, bull or bear. A high yield backed by a dividend that gets cut is likely to lead to less income and a loss of capital. No thanks! This is why one of the first screens I use when looking for a stock is a company's history of increasing its dividend. Then, I look at the businesses behind the dividend. Enbridge (NYSE: ENB) and NextEra Energy (NYSE: NEE) both come out looking like stocks that dividend investors would want to own for the long run. Enbridge is a slow and steady tortoise Canadian Enbridge is lumped together with the midstream energy sector. That's an appropriate place for it, given that around 57% of the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) comes from oil pipelines and another 28% from natural gas pipelines. It is, in fact, one of the largest midstream companies in North America, with a portfolio of energy infrastructure that would be difficult, if not impossible, to replace or replicate. The pipelines and other midstream assets it owns are largely fee-driven, which results in fairly consistent cash flow regardless of what is going on with energy prices. But do the quick math -- this side of the company makes up 85% of EBITDA. The rest comes from a regulated natural gas utility (12% of EBITDA) and renewable power assets (the remainder). Regulated utilities are super boring and reliable cash flow generators, and the renewable power assets Enbridge owns are under long-term contracts. There's plenty of cash flow coming in to cover the historically high 7.5% dividend yield, noting that the distributable cash flow payout ratio is comfortably in the middle of the company's target 60% to 70% range. The dividend, meanwhile, has been increased annually for 29 consecutive years. There's no indication that the dividend streak is anywhere near ending. That said, Enbridge is about to get even more boring and reliable with the planned purchase of three additional regulated natural gas utilities in 2024. That will shift the business mix to 50% oil pipes, 25% gas pipes, 22% gas utilities, and 3% clean energy. Being a conservative and steady dividend payer is clearly a high priority for management. While the high yield is likely to make up the lion's share of your total return here, that should be a net positive for investors seeking to maximize the income they generate from their portfolios. Story continues NEE Dividend Yield Chart NextEra is a great option for dividend growth investors Not everyone is looking for stocks that have high yields; some prefer to own companies that reward income investors with rapid dividend growth. That is exactly what you'll get with NextEra Energy, one of the largest utilities in the United States. A high-dividend-growth utility may sound too good to be true, but NextEra Energy's dividend has been increased at a 10% annualized clip over the past decade. That's pretty good for any company, but extra impressive for a utility. In fact, half that dividend growth rate would be strong for a utility! Better yet, NextEra Energy's management team is projecting dividend growth to be around 10% per year all the way out to 2026. So there are more sizable dividend hikes to come, backed by earnings growth of between 6% and 8% a year. For reference, the dividend has been increased each year for 29 consecutive years, and the dividend yield is a historically high 3.3% or so right now. While a 3.3% yield won't excite income-focused investors, combined with the robust dividend growth rate, NextEra Energy should be quite alluring to dividend growth and growth and income investors. The key to the growth story here is that NextEra Energy actually mixes a slow and steady regulated utility operation with a fast growing renewable power business. Since the clean energy transition that's taking shape will be a decades-long affair, there's no reason to believe that NextEra Energy's growth runway will come to a sudden halt anytime soon. You pick: High yield or high growth Enbridge and NextEra Energy will probably appeal to different types of investors. But they share some very important traits. Both have impressive dividend histories, strong and reliable businesses, and historically high yields. They are the types of dividend stocks that you buy and hold for the long run, particularly if you acquire them while they appear to be on sale. Should you invest $1,000 in Enbridge right now? Before you buy stock in Enbridge, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Enbridge wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of March 25, 2024 Reuben Gregg Brewer has positions in Enbridge. The Motley Fool has positions in and recommends Enbridge and NextEra Energy. The Motley Fool has a disclosure policy. Bull Market Buys: 2 Dividend Stocks to Own for the Long Run was originally published by The Motley Fool

Retail traders are piling into riskier, high-leverage bets as stocks break records 2024-04-01 01:19:00+00:00 - Retail investors are piling into riskier, leveraged funds over recent weeks, Vanda Research said. AP Photo/Richard Drew Investors have been piling into riskier, leveraged stock-market bets in recent weeks, Vanda Research said. Those increased inflows come as the stock market has made new records. Strategists said investors may be trying to make their capital work harder via leverage. The stock market has soared to records in the first three months of the year, and retail traders have been increasingly leaning into that momentum with riskier bets. According to Vanda Research, individual investors' use of leverage has steadily ramped up over recent weeks. As the chart below illustrates, retail investors have dialed back purchases of broader market ETFs like SPY and QQQ — which track the S&P 500 and Nasdaq — while increasing exposure to triple-leveraged funds right as stocks are hitting all-time highs. Retail net purchases show increasing inflows to leveraged funds. Vanda Research The trend comes as major averages have enjoyed strong first-quarter gains, with the Dow Jones Industrial Average, up 4.91% year-to-date and the S&P 500, and the Nasdaq Composite up 10.1% and 10.59%. Risk-on bets across markets including crypto and meme stocks are on the rise again, this time bucking the trend of high interest rates that took the air out of those trades two years ago when the Federal Reserve started tightening monetary policy. "If we then expand the levered ETF pool to a few more heavily-traded funds, we see that retail inflows (adjusted for leverage) have now easily cleared highs seen during the last AI-fuelled rally in May-July '23," Vanda strategists wrote this week. The chart below depicts how retail net purchases of levered ETFs have ramped up in February and March 2024. The data is based on the largest 22 levered ETFs in the US, as of March 26. Retail net purchases of levered equity ETFs Vanda Research Another potential driver, meanwhile, is that after about two years, the average retail portfolio is finally out of the red following the brutal bear market of 2022. Now that the focus is on driving gains rather than recouping losses, traders may feel more confident taking on higher risk, Vanda said. The analysts went on to note that they expect retail investors to lean into contrarian bets, buying dips or selling into rallies. They also say that retail is diversifying away from the top gainers like the Magnificent Seven and into other stocks, with data suggesting the cohort is looking to get in early on any increased breadth in stock-market gains. Read the original article on Business Insider

Do I Pay Taxes Automatically If I Inherit Property? 2024-04-01 00:49:00+00:00 - An inheritance is a windfall that can absolutely help someone's financial situation -- but it can make your taxes tricky. If you inherit property or assets, as opposed to cash, you generally don’t owe taxes until you sell those assets. These capital gains taxes are then calculated using what’s known as a stepped-up cost basis. This means that you pay taxes only on appreciation that occurs after you inherit the property. A financial advisor could help ensure that you are filing your returns correctly. Let's break down how capital gains are taxed on inherited property. If You Inherit Property You Don't Pay Taxes Automatically There are three main types of taxes that cover inheritances: Inheritance taxes - These are taxes that an heir pays on the value of an estate that they inherit. There are no federal inheritance taxes and only six states levy any form of inheritance tax. Given the state-specific nature of inheritance taxes, this subject is beyond the scope of this article. Estate taxes - These are taxes paid out of the estate itself before anyone inherits from it. The estate tax has a minimum threshold. In 2021 that threshold was $11.7 million. As with all other tax brackets the government only taxes the amount which exceeds this minimum threshold, meaning that if your estate is worth $11,700,001, the government will levy taxes on $1. The remainder passes tax free. Capital gains taxes - These are taxes paid on the appreciation of any assets that an heir inherits through an estate. They are only levied when you sell the assets for gain, not when you inherit. Cash that you inherit is taxed through either inheritance taxes (when applicable) or through estate taxes. In the case of inheritance taxes, it is your responsibility to file and pay this tax. In the case of an estate tax, the IRS taxes the estate directly. As a result it is uncommon for an heir to owe any taxes, including income tax, on inherited cash. Story continues The IRS does not automatically tax any other forms of property that you might inherit. This means that if you inherit property, stocks or any other form of asset, you generally will not owe taxes when you inherit. For example if you inherit your grandparents’ house, the IRS will not tax you on the value of the property when you receive it. (There are exceptions to this rule in certain specific circumstances. Most often these exceptions apply to assets that generate revenue, such as income investments, retirement accounts or ongoing businesses.) You will, however, owe capital gains taxes if you choose to sell this property. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now. Capital Gains Are Taxed on a Stepped-Up Basis When you inherit property, whether real estate, securities or almost anything else, the IRS applies what is known as a stepped-up basis to that asset. This means that for tax purposes the base price of the asset is reset to its value on the day that you inherited it. If you inherit property and then immediately sell it, you would owe no taxes on those assets. Capital gains taxes are paid when you sell an asset. They are levied only on the profits (if any) that you make from this sale. For example, say that you buy a stock for $10. Later on you sell that same stock for $50. You will owe capital gains taxes on the $40 that you made from this transaction. Two prices are involved in establishing a capital gain tax: The sale price (how much you sold the asset for) and the original cost basis (how much you bought it for). In our example the sale price of this stock is $50 and the original cost basis is $10. You are taxed on the difference which, again, brings us to $40 in taxable income. Now consider the scenario that your grandparents bought their house years ago for $100,000. Today it has increased in value and is worth $500,000. If they were to sell the house, they would pay capital gains taxes on $400,000: Sale price ($500,000) – Original cost basis ($100,000) = $400,000 Instead, however, they die and pass the house down to you. At the moment you inherit, the IRS will consider the house’s original cost basis stepped up to current market value. This means that if you sell it immediately, you will pay no capital gains taxes: Sale price ($500,000) - Stepped-up original cost basis ($500,000) = $0.00 taxable capital gains On the other hand say that you hold the house for a year, during which time the price of this house goes up by $100,000. If you sell it, you would owe capital gains taxes only on $100,000: Sale price ($600,000) – Stepped-up original cost basis ($500,000) = $100,000 taxable capital gains The stepped-up cost basis means that it is relatively rare for heirs to pay significant taxes on any amount of inheritance. The Bottom Line There are some ways to avoid paying capital gains tax on inherited property that are worth considering if you’re the beneficiary of an estate or trust. When you inherit property, the IRS applies what is known as a stepped-up cost basis. You do not automatically pay taxes on any property that you inherit. If you sell, you owe capital gains taxes only on any gains that the asset made since you inherited it. Tips on Taxes Capital gains can be one of the most complicated sections of the tax code. Fortunately a financial advisor can clarify how best to handle these situations. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors in your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor, get started now. Use a free federal income tax calculator to get a quick estimate of what you will owe "Uncle Sam." Don't miss out on news that could impact your finances. Get news and tips to make smarter financial decisions with SmartAsset's semi-weekly email. It's 100% free and you can unsubscribe at any time. Sign up today. Photo credit: ©iStock.com/designer491

Market strategist explains the 3 hallmarks of meme stocks 2024-04-01 00:30:00+00:00 - Meme stocks are making a resurgence as the broader stock market ends the first quarter on a strong note. Though the meme stock frenzy hasn't quite reached the same intensity as it did in 2021, when GameStop (GME) and AMC (AMC) stocks catapulted to new heights, the meme phenomenon has continued in a concentrated handful of standouts. In recent trading, for example, there’s been an uptick in interest in GameStop (GME) sparked in part by new additions to the market via IPO, such as Reddit (RDDT) and Trump Media & Technology Group Corp. (DJT). Reddit stock soared over 90% to more than $65 a share in its first three days of trading, well above its IPO price of $34 a share. Shares of the social network platform have continued to experience volatility, however, falling to around $49 as of Thursday's close. And after initially rising by as much as 50% on its first day of trading, Trump Media also saw a decrease in value later in the week, as the stock closed Thursday's session around $62 per share. "It's been momentum all along since November, but the leading momentum stocks have generally been stocks that have been delivering the goods," Interactive Brokers chief strategist Steve Sosnick said on Yahoo Finance Live (video above) about the broader market rally. "We're starting to see people chase stocks just simply because they're going up, not because of any fundamental reason. That, to me, indicates froth." Annex Wealth Management's Brian Jacobsen told Yahoo Finance Live that investor interest in meme stocks could be tied directly to FOMO mentality, or a fear of missing out. “They’re trying to find the next hot thing, and they’re just beginning to chase it and pile into it,” Jacobsen said. “That obviously can work well, but it can also then end in tears, especially if you don’t get into those names early enough.” 3 hallmarks of meme stocks But what is a meme stock, exactly? Sosnick explained that there are three main criteria for evaluating if a stock belongs to the category. Story continues The first indicator of a meme stock is a "quasi-religious fervor," according to Sosnick. "It's one thing to be enthusiastic about a stock, it's another thing to just be so hyped up about it," Sosnick said. "Think about how the real apes were in AMC, the real devotees in GameStop early on. Certainly, one can say that about the former president's base, who I think helped getting DJT's stock moving." The second criterion is a disregard for fundamentals. Traditionally, investors look for opportunities that offer a financial return over a long-term time horizon, especially one that can beat the market's performance over that same time period. On the other hand, many meme stock investors have a much shorter time horizon in mind as they look to quickly flip speculative assets if the price spikes to turn a hefty profit. "If you're believing in the faith of a stock, if you have a non-analytical view of the stock, well, then you could disregard the fundamentals," Sosnick added, noting that stocks trading on momentum can seem expensive "by any conventional metrics." The trading floor of the New York Stock Exchange (NYSE) prepares for Reddit's initial public offering on March 21, 2024, in New York City. (Spencer Platt/Getty Images) (Spencer Platt via Getty Images) Lastly, Sosnick said investors should watch for high short interest. Short interest refers to bets made by investors that a stock's price will fall rather than rise. In the case of DJT, the high short interest was precedented but still in a high range of 11%. The average short interest for public companies is typically between 3% and 4% but can reach as high as 40% when investors are more pessimistic. Essentially, according to Sosnick’s definition, meme stocks utilize an intense passion from retail investors who are willing to take on more risk and ignore some of the more conventional investing strategies for a chance at higher returns, especially in the short term. Public COO Stephen Sikes largely agreed, though he doesn’t think it’s quite that simple. Sikes claimed that meme stocks are attractive to a wide variety of investors with different goals and strategies, not just those looking to flip them for an immediate return. “We have some investors that are long-term buy-and-hold investors, and we have some that are traders trying to take advantage of volatility and momentum in the market,” Sikes said. “They see an opportunity here more so than sort of the quasi-religious fervor you might have seen in prior eras.” As for why meme stocks are back in the picture, Sikes told Yahoo Finance that a combination of investors’ familiarity with a company’s products or brand and increased market volatility is likely to blame. And when asked where investors may be able to find the next targets of “meme mania,” Jacobsen noted the market may shift toward the small-cap space and underperforming sectors such as industrials, manufacturing, and utilities. Click here for in-depth analysis of the latest stock market news and events moving stock prices. Read the latest financial and business news from Yahoo Finance

Stock market bubble warnings are everywhere. These are the 10 most richly valued stocks right now. 2024-04-01 00:08:00+00:00 - Johannes Eisele/AFP via Getty Images As the stock market hits record highs, some investors are concerned about a bubble. High valuations and an AI-hype cycle are the top concerns for bearish investors. From AI to chicken wings, listed below are the 10 most richly valued stocks in the market right now. Record highs in the stock market and growing hype around artificial intelligence are leading some investors to worry about a potential bubble. Valuations are stretched, crypto is booming, and to some investors, it feels like the more than 25% gain in the S&P 500 since late October is too far too fast. Economist David Rosenberg highlighted three glaring divergences in the stock market earlier this month that suggest a downturn is inevitable, and Warren Buffett's favorite valuation signal is nearing records, suggesting that stocks are richly valued. When looking at individual stocks, it's not only AI stocks that are surging higher. Everything from chicken wing restaurants to biotech companies are hitting valuations that look unsustainable in the long-term. These are the 10 most richly valued stocks in the market right now that have a market valuation of at least $10 billion, based on their price-to-sales ratio. 10. Trade Desk The Trade Desk/Twitter Ticker: TTD Price-to-sales ratio: 22.0x Market value: $42.7 billion 9. Palantir Arnd Wiegmann/Reuters Ticker: PLTR Price-to-sales ratio: 22.9x Market value: $50.9 billion 8. Wingstop Wingstop logo of an US chain SOPA Images / Getty Images Ticker: WING Price-to-sales ratio: 23.4x Market value: $10.8 billion 7. Cloudfare Cloudflare CEO Matthew Prince Mike Blake/Reuters Ticker: NET Price-to-sales ratio: 25.2x Market value: $32.7 billion 6. Crowdstrike Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Ticker: CRWD Price-to-sales ratio: 25.4x Market value: $77.5 billion 5. Legend Biotech Legend Biotech Ticker: LEGN Price-to-sales ratio: 35.8x Market value: $10.2 billion 4. Nvidia NurPhoto / Getty Ticker: NVDA Price-to-sales ratio: 37.1x Market value: $2.26 trillion 3. Arm Holdings Arm Holdings CEO Rene Haas Michael M. Santiago/Getty Images Ticker: ARM Price-to-sales ratio: 43.7x Market value: $128.5 billion 2. MicroStrategy Michael Saylor, CEO of MicroStrategy Joe Raedle/Getty Images Ticker: MSTR Price-to-sales ratio: 58.3x Market value: $28.9 billion 1. Astera Labs Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Ticker: ALAB Price-to-sales ratio: 97.7x Market value: $11.3 billion Read the original article on Business Insider

Fed must get 'more aggressive' with rate cuts due to weakening jobs market, Canaccord's chief market strategist says 2024-03-31 21:56:00+00:00 - The Federal Reserve may have new incentives in the second quarter to cut rates deeper this year. Canaccord Genuity's Tony Dwyer thinks a deteriorating jobs market and easing inflation will ultimately push the Fed to act. "I'm not saying that they have to go back to zero, but they have to be more aggressive," the firm's chief market strategist told CNBC's "Fast Money" on Thursday. "One of the most aggressive topics that I talk to clients about is how bad the incoming data is." Dwyer contends falling employment survey participation rates are skewing the Bureau of Labor Statistics' jobs report data. The next monthly jobs reading is due Friday. "It's not that they're manipulating the data. The conspiracy theories go bananas with this stuff. It's really that they don't have a good collection mechanism. So, the revisions are significant and most of them have been negative now," said Dwyer. "Our focus now is those rate cuts are what you need." At the March Federal Reserve policy meeting on interest rates, officials tentatively planned to slash rates three times this year. They would be the first cuts since March 2020. Dwyer expects the rate reduction will give financials , consumer discretionary , industrials and health care stocks a boost. The groups are positive this year. "Our call is to buy into the broadening theme on weakness rather than simply adding to the mega-cap weighted indices. The top 10 stocks still represent 33.7% of the total SPX [S&P 500] market capitalization," he wrote in a recent note to clients. "History shows that is historically high and doesn't last forever." According to Dwyer, market performance will become much more even by the end of this year into 2025.

AT&T says a data breach leaked millions of customers’ information online. Were you affected? 2024-03-31 21:32:35+00:00 - NEW YORK (AP) — The theft of sensitive information belonging to millions of AT&T’s current and former customers has been recently discovered online, the telecommunications giant said this weekend. In a Saturday announcement addressing the data breach, AT&T said that a dataset found on the “dark web” contains information including some Social Security numbers and passcodes for about 7.6 million current account holders and 65.4 million former account holders. Whether the data “originated from AT&T or one of its vendors” is still unknown, the Dallas-based company noted — adding that it had launched an investigation into the incident. AT&T has also begun notifying customers whose personal information was compromised. Here’s what you need to know. WHAT INFORMATION WAS COMPROMISED IN THIS BREACH? Although varying by each customer and account, AT&T says that information involved in this breach included Social Security numbers and passcodes — which, unlike passwords, are numerical PINS that are typically four digits long. Full names, email addresses, mailing address, phone numbers, dates of birth and AT&T account numbers may have also been compromised. The impacted data is from 2019 or earlier and does not appear to include financial information or call history, the company said. HOW DO I KNOW IF I WAS AFFECTED? Consumers impacted by this breach should be receiving an email or letter directly from AT&T about the incident. The email notices began going out on Saturday, an AT&T spokesperson confirmed to The Associated Press. WHAT ACTION HAS AT&T TAKEN? Beyond these notifications, AT&T said that it had already reset the passcodes of current users. The company added that it would pay for credit monitoring services where applicable. AT&T also said that it “launched a robust investigation” with internal and external cybersecurity experts to investigate the situation further. HAS AT&T SEEN DATA BREACHES LIKE THIS BEFORE? AT&T has seen several data breaches that range in size and impact over the years. While the company says the data in this latest breach surfaced on a hacking forum nearly two weeks ago, it closely resembles a similar breach that surfaced in 2021 but which AT&T never acknowledged, cybersecurity researcher Troy Hunt told the AP Saturday. “If they assess this and they made the wrong call on it, and we’ve had a course of years pass without them being able to notify impacted customers,” then it’s likely the company will soon face class action lawsuits, said Hunt, founder of an Australia-based website that warns people when their personal information has been exposed. A spokesperson for AT&T declined to comment further when asked about these similarities Sunday. HOW CAN I PROTECT MYSELF GOING FORWARD? Avoiding data breaches entirely can be tricky in our ever-digitized world, but consumers can take some steps to help protect themselves going forward. The basics include creating hard-to-guess passwords and using multifactor authentication when possible. If you receive a notice about a breach, it’s good idea to change your password and monitor account activity for any suspicious transactions. You’ll also want to visit a company’s official website for reliable contact information — as scammers sometimes try to take advantage of news like data breaches to gain your trust through look-alike phishing emails or phone calls. In addition, the Federal Trade Commission notes that nationwide credit bureaus — such as Equifax, Experian and TransUnion — offer free credit freezes and fraud alerts that consumers can set up to help protect themselves from identity theft and other malicious activity. ___ AP Reporter Matt O’Brien contributed to this report from Providence, Rhode Island.

Here are the 6 California Republicans up for reelection whose competitive districts could determine the House majority in 2024 2024-03-31 21:08:25+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview California Republicans are often thought as of an endangered species. But largely through the efforts of former Speaker Kevin McCarthy — a Bakersfield native who stepped down from the House last December — the GOP in recent years has been able to claw back some power in the Golden State by winning a set of highly-competitive swing districts in areas where the party still retains a sizable base of support. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. And it is in these districts, from the Central Valley to the outskirts of Los Angeles and down to Orange County, where the House majority will likely be won or lost in 2024. Republicans currently hold a slim 218-seat majority, a precarious position for the party as the 213-member House Democratic Caucus works to flip the chamber this year. Advertisement Here's a look at the six California congressional districts held by Republicans — five of which were won by President Joe Biden in 2020 — which will have an outsized role in which party holds the speaker's gavel in 2025: Rep. Young Kim. Bill Clark/CQ-Roll Call, Inc via Getty Images Young Kim, 40th District First elected to the House: 2020 Kim, a former member of the California State Assembly and onetime aide to former congressman Ed Royce, first ran for Congress in 2018 in hopes of succeeding her longtime boss. But she lost to Gil Cisneros in what was a banner year for Democrats, especially in the suburbs. Advertisement With the strong backing of McCarthy and other GOP leaders, Kim ran again in 2020 and defeated Cisneros in a rematch, becoming one of the first Korean-American women to serve in the House. After the 2020 Census, her congressional district, which now includes parts of Orange, Riverside, San Bernardino counties, was reconfigured into one that would have narrowly backed Biden. Kim won reelection by nearly 14 points in 2022, but Democrats see the contest as winnable. She'll now take on retired Orange County fire captain Joe Kerr in November. Rep. Michelle Steel. Bill Clark/CQ-Roll Call, Inc via Getty Images Michelle Steel, 45th District First elected to the House: 2020 Advertisement In 2020, Steel, a former Orange County supervisor, narrowly defeated then-Democratic Rep. Harley Rouda in a district that had long favored Republicans. (Two years earlier, Rouda flipped the district by defeating then-Rep. Dana Rohrabacher, a conservative fixture in Congress.) Steel has staked out socially-conservative positions on issues like abortion and same-sex marriage, and in 2022, she won reelection over Democratic nominee Jay Chen by nearly 5 points. But Biden would have won the current configuration of Steel's district, which includes parts of Orange and Los Angeles counties, by 6 points. In the November election, Steel will face Democrat Derek Tran, a consumer rights attorney. Advertisement Rep. Mike Garcia. Tom Williams/CQ-Roll Call, Inc via Getty Images Mike Garcia, 27th District First elected to the House: 2020 special election Garcia, a former Navy fighter pilot, has proven to be an adept candidate in his northern Los Angeles County-anchored district. In all three of Garcia's races, including the May 2020 special election triggered by the resignation of Democrat Katie Hill, he defeated former Democratic state lawmaker Christy Smith. Related stories In November 2020, Garcia narrowly defeated Smith by 333 votes out of nearly 340,000 ballots cast (a 0.1% edge), but in 2022 he won by a much more decisive 6 points. Advertisement So the district, which would have voted for Biden by 12 points under its new lines, remains a top priority for both parties headed into the 2024 elections. Republicans need to retain a foothold in suburban districts like the 27th to have any shot of retaining their majority, while Democrats see the district as a key pickup opportunity given its bluer lean at the presidential level. Democrats — including early-endorser Smith — are lined up behind George Whitesides, a former NASA chief of staff and onetime Virgin Galactic chief executive. Rep. Ken Calvert. Tom Williams/CQ-Roll Call, Inc via Getty Images Ken Calvert, 41st District First elected to the House: 1992 Advertisement Calvert is the longest-serving California Republican in Congress. A former local GOP county party chair, he's represented parts of Riverside County in Congress since 1993. His seat spans several Coachella Valley cities, along with parts of the Inland Empire, including Corona. The 15-term incumbent has been a mostly reliable vote for GOP leadership. Calvert was among the 147 Republicans who voted to overturn at least one state's election results after the 2020 presidential election. Calvert won most of his races by large margins before redistricting, and he last faced a truly competitive reelection fight in 2008. But in 2022, Calvert defeated Democrat Will Rollins, a former federal prosecutor, by just under 5 points. Calvert and Rollins will face off in a rematch this fall. Advertisement Rep. John Duarte. Tom Williams/CQ-Roll Call, Inc via Getty Images John Duarte, 13th District First elected to the House: 2022 Duarte isn't just a Republican in what would have been a Biden-won district in 2020. The businessman and pistachio farmer holds a Central Valley seat in one of the most pro-Biden districts that is currently held by a Republican. House Democrats have been eager to take shots at Duarte, including his decision to support House Judiciary Committee Chairman Jim Jordan's onetime bid for the speakership. Jordan failed to win the speakership, eventually paving the way for Speaker Mike Johnson of Louisiana. Advertisement In 2022, Duarte defeated Democrat Adam Gray, a former state assembly member, by just 564 votes, in what was one of the closest congressional races in the nation that year. Duarte and Gray will face each other again in November. Rep. David Valadao. Bill Clark/CQ-Roll Call, Inc via Getty Images David Valadao, 22nd District House tenure: 2013-2019, 2021-present Advertisement Valadao was narrowly booted from Congress during the anti-Trump 2018 wave. Two years later, the wealthy dairy farmer defeated Democratic Rep. TJ Cox in a rematch. Valadao's return to Congress was overshadowed by his decision to become one of 10 House Republicans to vote to impeach President Donald Trump in the aftermath of the Capitol riot. Unlike his colleagues, Valadao grew largely silent after the vote. As a result, Trump didn't train his ire on the Californian to the extent that he targeted the other nine GOP lawmakers. In 2022, Valadao bested Democrat Rudy Salas, a former state assembly member, by 3 points. The congressman will face Salas again in the general election.

James Carville says RFK Jr. will harm Trump more than Biden, but he 'worries' about Cornel West and Jill Stein 2024-03-31 20:52:49+00:00 - James Carville said RFK Jr.'s White House bid could be more of a drag on Trump than Biden. "Bobby Kennedy might hurt Trump more than he hurts Biden," he told MSNBC's Ari Melber last week. RFK Jr. said last week that his candidacy would be a "spoiler" for both Biden and Trump. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Democratic strategist James Carville, in a recent MSNBC interview, said that independent candidate Robert F. Kennedy Jr.'s presidential campaign might be a drag on former President Donald Trump's 2024 bid. While many observers say Kennedy Jr.'s campaign would harm Biden, the veteran Democratic strategist took the opposite view. "I actually think Bobby Kennedy might hurt Trump more than he hurts Biden," he told host Ari Melber last week. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

This California lawmaker wants to help you ignore your boss when they call you after hours 2024-03-31 20:30:31+00:00 - A lawmaker wants to pass a bill allowing employees to ignore after-hours calls from their boss. The California bill aims to address work policies that have become muddled post-pandemic. Assembly Bill 2751 would allow for exceptions for emergencies or scheduling changes. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement It's a universal headache: Your phone rings after work hours, and it's your boss. You don't know exactly what he or she wants, but it's probably not to wish you a good night or a happy weekend. More likely than not, an after-hours call means more work for you. Working conditions have changed since the COVID-19 pandemic, which put legions of workers on remote or hybrid schedules. Some of those flexible schedules and location policies remain in place, making it harder for workers to establish a concrete end to their workday. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Congressional Staffers Are Considering Leaving Their Jobs Due To The Harsh Political Climate: 'We Are In Danger As A Nation' 2024-03-31 20:03:00+00:00 - Loading... Loading... The recent departure of lawmakers from Capitol Hill has drawn significant attention, with many citing entrenched acrimony amidst Republicans barely clinging to a narrow House majority. However, the toll of the gridlock and partisanship on senior congressional staffers cannot be overlooked. A Congressional Management Foundation survey reveals that nearly half of upper-level aides are contemplating leaving their positions. The report highlights that 44% of Republican and 51% of Democratic staffers are considering departing due to the "heated rhetoric from the other party." Conducted between August and November 2023, the survey reached out to over 2,700 senior staffers, with 138 participating. Among those who frequently considered leaving and attributed it to their own party's rhetoric, 59% were Republican, and 16% were Democratic. A Republican House legislative director expressed concerns over the prevailing attitude of "my way or the highway" within both parties, emphasizing the necessity of compromise in governance. Also Read: Millions Of Americans Are Considering A Mass Exodus If Donald Trump Wins Again, Says Report Meanwhile, Democratic staffers showed higher levels of anxiety regarding their safety, potentially influenced by the harsh political discourse and the Jan. 6 Capitol riot. While Republican lawmakers have aimed to move past Jan, 6, Democrats have continued to press the issue, using defense of democracy as a central campaign theme, reported Business Insider. The strain of the political climate on staffers has been palpable, with one Democratic House staff director remarking to the Congressional Management Foundation, "The physical and psychological toll of this place cannot be understated. We are in danger as a nation." Loading... Loading... Since the start of the 118th Congress in January 2023, several lawmakers have departed, including former House Speaker Kevin McCarthy and Reps. Ken Buck, Bill Johnson, David Cicilline and Brian Higgins. GOP Rep. Mike Gallagher is also set to leave next month, and more than 40 House members have opted out of reelection. Now Read: Marjorie Taylor Greene Claims She Has Proof That Votes For Donald Trump In 2020 Were 'Lost In The Mail': 'I Think He'll Be Vindicated Easily' This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock

Daniel C. Lynch, Founder of Major Computer Exhibition, Dies at 82 2024-03-31 19:28:14+00:00 - Daniel C. Lynch, a computer network engineer whose exhibitions on networking equipment helped accelerate the commercialization of the internet in the 1980s and ’90s, died on Saturday at his home in St. Helena, Calif. He was 82. His death was confirmed by his daughter Julie Lynch-Sasson, who said he had been suffering from kidney failure. In the mid-1980s, when the internet was still the domain of academia and the government, Mr. Lynch was a computer facility manager who played a key role in the early years of data networking. Although the internet was very small and restricted to noncommercial use, Mr. Lynch was convinced of its ultimate commercial potential. Image Daniel C. Lynch in an undated photograph. He sold his company, Interop, to Ziff Davis in 1991 for an estimated $25 million. Credit... The Lynch Family Friends of his had recently started companies including Cisco Systems and Sun Microsystems. “And I’m going, Wait a minute, I can do this, too,” he said in a video recorded for his induction into the Internet Hall of Fame in 2019.

James Carville says Biden's poll numbers have gotten 'a little bit better' but that the president won't 'replicate' 2020 2024-03-31 19:15:17+00:00 - James Carville told MSNBC's Ari Melber that Democrats face a major engagement issue this year. "We're not going to replicate the 2020 coalition," he said, pointing to polling struggles with non-white men. Carville has been vocal that the party isn't adequately reaching out to males. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Democratic strategist James Carville during a recent MNSBC interview said he didn't think President Joe Biden would be able to reassemble his 2020 electoral coalition in the November election. Carville, who in recent months has been increasingly vocal about his view that the party is losing touch with non-white male voters, told host Ari Melber that while Biden's polling numbers have improved, the president would have a lot of work to do to win reelection. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Donald Trump's Last-Ditch Efforts To Delay Hush-Money Trial Challenged 2024-03-31 19:08:00+00:00 - Loading... Loading... Former President Donald Trump's legal team is seeking another delay for his hush-money trial, citing concerns over pretrial publicity and potential bias among Manhattan residents. His attorneys have argued that extensive media coverage and anti-Trump sentiment in Manhattan make it impossible to assemble a fair jury in April. According to a motion filed on March 18 and currently under review by New York Supreme Court Justice Juan Merchan, Trump's lawyers contend that the former president's constitutional right to a fair trial is at risk due to prejudicial pretrial publicity, reported Business Insider. This latest attempt to postpone Trump's trial, scheduled for April 15, marks the sixth such request since August, signaling a complex and multi-front effort by Trump's legal team to delay proceedings. Trump's defense has been actively investigating potential biases among potential jurors, pointing to polling data indicating significant negative opinions toward Trump among Manhattan residents. The defense has argued that such sentiments could compromise the fairness of the trial. Trump's attorneys have also scrutinized public statements and media appearances of key prosecution witnesses, including Michael Cohen and porn star Stormy Daniels, both of whom have been vocal critics of Trump. Also Read: Trump Warns Of 'Death And Destruction' If Charged In Hush Money Probe "To anyone who will listen, especially if they are paying, Cohen has and will continue to spew vitriol into the public sphere regarding President Trump, including in the buildup to the potential trial," the delay motion reads. Trump's legal team highlighted Cohen's social media activity and Daniels' podcast appearances as potential sources of prejudice against the former president. Prosecutors, however, remain adamant about proceeding with the trial, dismissing claims of prejudicial publicity and emphasizing the importance of effective jury selection practices. Despite the defense's efforts, the judge overseeing the case has also expressed reluctance toward further delays, underscoring the uphill battle Trump's legal team faces in their bid to postpone the trial. According to prosecutors, Trump allegedly falsified 34 personal and business documents in an illegal attempt to influence the outcome of the 2016 presidential election. These falsified documents purportedly concealed a $130,000 hush-money payment made to silence Daniels just eleven days before the election. Loading... Loading... Trump has pleaded not guilty, maintaining that he is the target of a politically motivated prosecution. Now Read: Five Ways Trump's Attorneys Plan To Tackle His Hush Money Case This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo: Shutterstock