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Vontier

Vontier, spun off from Fortive in 2020, is an industrial technology company with a portfolio of transportation and mobility solutions. The company offers a wide array of products and services, including fueling equipment, sensors, point-of-sale and payment systems, telematics, and equipment used by vehicle mechanics and technicians. Vontier generated approximately $3.1 billion in sales in 2023.

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Upgrades

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Analyst Ratings

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Trading Ideas

BofA Securities analyst Andrew Obin upgraded Vontier Corp (NYSE: VNT) to Buy from Neutral at an increased 

Vontier Prepared For A Solid 2024 With Revenue And Margin Growth: Analyst

Small Cap

Pre-Market Outlook

BRBR

BRSP

NVAX

RIVN

U.S. stock futures traded higher this morning. Here are some big stocks recording losses in today’s pre-market trading session.


Novavax, AMC Entertainment And Other Big Stocks Moving Lower In Wednesday&#39;s Pre-Market Session

Downgrades

Several industrial stocks were on the move on Monday after one Wall Street analyst adjusted his coverage and named his top sector stock picks for 2023.

The Analyst: Bank of America analyst Andrew Obin has issued the following industrial stock ratings changes:

Analyst Downgrades Johnson Controls And 3 Other Industrial Stocks, Names Top Sector Picks For 2023

Management

Harsco&#39;s CFO Anshooman Aga Resigns To Join Vontier

Buybacks

Tech

Here&#39;s Why Vontier Shares Are Trading Higher Today

Earnings

Guidance

Vontier Q2 Result Tops Estimates, Lifts FY21 Outlook On Order Growth

Media

Vontier To Acquire DRB Systems For $965M, Raises Q2 Earnings Outlook

ABNB

BOOT

RADA

SEAH

ZNGA

On CNBC&#39;s &#34;Mad Money Lightning Round,&#34; Jim Cramer said Israeli weapons company Rada Electronic Industries Ltd (NASDAQ: RADA) is highly valued.

Cramer Weighs In On Zynga, Hyatt And More in &#39;Lightning Round&#39;

Investors Cheer Vontier&#39;s Hiked FY21 Guidance After Strong Q1 Earnings Growth

AMPH

FUBO

Some of the stocks that may grab investor focus today are:

5 Stocks To Watch For December 29, 2020

Vontier Corp

VENTANA BIOTECH INC by Ventana Biotech, Inc.

Ventana Biotech Inc

VINTE VIVNDAS INTEGRALE by VINTE VIVIENDAS INTEGRALES S A B

Vinte Viviendas Integrales SAPI de CV

NANO MOBILE HEALTHCARE by Nano Mobile Healthcare, Inc.

Nano Mobile Healthcare Inc

VENTURENET CAP GROUP INC by VentureNet Capital Group, Inc.

VentureNet Capital Group Inc

Venator Materials PLC

VENATOR MATERIALS PLC by Venator Materials PLC

Financial anxiety is not a new concept—many people struggle with how to spend their money, <a href="https://www.benzinga.com/money/retirement-planning-guide">save for retirement</a>, and manage their finances. One term that encompasses all of this is ‘money dysmorphia.'&nbsp;
So, what is money dysmorphia?&nbsp;
Don't Miss:
<ul>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
<li>Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune —<a href="https://www.benzinga.com/money/advisor-adv-warren-buffett"> How much is that worth today?</a></li>
</ul>
"Money dysmorphia is when you have a warped or distorted view of your finances," Danielle Desir, a personal finance expert and host of "The Thought Card" podcast, told HuffPost. "You see your financial situation much differently from your reality. Money dysmorphia can be caused by a variety of reasons, including past money trauma, societal pressures, economic crisis, or could be deeply rooted in childhood upbringing."
A recent Credit Karma study shows that 29% of Americans experience money dysmorphia, and the problem is much greater for younger generations. About 43% of Gen Z and 41% of Millennials experience money dysmorphia, compared to 25% of Gen X and 14% of Boomers.&nbsp;
Elizabeth Ayoola, a personal finance writer at NerdWallet, told HuffPost that those with money dysmorphia often view their finances subjectively rather than objectively. This skewed perception can manifest in several ways:
<ul>
<li>Saving excessively: Some people may save excessively because they feel they are falling behind their peers.</li>
<li>Overspending: This becomes a problem for people who feel they are more financially secure than they are. </li>
<li>Strong emotional reactions: Experiencing anxiety, sadness, frustration, or unworthiness when confronted with friends' financial milestones can be a sign of money dysmorphia, especially when it leads to unnecessary spending. </li>
<li>Lifestyle choices: People may live lifestyles they can't afford, or conversely, may be financially secure but deny themselves enjoyment because they think they don't have enough. </li>
<li>Obsessive behaviors: Constantly checking bank balances, avoiding discussing finances, comparing oneself to others, and feeling guilty about necessary purchases are common among people with money dysmorphia. </li>
</ul>
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: Miami is expected to take New York's place as the U.S. Financial Capital.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Here's how you can invest in the city before that happens</a>.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Social media has not helped the issue. When people share the parts of their lives that appear more extravagant, it evokes a sense of needing to "keep up with the Joneses." Seeing the seemingly perfect lives of others can skew one's perception of their finances.&nbsp;
Another reason for many struggling with money dysmorphia is this obsession with being rich. Credit Karma says that 27% of Americans are obsessed with the idea of being rich, and of those with money dysmorphia, 54% are obsessed with wanting to be rich.&nbsp;
Courtney Alev, a consumer financial advocate at Credit Karma, says there are a few ways individuals can overcome money dysmorphia:&nbsp;
<ul>
<li>Take an honest look at your finances.</li>
<li>Set clear goals.</li>
<li>Make a plan.</li>
<li>Stop comparing yourself to others.</li>
</ul>
"If your goal is to build up your savings," she says, "start by doing an audit of your finances to see where in your budget you can make room for savings. From there, you can schedule automatic payments from each paycheck to help hold you accountable and incrementally increase your savings."&nbsp;
Addressing money dysmorphia requires a blend of self-awareness, education, and sometimes even professional guidance. Recognizing these signs in yourself is the first step toward reclaiming a healthier relationship with finances. Whether saving excessively, overspending, or constantly comparing your financial situation to others, seeking support from a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can provide invaluable perspective and practical strategies tailored to your individual needs.
Read Next:
<ul>
<li>This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.</li>
<li>No generation before Gen Z has had this investment opportunity &#8211;<a href="https://www.benzinga.com/money/retiring-at-30-adv"> How successful Zoomers plan to retire in their 30's</a>.</li>
</ul>

Personal Finance

You May Be Suffering From 'Money Dysmorphia' — Almost One-Third Of Americans Are And Here's Why

President <a href="https://www.benzinga.com/news/24/06/39543594/biden-vs-trump-flash-poll-picks-debate-winner-but-over-one-third-of-voters-doubt-his-ability-to-lead">Joe Biden is widely considered to be the loser in the first presidential debate</a> that was held Thursday night but Donald Trump&#8217;s niece Mary Trump went on to make the case that the incumbent could still be a better bet for America.
Style Over Substance? If the winner is decided based on honesty, policy, a vision for America and the defense of democracy, Donald Trump could have had a &#8220;apocalyptically disastrous&#8221; debate, said Mary Trump in a substack<a href="https://marytrump.substack.com/p/why-im-still-with-president-biden?utm_source=post-email-title&amp;publication_id=559646&amp;post_id=146097621&amp;utm_campaign=email-post-title&amp;isFreemail=true&amp;r=rkloa&amp;triedRedirect=true&amp;utm_medium=email"> post. </a>&#8220;But if we're only going to count style over substance, I'll take hoarse and halting over hate-filled and unhinged every day of the week,&#8221; she said.
Choosing Donald Trump over Biden would be to reward &#8220;cruelty, incompetence, and mendacity while punishing empathy, accomplishment, and experience,&#8221; Mary Trump, a psychologist said.
See Also: <a href="https://www.benzinga.com/news/24/06/39563238/scaramucci-says-democrats-have-to-switch-up-their-strategy-immediately-after-bidens-brutal-debate-pe">Scaramucci Says Democrats Have To &#8216;Switch Up Their Strategy Immediately&#8217; After Biden&#8217;s &#8216;Brutal&#8217; Debate Performance: &#8216;Trump Will Win On Nov. 5 Unless &#8230;&#8217;</a>
Aided By Moderators: Donald Trump was empowered by the debate moderators to &#8220;steamroll the truth with an incessant stream of increasingly bizarre and dangerous lies,&#8221; she added. She noted that her uncle went onto say he not<a href="https://www.benzinga.com/general/biotech/22/04/26419176/house-passes-bill-to-cap-out-of-pocket-insulin-costs-to-no-more-than-35month"> Biden instituted a cap on insulin, </a>that blue states allow women and their doctors to commit infanticide, and that Nancy Pelosi was somehow responsible for January 6th.
Mary Trump questioned as to why the moderators Jake Tapper and Dana Bash chose to &#8220;abdicate their journalistic responsibility in service to a man who is an enemy of American democracy and a free press.&#8221; 
The moderators focused on immigration, inflation, Biden&#8217;s age, hostility toward the allies of U.S., and embracement of authoritarian dictators, she said. They did not steer the debate toward Donald Trump&#8217;s 34 felony convictions, his incitement of insurrection and refusal to accept the results of a free and fair election, she added.
&#8220;My uncle is a cruel and fundamentally dishonest man, a criminal and a traitor,&#8221; Mary Trump said.
&#8220;He deserves no praise for lying forcefully or denigrating America with vigor or laying out a dystopian vision of American in which basic human rights are stripped from millions of women just because he did so with crystal clearly.&#8221;
The debate, Mary Trump said, showed &#8220;Biden is a human being who has his off days while my uncle is awful every day.&#8221; 
&#8220;I'll take the decent guy with the sore throat who believes in democracy over the rapist insurrectionist monster every single time.
Read Next:<a href="https://www.benzinga.com/money/how-to-invest-in-startups"> How To Invest In Startups</a>

Politics

Trump's Niece Says Ex-President Had 'Apocalyptically Disastrous' Debate: 'Deserves No Praise For Lying Forcefully Or Denigrating America'

The 2024 Bank of America Private Bank Study of Wealthy Americans reveals that Generation Z and Millennial investors are increasingly turning to alternative investments, moving away from <a href="https://www.benzinga.com/markets/bonds">traditional stocks and bonds.</a>
The study, which surveyed 1,007 U.S. high-net-worth individuals with at least $3 million in investable assets, found that 72% of investors aged 21-43 believe it&#8217;s no longer feasible to achieve above-average returns solely through traditional equities and bonds, according to <a href="https://www.planadviser.com/younger-high-net-worth-investors-seek-alternative-investments/">planadviser</a>. This contrasts sharply with only 28% of investors over 44 who share this view.
Younger investors have significantly lower exposure to stocks and bonds (47%) compared to their older counterparts (74%). Instead, they allocate 17% of their portfolios to alternatives, versus just 5% for older investors. An overwhelming 93% of younger investors plan to increase their alternative investments in the coming years.
The survey highlights diverse interests among younger investors:
<ul>
<li>49% already hold cryptocurrencies, with 38% interested in acquiring them</li>
<li>Real estate investments are seen as offering the best growth prospects</li>
<li>45% physically hold gold, with another 45% interested in doing so</li>
</ul>
Aaron Filbeck, managing director and head of Unifi by CAIA Association, attributes this trend to recent market volatility and the growing opportunity in private markets. He notes that venture-backed companies are staying private longer, and banks are retreating from small and medium-sized business lending, creating new investment opportunities.
The CAIA&#8217;s report, &#8220;Crossing the Threshold,&#8221; suggests a &#8220;second phase of democratization&#8221; in alternative investments, with improved technology and access points enabling a wider range of investors to participate in private market products.
However, Filbeck cautions plan sponsors and advisers to carefully consider the implementation of alternatives, especially in 401(k) plans, due to liquidity, fee, and complexity issues. He encourages an open-minded approach, particularly for younger investors far from retirement, while emphasizing the importance of risk management and due diligence.
The growing interest in alternatives among younger high-net-worth investors signals a potential shift in long-term investment strategies and portfolio construction, something advisors should pay close attention to.
Read Next:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39555118/nike-analysts-sour-on-retailers-short-term-prospects-following-poor-outlook-no-quic">Nike Analysts Sour On Retailer&#8217;s Short-Term Prospects Following Poor Outlook: &#8216;No Quick Rebound&#8217;</a>
Image via Unsplash

Financial Advisors

Education

Gen Z, Millennial High-Net-Worth Investors Abandon Traditional Investments

https://medium.com/@mingchikuo/配備ir相機的新款airpods可望提升人機交互體驗與強化apple空間音訊-空間運算生態-new-ir-camera-equipped-airpods-to-enhance-2daa96913d7f

AAPL

Apple Analyst Ming-Chi Kuo Said  Apple Plans To Mass-produce New AirPods With Camera Modules By 2026, Featuring An IR Camera Similar To The iPhone Face ID Receiver

Recent court filings reveal that the estate of pop legend Michael Jackson was in debt to the tune of over $500 million at the time of his death in 2009.
What Happened: Documents filed in Los Angeles on June 21 and later obtained <a href="https://people.com/michael-jackson-was-over-usd500-million-in-debt-at-time-of-death-new-court-documents-reveal-8670327">by</a> People magazine last week showed that Jackson owed this massive sum to more than 65 creditors. The filings also disclosed that the late singer had multiple lawsuits pending worldwide.
The executors of Jackson&#8217;s estate renegotiated and restructured financing arrangements to manage the debts. This included a $750 million deal with Sony over music publishing rights for several artists, which allowed Sony to acquire Sony/ATV. According to People, despite these efforts, the estate still owes a significant amount of money.
The documents also indicate a pending final decision on a victory in a 2021 court battle with the IRS. Jackson's three children, the beneficiaries of his estate, are currently blocked from receiving money from their trust until the IRS dispute is resolved.
Also Read: <a href="https://www.benzinga.com/general/entertainment/24/03/37576981/robert-de-niro-says-he-refuses-to-ever-portray-donald-trump-the-guy-is-a-total-monster">Robert De Niro Says He Refuses To Ever Portray Donald Trump: &#8216;The Guy Is A Total Monster&#8217;</a>
In February, Sony Music reportedly purchased Jackson's music catalog for at least $600 million, injecting more funds into the estate. The Los Angeles Times previously reported that Jackson&#8217;s excessive spending habits largely contributed to his significant debt.
Why It Matters: The Jackson estate&#8217;s financial woes are a stark reminder of the late pop star&#8217;s tumultuous financial history. Despite his immense success and earnings, Jackson&#8217;s lavish lifestyle and spending habits led to mounting debts, which his estate has been grappling with since his death.
The estate&#8217;s efforts to manage these debts, including the $750 million deal with Sony, have been significant. However, the ongoing legal battles and unresolved IRS issues continue to hamper the estate&#8217;s ability to clear the debts and distribute the inheritance to Jackson&#8217;s children.
The purchase of Jackson&#8217;s music catalog by Sony Music provided a much-needed financial boost to the estate. Still, it remains to be seen how the estate will navigate the remaining financial challenges and fulfill its obligations to the creditors and beneficiaries.
Now Read: <a href="https://www.benzinga.com/markets/cannabis/23/07/33375571/tony-bennett-once-called-for-the-legalization-of-drugs-after-whitney-houstons-death">Tony Bennett Once Called For The Legalization Of Drugs After Whitney Houston&#8217;s Death</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Entertainment

Michael Jackson Faced Over $500 Million Worth Of Debt At Time Of Death, Filings Show

Rekt Capital, a well-known crypto strategist, has issued a warning about a potential further correction for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39562507/peter-schiff-says-things-will-likely-get-much-worse-from-here-for-bitcoin-investors">suggesting a possible drop</a> to $55,000.
What Happened: The analyst, who has previously accurately predicted Bitcoin&#8217;s pre-halving pullback, recently stated that the cryptocurrency could correct to much lower levels.
In a YouTube <a href="https://www.youtube.com/watch?v=SMgaKRZtCXg">video</a> over the weekend, Rekt Capital speculated, &#8220;What if we were going see a deepest correction in the cycle, or at least equal to the deepest correction in the cycle of 23.8%? That would see us go to $55,000.&#8221;
However, he also suggested that a deeper drawdown is unlikely at this point in the cycle, and that Bitcoin has either already hit a local bottom or is experiencing a more shallow pullback. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39447328/anthony-scaramucci-says-crypto-will-soar-if-this-presidential-candidate-wins-the-election-" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says Crypto Will Soar If This Presidential Candidate Wins The Election: ‘I Think We'll See All-Time Highs For Bitcoin And Other Assets'</a>
"Is that a possibility that we see the deepest correction not too long after already seeing the deepest correction this cycle just after the halving? That was around late April, early May. We saw a record-breaking deep correction in this cycle. We eclipsed the early 2023 pullback, and it took a year and a half for that new record to come in,&#8221; the analyst said. 
&#8220;So to now talk about another record and another deep retrace occurring only a month-and-a-half later, I think that's a little bit too farfetched. I don't think we're going to eclipse that retrace depth for the deepest retrace in this cycle. I think it would be either this being the bottom already or a slight additional pullback,&#8221; he added.
At the time of writing, Bitcoin was trading for $61,376.35, down by almost 5% in the last seven days. .
Why It Matters: This prediction comes in contrast to the recent forecast by former Goldman Sachs executive Raoul Pal. Pal anticipated a significant surge in Bitcoin and the overall crypto market in the fourth <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39447599/raoul-pal-foresees-crypto-boom-in-election-years-q4-names-it-banana-zone">quarter of the presidential election year.</a>
He stated that risk assets like Bitcoin typically experience rallies during Q4 of an election year, referring to this period as the &#8220;banana zone.&#8221; These contrasting views highlight the volatility and unpredictability of the cryptocurrency market.
Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39241558/analyst-predicts-bitcoin-to-reach-groundbreaking-100-000-milestone#google_vignette">Analyst Predicts Bitcoin To Reach Groundbreaking $100,000 Milestone</a>
Photo: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitcoin May Face Another Correction, Dropping To $55,000, Predicts Crypto Analyst

Former U.S. President Donald Trump has experienced a series of political triumphs this week, following President Joe Biden&#8216;s lackluster performance in their inaugural debate <a href="https://www.benzinga.com/news/24/06/39241154/trump-vs-biden-hush-money-conviction-signals-good-news-for-one-candidate-in-tight-presidential-race">and two positive Supreme Court rulings. </a>
What Happened: Despite facing criticism for his own debate performance, Trump managed to capitalize on Biden&#8217;s apparent memory lapses and strained voice, which have raised concerns about the 81-year-old president&#8217;s health. Trump&#8217;s sharp retorts during the debate have caused unease among Democrats.
&#8220;Trump is benefiting only in the sense that Biden did not benefit,&#8221; Christian Grose, a professor of political science and public policy at the University of Southern California, <a href="https://www.businessinsider.com/donald-trump-wracks-up-wins-biden-debate-supreme-court-2024-6">told</a> Business Insider.
Grose, however, pointed out that the majority of voters have already made up their minds and Biden&#8217;s poor performance is unlikely to convince Democrats to switch sides.
In a development that occurred less than 24 hours after the debate, the Supreme Court overturned the Chevron doctrine, a decision that conservatives have long championed, and reduced charges for several individuals involved in the Jan. 6, 2021 riots. Both rulings are perceived as victories for Trump, who appointed three conservative justices during his tenure.
Also Read: <a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one">Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden — Although There&#8217;s One Silver Lining</a>
However, Grose warned that these wins could potentially harm Trump&#8217;s campaign by reminding voters of the Supreme Court&#8217;s conservative shift under his administration. 
Additionally, Trump&#8217;s refusal to accept responsibility for his actions could deter undecided voters, particularly if the Supreme Court grants him extensive immunity.
&#8220;We just have to wait and see how the polls shake out,&#8221; Grose added.
Why It Matters: The recent events have undoubtedly given Trump a political boost, but whether this momentum will translate into electoral gains remains to be seen. 
The Supreme Court&#8217;s rulings and Biden&#8217;s debate performance could potentially influence public opinion and shape the political landscape in the lead-up to the next election. However, as Grose pointed out, most voters have already made up their minds, and these developments may not significantly alter the political dynamics. 
The impact of these events on Trump&#8217;s political fortunes will become clearer as the polls unfold.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti" target="_blank" rel="noreferrer noopener">Following Trump's Guilty Verdict, Legal Experts Say He Could Face This Punishment Instead Of Prison Time</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Outside Last Week's Debate, Trump Gained Momentum With Two Major Supreme Court Developments — For Better Or Worse

The week was buzzing with major tech news, with artificial intelligence (AI) taking center stage. From potential partnerships to analyst upgrades and deepfake concerns, here&#8217;s a round-up of the top stories that made headlines.
Meta Eyes Apple&#8217;s AI
Reports surfaced over the weekend that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are in talks about a potential AI partnership. Wedbush Securities analyst Dan Ives shared his insights, stating that Meta&#8217;s interest lies in integrating its generative AI model into Apple&#8217;s new AI system, Apple Intelligence.
<a href="https://www.benzinga.com/news/24/06/39471487/dan-ives-says-the-golden-goose-for-meta-is-apple-intelligence-right-now-youre-on-the-outside-of-this">Read the full article here</a>.
Apple&#8217;s AI Initiatives Impress Analysts
Rosenblatt analyst Barton Crockett upgraded shares of Apple from Neutral to Buy, raising the price target from $196 to $260. This bullish stance comes on the heels of Apple&#8217;s AI initiatives showcased at the company&#8217;s Worldwide Developers Conference earlier this month.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39503743/apple-to-gain-market-share-with-ai-smartphone-says-bullish-analyst-skate-to-where-t">Read the full article here</a>.
See Also: <a href="https://www.benzinga.com/news/24/06/39515667/jeff-bezos-doubled-productivity-at-amazon-in-its-infancy-by-simply-buying-a-table-the-most-brilliant?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Doubled Productivity At Amazon In Its Infancy By Simply Buying A Table</a>
Deepfakes and the Future of Reality
Twitter co-founder and Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) CEO, Jack Dorsey, warned about the increasing difficulty in distinguishing between reality and fabrication due to the proliferation of deepfakes. He made these remarks at the Festival of the Sun, an event curated by producer Rick Rubin.
<a href="https://www.benzinga.com/news/24/06/39449884/twitter-co-founder-jack-dorsey-thinks-deepfakes-are-taking-us-toward-a-simulated-future-elon-musk-as">Read the full article here</a>.
AI Safety Remains a Priority for Anthropic&#8217;s CEO
Dario Amodei, CEO of Anthropic, an AI startup backed by Alphabet Inc.'s Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Jeff Bezos' Amazon.com Inc., reaffirmed his commitment to AI safety, irrespective of the 2024 elections outcome. He expressed his intentions to work with the next president to ensure AI safety and stay ahead of adversaries in this technology.
<a href="https://www.benzinga.com/news/24/06/39450394/whether-donald-trump-wins-election-or-joe-biden-jeff-bezos-backed-anthropics-ceo-says-my-message-is">Read the full article here</a>.
Arm Holdings CEO on the Rapid Growth of AI
Rene Haas, CEO of SoftBank Group subsidiary Arm Holdings, believes that analysts have underestimated the pace at which AI is advancing. He pointed out that AI will significantly change people's lives and that 70% of the world's devices use Arm chips, positioning the company well in the AI race.
<a href="https://www.benzinga.com/markets/equities/24/06/39470998/arm-holdings-ceo-rene-haas-says-experts-underestimated-the-rapid-growth-of-ai-the-analysts-maybe">Read the full article here</a>.
Read Next: <a href="https://www.benzinga.com/news/24/06/39494097/chatgpt-parent-openai-to-block-access-to-ai-tools-amid-growing-tech-tensions-between-washington-and?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">ChatGPT-Parent OpenAI To Block Access To AI Tools Amid Growing Tech Tensions Between Washington And Beijing</a>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

GOOG

GOOGL

Apple's AI Initiatives Impress Analysts, Meta Eyes Apple Intelligence, Arm Holdings CEO On Rapid Growth Of AI And More: This Week In AI

The past week has been a rollercoaster for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with a mix of potential partnership rejections, health accusations, and product leaks making headlines. Here&#8217;s a quick recap of the top stories involving the tech giant.
Apple Rejects Meta&#8217;s AI Integration Proposal
Despite initial discussions in March, Apple has reportedly declined Meta Platforms Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) proposal to incorporate its AI chatbot, Llama, into the iPhone. The decision was partially due to Apple&#8217;s concerns about Meta&#8217;s privacy practices, according to Bloomberg.
<a href="https://www.benzinga.com/news/24/06/39470144/apple-reportedly-said-no-to-metas-offer-for-iphone-ai-integration-due-to-privacy-policy-concerns">Read the full article here.</a>
Former Employee Accuses Apple of Chemical Exposure
Ashley Gjovik, a former Apple employee, has accused the company of exposing her to hazardous chemicals from a secret chip manufacturing facility, leading to severe health issues. The Environmental Protection Agency (EPA) reportedly found 19 potential violations of regulations by Apple at the Santa Clara site.
<a href="https://www.benzinga.com/news/24/06/39470644/former-apple-employee-claims-she-nearly-died-due-to-chemical-exposure-from-secret-chip-plant-i-tippe">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39467166/dan-ives-says-apple-stock-is-headed-to-300-tim-cook-could-claim-godfather-of-ai-tit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dan Ives Says Apple Stock Is Headed To $300, Tim Cook Could Claim &#8216;Godfather Of AI&#8217; Title</a>
Meta&#8217;s &#8216;Golden Goose&#8217; is Apple Intelligence
Wedbush Securities analyst Dan Ives has shared his insights on the potential AI partnership between Apple and Meta. According to Ives, Meta&#8217;s primary interest in the partnership is to penetrate the Apple layer, similar to OpenAI, to tap into Cupertino's significant consumer base.
<a href="https://www.benzinga.com/news/24/06/39471487/dan-ives-says-the-golden-goose-for-meta-is-apple-intelligence-right-now-youre-on-the-outside-of-this">Read the full article here.</a>
Apple Watch X Rumored to Feature Largest Display Yet
Leaked images of the rumored Apple Watch X or Series 10 suggest a larger display and a thinner case. The device is reportedly larger than the current Series 9 but smaller than the Ultra.
<a href="https://www.benzinga.com/news/24/06/39518145/apple-watch-x-cupertinos-special-10th-anniversary-edition-to-reportedly-feature-largest-display-yet">Read the full article here.</a>
Apple&#8217;s Plan to Reduce Assembly Workforce Faces Setback
Apple&#8217;s plan to cut its iPhone assembly workforce by up to 50% over the next few years is reportedly facing challenges due to precision issues. The decision to favor automation over human workers is partly influenced by the supply chain disruptions and delays caused by the COVID-19 pandemic.
<a href="https://www.benzinga.com/news/24/06/39474703/tim-cooks-goal-to-slash-assembly-workers-by-up-to-50-faces-setback-apple-reportedly-facing-precision">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39503743/apple-to-gain-market-share-with-ai-smartphone-says-bullish-analyst-skate-to-where-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple To Gain Market Share With AI Smartphone, Says Bullish Analyst: &#8216;Skate To Where The AI Puck Is Going</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Apple Rejects Meta's AI Integration Proposal, Ex-Employee Accuses iPhone-Maker Of Chemical Exposure And More: This Week In Appleverse

As the week wraps up, we look back at a week filled with political debates, social media commentary, and some serious allegations. From Elon Musk&#8216;s witty take on the presidential debate to Bernie Sanders&#8216; concerns about drug pricing, and Mark Cuban&#8216;s accusations against Donald Trump, the week was nothing short of eventful. Here&#8217;s a quick roundup of the top stories.
Musk&#8217;s Take on the Presidential Debate CEO of Tesla Inc., Elon Musk, shared his unique perspective on the recent presidential debate via X, formerly Twitter. In a world where memes rule, Musk declared the debate a &#8220;clear victory…for memes,&#8221; amidst a social media frenzy of memes and video clips featuring presidential candidates Joe Biden and Donald Trump. <a href="https://www.benzinga.com/news/24/06/39548930/elon-musk-says-first-presidential-debate-was-a-clear-victory-not-for-trump-or-biden-but-for">Read the full article here.</a>
Trump Triumphs in Flash Poll Following the first presidential debate, a flash poll revealed that Donald Trump, the presumptive Republican candidate, was the clear winner. The poll, conducted by SSRS on behalf of CNN, showed that 67% of debate watchers believed Trump outperformed Biden, who only received a better performance rating from 33% of respondents. <a href="https://www.benzinga.com/news/24/06/39543594/biden-vs-trump-flash-poll-picks-debate-winner-but-over-one-third-of-voters-doubt-his-ability-to-lead">Read the full article here.</a>
Sanders Criticizes Ozempic Pricing Bernie Sanders (I-Vt.) expressed his concerns about the pricing of popular diabetes drug, Ozempic, and its manufacturer, Novo Nordisk. In a tweet, Sanders pointed out that the drug&#8217;s manufacturer is charging U.S. consumers 10-15 times more than consumers in other countries, predicting that Ozempic will likely become one of the best-selling pharmaceutical products in history. <a href="https://www.benzinga.com/news/24/06/39515914/bernie-sanders-ozempic-will-likely-become-one-of-the-best-selling-pharmaceutical-products-in-history">Read the full article here.</a>
Cuban Slams Trump Billionaire entrepreneur Mark Cuban took to X, formerly Twitter, to criticize former President Donald Trump's actions. Cuban highlighted various controversial actions by Trump, including Trump University, the 2020 election, and immigration policies. He accused Trump of ripping off thousands of hard-working Americans and not paying his bills. <a href="https://www.benzinga.com/news/24/06/39516013/mark-cuban-accuses-trump-of-ripping-off-thousands-of-hard-working-americans-and-not-wanting-to-leave">Read the full article here.</a>
Trump Jr. Bets on Father&#8217;s Golf Skills Following the first presidential debate, Donald Trump Jr. expressed his confidence in his father&#8217;s golfing skills. He offered to bet &#8220;everything&#8221; on his father if a golf match were to take place between former President Donald Trump and incumbent President Joe Biden. <a href="https://www.benzinga.com/news/24/06/39541782/donald-trump-jr-says-he-will-bet-everything-on-his-father-if-joe-biden-and-the-former-president-have">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/06/39539797/john-bolton-says-it-would-be-a-mistake-if-this-issue-werent-discussed-at-trump-biden-debate-tonight?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">John Bolton Says It Would Be A Mistake If This Issue Weren&#8217;t Discussed At Trump-Biden Debate Tonight</a>
Image Via Shutterstock

General

Elon Musk's Take On Biden Vs. Trump Debate, Bernie Sanders Criticizes Ozempic Pricing And More: Top Political Updates This Week

The weekend was abuzz with a flurry of news, from reports on national debt to the latest Federal Reserve stress test results. Former President Donald Trump&#8217;s economic policies were under scrutiny, while the call for a rate cut by a prominent economist added to the mix. Here&#8217;s a quick recap of the top stories.
Fed Stress Test Results
Bank of America analyst Ebrahim H. Poonawala highlighted the &#8220;inherent opacity&#8221; of the Federal Reserve stress test results. The tests revealed a wide range of impacts on minimum capital requirements, with Goldman Sachs experiencing the largest year-over-year increase in its stress capital buffer (SCB). This could potentially slow down share buybacks and negatively impact return on equity (ROE) in the latter half of 2024.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39531404/bank-of-america-analyst-highlights-fed-stress-test-opacity-varying-bank-impacts-gol">Read the full article here.</a>
Trump&#8217;s Debt Legacy
A recent report by the non-partisan Committee for a Responsible Federal Budget (CRFB) revealed that former President Donald Trump added nearly twice as much to the national debt as President Joe Biden. Trump&#8217;s tenure saw an addition of $8.4 trillion to the national debt, while Biden has added $4.3 trillion with seven months left in his term. Trump&#8217;s debt approvals from 2017 through 2021 included $4.8 trillion in non-COVID related and $3.6 trillion in COVID relief.&nbsp;
<a href="https://www.benzinga.com/government/24/06/39462030/trump-added-nearly-two-times-more-to-the-national-debt-than-biden-while-in-office-new-report">Read the full article here.</a>
Newsom&#8217;s Warning On Trump&#8217;s Economic Plan
California Governor Gavin Newsom criticized Trump&#8217;s economic policies, warning that they could cost working families up to $8,300 in higher taxes. Newsom accused Trump of making America more expensive, with measures that would impose an additional 10% tariff on everyday goods and increase labor and production costs for companies.&nbsp;
<a href="https://www.benzinga.com/news/24/06/39518400/gavin-newsom-warns-trumps-big-economic-plan-could-cost-working-families-up-to-8-300-in-higher-taxes">Read the full article here.</a>
Nobel Laureates Warn Of Inflation Under Trump
Sixteen Nobel Prize-winning economists issued a joint warning about the potential economic risks of a second Trump term. They cautioned that Trump&#8217;s proposed policies could reignite inflation, with measures such as making his first-term tax cuts permanent and imposing universal tariffs on all imports.&nbsp;
<a href="https://www.benzinga.com/news/24/06/39494434/trump-will-reignite-inflation-say-16-nobel-prize-winning-economists-in-a-letter-joe-bidens-economic">Read the full article here.</a>
El-Erian&#8217;s Call For Rate Cut
Mohamed El-Erian, chief economic adviser at Allianz, suggested that the Federal Reserve should consider a rate cut in July. However, he expressed skepticism about the likelihood of this happening, pointing to disagreements regarding inflation dynamics and a rapidly slowing economy.&nbsp;
<a href="https://www.benzinga.com/fintech/24/06/39494283/mohamed-el-erian-calls-for-july-rate-cut-by-but-says-i-dont-think-fed-will-take-this-step-we-are-liv">Read the full article here.</a>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Economics

Gavin Newsom's Warning On Trump's Economic Plan, Mohamed El-Erian's Call For Rate Cut And More: This Week In Economics

In the wake of a debate performance that drew widespread criticism, speculation has been reignited about whether President Joe Biden should bow out before the November election.
What Happened: David Axelrod, a former senior advisor to the White House during President Barack Obama&#8216;s tenure, voiced concerns about Biden&#8217;s debate showing. 
Axelrod <a href="https://www.cnn.com/2024/06/28/politics/joe-biden-debate-performance-panic/index.html">told</a> CNN, &#8220;There are going to be discussions about whether he should continue.&#8221;
Despite the backlash, Biden has stood firm in his reelection bid, pointing to his age as a strength and underscoring his achievements such as the bipartisan infrastructure bill and the Inflation Reduction Act.
Potential Successors
Should Biden decide to step down, several potential successors have been named, as reported <a href="https://www.businessinsider.com/biden-reelection-democrats-harris-newsom-whitmer-klobuchar-booker-cooper-moore-2024-2#vice-president-kamala-harris-1">by</a> Business Insider. Vice President Kamala Harris is viewed as a likely successor, having collaborated closely with Biden on a range of issues. However, her 2020 presidential bid failed to resonate with voters, sparking doubts about her electability.
Also Read: <a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one">Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden — Although There&#8217;s One Silver Lining</a>
Gavin Newsom, the governor of California, is another potential contender. Despite calls for Biden to abandon his reelection campaign, Newsom defended Biden&#8217;s performance, describing such discussions as &#8220;unnecessary.&#8221;
Other potential successors include Michigan Governor Gretchen Whitmer, Minnesota Senator Amy Klobuchar, New Jersey Senator Cory Booker, North Carolina Governor Roy Cooper, and Maryland Governor Wes Moore.
Why It Matters: Despite the ongoing speculation, it remains unlikely that Biden will exit the race, as he is the only Democrat to have defeated Trump to date. 
If Biden were to step aside, the Democratic National Convention, scheduled to take place in Chicago this August, would be tasked with selecting a new nominee.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39241154/trump-vs-biden-hush-money-conviction-signals-good-news-for-one-candidate-in-tight-presidential-race" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: Hush-Money Conviction Signals Good News For One Candidate In Tight Presidential Race</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

These Are The Top Democratic Contenders Who Could Succeed Biden If President Were To Bow Out Of

If re-elected in November, <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> would reportedly withdraw the United States from the <a href="https://www.benzinga.com/topic/climate-change" target="_blank" rel="noreferrer noopener">Paris climate accord for the second time.</a>
Politico <a href="https://www.politico.com/news/2024/06/28/trump-paris-climate-treaty-withdrawal-again-00165903" target="_blank" rel="noreferrer noopener">reported</a>, citing a campaign spokesperson, that conservatives have spent years preparing for Trump&#8217;s withdrawal from the global agreement aimed at reducing greenhouse gas emissions.
After years of groundwork by conservatives, including drafting executive orders, Trump is poised to withdraw from the global climate agreement if re-elected, a lawyer familiar with the process told Politico.
One of these measures is a draft order that could potentially withdraw the United States from the entire United Nations framework supporting global climate negotiations, a move with significant implications for efforts to mitigate global warming.
On Friday, Trump campaign national press secretary Karoline Leavitt confirmed that if asked, Trump would repeat his decision to withdraw the United States from the landmark climate agreement, stating, &#8220;Yes, he has said that,&#8221; the report noted.
Trump&#8217;s intention to withdraw from the Paris accord isn&#8217;t unexpected, following his previous withdrawal and lobbying efforts by conservatives. During a recent debate with President <a target="_blank" href="https://www.benzinga.com/topic/joe-biden" rel="noreferrer noopener">Joe Biden</a> in Atlanta, Trump criticized the agreement as &#8220;a rip-off of the United States&#8221; and &#8220;a disaster.&#8221;
Industry lawyers have reportedly been drafting various executive orders on energy policies for Trump to potentially sign, the report added, citing sources familiar with the effort.
The Paris Agreement is &#8220;a bad deal for the United States,&#8221; said Mandy Gunasekara, the EPA head of staff during the Trump administration and writer of Project 2025&#8217;s energy and environmental provisions. 
&#8220;It does little to meaningfully reduce emissions. It&#8217;s been used to justify onerous regulations that make energy more expensive,&#8221; Politico added.
Given its significant funding role, the U.S.&#8217; departure would hinder the UNFCCC&#8217;s (United Nations Framework Convention on Climate Change) operations. It could also pose considerable challenges for a future president seeking to rejoin the Paris Agreement.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/06/39563622/is-kamala-harris-the-answer-to-joe-bidens-shortcomings-poll-hints-at-voter-sentiment-toward-poss"> Is Kamala Harris The Answer To Joe Biden&#8217;s Shortcomings? Poll Hints At Voter Sentiment Toward Possible Replacement Candidate</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Trump Campaign Signals Intent To Withdraw US From Paris Climate Accord Again: Report

During the recent presidential debate between <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump </a>and <a href="https://www.benzinga.com/topic/joe-biden" target="_blank" rel="noreferrer noopener">Joe Biden</a>, the president sought to showcase his preparedness for another term in office, <a href="https://www.benzinga.com/news/24/06/39562453/us-allies-urge-biden-to-step-down-after-disastrous-debate-performance-important-to-manage-ones-ride" target="_blank" rel="noreferrer noopener">addressing the high expectations of the American public</a>.
However, a recent <a href="https://www.nytimes.com/2024/06/28/opinion/biden-election-debate-trump.html" target="_blank" rel="noreferrer noopener">op-ed</a> by The New York Times&#8217; editorial board points out how Biden has noticeably changed since the start of his first term. 
The president faced challenges articulating his second-term agenda, countering Trump&#8217;s provocations, and holding him accountable for falsehoods and concerning proposals. Multiple times, he struggled to complete sentences, the board wrote. 
Following the debate, Poland&#8217;s top diplomat,&nbsp;Radoslaw Sikorski, compared Biden and the last of the &#8220;five good emperors&#8221; of ancient Rome, who made a detrimental decision in his final years, leading to civil war.
&#8220;It&#8217;s important to manage one&#8217;s ride into the sunset,&#8221; Sikorski <a href="https://x.com/sikorskiradek/status/1806597637740576910" target="_blank" rel="noreferrer noopener">said</a> in a post on X on Friday. 
Calls For A Fresh Face
Polls and interviews indicate voters are eager for new voices to challenge Trump. Biden&#8217;s supporters are finding solace in the possibility of rallying behind an alternative candidate.
The editorial board added that, unlike in many democracies, where campaigns last a few months, U.S. presidential elections are multiyear endeavors, so there is still time for a fresh face.
The most straightforward strategy for Democrats to defeat Trump is to recognize that Biden may not be able to continue his campaign and establish a process to nominate a more capable candidate to challenge Trump in November.
It represents the optimal opportunity to safeguard the nation&#8217;s spirit — the driving force that prompted Biden to pursue the presidency in 2019.
Moreover, it constitutes the highest form of service Biden can render to a country he has steadfastly served over many years, The New York Times added.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39563559/investors-predict-impact-of-potential-trump-presidency-on-markets-the-market-is-already-priced-f">Investors Predict Impact Of Potential Trump Presidency On Markets: &#8216;The Market Is Already Priced For That To Happen&#8217;</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

New York Times Calls For Joe Biden To Withdraw From Presidential Race

The U.S. Department of Justice (DOJ) recently announced a 10-count indictment against Los Angeles-based associates of Mexico's <a href="https://www.benzinga.com/markets/cannabis/23/10/35294836/el-chapo-behind-bars-but-still-in-power-orders-sons-to-quit-fentanyl-trade-to-the-us">Sinaloa drug cartel</a>, which is run by the sons of <a href="https://www.benzinga.com/markets/cannabis/23/01/30516394/el-chapo-wants-to-serve-his-sentence-at-home-does-mexico-have-a-prison-secure-enough-to-hold-him">Joaquin &#8220;El Chapo&#8221; Guzmán</a>, who is serving a <a href="https://www.benzinga.com/markets/cannabis/23/01/30516394/el-chapo-wants-to-serve-his-sentence-at-home-does-mexico-have-a-prison-secure-enough-to-hold-him" target="_blank" rel="noreferrer noopener">life sentence </a>in a supermax prison in Colorado.
These associates are being charged with conspiracy to launder over $50 million in drug-trafficking proceeds through Chinese underground banking networks. The multi-year investigation, dubbed "Operation Fortune Runner," led to the indictment of 24 defendants.
The Sinaloa Cartel and Chinese operatives, according to the DEA, are involved in <a href="https://www.benzinga.com/markets/cannabis/24/01/36707665/dea-seizes-largest-amount-of-fentanyl-in-its-history-386m-lethal-doses-enough-to-kill-every-amer">smuggling</a> <a href="https://www.benzinga.com/markets/cannabis/24/01/36707665/dea-seizes-largest-amount-of-fentanyl-in-its-history-386m-lethal-doses-enough-to-kill-every-amer">massive amounts of fentanyl</a> into the U.S, with the Chinese supplying precursor chemicals to make it and cartel operatives producing it in Mexico.
"The Sinaloa Cartel is largely responsible for the massive influx of fentanyl into the United States over the past approximately eight years, and for the accompanying violence and deaths that have afflicted communities on both sides of the border," a <a href="https://www.dea.gov/press-releases/2024/06/18/federal-indictment-alleges-alliance-between-sinaloa-cartel-and-money">DEA press release</a> noted.
According to the indictment, a Sinaloa Cartel-linked money laundering network collected and processed large amounts of drug proceeds in U.S. currency in Los Angeles. This was done with the help of a California-based money transmitting group linked to Chinese underground banking. The proceeds were allegedly concealed and made accessible to cartel members in Mexico and elsewhere.
"Drug traffickers generate immense amounts of cash through their illicit operations. This case is a prime example of Chinese money launderers working hand in hand with drug traffickers to try to legitimize profits generated by drug activities," said Guy Ficco, IRS criminal investigation chief.
Related news: <a href="https://www.benzinga.com/markets/cannabis/24/05/38596342/gop-senators-slam-cannabis-banking-reform-cartel-cash-and-oklahoma-at-chinese-money-laundering-s">GOP Senators Slam Cannabis Banking Reform, &#8216;Cartel Cash&#8217; And Oklahoma At Chinese Money Laundering Summit</a>
The lead defendant, Edgar Joel Martinez-Reyes, 45, of East Los Angeles, and others allegedly employed various methods to hide the money's source, including trade-based money laundering, structuring assets to avoid federal financial reporting requirements and purchasing <a href="https://www.benzinga.com/crypto">cryptocurrency</a>.
Martin Estrada, the U.S. Attorney for the Central District of California, referred to the destructive impact of drugs like fentanyl and methamphetamine and the need to target international criminal syndicates laundering drug money. 
"As this indictment and our international actions show, we will be dogged in our pursuit of all those who facilitate destruction in our country and make sure they are held accountable for their actions," Estrada said.
Now read: <a href="https://www.benzinga.com/markets/cannabis/24/06/39559399/new-mexicos-dark-discovery-chinese-workers-trapped-on-illegal-cannabis-farms">New Mexico&#8217;s Dark Discovery: Chinese Workers Trapped On Illegal Cannabis Farms</a>
Photo courtesy of U.S. Customs and Border Protection

Cannabis

Government

DEA Indicts LA-Based Sinaloa Cartel Members For Laundering $50M In Drug Money Via Underground Chinese Networks

In the aftermath of the initial 2024 presidential debate, a recent poll reveals a decline in voters&#8217; confidence in President Joe Biden&#8216;s mental and physical fitness. The poll also suggests that Republican candidate Donald Trump was perceived to<a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one"> have outperformed Biden during the debate.</a>
What Happened An Ipsos <a href="https://www.ipsos.com/en-us/538-ipsos-june-2024-presidential-debate-poll">poll</a> conducted before and after the debate showed that less than half of the viewers rated Trump's performance as good or excellent.
However, three out of five viewers believed Trump outshone Biden. Confidence in Biden&#8217;s fitness to serve as president saw a significant decline, particularly among Democrats, dropping from 27% pre-debate to 20% post-debate.
Despite Biden&#8217;s underwhelming performance, a significant number of likely voters reported that they are still likely to consider voting for Biden. 
Among respondents who completed both the pre- and post-debate survey, only 4% are giving less consideration to voting for Biden, compared to 2% for Trump.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39243266/ex-colleagues-of-judge-in-donald-trumps-hush-money-case-say-former-president-will-most-likely-face-t" target="_blank" rel="noreferrer noopener">Ex-Colleagues Of Judge In Donald Trump's Hush-Money Case Say Former President Will Most Likely Face This Sentence</a>
An Ipsos focus group conducted immediately after the debate with six undecided voters found that, while Biden clearly lost the debate, Trump didn&#8217;t necessarily win it.
The group also noted that the debate did a mixed job at covering a range of topics, with a plurality rating the performance of the moderators as about average.
Why It Matters: The results of the poll are significant as they reflect the public&#8217;s perception of the candidates&#8217; performance in the first 2024 presidential debate. The decline in the confidence in Biden&#8217;s fitness, especially among Democrats, could potentially impact his chances in the upcoming election.
However, the fact that a significant number of likely voters are still considering voting for Biden despite his performance in the debate indicates that the race for the presidency is far from over. 
The perception that Trump outperformed Biden, despite less than half of viewers rating his performance as good or excellent, suggests that the public&#8217;s expectations for the candidates may play a significant role in determining the outcome of the election.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti" target="_blank" rel="noreferrer noopener">Following Trump's Guilty Verdict, Legal Experts Say He Could Face This Punishment Instead Of Prison Time</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Biden Widely Criticized Over Debate Performance, But Poll Also Points To Concerning Signs For Trump

During an episode of the personal finance help show, The <a href="https://www.benzinga.com/personal-finance/24/06/39509101/dave-ramsey-calls-out-the-bad-life-plan-many-americans-consider-as-retirement-nowadays-save-enou">Dave Ramsey</a> Show, the show host and celebrated finance guru, Dave Ramsey, received a call from a woman who decided to change her finances. She called for advice and left with an unexpected gift from Ramsey.&nbsp;
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<li>Miami is expected to take New York's place as the U.S. Financial Capital.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Here's how you can invest in the city before that happens</a>.</li>
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The episode started with caller Tasia, who revealed to Ramsey that she had found his page on the TikTok social media app, which gave her the push she needed to start working her way out of debt. Tasia told Ramsey that she started her emergency fund, which Ramsey and his team have been teaching people to do. According to Ramsey Solutions, a starter emergency fund should have at least $1,000 as a temporary buffer, while a fully-funded emergency fund should save at least 3-6 months of expenses.
In addition to creating an emergency fund, Tasia told Ramsey that his advice helped her avoid overdrafting any accounts. Tasia revealed that she had been overdrafting her bank accounts her whole life, so this was a significant achievement for her, and Ramsey agreed. He told her, "This is a breakthrough, isn't it, kid? Way to go."&nbsp;
When it comes to overdraft, Tasia isn't alone. U.S. Sen. Bob Casey sent a news release in April this year slamming <a href="https://www.benzinga.com/markets/equities/24/06/39513681/fed-stress-test-2024-large-banks-face-greater-losses-but-maintain-strong-capital-positions-in-se">large corporate banks</a> for profiting from excessive overdraft fees. In his statement, Casey wrote, "Roughly 23 million households pay overdraft fees each year" and that "26 percent of Americans reside in a household that faced an overdraft fee or non-sufficient fund fee in the last year." Casey revealed that American families are struggling to make ends meet, and more are going into overdraft. According to ABC News, Americans paid a whopping $9 billion in overdraft fees last year, with banks charging around $35 per transaction in overdraft. Currently, lawmakers are in the process of passing a rule to try and cut these overdraft fees.&nbsp;
Trending: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?
Now that Tasia has managed to get herself out of overdraft, she can focus on growing her savings account. She told Ramsey that with her three jobs combined, she earns $90,000 annually and has around $30,000 still in debt, with half that amount being student loans. Ramsey told her, "You're ready to go. You're ready to try new stuff because you're sick and tired of being sick and tired." Ramsey also told Tasia that he was proud of her and then revealed his gift to her: a paid 9-week Financial Peace University class and paid access to the EveryDollar budgeting app. Ramsey explained that he's gifting her this experience because she is the reason why he does the show. He explained, "People that are like you, that have for the first time in your whole adult life, you're not doing overdraft because we taught you something," and added, "Now, we're going to teach you how to get rid of this debt." Ramsey told Tasia he would teach her how to be a millionaire.&nbsp;
When Ramsey had finished telling Tasia his gift to her, she was in tears at the unexpected gesture and told him, "This has been my dream to talk to you." Ramsey told Tasia that he would help her take control of her money instead of wondering where it went, giving her the tools to make sound financial decisions. With Ramsey Solutions, Tasia will learn how to use the snowball method of paying off her debts, from smallest to largest. Ramsey promised that if she follows this advice and stays out of restaurants with no vacations, she would be 100% debt-free by next year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Read Next:
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<li>No generation before Gen Z has had this investment opportunity &#8211;<a href="https://www.benzinga.com/money/retiring-at-30-adv"> How successful Zoomers plan to retire in their 30's</a>.</li>
<li>This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.</li>
</ul>

Woman Working 3 Jobs Struggling With A Lifetime Of Overdrafts Receives An Unexpected Gift From Dave Ramsey, Bringing Her To Tears

Following <a target="_blank" href="https://www.benzinga.com/topic/joe-biden" rel="noreferrer noopener">Joe Biden&#8217;s</a> stumbling debate performance, Democrats are reportedly in a state of panic, with some exploring alternatives to <a target="_blank" href="https://www.theguardian.com/us-news/article/2024/jun/29/kamala-harris-joe-biden-trump" rel="noreferrer noopener">replace the 81-year-old as their presidential candidate.</a>
Despite Biden&#8217;s campaign dismissing such suggestions, critics continue to openly question his ability to effectively challenge <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a>, whom they perceive as a significant threat to American democracy, <a href="https://www.theguardian.com/us-news/article/2024/jun/29/kamala-harris-joe-biden-trump">reported</a> The Guardian.
Check This Out: <a target="_blank" href="https://www.benzinga.com/general/politics/24/06/39558557/kamala-harris-defends-bidens-slow-start-at-debate-with-strong-finish-clinton-newsom-obama-race-t" rel="noreferrer noopener">Kamala Harris Defends Biden&#8217;s &#8216;Slow Start&#8217; At Debate With &#8216;Strong Finish&#8217;: Clinton, Newsom, Obama Race To Support President</a>
If Biden chooses not to run, his 59-year-old vice president and running mate, <a target="_blank" href="https://www.benzinga.com/topic/kamala-harris" rel="noreferrer noopener">Kamala Harris</a>, would be a natural successor.
However, her candidacy would face challenges, as she has encountered low approval ratings and would likely face competition from other candidates for the nomination.
Over the past three-and-a-half years, Kamala Harris&#8217; historic vice presidency has been a divisive issue among Democrats.
Negative media coverage, including some stemming from her own actions, sexist and racist criticisms, and a complex policy portfolio have influenced public opinion of the former California senator.
Currently, approximately 50% of voters hold an unfavorable view of Harris, according to FiveThirtyEight&#8217;s polling average, which is similar to the roughly 40% who view her favorably, reflecting figures comparable to Biden&#8217;s ratings, the report added.
Harris&#8217; staunch defense of abortion rights, a vital issue for Democrats, contrasts sharply with Biden&#8217;s recent debate stumble.
Following Thursday&#8217;s debate this week, where Biden awkwardly pivoted from attacking Trump on abortion bans to discussing immigration and a murder case in Georgia, Harris was quick to support him in subsequent CNN and MSNBC interviews.
She emphasized voters should consider Biden&#8217;s broader accomplishments over the past three-and-a-half years, acknowledging a slow start but asserting he finished strongly.
&#8220;I&#8217;m talking about the choice for November,&#8221; she said on <a target="_blank" href="https://edition.cnn.com/2024/06/28/politics/video/kamala-harris-biden-trump-cnn-debate-digvid" rel="noreferrer noopener">CNN</a>. &#8220;I&#8217;m talking about one of the most important elections in our collective lifetime.&#8221;
Biden&#8217;s age has always posed an electoral challenge, but his shaky debate performance surprised even his most loyal supporters. Speaking at a rally on Friday, Biden admitted his mistakes but maintained he remained the strongest candidate to defeat Trump.
Mounting concerns about Biden&#8217;s mental sharpness have intensified scrutiny of Harris, especially from the right. Republicans have portrayed Harris as a looming threat, with <a href="https://www.benzinga.com/topic/nikki-haley" target="_blank" rel="noreferrer noopener">Nikki Haley </a>cautioning during the GOP primary that voting for Biden meant endorsing &#8220;a President Harris,&#8221; The Guardian added.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/general/politics/24/06/39563409/heres-how-many-people-watched-the-2024-presidential-debate-and-how-fox-beat-cnn-at-its-own-game">Here&#8217;s How Many People Watched The 2024 Presidential Debate And How Fox Beat CNN At Its Own Game</a>
Photo: Shutterstock

Is Kamala Harris The Answer To Joe Biden's Shortcomings? Poll Hints At Voter Sentiment Toward Possible Replacement Candidate

As the week comes to a close, the world of finance and cryptocurrency has been anything but quiet. From former President Donald Trump&#8216;s potential crypto fortune to the introduction of a bill allowing federal tax payments in Bitcoin, the news cycle has been buzzing with intriguing developments. Here&#8217;s a quick recap of the top stories that made headlines.
Trump&#8217;s Crypto Fortune Former President Donald Trump finds himself in the spotlight once again, this time in the realm of cryptocurrency. His digital wallet holds over half a million TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MAGA</a>) tokens, leading to speculation about the value of his holdings. The tokens were allocated to Trump&#8217;s wallet as part of a marketing scheme by MAGA, the first project to do so. <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39477411/heres-how-much-profit-donald-trump-would-make-if-he-sold-his-trump-memecoin-today">Read the full article here.</a>
Federal Tax Payments in Bitcoin Congressman Matt Gaetz (R-Fla.) has proposed a bill that would allow federal income tax payments to be made in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). The legislation aims to amend the Internal Revenue Code of 1986, offering taxpayers a new way to settle their federal tax liabilities. <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39487764/congressman-matt-gaetz-introduces-bill-to-allow-federal-tax-payments-in-bitcoin">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39487764/congressman-matt-gaetz-introduces-bill-to-allow-federal-tax-payments-in-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Congressman Matt Gaetz Introduces Bill To Allow Federal Tax Payments In Bitcoin</a>
Crypto Analyst&#8217;s Take on Memecoins Cryptocurrency analyst Michaël van de Poppe recently shared his views on meme coins, such as Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) and more. Despite their popularity, he expressed a general dislike for them, criticizing celebrities who leverage their following to start meme coins for financial gain. <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39449491/noted-crypto-analyst-flags-three-memecoins-with-potential-of-high-returns-in-the-future-cr">Read the full article here.</a>
Ark Invest&#8217;s Big Moves Cathie Wood&#8217;s Ark Invest made significant trades in Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), amidst a volatile market. The firm acquired $7.3 million worth of shares in Roku Inc., a promising Netflix competitor. <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39516711/cathie-woods-ark-invest-acquires-7-3m-worth-of-shares-in-this-promising-netflix-competitor">Read the full article here.</a>
US Government&#8217;s Bitcoin Transfer Wallets believed to be linked to the U.S. government have transferred a significant amount of cryptocurrency—3,940 Bitcoin valued at $241 million—onto Coinbase. This move comes shortly after a similar transfer by the German government. <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39511595/uncle-sam-on-the-move-us-government-transfers-millions-in-bitcoin-to-coinbase">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39516076/bitcoin-ethereum-dogecoin-retrace-on-fears-of-240m-sale-by-us-government-king-crypto-shoul?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Retrace On Fears Of $240M Sale By US Government: King Crypto Should Reclaim</a>
Bitcoin illustration via Shutterstock.

$DOGE

$MAGA

$SHIB

COIN

MAGA

ROKU

Trump's Crypto Fortune, Proposal For Bill Allowing Federal Tax Payments In Bitcoin, And More: Crypto Weekly Round-Up

New Jersey authorities have decided not to renew the liquor licenses for two golf courses owned by former President Donald Trump, following <a href="https://www.benzinga.com/news/24/06/39243266/ex-colleagues-of-judge-in-donald-trumps-hush-money-case-say-former-president-will-most-likely-face-t">his felony hush-money conviction.</a>
What Happened: According <a href="https://www.businessinsider.com/nj-pull-trump-golf-liquor-licenses-for-hush-money-felonies-2024-6">to</a> Business Insider, the licenses for Trump National Bedminster and Trump National Golf Club in Colts Neck will not be renewed due to Trump&#8217;s recent felony record.
The golf clubs can continue to serve alcohol until a hearing scheduled for July 19. The licenses are set to expire on Sunday.
Despite the licenses being in the name of his son Donald Trump, Jr., Trump maintains a direct beneficial interest in them as the sole beneficiary of the Donald J. Trump Revocable Trust.
The state attorney general&#8217;s office clarified that only after the sentencing, scheduled for July 11, can any New Jersey official disqualify Trump from holding a liquor license.
Also Read: <a href="https://www.benzinga.com/news/24/06/39445340/trump-is-raising-enough-money-to-wipe-out-bidens-once-significant-cash-advantage">Trump Is Raising Enough Money To Wipe Out Biden&#8217;s Once Significant Cash Advantage</a>
According to state liquor law, a license can be revoked if anyone who either owns or financially benefits from the license is convicted of a crime of &#8220;moral turpitude.&#8221; Given Trump&#8217;s financial interest in the clubs and his new criminal record, the licenses were at risk.
&#8220;Felony convictions are universally considered crimes of moral turpitude,&#8221; stated Peter M. Rhodes, a partner at the Haddonfield, New Jersey-based firm Cahill, Wilinski, Rhodes &amp; Joyce, according to Business Insider. 
Why It Matters: This isn&#8217;t the first time Trump&#8217;s New Jersey licenses have been threatened. In 2021, following a fatal drunken driving crash at one of his clubs, Trump narrowly escaped losing his licenses. 
They were retained under a settlement with the then Attorney General Gurbir S. Grewal. The recent decision to revoke the licenses could have significant implications for the operation of the golf clubs.
Now Read: <a href="https://www.benzinga.com/news/24/04/38133891/donald-trump-says-it-would-be-a-great-honor-if-he-were-jailed-for-breaching-gag-order-i-will-gladly">Donald Trump Says It Would Be A &#8216;Great Honor&#8217; If He Were Jailed For Breaching Gag Order: &#8216;I Will Gladly Become A Modern Day Nelson Mandela&#8217;</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Legal

Trump's Felony Conviction Could Leave His Golf Courses Dry, NJ Set To Revoke Liquor Licenses

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Vontier (NYSE:<a href="https://investorplace.com/stock-quotes/vnt-stock-quote/">VNT</a>) just reported results for the first quarter of 2024.<ul><li>Vontier reported earnings per share of 74 cents. This was above the analyst estimate for EPS of 70 cents.</li><li>The company reported revenue of $755.80 million.</li><li>This was 0.25% better than the analyst estimate for revenue of $753.90 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/vnt-stock-earnings-vontier-for-q1-of-2024/">VNT Stock Earnings: Vontier Beats EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

VNT Stock Earnings: Vontier Beats EPS, Beats Revenue for Q1 2024

Vontier Corporation (VNT) Q1 2024 Earnings Call Transcript

Vontier (VNT – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Joe Ritchie from Goldman ...

Vontier: A Balanced Hold Recommendation Amid Modest Overperformance and Cautious Optimism

In a report released today, Julian Mitchell from Barclays maintained a Buy rating on Vontier (VNT – Research Report), with a price target of $50.00...

Vontier (VNT) Gets a Buy from Barclays

Vontier (VNT) has provided an announcement. Vontier Corporation's Board of Directors is expanding from nine to ten members with the addition of Mr....

Vontier Board Expands with New Independent Director

IYJ: Industrials Dashboard For May

Vontier declares $0.025 dividend

Barclays analyst Julian Mitchell maintained a Buy rating on Vontier (VNT – Research Report) today and set a price target of $50.00. The company's s...

Barclays Sticks to Its Buy Rating for Vontier (VNT)

PSCI: Industrial Sector Dashboard For June

The industrial sector is poised for robust growth driven by strong demand, rapid technological innovation, and increasing efficiency. Hence, it could be wise to add undervalued industrial stocks Flowserve (FLS), Vontier (VNT), and Ryder System (R) to one's watchlist. Read more... The industrial sector encompasses various segments including industrial machinery, industrial construction material, industrial services, and industrial equipment catering to a wide variety of end-user industries and contributing to economic development.
Thus, against this backdrop, it could be wise to watch fundamentally sound industrial stocks Flowserve Corporation (<a href="https://stocknews.com/stock/FLS/">FLS</a>), Vontier Corporation (<a href="https://stocknews.com/stock/VNT/">VNT</a>), and Ryder System, Inc. (<a href="https://stocknews.com/stock/R/">R</a>), which are trading at a discount.
Fueled by the increasing adoption of automation and smart technologies significantly improving productivity and efficiency, the global industrial machinery market is flourishing. The market is expected to grow at a <a href="https://www.gminsights.com/industry-analysis/industrial-machinery-market">CAGR of 7.5%</a>, resulting in a market value of $1.30 trillion by 2032.
Also, with digital transformation, the <a href="https://www.marketsandmarkets.com/Market-Reports/industrial-services-market-209335409.html">industrial services industry</a> is evolving rapidly with the adoption of industry 4.0 technologies like IoT (Internet of Things), AI (Artificial Intelligence), and automation.
Moreover, activities like exploration and refining of oil and gas, together with massive industrialization and urbanization, have led to revolution in various industries, including automobile, pharmaceutical, telecommunication, and manufacturing, resulting in the development and demand of <a href="https://www.mordorintelligence.com/industry-reports/industrial-static-equipment-market">industrial static equipment market</a>.
Given the industry's robust outlook, investing in quality industrial stocks such as FLS, VNT, and R could be wise for future gains.
Flowserve Corporation (<a href="https://stocknews.com/stock/FLS/">FLS</a>)
FLS designs, manufactures, distributes, and services industrial flow management equipment internationally. It operates in Flowserve Pump Division; and Flow Control Division segments. The company offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services.
In terms of forward Price/Sales, FLS is trading at 1.39x, 3% lower than the industry average of 1.43x. Similarly, the stock's forward EV/EBIT multiple of 13.98 is 9.2% lower than the industry average of 15.40. Also, its forward EV/Sales of 1.58x is 10.3% lower than the industry average of 1.76x.
On June 10, FLS and Heide Refinery, Germany's northernmost crude oil refinery and chemicals company, announced their partnership to incorporate Flowserve's Energy Advantage Program to accelerate Heide Refinery's momentum in energy efficiency.
The program's first phase estimates 2,000 MWh power consumption reduction potential, leading to 1,300 metric tons CO2 savings and aligns with their efforts to reduce carbon emissions.
On May 21, FLS' Board of Directors authorized a quarterly cash dividend of $0.21 per share on the company's outstanding shares of common stock.
FLS pays an annual dividend of $0.84, which translates to a yield of 1.74% at the current share price. Its four-year average dividend yield is 2.29%. Additionally, the company's dividend payouts have increased at a CAGR of 1.3% over the past five years.
FLS' sales increased 10.9% year-over-year to $1.09 billion during the first quarter that ended March 31, 2024, and its adjusted gross profit grew 15.6% from the year-ago value to $344.64 million. Its adjusted operating income of $118.25 million indicates growth of 45.5% from the prior year's quarter.
Furthermore, adjusted net earnings came in at $77.39 million and $0.58 per share, up 47% and 45% year-over-year, respectively.
Analysts expect FLS' revenue for the second quarter (ending June 2024) to increase 4.5% year-over-year to $1.13 billion and its <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> for the same quarter is expected to grow 21.7% year-over-year to $0.63. Furthermore, the company topped the consensus revenue and EPS estimates in all of the trailing four quarters.
Shares of FLS have surged 13.9% over the past six months and 33.5% over the past year to close the last trading session at $47.54.
FLS' <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this solid outlook. The stock has an overall rating of A which translates to a Strong Buy in our proprietary rating system.  The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
FLS has a B grade for Growth, Sentiment, and Value. It is ranked #8 out of 79 stocks in the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry.
In addition to the POWR Ratings we've stated above, we also have other ratings of FLS for Momentum, Stability, and Quality. Get all FLS ratings <a href="https://stocknews.com/stock/FLS/">here</a>.
Vontier Corporation (<a href="https://stocknews.com/stock/VNT/">VNT</a>)
VNT provides mobility ecosystem solutions globally. The company operates through Mobility Technologies; Repair Solutions; and Environmental and Fueling Solutions segments.
In terms of forward EV/Sales, VNT is trading at 2.54x, 12.7% lower than the industry average of 2.91x. Similarly, the stock's forward EV/EBIT multiple of 11.64 is 42.3% lower than the industry average of 20.20. Further, its forward Price/Sales of 1.92x is 32.6% lower than the industry average of 2.86x.
On May 24, VNT's Board of Directors declared a regular quarterly cash dividend of $0.025 per share payable on June 27, 2024, to stockholders of record on June 6, 2024.
VNT pays an annual dividend of $0.10, which translates to a yield of 0.26% at the prevailing share price. Its four-year average dividend yield is 0.26%. Moreover, the company's dividend payouts have increased at a CAGR of 58.7% over the past three years.
During the first quarter that ended March 31, 2024, VNT posted sales of $755.80 million. Its adjusted operating profit grew 3.4% from the year-ago value to $142.10 million. The company's net earnings came in at $136.80 million and $0.88 per share, indicating growths of 65.2% and 66% from the year-ago value, respectively.
In addition, the company's adjusted free cash flow grew marginally from the year-ago value to $78.20 million.
Street expects VNT's EPS and revenue for the third quarter (ending September 2024) to increase 7.7% and marginally year-over-year to $0.79 and $767.82 million. Furthermore, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Over the past six months, VNT's stock has gained 10.3% and 25.2% over the past year to close the last trading session at $38.27.
VNT's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
The stock has a B grade for Stability, Value, and Quality. Within the <a href="https://stocknews.com/category/industrial-equipment/">Industrial - Equipment</a> industry, VNT is ranked #5 of 86 stocks.
<a href="https://stocknews.com/stock/VNT/">Click here</a> to access additional ratings of VNT for Momentum, Sentiment, and Growth.
Ryder System, Inc. (<a href="https://stocknews.com/stock/R/">R</a>)
R operates as a logistics and transportation company internationally. The company operates through three segments: Fleet Management Solutions; Supply Chain Solutions; and Dedicated Transportation Solutions. It provides full-service leasing and leasing with flexible maintenance options, commercial vehicle rental services, and contract or transactional maintenance services.
In terms of forward non-GAAP P/E, R is trading at 10.34x, 43.9% lower than the industry average of 18.44x. Likewise, the stock's forward EV/Sales multiple of 1.06 is 39.9% lower than the industry average of 1.76. Also, its forward Price/Sales of 0.41x is 71% lower than the industry average of 1.43x.
On May 4, R's Board of Directors declared a regular quarterly cash dividend of $0.71 per share of common stock paid on June 21, 2024 to shareholders of record on May 20, 2024.
R pays an annual dividend of $2.84, which translates to a yield of 2.28% at the current share price. Its four-year average dividend yield is 3.06%. Moreover, the company's dividend payouts have increased at a CAGR of 11.9% over the past five years.
For the first quarter that ended March 31, 2024, R's total revenue increased 4.9% year-over-year to $3.10 billion and its operating income grew 6.3% from the year-ago value to $2.49 billion. Its net earnings came in at $85 million and $1.89 per share, respectively.
Also, the company's comparable EBITDA increased 1.3% from the prior year's quarter to $636 million.
As per the company's forecast, R expects EPS from continuing operations of $2.58 - $2.78 for the second quarter. Also, for the full year, the company expects EPS from continuing operations between $10.95 and $11.70.
Analysts expect R's EPS for the fourth quarter (ending December 2024) to increase 20% year-over-year to $3.54 and its revenue for the same period is expected to grow 14.5% year-over-year to $3.46 billion. Moreover, the company surpassed the consensus EPS estimates in all of the trailing four quarters.
R's stock has surged 5.2% over the past six months and 49.7% over the past year to close the last trading session at $124.60.
R's POWR Ratings reflect its bright prospects. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
R has an A grade for Growth and a B grade for Momentum, Sentiment, and Value. The stock is ranked #9 among 77 stocks in the B-rated <a href="https://stocknews.com/category/industrial-services/">Industrial - Services</a> industry.
To access R's other ratings for Quality, and Stability, <a href="https://stocknews.com/stock/R/">click here</a>.
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FLS shares were trading at $47.41 per share on Wednesday afternoon, down $0.74 (-1.54%). Year-to-date, FLS has gained 15.55%, versus a 15.25% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/fls-vnt-r-3-undervalued-industrial-stocks-to-watch/>3 Undervalued Industrial Stocks to Watch</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>


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Lois FrankelHouse (D-FL)	$1K - $15K	Purchase	Jun 09, 2022	Apr 25, 2022	House

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