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McRae Industries

McRae Industries Inc operates in the footwear industry. Its principal lines of business are manufacturing and selling military combat boots and importing and selling western and work boots. It operates through the Western and Lifestyle Segments. The Western and Lifestyle segment, which is the key revenue driver, includes western, ladies fashion, and children's footwear products under the Dan Post, Dingo, and Laredo Western Boots brand names.

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McRae Industries Inc

Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) shares are in the spotlight Thursday ahead of earnings after the bell. Here&#8217;s what you need to know <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39821442/netflix-q2-earnings-preview-can-ad-supported-growth-new-releases-sustain-investor-h">ahead of the report</a>.
What To Know: Netflix is due to kick off big tech earnings season after the bell on Thursday. Analysts are looking for earnings of $4.74 per share and revenue of $9.528 billion, according to estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
Last quarter, Netflix delivered <a href="https://www.benzinga.com/news/earnings/24/04/38324337/netflix-q1-earnings-highlights-revenue-beat-eps-beat-9-33-million-paid-subs-added-ad-tier-plan-upda#">revenue of $9.37 billion</a>, beating estimates of $9.275 billion. The company also beat EPS estimates, turning in earnings of $5.28 per share versus estimates of $4.51 per share. The company guided for&nbsp;second-quarter&nbsp;revenue of&nbsp;$9.49 billion&nbsp;and earnings of&nbsp;$4.68 per share. 
The company added 9.33 million paid net new subscribers in the&nbsp;first quarter, bringing total paid subscribers up to 269.6 million. Netflix noted that it expected paid net additions to be lower in the second quarter versus the first quarter due to typical seasonality.
Check This Out: <a href="https://www.benzinga.com/general/entertainment/24/07/39824649/stranger-things-creators-have-new-show-coming-to-netflix-what-fans-should-know">&#8216;Stranger Things&#8217; Creators Have New Show Coming To Netflix: What Fans Should Know</a>
Here&#8217;s a look at analyst updates in recent weeks leading up to earnings:
<ul>
<li>TD Cowen analyst John Blackledge maintained Netflix with a Buy and raised the price target from&nbsp;$725&nbsp;to&nbsp;$775.</li>
</ul>
<ul>
<li>Keybanc analyst Justin Patterson maintained Netflix with an <a href="https://www.benzinga.com/analyst-stock-ratings">Overweight</a> and raised the price target from&nbsp;$707&nbsp;to&nbsp;$735.</li>
</ul>
<ul>
<li>JPMorgan analyst Doug Anmuth maintained Netflix with an Overweight and raised the price target from&nbsp;$650&nbsp;to&nbsp;$750.</li>
</ul>
<ul>
<li>Morgan Stanley analyst Benjamin Swinburne maintained Netflix with an Overweight and raised the price target from&nbsp;$700&nbsp;to&nbsp;$780.</li>
</ul>
<ul>
<li>BofA Securities analyst Jessica Reif Ehrlich maintained Netflix with a Buy and raised the price target from&nbsp;$700&nbsp;to&nbsp;$740.</li>
</ul>
<ul>
<li>Jefferies analyst Andrew Uerkwitz maintained Netflix with a Buy and raised the price target from&nbsp;$655&nbsp;to&nbsp;$780.</li>
</ul>
<ul>
<li>Benchmark analyst Matthew Harrigan maintained Netflix with a Sell and raised the price target from&nbsp;$450&nbsp;to&nbsp;$545.</li>
</ul>
<ul>
<li>Macquarie analyst Tim Nollen reiterated Netflix with an Outperform and maintained&nbsp;a price target of $685.</li>
</ul>
<ul>
<li>Guggenheim analyst Michael Morris maintained Netflix with a Buy and raised the price target from&nbsp;$700&nbsp;to&nbsp;$735.</li>
</ul>
NFLX Price Action: Netflix shares were down 0.79% at $642.34 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
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</ul>
Photo: Shutterstock.

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NFLX

What's Going On With Netflix Stock Thursday?

Vertical farming has existed for over two decades, yet few attempts have achieved profitable commercial production at scale. Benzinga sat down with Daniel Cruz, co-founder and CFO of Sea to Sky Farms, an innovative vertical farming company, to discuss the company&#8217;s future and opportunities <a href="https://www.benzinga.com/topic/farmland">within this sector</a>.
BZ: How would you describe Sea to Sky Farms in an elevator pitch?
Cruz: Sea to Sky Farms aims to be a pure-play vertical farming entity that provides exposure to food security. We&#8217;re acquiring production assets to increase capacity and grow revenues while searching for best-in-class technology for efficient operations.
We&#8217;re a vertically integrated vertical farming company with plans for a future IPO. Our goal is to be a leader in sustainable agriculture, leveraging technology to ensure food security and quality. We&#8217;re focused on building a resilient and profitable business model that can adapt to changing market conditions and consumer demands.
BZ: Can you tell us about your background in finance and how you ventured into indoor farming?
Cruz: I have been involved in mining, energy and technology. I got excited about finance as a teenager and spent the first 12 years of my career as a broker, including eight years at the head office of Canaccord Financial (Canaccord Genuity). During that time, I reviewed thousands of companies planning their IPOs or being publicly traded ventures in the early days. 
Regardless of sector, financing and restructuring these companies taught me that growth requires a strong marriage of operational expertise and leadership with recent capital markets experience. Equally important, companies must have a defined commercial market and the ability to meet growing demand with a disruptive solution.
Sea to Sky's business case was built on these same criteria. I was able to validate that the opportunity in vertical farming is gaining market share in grocery stores and restaurants, normally dominated by traditional operators.
The turning point was COVID-19. Seeing supply chain vulnerabilities and dramatic statistics, such as almost half of all food production being wasted, made me realize the food system needed fixing. Nearly 90% of leafy green produce in Canada is imported, highlighting our dependency on external sources. There&#8217;s huge potential for technology to revolutionize agriculture. 
We need to work together because vertical farming is not about replacing traditional farming but complementing it. With the right technology and collaboration, we can ensure a steady food supply even in adverse conditions.
BZ: What differentiates your company from other vertical farming companies?
Cruz: Our farm, acquired in 2023, has operated for almost five years, giving us substantial knowledge about vertical farming&#8217;s pros and cons. Unlike many other firms still in R&amp;D, we have a history of commercially sold products to retailers and expect profitability this quarter as we are operating at 100% capacity. We understand the challenges and have developed strategies to overcome them, ensuring our operations are efficient and our products meet high-quality standards.
We focus on continuous improvement and innovation, incorporating customer and partner feedback to refine our processes and products. This commitment to excellence sets us apart and positions us for long-term success in the competitive vertical farming market.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39819662/bank-of-america-analysts-stick-to-december-rate-cut-prediction-brace-for-election-f">Bank Of America Analysts Stick To December Rate Cut Prediction, Brace For Election-Fueled S&amp;P 500 Turbulence</a>
BZ: What is the current market size, and what opportunities and growth do you project for the next five to 10 years?
Cruz: The global leafy greens market alone is about $100 billion. The market for vertical farming is expected to grow substantially as technology improves and the need for sustainable agriculture becomes more urgent.
Although many people want vertical farming to produce various crops like tomatoes, cucumbers, or even strawberries, proving that we can run a profitable business with leafy greens is crucial. We're actually one of the only technologies in the world that can grow a full head of Romaine lettuce with the root on. Selling lettuce with the roots still attached ensures it remains fresh until it reaches the consumer.
One important point about the opportunity here is highlighted by a United Nations report featured in an article by Wired Magazine last year. The report states that the world&#8217;s broken food system costs about $12.7 trillion annually, roughly 10% of the global GDP. 
Therefore, there is a more significant opportunity than people realize, not only in producing lettuce but in strategically locating production facilities to create economies of scale in logistics, shipping, and sustainability. This is a long way of defending the leafy green business, which has exciting potential. 
Every restaurant worldwide offers Caesar salads; unfortunately, much of the lettuce used is not as nutritious as it could be. This represents a substantial opportunity to deliver nutritious products.
BZ: How do you plan to address the industry&#8217;s low profit margins, especially given the high domestic labor costs?
Cruz: We&#8217;ve spent years understanding workflow within our farm. Our system has an automated conveyor belt, reducing labor needs, and we&#8217;re focusing on profitability before heavily investing in robotics and automation.
Our growing technology has been developed in collaboration with a former Microsoft senior executive who worked on machine learning, including AI. This technology monitors the crops, optimizing nutrients, water, and lighting. We&#8217;ve spent two to three years working with our partners to evaluate AI and how we can optimize our system with various software and inputs. AI is indeed critical in the entire food supply chain, but for growing specifically, it needs to be implemented at scale to be truly valuable.
Solar panels and geothermal energy solutions are costly, but we're looking for practical ways to integrate green energy. Since sustainability is our core value, we're looking for ways to reduce our carbon footprint.
BZ: Are you looking to grow through strategic partnerships?
Cruz: We&#8217;re working with a greenhouse co-op in Canada and major retailers to diversify supply chains. I cannot mention names, but we're working with some major, world-class retailers that have noticed their weak supply chains.
These partnerships will influence where and when we build our next farms, keeping our products close to the end market. We&#8217;re also exploring opportunities to repurpose existing structures for our technology, reducing capex costs.
BZ: Your big goal is going public. Do you have a timeline for that?
Cruz: We&#8217;re watching the market closely, especially Freight Farms&#8216; upcoming IPO. Based on their performance and market conditions, we might explore going public in 2025, but it depends on economic factors and industry developments.
Going public is a significant milestone, and we want to ensure that we are fully prepared and that the timing is right. We are focused on building a strong and sustainable business that can thrive in the public market.
BZ: Is there anything else you'd like to add for our readers?
Cruz: People need to care about their health; it really starts on your plate. We have proven that, even as a nanocap startup, we could deliver a product to major retailers within the first two years of operation. We achieved Global GAP certification, one of the most stringent and well-known global certifications for food safety.
I believe we&#8217;re in a huge agritech boom cycle that will encompass the world, including the Middle East, and areas affected by climate change. I don&#8217;t see the Middle East having food security without technology, and I don&#8217;t see climate change making it easier for greenhouse and field crop growers. We have to embrace technology.
Regarding upcoming milestones, we are looking to partner, joint venture, or acquire a world-class technology stack that will allow us to fast-track expansion globally. We hope to complete an acquisition over the next 12 months to put us on a global scale and expand within Canada and beyond.
Read Next: 
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Daniel Cruz photo courtesy of Sea To Sky Farms.

Exclusives

Interview

EXCLUSIVE: Sea To Sky Farms Co-Founder — We Are 'Building A Resilient And Profitable Business'

WIIM

LGVN

Longeveron shares are trading lower after the company announced a $9.0 million registered direct offering of 2.2 million shares of its common stock at $4.025 per share.

<a href="https://www.politico.eu/article/microsoft-signs-antitrust-truce-with-ovhcloud/#:~:text=Microsoft%20reached%20an%20agreement%20today,with%20knowledge%20of%20the%20negotiations" title="https://www.politico.eu/article/microsoft-signs-antitrust-truce-with-ovhcloud/#:~:text=Microsoft%20reached%20an%20agreement%20today,with%20knowledge%20of%20the%20negotiations">https://www.politico.eu/article/microsoft-signs-antitrust-truce-with-ovhcloud/#:~:text=Microsoft%20reached%20an%20agreement%20today,with%20knowledge%20of%20the%20negotiations</a>

MSFT

'Microsoft signs antitrust truce with OVHcloud' - POLITICO

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White House Says Have Been Monitoring Threats From Iran When It Comes To Former Administration

Wells Fargo analyst Steven Shaw maintains Pinnacle Finl Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>) with a Overweight and raises the price target from $90 to $100.

Price Target

Analyst Ratings

PNFP

Wells Fargo Maintains Overweight on Pinnacle Finl Partners, Raises Price Target to $100

GE Vernova shares are trading lower following turbine blade damage at the  Vineyard Wind Offshore Wind Farm.

Contracts

Management

Teamsters Says Waste Management Teamsters Overwhelmingly Ratify New Contract; New 5-Year Collective Bargaining Agreement Covers More Than 200 Drivers, Mechanics, & Machine Operators; Waste Management Workers Secure Substantial Pay Raise, Improved Health Care Benefits, Increased Pension Contributions

Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39815191/synchrony-financial-reports-higher-q2-net-interest-income-and-shareholder-returns-drives-positive-o">second-quarter results on Wednesday</a>.
The company posted quarterly net interest income of $4.405 billion, beating the consensus of $4.287 billion. The company reported EPS of $1.55, above the consensus of $1.3, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Loan receivables rose 8% to $102.3 billion, and purchase volume declined 1% to $46.8 billion. Interest and fees on loans increased 10% year over year to $5.3 billion, led by increased average loan receivables.
For FY24, Synchrony said it expects EPS of $7.60 – $7.80 versus $7.25 consensus; this includes the late fee rule implementation date of October 1, 2024, the impact of PPPC primarily in 3Q'24 and 4Q'24, and $1.96 Pets Best gain on sale in 1Q'24.
Synchrony shares fell 0.7% to trade at $51.84 on Thursday.
These analysts made changes to their price targets on Synchrony following the announcement.
<ul>
<li>B of A Securities analyst Mihir Bhatia maintained Synchrony Finl with a Neutral rating, while raising the price target from $51 to $56.</li>
<li>BMO Capital analyst James Fotheringham maintained the stock with a Market Perform rating, while cutting the price target from $42 to $41.</li>
<li>RBC Capital analyst Jon Arfstrom maintained Synchrony with a Sector Perform rating, while increasing the price target from $50 to $55.</li>
<li>Goldman Sachs analyst Alex Scott maintained the stock with a Buy rating and raised the price target from $49 to $56.</li>
<li>Barclays analyst Terry Ma maintained Synchrony with an Equal-Weight rating, while increasing the price target from $46 to $49.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39839565/this-gap-analyst-turns-bullish-here-are-top-5-upgrades-for-thursday">This Gap Analyst Turns Bullish; Here Are Top 5 Upgrades For Thursday</a></li>
</ul>

Markets

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These Analysts Revise Their Forecasts On Synchrony Financial Following Q2 Results

RDZN

Roadzen shares are trading lower. The company announced the CEO and Chairman agreed to exchange $3.5 million of short-term debt for equity.

Equifax Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) shares are surging today after the company reported better-than-expected <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39825369/equifax-delivers-strong-second-quarter-2024-revenue-growth-of-9-led-by-workforce-solutions-non-mor" rel="noreferrer noopener">second-quarter FY24 financial results</a>.
Revenue grew 9% Y/Y to $1.43 billion, beating the consensus of $1.42 billion. Despite a 13% decline in USIS mortgage credit inquiries, U.S. mortgage revenue grew by 4% Y/Y in the second quarter.
In the second quarter, Workforce Solutions saw a 5% Y/Y increase in overall revenue, led by a 12% growth in non-mortgage revenue, particularly in Verification Services, where Government and Talent Solutions led with a 20% increase. However, mortgage revenue declined by 12% in the quarter.
Adjusted EBITDA margin declined to 32.0% from 32.7% a year ago. Adjusted&nbsp;EPS&nbsp;of $1.82&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">surpassed the street view of&nbsp;$1.73</a>.
In the second quarter, there was significant new product innovation leveraging the new EFX Cloud, with a 12.5% increase in the new product Vitality Index.
Additionally, 89% of new models and scores were developed using Artificial Intelligence and Machine Learning.
Outlook: Equifax revised guidance for FY24 revenue to $5.69 billion-$5.75 billion (from $5.67 billion-$5.77 billion) vs. $5.72 billion and adjusted EPS of $7.22-$7.47&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38301661/equifax-delivers-first-quarter-2024-revenue-growth-of-7-to-1-389-billion-amid-challenging-mortgage" rel="noreferrer noopener">(from $7.20-$7.50 earlier)</a> vs&nbsp;an estimate of $7.38.
For the third quarter, Equifax sees&nbsp;adjusted&nbsp;EPS&nbsp;of $1.75-$1.85&nbsp;(vs. street view of&nbsp;$2.01) and revenue of $1.425 billion-$1.445 billion&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">(vs.&nbsp;consensus of $1.45 billion)</a>.
Mark W. Begor, Equifax Chief Executive Officer, said, &#8220;While Equifax continues to execute well against its EFX2026 strategic priorities, our 2024 guidance reflects an expectation of a decline of about 11% in our 2024 U.S. mortgage credit inquiries, which is consistent with the current run-rates, and compares to down 34% in 2023.&#8221;
&#8220;Adjusted EBITDA and Adjusted EPS continue to benefit from organic revenue growth and the additional cost savings from Cloud spending reduction plans.&#8221;
Also, BofA Securities maintained a Buy rating on the stock and raised its <a target="_blank" href="https://www.benzinga.com/quote/EFX/analyst-ratings" rel="noreferrer noopener">price target from $255 to $286</a>.
Investors can gain exposure to the stock via Fidelity Disruptive Finance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDFF#NASDAQ">FDFF</a>) and VanEck ETF Trust VanEck Morningstar Wide Moat Growth ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MGRO#BATS">MGRO</a>).
Price Action: EFX shares are up 5% at $272.27 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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MGRO

Why Professional Services Company Equifax Shares Are Surging Today

VIGL

Vigil Neuroscience shares are trading lower. The company announced an update following a Type C Meeting with the U.S. Food and Drug Administration to its clinical development strategy for its IGNITE clinical trial evaluating iluzanebart in people with adult-onset leukoencephalopathy with axonal spheroids and pigmented glia.

On Monday, bank earnings continued with The Goldman Sachs Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>), also joining the trend of topped&nbsp;profit and revenue estimates on the back of better-than-expected fixed income results and smaller-than-expected loan loss provisions.&nbsp;On&nbsp;Tuesday, Morgan Stanley (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ms#NYSE">MS</a>) and Bank of America (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) boarded the bank earnings train. Morgan Stanley topped profit and revenue estimates with its second quarter financials on the back of&nbsp;stronger-than-expected trading and investment banking performance. Bank of America also topped estimates with second-quarter revenue and profit that were fueled by rising investment banking and asset management fees.
<h3>Goldman Sachs Justified The High Expectations</h3>
Out of the six biggest banks, &nbsp;Goldman is the most reliant on investment banking and trading to generate revenue and therefore, expectations were high with the rebound in Wall Street activity.&nbsp;&nbsp;For the quarter ended on June 30th,&nbsp;revenue grew 17% to $12.73 billion on the back of core trading, advisory, as well as asset and wealth management operations, surpassing Wall Street&rsquo;s $12.46 billion estimate.&nbsp;Prrofit surged 150%&nbsp;YoY to&nbsp;$3.04 billion, or $8.62 per share; but last year&rsquo;s financials were dragged down by hamstrung by write-downs from commercial real estate and the sale of a consumer business.
Fixed income was one of the highlights with revenue jumping 17% to $3.18 billion, surassping StreetAccount&rsquo;s estimate by $220 million, along with the bank&rsquo;s shrinking exposure to consumer loans as provision for credit losses went down 54% to $282 million, which is quite below StreetAccount&rsquo;s estimate of $435.4 million.&nbsp;On other fronts, Goldman Sachs was mainly in line with estimates. Equities trading rose 7% to $3.17 billion based on strong activity in derivatives.
Asset and wealth management division reported growth of 27% as revenue amounted to $3.88 billion.&nbsp;Platform solutions division reported revenue grew 2% to $669 million on the back of rising credit card balances and deposits.
But the well-known investment banking business disappointed compared to rivals as investment banking fees rose only 21% to $1.73 billion, slightly brlow StreetAccount&rsquo;s $1.8 billion estimate, with growth behind far behind rivals JPMOrgan Chase and Citigroup who have reported rises exceeding 50%. Goldman Sachs attributed the miss to&nbsp;weaker-than-expected advisory fees of $688 million.
<h3>Morgan Stanley Benefited From Rebounding Wall Street Activity</h3>
For the quarter ended on June 30th, Morgan Stanley reported revenue grew&nbsp;12%&nbsp;YoY to&nbsp;$15.02 billion, topping Wall Street&rsquo;s $14.3 billion estimate.
Wealth management revenue grew 2% to $6.79 billion, which was short of $6.88 billion estimate. Equity trading reported growth of 18% as revenue amounted to $3.02 billion, surpassing the StreetAccount estimate by about $330 million. Fixed income trading revenue grew by 16% to $1.99 billion, topping the Wall Street estimate by $130 million.&nbsp;Fueled by rising fixed income underwriting activity, investment banking revenue surged 51% to $1.62 billion, exceeding the estimate by $220 million.
The bottom line surged 41% YoY as profit amounted to $3.08 billion, or $1.82 per share, helped by a rebound in Wall Street activity..
Interest income plunged 17% YoY to $1.79 billion as the rate environment pushed rich clients to continue shifting cash into higher-yielding assets, resulting in lower deposit levels.&nbsp;Earnings amounted to $1.82 a share, surpassing LSEG&rsquo;s estimate of $1.65 a share.
Morgan Stanley investors value the more steady nature of the wealth management business due to its more predictable nature compared to investment banking and trading. However, its usual dynamic got flupped as institutional securities division earn more revenue compared to its wealth management division.
<h3>Bank Of America Promised A&nbsp;NII Rebound</h3>
For the June quarter, Bank of America reported revenue grew less than 1% to $25.54 billion, surpassing LSEG&rsquo;s estimate of $25.22 billion.&nbsp;Profit slipped 6.9% YoY to $6.9 billion, or 83 cents a share,&nbsp;also topping LSEG&rsquo;s estimate of 80 cents.
Investment banking fees rose 29% to $1.56 billion while asset management fees grew 14% to $3.37 billion, and wealth management division reported a 6.3% revenue growth of $5.57 billion.&nbsp;Net interest income contracted 3% to $13.86 billion.
But net interest income fourth quarter guidance of $14.5 billion gave hope of a turnaround this year. Aided by this guidance, shares grew 5.4%.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Goldman Sachs, Morgan Stanley and Bank of America Continued The Strong Trend With Their Second Quarter Financials

AAPL

Apple shares are trading lower amid broader tech weakness and possible uncertainty in the chip space.

In a recent address to the Speaker of the House and Congress on the House Floor, U.S. Rep. John Larson passionately called for immediate action on Social Security reform. Highlighting the program&#8217;s critical importance, Larson described it as the nation's number one anti-poverty initiative for the elderly and children.
Larson began by underscoring the sheer scale of Social Security's impact. "There are now close to 70 million Americans that rely on Social Security," he stated. "Forty percent of whom, for a pension, that is the only benefit that they have." This statistic alone, he argued, underscores the essential role that Social Security plays in providing a safety net in the United States.
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"Imagine that 10,000 baby boomers a day become eligible for Social Security," Larson continued, stressing the urgency of addressing the program's future. He lamented that Congress has not significantly enhanced<a href="https://www.benzinga.com/personal-finance/24/06/39528195/larry-finks-proposal-for-saving-social-security-is-to-attract-more-older-americans-to-work-until"> Social Security</a> in over half a century. "Richard Nixon was the president of the United States the last time Social Security was enhanced," he noted, emphasizing lawmakers&#8217; long-standing neglect of the program.
Larson pointed out the stark reality faced by millions of Americans. "Five million of our fellow citizens get below-poverty-level checks from Social Security," he said, describing the program as "the greatest insurance program in the nation's history." Despite its importance, Congress has failed to enhance and protect it.
Turning his attention to specific figures, Larson detailed the impact of Social Security on the state of Idaho's First District. "There are 219,000 plus Social Security recipients, 170,000 plus who are retirees, 21,000 who get disability. There are 10,000 plus widows, 5,600 spouses, 11,000 children in Idaho who rely on Social Security," he shared. This brings $388 million monthly into the district, funds critical for local economies.
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Larson echoed President Biden's suggestion of lifting the cap on earnings subject to Social Security taxes for high-income individuals. "Why shouldn't everybody pay the same?" he asked, arguing that such a change could significantly enhance the program's sustainability. Lifting the cap on earnings over $400,000 would mean those earning significantly more contribute fairly, according to Larson, ensuring the program's viability and expansion across the country.
Highlighting bipartisan recognition of the issue, Larson noted that even former President Donald Trump has indicated a shift in the Republican platform to protect <a href="https://www.benzinga.com/personal-finance/24/07/39668044/labor-economist-says-if-elon-musk-paid-for-social-security-on-his-salary-for-an-entire-year-it-w">Social Security</a>. However, Larson argued that mere protection is insufficient. "It's not enough to protect Social Security. Congress hasn't done anything in more than 53 years."
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In a call to action, Larson urged citizens to demand that Congress take immediate steps to address Social Security's shortcomings. "What Congress needs to do is not talk about it. It needs to vote," he declared. The failure to act, he warned, would continue to leave millions of Americans, especially the growing number of retirees, without adequate financial support.
<a href="https://www.youtube.com/watch?v=8I7reEEkn5U">Larson concluded his address</a> with a powerful reminder of Social Security's fundamental purpose. "Social Security is the number one anti-poverty program for the elderly, and also the number one anti-poverty program for children," he affirmed. "Citizens in the gallery and across this nation should demand that the United States Congress vote on Social Security and correct something that's gone in disrepair for more than 50 years."
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Congress Has Not Done Anything In 53 Years About Social Security, Says U.S. Rep. John Larson

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Kopin shares are trading higher after the company announced that it has achieved the final milestone in the production qualification of its high performance Organic Light Emitting Diode on Silicon display for Collins Aerospace's F-35 Lightning II Helmet Mounted Display System.

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Alaunos Therapeutics shares are trading lower after the company announced a 1-for-10 reverse stock split.

Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) reported better-than-expected second-quarter <a href="https://www.benzinga.com/general/biotech/24/07/39813647/johnson-johnsons-q2-earnings-revenue-and-profit-beat-on-strong-pharma-sales-annual-profit-outlook">earnings on Wednesday</a>.
The company posted adjusted EPS of $2.82, up 10.2% year-over-year, beating the consensus of $2.70. The pharma giant reported sales of $22.45 billion, up 4.3% year-over-year, beating the consensus of $22.31 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
"With a robust pipeline, upcoming regulatory milestones for RYBREVANT and TREMFYA, the integration of Shockwave, and continued expansion of newly launched products, including ACUVUE OASYS MAX 1-Day contact lenses and our VARIPULSE platform, we have a strong foundation for near and long-term growth," said Joaquin Duato, Chairman and CEO.
Johnson &amp; Johnson raised fiscal year 2024 operational sales guidance to $89.2 billion-$89.6 billion versus prior guidance of $88.7 billion-$89.1 billion.
The company said it expects fiscal year 2024 adjusted EPS guidance of $9.97–$10.07, down from prior guidance of $10.57–$10.72 versus the consensus of $10.01, to reflect the impact of recent acquisitions of Shockwave Medical, Proteologix, and NM26 Bispecific Antibody.
Johnson &amp; Johnson shares gained 0.1% to trade at $156.72 on Thursday.
These analysts made changes to their price targets on Johnson &amp; Johnson following the announcement.
<ul>
<li>Morgan Stanley analyst Terence Flynn maintained Johnson &amp; Johnson with an Equal-Weight rating and boosted the price target from $167 to $169.</li>
<li>TD Cowen analyst Joshua Jennings maintained the stock with a Buy rating, while cutting the price target from $195 to $185.</li>
<li>RBC Capital analyst Shagun Singh reiterated Johnson &amp; Johnson with an Outperform rating and maintained a price target of $175.</li>
</ul>
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These Analysts Revise Their Forecasts On Johnson & Johnson After Q2 Results

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TWFG IPO Shares Open For Trade At $22/Share; IPO Priced At $17/Share

McRae declares $0.14 dividend and a special dividend of $0.61

McRae GAAP EPS of $1.43, revenue of $32.83M

McRae Industries, Inc. declares $0.14 dividend

McRae Industries, Inc. goes ex dividend tomorrow

MCRAA

MCRAB

Small Cap

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McRae Industries, Inc. Government Contract Awarded

Dividends

McRae Industries, Inc. Dividend Declared

McRAE INDUSTRIES, INC. REPORTS EARNINGS FOR THE FIRST QUARTER OF FISCAL 2024

McRAE INDUSTRIES, INC. REPORTS EARNINGS FOR THE SECOND QUARTER AND FIRST SIX MONTHS OF FISCAL 2024

McRAE INDUSTRIES, INC. REPORTS EARNINGS FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF FISCAL 2024

Monday marks the last chance for investors to receive the next dividend payout from McRae Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MCRAB#OTC">MCRAB</a>). 
<h3>What's Happening</h3>
The company announced on Thursday that it would pay shareholders a quarterly dividend of $0.13 per share. On Tuesday, McRae Industries will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open $0.13 lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own MCRAB as of the end of Monday's session are eligible to receive the $0.13 dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on March 30, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To read more news on McRae Industries <a href="https://www.benzinga.com/stock//">click here</a>
<a href="https://www.benzinga.com/calendars/dividends">Click here</a> to visit our Dividends Calendar.

McRae Industries's Ex-Dividend Date Is Monday, Here's What You Need To Know

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McRae Industries

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Latest news for McRae Industries (OTC:MCRAB) Stock

Thursday, March 10, 2022