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Yahoo
22 minutes ago
- Yahoo
Texas Democrats meet with Newsom to stop Trump's push to 'rig' the 2026 election
Gov. Gavin Newsom stood alongside six Democrats from the Texas Legislature on Friday and joined them in accusing President Trump and Republicans of trying to "rig" elections to hold onto congressional seats next year. "They play by a different set of rules and we could sit back and act as if we have some moral authority and watch this 249-, 250-year-old experiment be washed away," Newsom said of the nation's history. "We are not going to allow that to happen." The Texas lawmakers and the governor spoke with reporters after meeting privately at the Governor's Mansion in Sacramento to discuss a national political fight over electoral maps that could alter the outcome of the midterm elections and balance of power in Congress. At the urging of President Trump, Texas Gov. Greg Abbott called his state Legislature into a special session this week that includes a call to redistrict the Lone Star State to help Republicans pick up seats in Congress. The move is part of a gerrymandering effort pushed by Trump to prevent the GOP from losing control of the House of Representatives next year. If Democrats take the House, they could derail the president's agenda, which has so far included a crackdown on undocumented immigrants, tariffs on imports, rescinding efforts to combat climate change and undercutting state protections for the LGTBQ+ community, among other policy priorities. Newsom has threatened to mirror Trump's tactics and said he's in talks with leaders of the California Legislature to redraw the state's congressional districts to favor electing more Democrats and fewer Republicans. Texas Democrats, who said they traveled to California to meet with the governor and explain the state of play in Texas, pledged do everything in their power to push back against Trump's plan. "We're going to use every tool at our disposal in the state of Texas to confront this very illegal redistricting process that is going to be done on the backs of historic African American and Latino districts," said Texas state Rep. Rafael Anchía. Another group of Texas lawmakers are expected to meet with Illinois Gov. JB Pritzker in Chicago. Read more: California Democrats may target GOP congressional districts to counter Texas Changing the maps to benefit Democrats is a massive departure from California's work over the last decade to remove political partisanship from the redistricting process. California voters in 2010 gave an independent Citizens Redistricting Commission the power to determine the boundaries of voting districts for the U.S. House of Representatives instead of leaving that authority with the state Legislature. To redistrict before the midterms, the most legally sound option is for state lawmakers to send a constitutional amendment to voters that seeks to allow changes to the voter map outside the boundaries of California's independent redistricting process. The vote would need to happen in a special election before the June primary. Newsom has said he's also exploring a potential legal loophole that could allow the California Legislature to redraw the congressional maps themselves with a two-thirds vote. The governor's office said state law charges the redistricting commission with crafting new maps after a census, which is conducted about every 10 years. But they say the law is silent on everything that happens in between that time period. Newsom's lawyers believe it could be possible for the Legislature to redistrict congressional seats mid-decade on its own without going to the ballot. Read more: Texas Republicans aim to redraw House districts at Trump's urging, but there's a risk The governor's call to fight Trump using his own gerrymandering tactics has drawn a mixed response. Newsom argues that Democrats will continue to lose if they remain the only party that plays by the rules. But others worry about the integrity of electoral outcomes across the nation if political parties in every state resort to naked political gamesmanship to gain control. Texas Republicans have long been accused of crafting political maps to dilute the power of Black and Latino voters, which led to an ongoing lawsuit from 2021. Newsom's effort in California would effectively seek to increase the share of Democrats in Republican-held districts. Redistricting experts in California say redrawing the maps in the Golden State could create the potential for Democrats to flip at least five of the seats held by GOP incumbents. Democrats may have the potential for greater gains from gerrymandering, particularly in places such as California that have attempted to practice nonpartisan redistricting, compared to states such as Texas, where maps are already drawn in favor of Republicans. "It should be no surprise to anybody who covers Texas that every decade since 1970 Texas has been found to discriminate against people of color in its redistricting process," Anchía said. "In trying to do this, it is going to create great harm, not only to the people we represent, to the voters of the state of Texas, but also potentially to all Americans," he said about Trump's plan. It's common for the party in control of the White House to lose seats nationally in the first election after a presidential contest. Republicans hold majorities in the Senate and the House, and losing power to Democrats could be detrimental to Trump's presidency. Trump's job approval rating dropped to a second-term low of 37% in a Gallup poll conducted earlier this month. The dip is just above his lowest approval rating ever of 34% at the end of his first term. Trump has said publicly that he thinks it's possible for Republicans to redistrict and pick up five seats in Texas, with the potential for gains in other states that redraw their maps. Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
Yahoo
22 minutes ago
- Yahoo
Those who invested in Multi-Chem (SGX:AWZ) five years ago are up 457%
When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose your money. But on a lighter note, a good company can see its share price rise well over 100%. Long term Multi-Chem Limited (SGX:AWZ) shareholders would be well aware of this, since the stock is up 276% in five years. It's down 2.1% in the last seven days. Let's take a look at the underlying fundamentals over the longer term, and see if they've been consistent with shareholders returns. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. During five years of share price growth, Multi-Chem achieved compound earnings per share (EPS) growth of 32% per year. This EPS growth is remarkably close to the 30% average annual increase in the share price. That suggests that the market sentiment around the company hasn't changed much over that time. Rather, the share price has approximately tracked EPS growth. The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image). We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. This free interactive report on Multi-Chem's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further. What About Dividends? When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Multi-Chem, it has a TSR of 457% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments! A Different Perspective Multi-Chem's TSR for the year was broadly in line with the market average, at 29%. It has to be noted that the recent return falls short of the 41% shareholders have gained each year, over half a decade. Although the share price growth has slowed, the longer term story points to a business well worth watching. It's always interesting to track share price performance over the longer term. But to understand Multi-Chem better, we need to consider many other factors. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Multi-Chem you should know about. Multi-Chem is not the only stock insiders are buying. So take a peek at this free list of small cap companies at attractive valuations which insiders have been buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Singaporean exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
22 minutes ago
- Yahoo
S&P 500, Nasdaq close at records; Deckers soars on UGG demand
By Noel Randewich (Reuters) -The S&P 500 and Nasdaq notched record high closes on Friday, lifted by optimism the U.S. could soon reach a trade deal with the European Union, while Deckers Outdoor surged following a strong quarter for the maker of UGG boots and Hoka sneakers. European Commission President Ursula von der Leyen will meet U.S. President Donald Trump on Sunday in Scotland after EU officials and diplomats said they expected to reach a framework trade deal this weekend. Trump said earlier that the odds of a U.S.-EU trade deal were "50-50". Deckers Outdoor soared 11% after results beat quarterly estimates, with strong demand in international markets. Intel tumbled 8.5% after the chipmaker forecast steeper quarterly losses than expected and announced plans to slash jobs. Wall Street has surged to record highs in recent weeks, thanks to upbeat quarterly earnings, trade deals with Japan and the Philippines, and expectations that the White House will cement more agreements to avoid elevated tariffs threatened by Trump. "The market has been anticipating that the deals are going to get done," said Thomas Martin, Senior Portfolio Manager at GLOBALT in Atlanta. "Personally, I have a bit more skepticism. You've got to be careful, because if they don't get done, there is more room for disappointment than there is upside." The S&P 500 climbed 0.40% to end the session at 6,388.64 points. The Nasdaq gained 0.24% to 21,108.32 points, while the Dow Jones Industrial Average rose 0.47% to 44,901.92 points. Nine of the 11 S&P 500 sector indexes rose, led by materials, up 1.17%, followed by a 0.98% gain in industrials. For the week, the S&P 500 climbed 1.5%, the Nasdaq added 1% and the Dow rose 1.3%. The S&P 500 set a closing record every day this week. The last time the index had a "perfect week" of closing highs, Monday through Friday, was in November 2021, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. Investors next week will focus on the U.S. Federal Reserve, with policymakers on Thursday expected to hold interest rates steady as the central bank weighs the impact of tariffs on inflation. Traders see about a 60% chance of a rate cut in September, according to CME's FedWatch tool. Trump said on Friday he believed that Fed Chair Jerome Powell might be ready to lower rates. Trump made a rare visit to the Fed on Thursday after calling Powell a "numbskull" earlier in the week for failing to slash rates. Charter Communications slumped 18% after the cable giant reported a deeper-than-expected broadband subscriber loss, hurt by competition from wireless carriers bundling high-speed internet services with 5G mobile plans. Paramount Global dipped 1.6% after U.S. regulators approved its $8.4-billion merger with Skydance Media. Health insurer Centene rose 6.1% after it said it expects to deliver improved profitability in its three government-backed healthcare insurance businesses in 2026. S&P 500 companies are expected on average to increase their second-quarter earnings by 7.7% year over year, according to LSEG I/B/E/S, with most of those gains coming from heavyweight tech-related companies. Companies reporting next week include Microsoft, Apple, Amazon and Meta Platforms. Advancing issues outnumbered falling ones within the S&P 500 by a two-to-one ratio. The S&P 500 posted 45 new highs and 6 new lows; the Nasdaq recorded 68 new highs and 54 new lows. Volume on U.S. exchanges was relatively light, with 17.7 billion shares traded, compared to an average of 18.1 billion shares over the previous 20 sessions.
