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Yahoo
28-05-2025
- Business
- Yahoo
Trump Administration Claims It's 'Kicking' 1.4 Million Undocumented Immigrants Off Medicaid, But Grok Clarifies Federal Medicaid Does Not Cover Them, States Do
After a member of the Donald Trump administration shared a post about 'kicking' 1.4 million undocumented immigrants off the Medicaid program as part of the 'One Big Beautiful Bill,' X's AI bot Grok clarified that undocumented immigrants are already ineligible for federally funded Medicaid. What Happened: An X post by Alex Pfeiffer, the deputy assistant to the President and principal deputy communications director, stated that the 'One Big Beautiful Bill' was 'kicking illegal immigrants off Medicaid to protect Medicaid for AMERICANS!' According to Grok, the information in the post was misleading and the image in the post shows a protest with Mexican flags, likely from a past immigration rally. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — However, X users flocked to the comment section of the post asking Grok for clarification, which highlighted that the federally funded Medicaid does not cover healthcare for undocumented immigrants, except for emergency services, per the 1996 PRWORA law. While Medicaid is federally funded, some states use their own funds to provide coverage for undocumented immigrants. According to a report by the Los Angeles Times, California's Medi-Cal program, which covers undocumented immigrants, is funded by the state at a cost of $9.5 billion—$3 billion over budget estimates. Grok clarifies that the 1.4 million figure likely refers to individuals in such state programs across the U.S., not federal Medicaid. Why It Matters: Programs like the Supplemental Nutrition Assistance Program (SNAP) and the Nursing Home Minimum Staffing Rule will also be affected by the 'One Big Beautiful Bill.' Additionally, the Congressional Budget Office estimated that tax changes, including extending provisions of the 2017 tax act, would lead to an increase in the federal deficit by $3.8 trillion. — The document also stated, "Household resources would decrease by an amount equal to about 2 percent of income in the lowest decile (tenth) of the income distribution in 2027 and 4 percent in 2033, mainly as a result of losses of in-kind transfers, such as Medicaid and SNAP." Conversely, the wealthiest households or the top decile would see their resources increase by 4% in 2027 and 2% in 2033, primarily due to lower taxes. The discussions around the growing deficit, debt ceiling hike, and programs like Medicaid kept the stock market on edge last week. The S&P 500 index dropped 1.70%, the Dow Jones declined 2.21%, and the Nasdaq 100 index slipped 1.05% in the last week. The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell on Friday. The SPY was down 0.68% to $579.11, while the QQQ declined 0.93% to $509.24, according to Benzinga Pro data. On Monday, the futures of Dow Jones, S&P 500, and Nasdaq 100 indices were trading higher after Trump extended the tariffs on the European Union to July 9. Read Next: Hasbro, MGM, and Skechers trust this AI marketing firm — Invest before it's too late. Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab 4,000 of its pre-IPO shares for just $0.30/share! Image: Shutterstock/IB Photography Send To MSN: Send to MSN Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Trump Administration Claims It's 'Kicking' 1.4 Million Undocumented Immigrants Off Medicaid, But Grok Clarifies Federal Medicaid Does Not Cover Them, States Do originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Trump Administration Claims It's 'Kicking' 1.4 Million Undocumented Immigrants Off Medicaid, But Grok Clarifies Federal Medicaid Does Not Cover Them, States Do
After a member of the Donald Trump administration shared a post about 'kicking' 1.4 million undocumented immigrants off the Medicaid program as part of the 'One Big Beautiful Bill,' X's AI bot Grok clarified that undocumented immigrants are already ineligible for federally funded Medicaid. What Happened: An X post by Alex Pfeiffer, the deputy assistant to the President and principal deputy communications director, stated that the 'One Big Beautiful Bill' was 'kicking illegal immigrants off Medicaid to protect Medicaid for AMERICANS!' According to Grok, the information in the post was misleading and the image in the post shows a protest with Mexican flags, likely from a past immigration rally. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — However, X users flocked to the comment section of the post asking Grok for clarification, which highlighted that the federally funded Medicaid does not cover healthcare for undocumented immigrants, except for emergency services, per the 1996 PRWORA law. While Medicaid is federally funded, some states use their own funds to provide coverage for undocumented immigrants. According to a report by the Los Angeles Times, California's Medi-Cal program, which covers undocumented immigrants, is funded by the state at a cost of $9.5 billion—$3 billion over budget estimates. Grok clarifies that the 1.4 million figure likely refers to individuals in such state programs across the U.S., not federal Medicaid. Why It Matters: Programs like the Supplemental Nutrition Assistance Program (SNAP) and the Nursing Home Minimum Staffing Rule will also be affected by the 'One Big Beautiful Bill.' Additionally, the Congressional Budget Office estimated that tax changes, including extending provisions of the 2017 tax act, would lead to an increase in the federal deficit by $3.8 trillion. — The document also stated, "Household resources would decrease by an amount equal to about 2 percent of income in the lowest decile (tenth) of the income distribution in 2027 and 4 percent in 2033, mainly as a result of losses of in-kind transfers, such as Medicaid and SNAP." Conversely, the wealthiest households or the top decile would see their resources increase by 4% in 2027 and 2% in 2033, primarily due to lower taxes. The discussions around the growing deficit, debt ceiling hike, and programs like Medicaid kept the stock market on edge last week. The S&P 500 index dropped 1.70%, the Dow Jones declined 2.21%, and the Nasdaq 100 index slipped 1.05% in the last week. The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell on Friday. The SPY was down 0.68% to $579.11, while the QQQ declined 0.93% to $509.24, according to Benzinga Pro data. On Monday, the futures of Dow Jones, S&P 500, and Nasdaq 100 indices were trading higher after Trump extended the tariffs on the European Union to July 9. Read Next: Hasbro, MGM, and Skechers trust this AI marketing firm — Invest before it's too late. Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab 4,000 of its pre-IPO shares for just $0.30/share! Image: Shutterstock/IB Photography Send To MSN: Send to MSN Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Trump Administration Claims It's 'Kicking' 1.4 Million Undocumented Immigrants Off Medicaid, But Grok Clarifies Federal Medicaid Does Not Cover Them, States Do originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Nvidia Scores Big As Trump Brokers Major AI Export Pact With UAE and US Tech Giants
The Trump administration forged a preliminary deal with the United Arab Emirates involving importing 500,000 of Nvidia Inc.'s (NASDAQ:NVDA) advanced AI chips annually. The deal was at least through 2027 but could be in place until 2030, Reuters reported on Wednesday, citing unnamed sources familiar with the matter. Under the deal, 20% of the chips, or 100,000 of them per year, will serve UAE's tech firm G42, while the rest would be split among U.S. companies, including Microsoft Corp (NASDAQ:MSFT) and Oracle Corp (NYSE:ORCL) that might also seek to build data centers in the UAE.U.S. President Donald Trump is on a tour of the Gulf region this week and on Tuesday announced a $600 billion investment package from Saudi Arabia. The package includes massive AI infrastructure partnerships with Nvidia, Advanced Micro Devices (NASDAQ:AMD), and Qualcomm Inc (NASDAQ:QCOM). Saudi Arabia's Public Investment Fund subsidiary HUMAIN will construct AI factories across Saudi Arabia over the next five years, powered by Nvidia's most advanced GPUs. The factories' projected total capacity is up to 500 megawatts. HUMAIN will also introduce Saudi Arabia's first Nvidia Omniverse Cloud platform. Bank of America Securities analyst Vivek Arya expects the HUMAIN deals to range between $2 billion and $3 billion annually, likely starting in 2025, with a total of between $15 billion and $20 billion over a multi-year period. Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory. Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at NVIDIA, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For NVIDIA, the 200-day moving average sits at $125.33, according to Benzinga Pro, which is below the current price of $133.04. For more on charts and trend lines, see a description here. Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable. Price Actions: NVDA stock is down 1.40% at $133.45 at the last check on Thursday. Read Next:Photo by epha1st0s via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? NVIDIA (NVDA): Free Stock Analysis Report This article Nvidia Scores Big As Trump Brokers Major AI Export Pact With UAE and US Tech Giants originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
07-05-2025
- Business
- Yahoo
How To Earn $500 A Month From ConocoPhillips Stock Ahead Of Q1 Earnings
ConocoPhillips (NYSE:COP) will release earnings results for the first quarter, before the opening bell on Thursday, May 8. Analysts expect the Houston-based company to report quarterly earnings at $2.05 per share, up from $2.03 per share in the year-ago period. ConocoPhillips projects to report quarterly revenue at $15.91 billion, compared to $14.48 billion a year earlier, according to data from Benzinga Pro. On April 29, Bank of America Securities analyst Kalei Akamine downgraded the rating for ConocoPhillips from Buy to Neutral and lowered the price target from $138 to $107. With the recent buzz around ConocoPhillips, some investors may be eyeing potential gains from the company's dividends. As of now, ConocoPhillips offers an annual dividend yield of 3.56% — a quarterly dividend of 78 cents per share ($3.12 a year). So, how can investors exploit its dividend yield to pocket a regular $500 monthly? To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $168,512 or around 1,923 shares. For a more modest $100 per month or $1,200 per year, you would need $33,738 or around 385 shares. To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($3.12 in this case). So, $6,000 / $3.12 = 1,923 ($500 per month), and $1,200 / $3.12 = 385 shares ($100 per month). View more earnings on COP Note that dividend yield can change on a rolling basis; the dividend payment and the stock price fluctuate over time. How that works: The dividend yield is computed by dividing the annual dividend payment by the stock's current price. For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40). Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield. COP Price Action: Shares of ConocoPhillips gained 0.02% to close at $87.63 on Tuesday. Read More: Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga?
Yahoo
07-05-2025
- Business
- Yahoo
Elanco Animal Health Sells Xdemvy Royalties To Blackstone in $295 Million Deal
Elanco Animal Health Incorporated (NYSE:ELAN) on Monday announced the sale of certain future tiered royalties and commercial milestones associated with Xdemvy (lotilaner ophthalmic solution) 0.25% for the human health application of lotilaner to Blackstone Life Sciences and Blackstone Credit & Insurance for $295 million in cash. The company will use the proceeds to accelerate debt reduction, positioning Elanco to achieve an expected net leverage ratio of 3.9x to 4.3x adjusted EBITDA by the end of 2025. Also Read: Elanco Animal's Outlook Lags Street Expectations, But Analyst Sees Time For Elanco's Commercial Investment To Payoff Elanco will repay portions of its outstanding term loans on a pro-rata basis, which is expected to reduce interest expense by approximately $10 million, offset by the sale of approximately $10 million of royalties based on Elanco's initial 2025 guidance. In 2019, Elanco exclusively licensed lotilaner to Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) for exploration as a solution to several unmet human health needs. In 2023, Xdemvy became the first lotilaner-based product approved for human use and the only FDA-approved medicine for Demodex blepharitis, a common eyelid disease in humans caused by Demodex mites. The agreement applies to certain tiered royalties associated with Xdemvy's U.S. net sales from April 2025 through August 2033 and certain commercial milestones. Elanco retains the rights to all royalty payments on net sales outside the U.S. and any future human applications of lotilaner beyond ophthalmic solutions. Elanco Animal Health is scheduled to release its first quarter 2025 financial results on Wednesday, May 7. Analysts expect adjusted earnings per share of 31 cents and sales of $1.21 billion, as per data from Benzinga Pro. Elanco Health Stock Prediction For 2025 Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory. Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Elanco Animal Health, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Elanco Animal Health, the 200-day moving average sits at $12.34, according to Benzinga Pro, which is above the current price of $9.75. For more on charts and trend lines, see a description here.
