Latest news with #LarryHogan
Forbes
15-04-2025
- Business
- Forbes
Will CSX Stock Derail Or Deliver After Its Upcoming Earnings?
Governor Larry Hogan arrives by CSX train at Seagirt Marine Terminal. (Barbara Haddock Taylor/The ... More Baltimore Sun/Tribune News Service via Getty Images) CSX Corporation is set to announce its earnings on Wednesday, April 16, 2025. Analysts expect earnings of $0.37 per share on revenue of $3.46 billion for the quarter. This marks a decline compared to the same quarter last year, which posted earnings of $0.46 per share on revenue of $3.68 billion. The projected drop in performance is primarily attributed to continued weakness in coal freight and a broader decline in average revenue per carload. That said, CSX stock has often responded positively to earnings announcements. Over the past five years, the stock delivered a positive one-day return in 65% of earnings releases, with a median return of 2.6% and a peak return of 4.3%. The company currently has a market capitalization of $54 billion. Over the past twelve months, it generated $15 billion in revenue, alongside $5.4 billion in operating profits and $3.5 billion in net income. While investor response will depend on how earnings and guidance align with expectations, understanding historical performance can benefit event-driven traders. You can either analyze the historical trends and take a position before the announcement or explore correlations between immediate and medium-term returns to enter a trade the day after earnings are released. See earnings reaction history of all stocks Key insights on one-day (1D) returns following earnings: The table below provides additional data on observed 5-Day (5D) and 21-Day (21D) post-earnings returns, along with key summary statistics. CSX observed 1D, 5D, and 21D returns post earnings A relatively lower-risk approach (though only useful if correlations are strong) involves analyzing the relationship between short-term and medium-term post-earnings returns. Traders can identify the highest correlation pair and plan their strategy accordingly. For instance, if 1D and 5D returns are highly correlated, a positive 1D return might support a 'long' position for the next 5 days. The table below shows correlation data for both the past 5 years and more recent 3-year history. Note: 1D_5D denotes correlation between 1-day and subsequent 5-day returns. CSX Correlation Between 1D, 5D and 21D Historical Returns Learn more about Trefis RV strategy that has outperformed its all-cap stocks benchmark(combination of all 3, the S&P 500, S&P mid-cap, and Russell 2000), to produce strong returns for investors. Separately, if you want upside with a smoother ride than an individual stock like Abbott Laboratories, consider the High Quality portfolio, which has outperformed the S&P, and clocked >91% returns since inception. Invest with Trefis Market Beating Portfolios | Rules-Based Wealth
Yahoo
05-04-2025
- Business
- Yahoo
The shadow Donald Trump is casting over Annapolis
President Donald Trump holds up a chart purporting to show tariffs charged by and to other nations at a Rose Garden\\ event where he unveiled sweeping new taxes Wednesday (Photo by) Maryland lawmakers have a Donald Trump problem. Between drastic cuts to federal programs, mass firings of Marylanders employed by the federal government, and tariffs that will hike prices on goods coming through the Port of Baltimore, the General Assembly is facing a crisis. To be clear, Maryland was already in a budget hole before Donald Trump moved back into the White House. Since 2017, experts have been warning about a looming $3 billion structural deficit. This long-term shortfall was briefly masked by an influx of COVID-19 relief funds, but those federal resources have long since run out. Larry Hogan and his allies like to claim that the former Republican governor left Maryland's finances in good shape, but they conveniently overlook how much of the state's temporary surplus was due to one-time pandemic relief funds. In stark contrast to his Republican predecessor, Gov. Wes Moore doesn't have a federal financial cushion to rely on. In fact, the governor has to balance the state budget at a time when Donald Trump is starving our state of federal resources. Maryland Matters welcomes guest commentary submissions at editor@ We suggest a 750-word limit and reserve the right to edit or reject submissions. We do not accept columns that are endorsements of candidates, and no longer accept submissions from elected officials or political candidates. Opinion pieces must be signed by at least one individual using their real name. We do not accept columns signed by an organization. Commentary writers must include a short bio and a photo for their bylines. Views of writers are their own. As a former member of Congress, I understand how uniquely exposed our state is to what happens in Washington – especially when it comes to the budget. Cuts to federal programs, particularly in areas like health care, transportation and education, aren't just abstract numbers on a ledger – they have real-world consequences for Marylanders. Programs like Medicaid and SNAP rely heavily on federal funding, and as those resources dwindle, the state is forced to pick up the tab so that our residents don't get left behind. Our proximity to Washington, D.C., also means we have a higher concentration of federal workers than most states, making us especially vulnerable to federal layoffs. When the government cuts jobs or freezes hiring, Maryland feels the pain, with thousands of families directly affected by the loss of income and stability. These layoffs ripple through our communities, affecting not just federal employees, but local businesses and services that depend on their spending power. And with so many goods passing through the Port of Baltimore, we're acutely susceptible to Trump's tariffs. Tariffs on imported goods increase costs for businesses and consumers alike, disrupting supply chains and raising prices on everyday products. For Maryland, which relies heavily on trade and transportation, these tariffs could have serious economic consequences, threatening jobs at the port and in industries that depend on the goods it handles. Despite these challenges, Gov. Moore and the General Assembly's budget framework prioritizes what matters: cutting taxes or keeping taxes the same for 94% of Marylanders, growing our economy so we're less reliant on Washington, and protecting the critical services Marylanders depend on, like access to health care. These priorities are correct – although the details are still getting ironed out in Annapolis. The governor and legislature are also making tough, honest choices to ensure long-term stability, regardless of what Donald Trump does in the White House. To stimulate growth, the budget framework cuts spending by the largest amount in 16 years. It also asks the wealthiest Marylanders to pay a little bit more. I agree that it's reasonable to ask someone who's making over $750,000 a year to give roughly $1,800 more to support our law enforcement and firefighters, strengthen our schools and grow our economy. I expect Gov. Moore will rise to this challenge, especially given his track record. He's the first governor in a decade to consistently introduce budgets with general funds that were smaller than the previous year's. He's maintained more than $2 billion in the Rainy Day Fund each year – well above the recommended levels – and kept positive cash balances while managing crises like the collapse of the Francis Scott Key Bridge. The governor also understands we need to support our job creators and workforce alike in order to jump-start our economy. Donald Trump may be wreaking havoc on our federal government and our state's finances, but Maryland has a history of resilience. With Gov. Wes Moore at the helm, I'm confident we can weather these difficult times and emerge stronger.
CBS News
19-02-2025
- Business
- CBS News
Maryland ranks second among most educated states, WalletHub's study shows
Maryland is ranked second among the most educated states in America, according to a study by WalletHub. WalletHub's study compared the 50 states across 18 metrics that examined factors of well-educated populations; educational attainment; school quality; and achievement gaps between genders and races. Maryland is only behind Massachusetts in this study. WalletHub credits Maryland for enacting a free statewide community college program. The study says Maryland has the fourth-highest share of residents 25 years or older with at least a bachelor's degree and the second-highest share with a graduate or professional degree. Maryland also has a "great education at the high school level," according to WalletHub. The study points out that Maryland has the seventh-highest share of students who scored at least a 3 out of 5 on an AP exam during high school, and its public school systems rank as the seventh best in the nation. The study said that Maryland's universities, as a whole, rank as the sixth-best in the country, and also has one of the smallest gender gaps when it comes to Bachelor's degree attainment, and the ninth-smallest racial gap. Debate over state education funding Earlier this month, Maryland education advocates rallied in Annapolis against proposed rollbacks to the "Blueprint for Maryland's Future." Maryland is facing a nearly $3 billion deficit and Gov. Wes Moore's proposal includes restructuring how the state funds education and its Blueprint. In the proposed budget, the governor seeks to limit collaborative time for teachers and calls for community school funding freezes. The Blueprint became law in 2021 after the General Assembly overrode a veto of the bill by former Gov. Larry Hogan. The Kirwan Commission was formed in 2016 and worked for three years to develop the Blueprint based on best practices to help the state's poorest schools. The education plan sought to bolster spending in high-concentration poverty schools and uplift students who need additional services to succeed in underserved districts.
Yahoo
07-02-2025
- Business
- Yahoo
Taxing digital ads opened Maryland up to litigation. McKee wants Rhode Island to do it anyway.
The U.S. District Courthouse in Baltimore. The state of Maryland has faced an avalanche of legal attacks in state and federal court from the tech companies and trade groups after its Democratic legislature passed a digital advertising tax in 2021, overriding the veto of then-Gov. Larry Hogan. (Photo by Danielle E. Gaines/Maryland Matters) Is a $20 million boost to state coffers worth risking years of court battles — and potentially big financial losses — with technology giants like Apple and Meta? The question hung, unanswered, over the second floor of the Rhode Island State House Thursday, where the Rhode Island Senate Committee on Finance gave an initial vetting to a proposed state tax on billion dollar companies for money made locally on digital advertising. No votes were taken, as is customary in preliminary committee hearings. Gov. Dan McKee pitched the 10% tax as part of his proposed fiscal 2026 budget. If enacted, the tax on the local share of digital advertising for companies with $1 billion or more in gross revenue would bring in $9.6 million in fiscal 2026, rising to $19.6 million in fiscal 2027. But the reward might not be worth the risk; just ask Maryland, the only state with a similar tax policy. Maryland's Democratic legislature passed a digital advertising tax in 2021, overriding the veto of then-Gov. Larry Hogan. Maryland has since faced an avalanche of legal attacks in state and federal court from the tech companies and trade groups representing them. A federal judge Baltimore has tossed many of the lawsuits, which make claims ranging from First Amendment violations to commerce and due process concerns. A separate set of complaints are still open in Maryland Tax Court, with a judge in January calling for an extended discovery process in one case filed by Apple, Google, Meta and Peacock, according to news reports. Zachary Lilly, deputy director of state and federal affairs for NetChoice, a trade group representing large tech and social media companies, warned Rhode Island lawmakers that the Ocean State could be facing a similar set of legal challenges if it enacts a digital advertising tax. 'It's wiser to wait until legal proceedings in Maryland run their course,' Lilly said. 'Otherwise those dollars will need to be returned, costing the state and the taxpayer far more than they ever gained. Sen. Sam Zurier, a Providence Democrat and civil attorney, was already worried, even before Lilly spoke. Earlier in the hearing, he peppered Neena Savage, state tax administrator, with questions about the status of the Maryland cases and potential consequences if Rhode Island faces, and loses, similar legal battles. Savage's answers hardly offered reassurance. She said Rhode Island could 'potentially' have to repay the companies it taxed if it lost a lawsuit. She was 'not certain' whether the state might also have to cover attorneys' fees for the plaintiffs if that was the case. As for the likelihood of getting sued? 'There's always a potential for litigation with any tax law enacted,' Savage said. 'We would have to weigh the consequences and risks at that time.' A report prepared by the Rhode Island Senate Fiscal Office found Rhode Island's proposal avoids potential commerce-related violations by using a flat tax, rather than the tiered structure in Maryland. But both rely on another sore spot to tech companies: a 'pass-through clause' which prevents the advertising companies from passing on the tax to consumers through an extra fee or surcharge. Also unclear from initial discussion Thursday: how the state determines the amount of revenue it can tax. McKee's budget calls for two new tax employees — with a $550,000 price tag — to help develop rules and regulations, and enforcement of the new tax. Broadly, the plan would be to calculate ad revenue from Rhode Island based on the proportion of devices tracked by a given company, like Meta, that are located within the physical boundaries of the Ocean State, Savage said. That proportion would be applied to total revenues to determine revenue specific to Rhode Island, with the smaller figure then subject to a 10% tax. But what happens if someone's browsing the internet using a Virtual Private Network, which would mask their identity and location, asked Sen. Lou DiPalma, a Middletown Democrat. Savage wasn't sure. Relatedly, Deb Peters, a former South Dakota state senator who now represents the Association of National Advertisers, testified about the lack of clarity around device data collected from people who travel through Rhode Island, but don't actually live there. The original version of McKee's plan would have also taxed media companies, affecting the parent companies of The Providence Journal, WPRI-TV and WJAR-TV. However, McKee has since put in a budget amendment exempting news media and broadcast entities, according to a Feb. 3 letter from Joe Codega, state budget officer. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
