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States crack down on tax break for wealthy investors

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States crack down on tax break for wealthy investors

Lake Oswego in Oregon.

Bradleyhebdon | Istock Unreleased | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

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A wave of states deciding to take aim at a tax incentive for investors and startup founders could sway some high-net-worth residents to relocate, lawyers to the wealthy told Inside Wealth.

The One Big Beautiful Bill Act turbocharged the tax breaks on qualified small business stock, better known as QSBS. However, some states, including Maine and Oregon, have targeted the tax incentive in response to federal funding cuts.

“Tax policy has consequences, both good and bad, and I think that the states need to figure out what makes the most sense for them,” said David Blum, partner and chair of Akerman’s national tax practice group. “Someone looking for a substantial exit could have multiple homes already.”

Blum noted that several billionaires have made high-profile departures from California as a state billionaire tax proposal gains steam. Google co-founder Sergey Brin, who has bought mansions in Nevada and Florida, is funding two ballot initiatives that take aim at the wealth tax measure.

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The QSBS exemption, introduced during the Clinton administration, was designed to encourage investing and creating small companies. The federal carve-out allows investors and founders to reduce their capital gains taxes when selling stock directly acquired from a qualifying C corp.

In order to claim the full exemption, the stock must be held for more than five years. Prior to the OBBBA, the maximum exemption from capital gains taxes was $10 million or 10 times the original basis of the investment, whichever is greater. The OBBBA raised the exclusion to $15 million. The bill also raised the maximum size of qualifying “small businesses” from $50 million to $75 million in gross assets.

Last month, Maine and Oregon passed legislation to decouple from the federal QSBS exemption, meaning that taxpayers will have to pay state income taxes on startup exits. Similar efforts in New York and Washington state failed to pass. The District of Columbia Council voted to decouple from several provisions of the OBBBA, but Congress passed a resolution to block that move.

Four states already tax gains on QSBS: Alabama, Mississippi, Pennsylvania and, most notably, California, the nation’s venture-capital center.

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Proponents of QSBS reform argue that the regime primarily benefits the wealthy. Research by the Department of Treasury found that taxpayers who earn more than $1 million account for nearly 75% of gains excluded.

Lawyer Steve Oshins told Inside Wealth that QSBS laws and other tax proposals aimed at the wealthy encourage high earners to move to other states.

The tax burden depends on where the shareholder lives when they sell their stock, which gives clients time to plan. Oshins said it is possible in some states to use trusts to avoid state income taxes on QSBS. Delaware, Nevada and Wyoming are popular jurisdictions for establishing these trusts.

For instance, he said, a resident of Oregon could transfer stock to an incomplete non-grantor trust set up in a state that doesn’t tax trust income, like Nevada. As long as the trust is not administered in Oregon and none of the trustees live there, the trust’s capital gains would not be subject to Oregon income taxes.

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But other states, including Maine, have more stringent rules, he said. Non-grantor trusts are subject to state income if funded by a Maine resident or created by the will of one, according to Oshins.

That said, the most straightforward course of action is to move. 

“Let’s say a client is about to hire me and says, ‘I have a summer ho me in Florida, I’m thinking of moving there,’” Oshins said. “I’ll say, ‘Let’s wait a few months. Move there. Then let’s set up your trust.’”

But changing your domicile is easier said than done, Blum said. To pass muster with state tax authorities, clients have to do more than change their voter registration and and spend at least 183 days in another state. 

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“When it comes to changing residency and your domicile, you really have to move and uproot your life,” he said.

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Johnson & Johnson Stock a Strong Buy in 2026 for Dividend Growth and Healthcare Stability

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Locals in Ringaskiddy, Ireland, where pharmaceutical giants like Johnson & Johnson have transformed the economy, worry the good times could end under Trump's tariff war

NEW YORK — Johnson & Johnson (NYSE: JNJ) is a compelling buy for conservative, long-term investors in 2026, with analysts maintaining a consensus “Moderate Buy” rating as the healthcare giant delivers steady earnings growth, robust cash flow and one of the longest dividend increase streaks in corporate America. Despite a slower-growth profile than pure biotech names, JNJ’s diversified portfolio, pricing power and defensive qualities make it attractive amid economic uncertainty and market volatility.

Shares have traded in the $148–$155 range in early May, offering a reliable 3.1% dividend yield and 63 consecutive years of dividend increases. The average 12-month price target from analysts sits near $168–$172, implying roughly 10–15% upside. Of roughly 25 analysts covering the stock, the majority rate it Buy or Hold, citing its resilience and capital return discipline.

Johnson & Johnson reported solid first-quarter 2026 results, with adjusted earnings per share of $2.71 beating consensus estimates of $2.58. Revenue reached $22.1 billion, up 6.2% on an operational basis. The Innovative Medicine (pharmaceuticals) segment grew 8.1%, fueled by strong performance from Darzalex, Tremfya, Erleada and other key oncology and immunology products. MedTech sales rose 5.3%, supported by surgical, orthopedics and vision care franchises.

CEO Joaquin Duato highlighted continued momentum across the portfolio and reiterated full-year 2026 guidance, expecting 5–7% adjusted operational sales growth and mid-single-digit adjusted EPS growth. The company maintained its commitment to innovation, with multiple late-stage assets advancing in oncology, neuroscience and autoimmune diseases.

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Key Strengths Driving the Buy Case

Johnson & Johnson’s diversified business model across pharmaceuticals, medical devices and consumer health (via Kenvue) provides stability that few peers can match. Its pharmaceutical pipeline remains robust, with several potential blockbuster drugs in late-stage development. The MedTech segment offers predictable, recurring revenue from surgical tools, implants and vision products, while the company’s massive scale delivers significant pricing power and cost efficiencies.

The balance sheet is fortress-like, supporting both a generous and growing dividend and disciplined share repurchases. JNJ consistently generates strong free cash flow, enabling it to weather economic downturns while continuing to invest in R&D and return capital to shareholders. This combination of growth, income and defensive characteristics makes it a core holding for many institutional and individual investors.

Analyst Consensus and Valuation

Wall Street views JNJ as a high-quality, lower-volatility healthcare name. While not expected to deliver explosive growth like smaller biotech firms, the stock’s forward price-to-earnings multiple in the low-to-mid teens appears reasonable given its predictable cash flows and industry-leading dividend reliability. Several analysts have named JNJ a top defensive healthcare pick for 2026, especially in an environment of potential economic slowdown or higher interest rates.

Risks include patent expirations on key products, ongoing litigation (particularly talc-related cases), and regulatory pricing pressure in pharmaceuticals. However, the company has a long history of successfully navigating these challenges through portfolio management, innovation and legal resolutions.

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Why Buy Johnson & Johnson in 2026

For investors seeking income, stability and moderate growth, Johnson & Johnson offers an attractive package. The stock suits retirement portfolios, dividend growth strategies and those wanting healthcare exposure without excessive volatility. Its global reach, strong brand portfolio and consistent execution provide downside protection in uncertain markets.

Current shareholders have strong reasons to hold or add on weakness. New buyers can accumulate at current levels, which many analysts consider reasonable relative to intrinsic value. Dollar-cost averaging during periods of broader market weakness can further enhance long-term returns. Diversification within healthcare remains prudent, but JNJ stands out for its reliability and capital return discipline.

Long-Term Outlook

Looking ahead, Johnson & Johnson is well-positioned to benefit from aging populations, rising healthcare demand and continued innovation. Management’s focus on high-margin Innovative Medicine and MedTech segments, combined with ongoing cost discipline, supports sustained mid-single-digit growth. The company’s commitment to R&D and strategic bolt-on acquisitions should drive future pipeline success.

As 2026 progresses, JNJ’s quarterly results and updates on key product launches will be closely watched. With solid fundamentals, a proven dividend track record and reasonable valuation, the case for buying and holding Johnson & Johnson stock remains strong for patient investors seeking quality and income in an uncertain macroeconomic environment.

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Johnson & Johnson continues to exemplify blue-chip healthcare investing — delivering reliable returns through economic cycles while investing in the future of medicine. For those prioritizing capital preservation and steady income alongside modest appreciation potential, the stock offers a compelling opportunity in 2026.

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Caseys General Stores stock hits all-time high at 868.0 USD

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Visa Inc Stock Strong Buy in 2026 as Digital Payments Boom and Global Expansion Drive Record Growth

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Visa and Mastercard join major corporations across a range of industries that have halted business in Russia

NEW YORK — Visa Inc. (NYSE: V) remains one of the highest-conviction buys in the financial services sector in 2026, with Wall Street analysts issuing near-unanimous “Strong Buy” ratings as the payments giant continues to benefit from the unstoppable shift toward digital and contactless transactions worldwide. Despite elevated valuations, Visa’s durable business model, expanding network effects and consistent earnings growth make it an attractive long-term holding for both growth and income investors.

Visa and Mastercard join major corporations across a range of industries that have halted business in Russia
Visa

Shares have traded in the $310–$325 range in early May, reflecting solid year-to-date performance supported by steady revenue increases and share repurchases. Analysts covering the stock maintain an average 12-month price target near $355–$370, implying roughly 12–18% upside from current levels. Of more than 35 analysts, virtually all rate Visa a Buy or Strong Buy, with price targets as high as $410 from the most bullish firms.

Visa reported strong fiscal second-quarter 2026 results in April, with revenue rising 9% year-over-year to $9.1 billion and adjusted earnings per share increasing 11% to $2.71. Total processed volume grew 8%, with particularly robust growth in cross-border transactions and e-commerce. The company raised its full-year guidance, citing resilient consumer spending and accelerating adoption of Visa’s value-added services including fraud prevention, consulting and tokenization.

### Key Growth Drivers in 2026

The global shift to cashless payments continues to fuel Visa’s expansion. Digital wallet usage, contactless cards and e-commerce have reached new highs, especially in emerging markets across Asia, Latin America and Africa. Visa’s network processed more than $15 trillion in volume over the trailing 12 months, cementing its position as the dominant player in global payments infrastructure.

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International markets remain a major tailwind. Visa has deepened partnerships with local banks and fintech companies in high-growth regions, while its recent acquisitions and investments in open banking and B2B payments expand its addressable market. The company’s push into stablecoins and blockchain-enabled settlement solutions positions it at the forefront of the next evolution in money movement.

Visa’s diversified revenue streams provide additional resilience. Beyond core transaction fees, the company generates high-margin income from data analytics, cybersecurity services and value-added offerings for merchants and financial institutions. These segments are growing faster than the core business and command premium pricing.

### Analyst Consensus and Valuation

Wall Street enthusiasm for Visa is broad and consistent. Recent reports from firms like JPMorgan, Goldman Sachs and Piper Sandler highlight the company’s pricing power, network moat and ability to compound earnings at mid-to-high single-digit rates for the foreseeable future. Forward price-to-earnings multiples in the mid-20s appear reasonable given Visa’s growth profile, high returns on capital and capital-light business model.

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The stock offers a modest dividend yield around 0.6%, supported by aggressive share repurchases that have reduced outstanding shares by more than 20% over the past decade. This combination of growth and returning capital creates a compelling total return proposition.

### Risks and Considerations

No investment is without risks. Visa faces potential regulatory scrutiny over interchange fees in various jurisdictions, competition from emerging fintech players and the long-term possibility of disintermediation by central bank digital currencies. Geopolitical tensions or a significant global recession could temporarily slow transaction volume growth.

However, analysts generally view these risks as manageable. Visa’s indispensable network position, massive scale and history of adapting to technological changes provide a strong defensive moat. The company has successfully navigated previous disruptions, including the shift to mobile payments and the COVID-19 pandemic.

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### Long-Term Outlook Remains Bright

Looking further into 2026 and beyond, Visa is well-positioned to benefit from several powerful secular trends: continued digitization of payments in developing economies, growth in cross-border commerce, and increasing demand for secure, instant settlement solutions. Management has expressed confidence in sustaining mid-single-digit volume growth with expanding operating margins.

For investors, Visa represents a high-quality compounder with global reach and durable competitive advantages. The stock suits growth-oriented portfolios seeking exposure to consumer spending and digital transformation, as well as conservative accounts looking for stability and modest dividend income.

Those already holding shares have strong reasons to maintain or add on pullbacks. New buyers may find current levels attractive given the company’s consistent execution and favorable long-term fundamentals. Diversification within financial services remains prudent, but Visa stands out for its predictable growth and capital return discipline.

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As 2026 progresses, Visa’s quarterly results and updates on international expansion and new product initiatives will be closely watched. With robust consumer trends, technological leadership and analyst support, the case for buying Visa Inc stock remains highly compelling for patient, long-term investors seeking quality in an uncertain macroeconomic environment.

Visa’s transformation from a simple credit card network to a global payments and technology platform continues to reward shareholders. In a market filled with hype cycles and volatility, Visa offers something increasingly rare: reliable, high-quality growth backed by real economic activity and a nearly unassailable competitive position. For those with a multi-year horizon, the evidence strongly supports buying and holding Visa stock in 2026.

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Cristiano Ronaldo Hits 100 Saudi Pro League Goals as Al-Nassr Moves Closer to Title Glory

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Cristiano Ronaldo

RIYADH, Saudi Arabia — Cristiano Ronaldo reached a historic milestone Wednesday night, scoring his 100th goal in the Saudi Pro League as Al-Nassr defeated Al-Shabab 4-2 in a crucial match that strengthened their grip on the 2025-26 Roshn Saudi League title race. The Portuguese superstar’s clinical finish in the 75th minute not only sealed the victory but also pushed Al-Nassr five points clear at the top of the table with just a handful of matches remaining.

Cristiano Ronaldo
Cristiano Ronaldo

Ronaldo, who joined Al-Nassr in December 2022, achieved the century in just 105 league appearances — an astonishing rate of nearly one goal per game. The 41-year-old now sits on 971 official career goals, just 29 shy of the iconic 1,000-goal mark that has long been his ultimate target. His latest strike came from a low cross by Sadio Mané, which he dispatched with a trademark first-time finish past the Al-Shabab goalkeeper.

João Félix stole some of the spotlight with a hat-trick, but all eyes were on Ronaldo as he celebrated his milestone in front of the traveling Al-Nassr faithful. The win keeps Al-Nassr firmly in pole position, with rivals Al-Hilal trailing by five points after 32 matches played. A victory in the upcoming derby against Al-Hilal could virtually seal the title for Ronaldo and his teammates.

Historic Achievement in Record Time

Ronaldo’s 100 Saudi Pro League goals break down as follows: 14 in 2022-23, 35 in 2023-24, and a remarkable 51 so far in the current campaign. His overall record for Al-Nassr stands at 121 goals in 139 appearances across all competitions, making him one of the most prolific scorers in the club’s history in an incredibly short period.

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The five-time Ballon d’Or winner has transformed Al-Nassr into genuine title contenders since his arrival. Before Ronaldo, the club had gone decades without consistent domestic dominance. His leadership, work rate and relentless goal-scoring have elevated the entire squad, with players like Mané, Félix and others thriving alongside the Portuguese icon.

Title Race Heats Up

Al-Nassr currently sits atop the Saudi Pro League with 82 points from 32 matches (27 wins, 1 draw, 4 losses). Al-Hilal remains the closest challenger with 77 points from 31 games. The upcoming derby clash between the two Riyadh giants on May 12 is expected to be a decisive moment in the season. A win for Al-Nassr would likely put the title beyond doubt.

Coach Luís Castro praised Ronaldo’s mentality after the match. “He is an example for everyone — the way he trains, the way he lives, the way he scores goals at this age. It is incredible,” Castro said. The Portuguese manager also highlighted the team’s collective performance, noting that Félix’s hat-trick showed the depth of attacking talent at the club.

Ronaldo’s Enduring Legacy

At 41, Ronaldo continues to defy expectations. His ability to maintain elite-level performance in a demanding league speaks to his legendary professionalism and physical conditioning. Reaching 100 league goals for Al-Nassr in such a short time cements his status as one of football’s greatest goalscorers, regardless of the competition level.

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The milestone also brings him closer to 1,000 career goals. Ronaldo has repeatedly stated that this personal target motivates him daily. With several matches left in the season and potential appearances in cup competitions, he is well-positioned to achieve the landmark before the end of 2026.

Impact on Saudi Pro League

Ronaldo’s presence has significantly elevated the profile of the Saudi Pro League. His 100-goal milestone generates global headlines and brings increased attention to the competition. The league has attracted numerous world-class talents in recent years, partly due to Ronaldo’s pioneering move, and continues to grow in commercial and sporting stature.

Fans around the world celebrated the achievement on social media, with hashtags related to Ronaldo and Al-Nassr trending worldwide. Many hailed him as the greatest goalscorer of all time, while others marveled at his consistency at an age when most players have retired.

What Lies Ahead

Al-Nassr faces a tough remaining schedule, including the high-stakes derby against Al-Hilal. Ronaldo and his teammates will be motivated to secure the title in front of their home fans if possible. Beyond domestic success, the club also competes in Asian competitions, where Ronaldo’s experience could prove decisive.

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For Ronaldo personally, the focus remains on winning silverware and reaching 1,000 career goals. His journey from Manchester United to Real Madrid, Juventus, and now Al-Nassr has been defined by relentless ambition and record-breaking performances. At a stage in his career when many expected decline, he continues to write new chapters in football history.

As the season enters its decisive phase, all eyes will be on Ronaldo and Al-Nassr. Whether they clinch the Saudi Pro League title or not, his 100-goal milestone stands as another remarkable achievement in an already legendary career. For a player who has never settled for anything less than excellence, the pursuit of more goals and more trophies continues unabated.

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Voices behind the ‘blue curtain’ say California’s one-party rule has failed them

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Voices behind the 'blue curtain' say California's one-party rule has failed them

Speaking to the politicians and leaders who represent Greater Southern California, the state’s deep blue tint isn’t so obvious.

Behind what local leaders call a “blue curtain” of Sacramento’s making, there is a brewing rebellion among the more than 1.1 million registered Republicans — a GOP population larger than that of 40 other U.S. states — and independent voices on the front lines.

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Some say they’re trapped in an “abusive relationship” with a one-party state that has traded the California Dream for radical mandates, leaving families to feel “mugged” every time they pull up to a gas pump.

“We have so much driving that we have to do, especially parents, working people, a lot of people commute because, as you can see, LA County is 4,600 square miles and the inner areas, the places with the most jobs, are the most expensive to live in,” LA GOP Chair Roxanne Hoge told Fox News Digital. Los Angeles County is actually about 4,751 square miles. “Kamala Harris, our former veep, stood in front of a gas station in North Carolina and said, ‘Can you believe this price, $3.97?’ We would love $3.97 here in LA, we’re not seeing that at all.”

‘I JUST PRAY TO GOD’: LOS ANGELES DRIVERS HIT WITH $100 FILL-UPS AS GAS NEARS $9

“This is a topic everyone is talking about because this affects not only the gas prices, but food prices and everything, the whole entire economy… I can feel it in my own pocketbook,” Los Angeles City Council member John Lee, the only elected non-Democrat in the city, said when asked what his constituents are telling him about the high costs of California. “I can see it in my family when we go to the grocery store that the prices are more expensive… Historically, California has always been either the [first]- or second-most expensive price of gas in this country, and that is because of the highest taxes and fees that we put on as a government.”

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Governor Gavin Newsom and cracked California flag

Under the leadership of Gov. Gavin Newsom, current Republican and Independent city leaders criticize the “one-size-fits-all” policies serving a gut punch to the middle class. (Getty Images)

For the average Californian, a trip to the pump isn’t just an errand, but also a financial hit critics say is driven by state legislators. California’s local and state gas taxes and environmental regulations add roughly $1.50 per gallon to the national average, and are reportedly linked directly to the state’s one-party dominance and the lack of political diversity in leadership.

“The real reason for the super high prices is really because of the taxes and the regulatory situation,” Chapman University professor of urban studies Joel Kotkin said. “We’ve done something absolutely astounding. We had a thriving oil industry in California. California was one of the big exporters of oil in the 30s and 40s. We have a lot of oil potential, but the problem is we have an administration that consistently has been trying to destroy the industry, particularly under [Gov. Gavin] Newsom.”

“I’m neither a Republican nor a Democrat – are there enough people to say, hey, this is what’s really happening? I mean, two things can be happening at the same time. You can have, on paper, a booming economy with lots of wealth being created, and you can still have the highest rate of poverty, highest rate youth unemployment, highest unemployment rate. You can have a whole cascade of terrible things going on, even though a small group of people are making money,” Kotkin continued.

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The professor added that “the problem is we are a one-party state now… If you take a place like Orange County, where it’s basically 50-50, the parties have to be responsive to some extent. You can’t go crazy. You can’t be a far-left Democrat or a far-right Republican and do too well in Orange County. You have to moderate to some extent. In California, there’s no need to moderate.”

It’s the very struggle Lee and Hoge face in their positions, especially when pushing back on Newsom-backed laws like AB X2-1, which allows the California Energy Commission (CEC) to set minimum inventory levels for refiners, and SB X1-2, which implemented oversight on oil refinery profits — as well as the infamous clean electricity grid and electric vehicle mandates.

Gov. Gavin Newsom’s office declined an interview with Fox News Digital and directed questions to the CEC, which said AB X2-1 and SB X1-2 saved Californians $9.3 billion compared to 2022, and that the recent price hikes are “a direct result of global oil market disruption driven by the war in Iran and the effective closure of the Strait of Hormuz.”

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“They’re going to have to show me where we are saving money. I don’t care what any spreadsheet is telling them, but all you have to do is look up at the price of gas and ask any person in the city of Los Angeles, do they feel that the price is going down?” Lee, who recently filed a resolution asking state lawmakers to temporarily suspend the gas tax, said.

“People of the 12th District elected me to represent them in City Hall because I am that independent voice. I am that voice that does not have to look at any other person, other than to the people that I represent, to tell me what is best to serve them,” Lee said. “The easiest way is for Sacramento to reduce some of the fees and taxes that they put on energy costs. And if we could do that, that would provide the most immediate relief to our families, which is desperately needed by them right now.”

THE $1,600 LETTUCE: CALIFORNIA GROWERS WARN OF ‘MASTER PLAN’ STRANGLING FAMILY FARMS

Hoge agreed: “They could repeal the gas tax, just suspend it for a while. That would save us a lot of money… The sad truth is that California is sitting on unbelievable oil and gas energy reserves. And that we could pump and refine our own gas right here. We should be like Alaska, where citizens get checks because we are selling so much oil to the rest of the country and the world. And we’re not. And that lays squarely at the feet of the Democrats in Sacramento.”

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“What happens in California does not stay in California. The crazy bills that are passed, whether it’s CAFE standards or nutty equity requirements for education or gas standards and electric car mandates, they’re all coming for you.”

– Roxanne Hoge

“Sacramento has a million and one ways to plug the holes that they have caused. By the way, they’re not just running behind on their budget and their revenues. They have an unfunded pension liability that is like a sword of Damocles that is well over a trillion dollars at this point. They are completely enumerate[d] and economically illiterate,” she said.

The disconnect with California’s high-profile politicians translates into other topline issues, like recovery efforts from the Palisades and Eaton fires. Douglas Elliman agent Cory Weiss helped relocate more than 30 families after losing their homes and, two weeks after the fires, saw Los Angeles Mayor Karen Bass dining at the same steakhouse as him.

“I said, you know, ‘You let us down.’ I think she thought I was going to say hello and congratulate her. She didn’t know who I was. And I said, ‘Look, I just helped 30 families that have been displaced and you’re here having a steak dinner, you’ve let us down.’ And she just gave me a blank stare and… just kept shaking her head… I didn’t see any remorse,” Weiss recalled.

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“I would say that I am critical of our current mayor,” Weiss said. “There’s been no accountability, no real path forward, no bringing the community together. I’m really surprised that there has not been more community events that weren’t politically driven, and, ‘we’re all in this together.’ And that is, to me, what’s really sad.”

Bass’ office did not respond to multiple requests for an interview with Fox News Digital.

“I think the demographic forces are pushing California’s basic politics towards a further left perspective,” Kotkin warned. “When you wipe out whole industries and people feel, ‘Well, building things isn’t going to get me anywhere,’ you’re going to have a politics that is more interested in giving money to the teachers union than creating blue collar jobs.”

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“The Republicans have given up California. And, again, I’m not a Republican,” the professor reiterated, “but I would wish we had a two-party system, because if you have a one-party, it’s very hard to change anything, and nobody is accountable.”

“So many people around the country go, ‘Oh, California, you get what you deserve.’ No, we don’t. There are plenty of us fighting here behind the blue curtain who are doing our best and trying to vote and to speak up and to put our necks out to run for office,” Hoge said. “But more importantly, what happens in California does not stay in California. The crazy bills that are passed, whether it’s [Corporate Average Fuel Economy] standards or nutty equity requirements for education or gas standards and electric car mandates, they’re all coming for you. We’re such a big state by population that all those mandates are being taken up by producers. Whether you live in a ruby red state or not, you’re going to suffer if you don’t help us out.”

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“We are the second-largest city in the greatest country in the world, and we are the big economic engine of the state of California, which is one of the largest economies in the world. You would think that Sacramento would pay attention to us a little bit more, and understand the differences between a city down here and maybe a city up there. Unfortunately, Sacramento loves to come up with these one-size-fit-all type of legislation that just don’t work,” Lee said. “And so, yes, it’s very frustrating. It’s very frustrating when they just take this approach without consulting with us, without talking to us, without getting our input. And so when we put in legislation like I did to request this [suspension], I’m hopeful that someone will take it up. At the same time, I don’t have control over that.”

“I think that we have the voice of being the city of Los Angeles, and I think these council members and our mayor and, including myself, we need to be putting more pressure,” the councilman said. “My colleagues, I know that they are feeling the same pinch, too, that they are understanding that their constituents are hurting as well. So I think that they need to express their voice, raise their voice and to make sure that they’re expressing their frustrations with what’s going on and how their constituents are feeling right now.”

“I think the American Dream is still alive, the California Dream is alive, but I think that we need to be able to be flexible and take a look at different ways… to provide these things to our city.”

This is Part 3 of Fox News Digital’s series, “Golden State strain: Inside California’s economic nightmare.” For Part 4, we travel to San Diego to speak to struggling small businesses and a multi-billion-dollar lending company to see how skyrocketing energy overhead is suffocating the local economy.

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Keebler adds to Chips Deluxe cookie lineup

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Keebler adds to Chips Deluxe cookie lineup

Two new products and one reformulated product.

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Fitness wearable Whoop to offer on-demand clinician access in U.S.

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Fitness wearable Whoop to offer on-demand clinician access in U.S.

Whoop fitness wearable.

Courtesy: Whoop

Wearable fitness tracker Whoop announced on Friday it will introduce in-app access to on-demand licensed clinicians for users in the United States.

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The new feature comes alongside a suite of health and artificial intelligence-driven features launching globally that will allow users to connect their continuous biometric data with medical guidance in real time.

Many of the new features are included in the price of membership, though live video consultation for U.S. users will come at an additional cost. Pricing and details will be available when that option launches this summer, according to the company.

“Whoop is a membership, and we take that seriously,” said Ed Baker, chief product officer of Whoop, in the press release. “We’re always asking how we can deliver more value to our members, and these upcoming features are some of the most meaningful we’ve ever built.”

Whoop, which has over 2.5 million users globally, closed a $575 million funding round in March that raised the company’s valuation to $10.1 billion, it said.

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Medical consultations will begin with a comprehensive evaluation of data collected by the device and, when available, blood work and medical history, the company said in its release.

A spokesperson told CNBC the video consultation feature is designed to complement a user’s existing care, not replace a primary doctor or emergency service. The company declined to comment on whether the service would be capable of providing users with prescriptions.

“As our data and coaching insights have become more advanced and personalized, the next step is giving members access to a comprehensive understanding of their overall health,” Whoop CEO Will Ahmed told CNBC.

The update also includes a partnership with health records keeper HealthEx. Users will be able to keep track of diagnoses, medications and procedures directly within the Whoop app and receive AI-powered personalized coaching and proactive check-in reminders.

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It comes less than a year after the U.S. Food and Drug Administration sent Whoop a warning letter over its Blood Pressure Insights feature. The FDA said Whoop was marketing an unauthorized medical device intended to diagnose, cure, treat or prevent a disease.

New FDA guidance issued in January, however, allows optical sensing blood pressure measurements in wellness devices, provided they make no “medical-grade” diagnostic claims.

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Cipher Pharmaceuticals Inc. (CPH:CA) Q1 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Cipher Pharmaceuticals Inc. (CPH:CA) Q1 2026 Earnings Call May 8, 2026 8:00 AM EDT

Company Participants

Craig Mull – Interim CEO & Chairman of the Board
Ryan Mailling – Chief Financial Officer
Bryan Jacobs – President

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Conference Call Participants

Maximillian Czmielewski
Andre Uddin – Research Capital Corporation, Research Division

Presentation

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Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Cipher Pharmaceuticals Quarterly Conference Call for the company’s Q1 2026 financial results. [Operator Instructions] As a reminder, this conference is being recorded today, Friday, May 8, 2026. On behalf of the speakers that follow, listeners are cautioned that today’s presentation and responses to questions may contain forward-looking statements within the meaning of the safe harbor provisions of the Canadian provincial securities laws. Forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on such statements.

Certain material factors or assumptions are implied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. For additional information about factors that could cause results to vary, please refer to the risks identified in the company’s annual information form and other filings with Canadian regulatory authorities, except as required by Canadian securities laws, the company does not undertake to update any forward-looking statements. Such statements speak only as of the date made. I would now like to turn the call over to Mr. Craig Mull, Interim Chief Executive Officer of the company. Please go ahead, Mr. Mull.

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Craig Mull
Interim CEO & Chairman of the Board

Good morning, everyone, and thank you for joining us today. Before I begin, I’d like to remind everyone that all figures discussed on today’s call are expressed in U.S. dollars unless otherwise specified. Cipher’s first quarter of 2026 was an extension of our achievements during fiscal 2025. The U.S.-based Natroba business

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