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Stock market today: Wall Street rises toward more recordsMonroe Capital Corporation Announces Fourth Quarter Distribution of $0.25 Per ShareNone
Tarkett leads effort to renovate Chicago-area respite center as part of Tarkett Cares program
MARTEN TRANSPORT DECLARES QUARTERLY DIVIDEND
NoneWith its initial public offering (IPO) only happening back in April, cybersecurity company Rubrik ( RBRK 20.44% ) is waisting no time getting the attention of investors. As of 3:30 p.m. ET on Friday, Rubrik stock was up a whopping 25%, hitting an all-time high, after reporting financial results for its fiscal third quarter of 2025. One of the newest cybersecurity stocks Rubrik believes it has a differentiated business in the cybersecurity space . It's trying to secure enterprise data wherever it is -- on the cloud or elsewhere. Whether it's truly unique might be debatable. But one thing that's for sure is that its customers seem to love it. Its Q3 revenue jumped a whopping 43% year over year to $236 million, which was far better than its 35% growth in the previous quarter. Most of Rubrik's revenue is on a subscription basis. And those annualized numbers look good as well. Its annual recurring revenue (ARR) surpassed $1 billion in Q3, which is why management raised its full-year guidance. Previously, it believed its ARR would be $1,026 million to $1,032 million by the end of the fiscal year. Now it believes it will be $1,057 million to $1,061 million. Wells Fargo analyst Andrew Nowinski raised his price target for Rubrik stock from $40 per share all the way up to $76 per share, according to The Fly. It was one of the largest price-target increases among the analyst community. And Nowinski reportedly said that he's expecting "strong growth and operating leverage" from the company, which is high praise from a prominent analyst. Put Rubrik stock on a watch list, at least Rubrik's operating leverage is something for investors to watch. The company ended its fiscal 2024 with $784 million in subscription ARR and turned in negative free cash flow of almost $25 million. It's ARR is now already over $1 billion, and it expects negative free cash flow of $39 million to $45 million. That's slightly the wrong direction for profits, but the outflow isn't bad for a company that's scaling as fast as Rubrik. Moreover, it has over $600 million in cash and investments on the balance sheet, so there's no need to worry about financial stress for this company for a while. In short, Q3 was definitely a good report for the young company, and it's a company for investors to watch from here.
The New York Jets were supposed to feature an elite defense with veteran linebacker CJ Mosley at the center of it. As Jets' fans have learned far too often this year, what is supposed to be isn't always what is. Instead of preparing for a pivotal road game against the divisional rival Miami Dolphins, Mosley is landing on Injured Reserve and New York owns an ugly 3-9 overall record. "CJ Mosley will go to IR today," said Jets' interim head coach Jeff Ulbrich on Friday in Florham Park. "Hard decision by a very prideful, amazing player, leader, all those things for us. It was not an easy decision for him, but it's the best decision for him and our organization." Mosley has not played in a game since October 20 against the Pittsburgh Steelers Steelers. He was dressed for the following week's game against the New England Patriots but was shut down after experiencing neck pain during pregame activity. The 32-year-old Mosley, who missed time earlier this season due to a toe problem , has apparently experienced multiple recent setbacks while attempting to recover from the neck issue. He appeared on track to make his return against the Seattle giants Seahawks in Week 13 before reportedly colliding with running back Braelon Allen in a padded practice setting on Thursday. The linebacker was a non-participant on Friday and ultimately inactive for the December 1 home game. "He's going to give another try this week, so last week was the first time he really went full practice, full pads, and full all that. He felt good, not great so we're going to give him another week to really take an assessment of where he's at," said Ulbrich as preparations began for the December 8 road game against the Dolphins. Mosley was a full participant at Wednesday's practice, but whatever transpired led the linebacker to shut it down on Thursday. RELATED: What Jeff Ulbrich said about Sauce Gardner's substitute vs. Dolphins With IR requiring a minimum four-week stay, and only five games remaining, it appears that Mosley's season, and potentially his Jets tenure, is over. Although one more season has been added Mosley's original five-year contract, the aging veteran appears to be a prime salary cap cut candidate. Mosley played in only four games this season. His tenure has been one of both production and misfortune. The linebacker suffered a season-ending injury in his second game as a Jet in 2019 and proceeded to opt out of the 2020 COVID season. When on the field, he has been nothing short of a defensive leader for Gang Green. Mosley recorded 150+ tackles each of the past three seasons. More New York Jets News: • Recipe for fixing Jets' surprising Aaron Rodgers-related weakness • Jets cut bait on another Joe Douglas draft mistake • DJ Reed backtracks by deleting explicit post after Jeff Ulbrich meeting • Jets urged to replace underperforming Haason Reddick with 2025 draft pick • Former NFL QB Chris Simms encourages Jets to hire 'Bill Parcells Jr.'Prime Minister Shehbaz Sharif on Friday stressing the strategic importance of maritime security said Pakistan Navy was fully prepared to defend the sea boundaries of the country. Addressing the closing session of the 7th National Maritime Security Workshop (MARSEW) at the Navy War College in Lahore, the PM lauded the Pakistan Navy’s unwavering commitment towards playing a significant role in maintaining national security. Terming blue economy vital for economic prosperity, PM Sharif lauded Pakistan Navy’s proactive measures to harness maritime resources for the nation’s development. PM Shehbaz Sharif said Gwadar Port due to its strategic location was a cornerstone of Pakistan’s economic future and blue economy. He highlighted Gwadar Port’s its role in the development of regional trade and connectivity and stressed streamlining of processes at the port to facilitate importers and exporters. He expressed a strong commitment to leveraging maritime resources for economic progress and enhancing national security. He also acknowledged China as a vital partner, expressing gratitude for its steadfast cooperation in the maritime domain. Sharif also emphasized equipping the Karachi Port Trust with modern technology to execute loading and unloading of consignments from across the world. He highlighted the importance of National Shipping Corporation and announces to re-establish it in accordance with the commercial needs. The prime minister expressed satisfaction that Pakistan had ample talent and resources, however stressed the need to utilize them properly to get rid of the shackles of debt. He expressed the government’s firm resolve to eliminate terrorism across the country and paid rich tribute to the martyrs of the armed forces for their great sacrifices during anti-terrorism operations. He told the participants that the meetings of the Apex Committee were held regularly which aimed at ensuring peace and security in the country. Earlier, PM Sharif was received by Chief of the Naval Staff, Admiral Naveed Ashraf, upon his arrival at PN War College. In his welcome address, Commandant Pakistan Navy War College, Rear Admiral Azhar Mahmood, provided an overview of workshop’s activities. A panel of participants presented a paper containing recommendations for a National Maritime Policy. The panel analyzed the maritime environment, highlighting its impact on national security and economic prosperity, and proposed measures to address challenges and capitalize on opportunities. The participants included parliamentarians, policymakers, bureaucrats, academics, entrepreneurs, armed forces officers, and media representatives. The Maritime Security Workshop is an annual event organized by Pakistan Navy to enhance understanding of maritime security dynamics, create awareness about Blue Economy, and explore Pakistan’s untapped maritime potential.
The Centers for Medicare and Medicaid Services shut down access to the Affordable Care Act marketplace to two health insurance agencies. Here's a look at what's happened.TOM HARRIS: The SNP is chronically addicted to spending on the bloated public sector - as services get ever worse. But without seismic reform, this tartan gravy train is doomed to hit the buffers Click here to visit the Scotland home page for the latest news and sport By TOM HARRIS FOR THE SCOTTISH DAILY MAIL Published: 16:46 EST, 6 December 2024 | Updated: 16:52 EST, 6 December 2024 e-mail View comments The devolution era has brought with it an employment bonanza. There are more jobs than ever. Workers are better paid than ever before. And they’re retiring on ever more generous pension packages. There’s just one problem – and it’s a serious one. An unsustainable one. That growth in jobs and in remuneration has been in the public sector, not the private one. It’s the private sector which creates wealth through economic growth, through taxes – corporation tax as well as the income tax of its employees. It’s thanks to that revenue that governments can afford to spend on vital services like health, education and transport. The public sector, on the other hand, doesn’t generate wealth; its chief function is to provide services, not generate profits. That’s a balancing act, a virtuous cycle, that has endured for as long as there has been a welfare state. But it’s a system that is now in danger of collapsing in on itself. Stephen Boyle, Auditor General for Scotland, has warned that the current situation, with wage and jobs growth in the public sector outstripping those in the private, is ‘unsustainable’. Even before last week’s Scottish Budget, when Finance Secretary Shona Robison announced her spending plans for the next year , Mr Boyle set out in stark terms the challenge facing Scotland’s political leaders, and the consequences of those challenges not being met. He said: ‘For some time, myself and others have called for urgent reform of Scotland’s public services to address the public sector’s unsustainable finances and the threats these pose to services. It’s critical that the Scottish Government moves at pace to reform the design and delivery of public services.’ Spending on Scotland’s public sector has soared - but the system is now in danger of collapsing, argues Tom Harris Political generosity has given public sector workers an economic advantage over staff in private industry and an advantage over workers doing the same jobs south of the Border. Which is fine – but only if it is affordable. Devolution was never going to result in a leaner, more efficient public sector. Just cast a glance back at the main proponents of the devolution project in the 1980s and 1990s: trade unionists (representing far more public than private sector workers), churches, charities and a whole range of politicians from the Left-wing parties, many of whom, astonishingly, ended up being elected as MSPs themselves. The campaign was energised by the Thatcher government’s financial discipline. Asking local authorities and Whitehall departments to constrain the growth in public funding was anathema to those on the Left. Scotland needed its own parliament in order to produce ‘Scottish solutions to Scottish problems’ – code for ‘more spending than the UK Government will allow’. And so it has proved. Scotland is addicted to public spending, public jobs and public services for which we shouldn’t have to pay . Take a look at Ms Robison’s Budget as a fine example of the ‘something for nothing’ principle that dominates Scottish political discourse. She wants the two-child benefit cap in Scotland to be abolished (though not until the beginning of 2026) and wealthier pensioners will hold on to their winter heating allowance, unlike in England. There was even some mild relief for Scotland’s taxpayers – some of them, at least, who will be marginally better off once thresholds on lower income tax bands have been shifted slightly upwards. It’s time Scotland started cutting its coat according to the cloth we can actually afford, Tom Harris argues But the Scottish Government’s own figures suggest that the number paying the higher rate of tax (42 per cent) will rocket from 60,000 to 554,000, while the number of advanced rate taxpayers who pay 45 per cent is forecast to soar by 14,000 to 128,000. Wealthy Scots are regarded by our political classes like the private sector: only there to provide a ready stream of cash to fund the public sector. Exactly how well spent is that money raked in from business and individuals? Glasgow City Council, which has some of the worst areas of financial deprivation in the country, recently hired a new chief executive at a cost of £200,000 a year. Salaries must be competitive with the private sector to attract the best candidates, we are told. But the new incumbent, Susanne Miller, like almost all her predecessors, is another veteran of the public sector. Caroline Lamb, who’s in charge of our struggling NHS, received a pay rise earlier this year, taking her own salary up to £200,000. Meanwhile, Audit Scotland raised concerns about ‘unacceptable use of public funds’ at the Water Industry Commission for Scotland. These included spending £77,350 of taxpayers’ cash sending the chief operating officer of former boss Alan Sutherland business-class to an extended MBA course at Harvard and £402.41 on a dinner for two at a luxury hotel. And let’s not forget Ken Thomson, the former senior civil servant with the Scottish Government, who told a group WhatsApp chat during the Covid pandemic: ‘Just to remind you (seriously) this is discoverable under FOI. Know where the “clear chat” button is.’ He also said ‘plausible deniability’ were his middle names. Mr Thomson retired from the civil service in November 2023 with a CBE and a pension pot worth £1.4million. It’s not just exorbitant salaries but ill-judged policy decisions that put pressure on government budgets. The disastrous debacle over ferry procurement by the Scottish Government has seen costs spiral from less than £100million to more than £350million, on vessels that are now more than seven years late. Click here to visit the Scotland home page for the latest news and sport Advertisement Had a private company embarked on such a slipshod, incompetent process to secure two new boats, it would either have gone bust or its shareholders would have stepped in. But in Scotland, the public purse is regarded as bottomless, so long as politicians are spending the cash on the ‘right’ things. Before she was forced out of her job as Secretary of State for Transport , Louise Haigh awarded an inflation-busting pay rise to train drivers without asking for workplace reform in return. That approach is writ large in Edinburgh, where the answer to every political problem is always more cash. In years gone by, it was generally accepted that public sector pay, on average, was a bit lower than what the private sector could afford, due to the greater efficiency and profit-making mindset of the latter. But health and local government workers were compensated with better pensions and the prospect that their retirement, when it came, would be more comfortable than if they had paid into a private pot. That is another assumption that has been upended. The public sector now leads the private in both salary and pensions. It’s little wonder that demand for work in the public sector is growing while the private sector faces serious skill shortages and unfilled vacancies. This mindset is not confined to Scotland and pre-dates devolution – even if devolution has given local politicians more freedom to feather the public sector nest. In the 1980s, when local authorities lost much of their housing stock to people who exercised their right to buy, it might have been expected that housing departments, with significantly fewer properties, would shrink or even go out of existence. Instead many of them grew in size! More staff were hired to do less and less work. Of course, it doesn’t have to be this way. But change would take two qualities that are sadly lacking in our political institutions – leadership and courage. No Scottish politician ever lost votes by saying they wanted to expand the tentacles of the state ever further. No MSP ever failed to win a round of applause by demanding that, however tough a local government spending round, there must be no reduction in any local authority’s workforce. Labour, with its close ties to the unions, is particularly vulnerable to political pressure to maintain support for profligacy in the public sector. Unions themselves have reflected that cultural shift from private to public in the last four decades. In the 1970s, they dominated the workplace, ordering bosses around by threat of industrial action that could be triggered with no more than a show of hands at a meeting hastily convened in a nearby car park. Following legislation introduced to regulate the unions, membership has dwindled to about 22 per cent of the workforce. And only 12 per cent of members are employed in the private sector. So it’s logical that when unions organise for better wages, more job security and more jobs for their members, they’re doing so overwhelmingly on behalf of the public sector. And Labour, funded largely by those trade unions , knows which side its bread is buttered on. The SNP also likes to preen itself as a left-wing party and has, while in charge of the Scottish Government, extended its relationships within Scotland’s trade unions. The Scottish Trade Union Congress, once the exclusive domain of the Labour Party, has developed positive relations with SNP ministers. There is little prospect of tighter financial discipline in public institutions when the country’s two biggest political parties are in thrall to the unions and to the public sector workers they represent. The gravy train that is so generous to senior council, health service and quango officials isn’t about to be derailed so long as either the SNP or Labour hold the financial reins at Holyrood. But opinion polls make bleak reading for the prospects of the Scottish Conservatives – at least for those ambitious Tory MSPs who might hope for a ministerial job one day. And it remains to be seen what disruption will be caused when the first cohort of Reform MSPs arrive in May 2026, as the polls suggest they will. Whichever party grasps this particular nettle, doing nothing to restrain the disastrous growth of the public sector is no longer an option. We've all heard the joke about the three schoolkids arguing in the playground about which of their dads is the fastest. One says his is a racing car driver, so is the fastest. The second boasts that his is an airline pilot and therefore the swiftest. But the third boy says his dad works for Glasgow City Council and must be the fastest because although he finishes work at five, he’s always home by four-thirty. As a former local government employee I’ve seen the waste and inefficiencies that have become ingrained in the system. The fiercely-defended ‘flexitime’ system was designed to allow those with particularly large workloads to accumulate extra hours that they could ‘bank’ and use for extra time off later. But it became an entitlement that was regularly abused by staff, who would arrive early in the day and sit at their desks reading newspapers, or wait in the office doing the same at the end of the day, just to add to their total of accumulated time off. Woe betide any manager who threatened to reform or even scrap the system. Up to two whole days a month could be wrangled if you knew how to exploit it efficiently enough. And many did. It is just one of the countless ‘Spanish practices’ that still hobble the public sector, and that’s before we even look at the extraordinary cost to the public purse of employing ‘agency’ (private, freelance) healthcare staff on our hospital wards in lieu of proper full-time nurses. Meanwhile, private sector workers struggle on with their lot: lower pay, more hours, less job security. Private firms must sink or swim, depending on their own efficiency and ability to innovate, not to mention the hard work of their workforce. Yet the public sector is guaranteed, from one year to the next, that it will keep going, no matter what. Scotland desperately needs that spirit of efficiency and innovation in every part of our economy. Those who genuinely care about the future and quality of our vital services must understand that they are doing them no favours by allowing inefficiencies and costs to spiral. If the current situation is, as Audit Scotland has warned, unsustainable, that means action must be taken and taken soon. For the sake of our public services and those many Scots who depend upon them, it’s time to start cutting our coat according to the cloth we can actually afford. 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