Latest news for Foschini Gr (OTC:FHNGY) Stock

Foschini Group Ltd is a South African fashion retailer. The company mainly offers ladieswear, footwear, accessories, cosmetics and fragrances, kidswear, homewares, sportswear, cellular, and jewelry in South Africa. The Foschini Group is a diverse group with a portfolio of thirty-four fashion and lifestyle retail brands portfolio includes multiple brands such as Home, American Swiss, Sterns, Charles and Keith, Colette, DonnaClaire, Phase Eight, Duesouth, Exact, Fabiani, The Fix, Foschini, G-star Raw, hi, Markham, Mat and May, and Whistles. The Group operates through TFG Africa retail division, TFG London, TFG Australia, and TFG Africa Credit segments. It earns the majority of its revenue from the TFG Africa retail segment.

FOSCHINI GROUP UNSP/ADR by Foschini Group Ltd. (The)

Foschini Group Ltd

Macro Economic Events

News

Econ #s

Economics

Bank of England Interest Rate Decision For September Unchanged At 5.00%

Stock Split

General

BNZI

Banzai International Will Effect A One-for-fifty Reverse Stock Split, Effective At 12:01 A.M., EDT, On September 19

Loop Capital analyst Chris Dankert maintains Regal Rexnord (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRX#NYSE">RRX</a>) with a Buy and maintains $200 price target.

Price Target

Analyst Ratings

Loop Capital Maintains Buy on Regal Rexnord, Maintains $200 Price Target

WIIM

DASH

DoorDash shares are trading higher after BTIG upgraded the stock from Neutral to Buy and announced a $155 price target.

The United States is rapidly falling behind China in preparing for potential conflict, as revealed in recent hearings at the Pentagon. 
What Happened: Two key congressional panels heard that the Pentagon&#8217;s outdated procedures and a crisis-driven public are significant obstacles. Lawmakers from both parties urged Deputy Secretary of State Kurt Campbell to address these issues, the South China Morning Post<a href="https://www.scmp.com/news/china/diplomacy/article/3279059/us-falling-rapidly-behind-china-preparing-next-war-two-congressional-panels-hear?module=top_story&amp;pgtype=homepage"> reported</a> on Wednesday.
House Foreign Affairs Committee chairman Michael McCaul criticized the slow pace of technology transfers to allies, despite legislation intended to expedite the process. Campbell agreed, stating adjustments are necessary for stronger partnerships with Great Britain and Australia.
Democratic congressman Gabe Amo also expressed concerns about delays, to which Campbell responded that contract reviews are the primary cause. He assured that the U.S. would provide essential resources to its allies.
The hearings occurred amid budget disagreements and a delayed defense roadmap. The Commission on the National Defence Strategy&#8217;s recent report called for a larger military and closer ties with allies to counter threats from China, Russia, Iran, and North Korea.
Former congresswoman Jane Harman and former undersecretary of defense Eric Edelman highlighted the need for a more integrated force and a modernized industrial base. Edelman warned of the potential for a global conflict and the risk of losing such a war.
See Also: <a href="https://www.benzinga.com/news/24/09/40894933/kim-jong-uns-north-korea-outranks-china-as-russias-top-ally-in-ukraine-conflict-says-military-intell?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kim Jong Un&#8217;s North Korea Outranks China As Russia&#8217;s Top Ally In Ukraine Conflict, Says Military Intelligence Chief</a>
Campbell emphasized the importance of technology in competition and the need for more tech-savvy personnel in the government. Both committees stressed the significance of alliances to counter China&#8217;s growing influence.
Why It Matters: The warnings from congressional panels come amid escalating tensions between the United States and China. Recently, China's ambassador to the United States, Xie Feng,<a href="https://www.benzinga.com/news/24/09/40851594/chinese-ambassador-issues-stern-warning-to-us-on-red-lines-taiwan-question-is-the-most-paramount-and"> issued a stern warning</a> to the U.S. regarding interference in China&#8217;s sovereignty, particularly concerning Taiwan. He emphasized that Taiwan is a critical &#8220;red line&#8221; that must not be crossed.
Additionally, the U.S. and its allies have raised alarms over <a href="https://www.benzinga.com/news/24/09/40827572/us-and-allies-raise-alarm-over-chinas-support-for-russias-military">China's support for Russia's military</a>, which is seen as a significant factor in the ongoing conflict in Ukraine. This support includes exports of dual-use goods and battlefield items, which are bolstering Russia's military capabilities.
Earlier this year, McCaul warned that the U.S. House Foreign Affairs Committee has the <a href="https://www.benzinga.com/news/24/05/39037174/us-lawmaker-warns-to-declare-war-on-china-in-case-of-an-unprovoked-attack-on-taiwan">authority to declare war</a> if China attacks Taiwan without provocation. He emphasized that deterrence is crucial to prevent such an outcome, stating, &#8220;If the island in an unprovoked manner was invaded, then it would be to the American people and the United States Congress, and my committee that has the power to declare war, how to deal with that.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40915796/japan-expresses-serious-concerns-as-chinese-aircraft-carrier-enters-contiguous-waters-amid-rising-te?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Japan Expresses &#8216;Serious Concerns&#8217; As Chinese Aircraft Carrier Enters Contiguous Waters Amid Rising Tensions: &#8216;Utterly Unacceptable&#8217;</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

Global

US Lagging Behind China In War Preparedness, Congressional Panels Warn

Loop Capital analyst Yun Kim maintains Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) with a Hold and maintains $270 price target.

Loop Capital Maintains Hold on Salesforce, Maintains $270 Price Target

Loop Capital analyst Mark Schappel maintains Aspen Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZPN#NASDAQ">AZPN</a>) with a Buy and raises the price target from $204 to $260.

AZPN

Loop Capital Maintains Buy on Aspen Technology, Raises Price Target to $260

Full Fiscal Year 2025:
Endava expects revenue will be in the range of &pound;800.0 million to &pound;810.0 million, representing a constant currency revenue increase of between&nbsp;10.0%&nbsp;and&nbsp;11.5%&nbsp;on a year over year basis. Endava expects adjusted diluted EPS to be in the range of &pound;1.12 to &pound;1.17 per share.
This above&nbsp;guidance&nbsp;for the&nbsp;first quarter&nbsp;and full fiscal year 2025 assumes the exchange rates on August 31, 2024 (when the exchange rate was 1 British Pound to 1.31 US Dollar and 1.19 Euro).

Earnings

Guidance

DAVA

Endava Expects FY2025 Revenue Of £800M-£810M Versus Consensus Of £742.01M, Sees Adjusted EPS Of £1.12-£1.17

Stephens &amp; Co. analyst Jim Salera reiterates Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) with a Equal-Weight and maintains $159 price target.

Reiteration

Stephens & Co. Reiterates Equal-Weight on Darden Restaurants, Maintains $159 Price Target

Biotech

Health Care

BTAI

Bioxcel Therapeutics Will Reduce Its Workforce By 15 Employees, Or Approximately 28% Of The Company's Headcount-Filing

First Quarter&nbsp;Fiscal Year 2025:
Endava expects revenue will be in the range of &pound;194.0 million to &pound;195.0 million, representing a constant currency revenue increase of between&nbsp;4.5%&nbsp;and&nbsp;5.0%&nbsp;on a year over year basis. Endava expects adjusted diluted EPS to be in the range of &pound;0.21 to &pound;0.22 per share.
Full Fiscal Year 2025:
Endava expects revenue will be in the range of &pound;800.0 million to &pound;810.0 million, representing a constant currency revenue increase of between&nbsp;10.0%&nbsp;and&nbsp;11.5%&nbsp;on a year over year basis. Endava expects adjusted diluted EPS to be in the range of &pound;1.12 to &pound;1.17 per share.
This above&nbsp;guidance&nbsp;for the&nbsp;first quarter&nbsp;and full fiscal year 2025 assumes the exchange rates on August 31, 2024 (when the exchange rate was 1 British Pound to 1.31 US Dollar and 1.19 Euro).

Endava Expects Q1 2025 Revenue Of £194M-£195M Versus Consensus Of £195.668M, Sees Adjusted EPS Of £0.21-£0.22

Chinese e-commerce juggernaut Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), also considered a barometer for the country's tech industry, is up in Thursday's premarket trading following the U.S. Federal Reserve lowering its benchmark interest rate to spur demand.
The U.S. Fed slashed the lending rate by 50 bps, lowering the central bank's benchmark rate to between 4.75% and 5%
Alibaba's domestic peers PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), JD.com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), and Baidu, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) stocks are also up.
<a target="_blank" href="https://in.benzinga.com/markets/equities/24/09/40932103/it-stocks-on-the-rise-after-u-s-fed-cuts-interest-rate" rel="noreferrer noopener">Analysts expect the interest</a> rate cut to drive growth in discretionary spending from U.S. companies. It could also boost Chinese companies that are invested in integrating capital-intensive artificial intelligence technology into their different businesses, including e-commerce, logistics, cloud, and more, to drive growth despite the U.S. sanctions on advanced technology.
Beaten-down Chinese electric vehicle stocks, including NIO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), XPeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), and ZEEKR Intelligent Technology Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>), are also up Thursday. AI technology is also an indispensable part of their progress.
Meanwhile, China <a target="_blank" href="https://www.benzinga.com/government/24/09/40923879/chinas-ymtc-makes-strides-in-chip-production-substitutes-asml-lam-research-tech-as-us-sanctions-bite" rel="noreferrer noopener">needs help finding</a> solutions to the U.S. technology embargo through domestic chipmakers like Yangtze Memory Technologies Co. However, Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI chips are still making their way into China via illegal routes and tweaking other countries' export rules.
Meanwhile, Alibaba's cloud unit will host its annual tech event, Aspara Conference 2024, to discuss the future of artificial general intelligence (AGI). Key speakers at the event include Alibaba and cloud unit chief Eddie Wu Yongming and XPeng founder He Xiaopeng, SCMP <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3279005/alibaba-cloud-kick-annual-aspara-tech-event-focus-ai?module=perpetual_scroll_0&amp;pgtype=article" rel="noreferrer noopener">reports</a>. Autonomous driving and humanoid robots will be major topics at the Aspara main forum. Moonshot AI, StepFun, and Shengshu Technology AI start-ups will likely share their large language model (LLM) experiences.
Alibaba showcased 100 open-source artificial intelligence models catering to applications and sectors ranging from automobiles to gaming and science research, CNBC <a target="_blank" href="https://www.cnbc.com/2024/09/19/alibaba-launches-over-100-new-ai-models-releases-text-to-video-generation.html" rel="noreferrer noopener">cites</a> Alibaba from the event.
The <a target="_blank" href="https://www.benzinga.com/news/24/09/40901862/whats-going-on-with-chinese-ev-stocks-nio-xpeng-li-auto-zeekr-on-tuesday" rel="noreferrer noopener">Chinese stocks got</a> a boost earlier this week from reports indicating People's Bank of China's (PBOC) plans to cut the bank reserve requirement ratio (RRR) by 50 bps, followed by another half-point cut in the first half of 2025.
Price Actions: BABA stock is up 4.11% at $87.89 premarket at last check Thursday. PDD is up 3.27% at $101.44, JD is up 6.50% at $28.67, BIDU is up 3.40% at $87.55, NIO is up 4.78% at $5.25, XPEV is up 5.79% at $9.14, LI is up 2.75% at $21.33, ZK is up 3.63% at $15.71.
Photo via Shutterstock

Government

Regulations

Emerging Markets

Movers

Tech

Media

BABA

BIDU

NVDA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

XPEV

What's Going On With Chinese Tech Stocks Like Alibaba, PDD On Thursday?

The program aims to re-engage patients with the healthcare system, delivering essential care to underserved communities in Sacramento, San Diego, Riverside, Los Angeles, San Bernadino, and Orange County through a partnership with a top 10 national insurance provider.

DCGO

DocGo ExpandsProgram To Enhance Healthcare Access For California Medi-Cal Enrollees/Patients/Members

ARQQ

Arqit Quantum Has Determined To Effect A 25:1 Reverse Share Split, Effective September 25

Endava (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAVA#NYSE">DAVA</a>) reported quarterly earnings of &pound;0.22 per share&nbsp;a 61.4 percent decrease over earnings of &pound;0.57 per share from the same period last year. The company reported quarterly sales of &pound;194.418 million which missed the analyst consensus estimate of &pound;195.668 million by 0.64 percent. This is a 2.44 percent increase over sales of &pound;189.791 million the same period last year

Endava Q4 2024 Adj. EPS £0.22 May Not Be Comparable To £22.62 Estimate, Sales £194.418M Miss £195.668M Estimate

Per the terms of the Proposed Acquisition, Psyence Biomed will issue to Psyence Group shares of its common stock valued at&nbsp;$1.1 million&nbsp;dollars, at a price of&nbsp;$0.55&nbsp;per share, in exchange for Psyence Group&#39;s&nbsp;11.13%&nbsp;stake in PsyLabs.

Psyence Biomedical Enters Agreement With Psyence Group For Acquisition Of 11.13% Stake In Privately-held PsyLabs For About $1.1M

Roth MKM analyst Matt Koranda downgrades Vista Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTO#NYSE">VSTO</a>) from Buy to Neutral and maintains the price target from $42 to $42.

Downgrades

VSTO

Roth MKM Downgrades Vista Outdoor to Neutral, Maintains Price Target to $42

Bioxcel Therapeutics Announced Its Clinical Prioritization, While Deprioritizing Sales Efforts For Its Approved Drug Igalmi (Dexmedetomidine) Sublingual Film. The Company Plans To Maintain Igalmi In The Market Without Its Current Commercial Infrastructure

Roth MKM analyst Scott Fortune initiates coverage on Turning Point Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPB#NYSE">TPB</a>) with a Buy rating and announces Price Target of $50.

Initiation

Roth MKM Initiates Coverage On Turning Point Brands with Buy Rating, Announces Price Target of $50

Larimar Therapeutics, Inc. - Common Stock

LRMR

Larimar Therapeutics Announced That Data From Its Nomlabofusp Phase 1 Studies And Phase 2 Dose Exploration Study, Some Of Which Has Been Previously Disclosed, Will Be Presented At The Annual International Congress For Ataxia Research

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Foschini Gr

News

Latest news for Foschini Gr (OTC:FHNGY) Stock