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Fuji Oil Co Ltd is engaged in the business of importing crude oil, refining of oil and production, processing, storage, export, and sales of petroleum products and petrochemical products. Japan generates maximum revenue for the company.

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Fuji Oil Co Ltd

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the financials sector.
<h3 class="wp-block-heading">Invesco Mortgage Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVR#NYSE">IVR</a>)</h3>
<ul>
<li>Dividend Yield: 17.51%</li>
<li>JMP Securities analyst Trevor Cranston reiterated a Market Perform rating on Aug. 28. This analyst has an accuracy rate of 64%.</li>
<li>UBS analyst Douglas Harter initiated coverage on the stock with a Neutral rating and a price target of $8 on Dec. 6, 2023. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On Aug. 8, the company posted a second-quarter net loss per common share of 38 cents per share, versus net income of 49 cents per share in the first quarter of 2024.</li>
<li>Benzinga Pro's real-time newsfeed <a href="https://pro.benzinga.com/dashboard">alerted to latest IVR news</a></li>
</ul>
<h3 class="wp-block-heading">AGNC Investment Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>)</h3>
<ul>
<li>Dividend Yield: 13.51%</li>
<li>RBC Capital analyst Kenneth Lee maintained an Outperform rating and raised the price target from $10 to $11 on Aug. 16. This analyst has an accuracy rate of 68%</li>
<li>Keefe, Bruyette &amp; Woods analyst Bose George maintained an Outperform rating and raised the price target from $10 to $10.25 on July 25. This analyst has an accuracy rate of 72%.</li>
<li>Recent News: On Sept. 13, AGNC Investment said its Board of Directors declared a cash dividend of 12 cents per share of common stock for Sept.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://pro.benzinga.com/dashboard">trend in AGNC stock</a>.</li>
</ul>
<h3 class="wp-block-heading">Two Harbors Investment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWO#NYSE">TWO</a>)</h3>
Dividend Yield: 12.78%
<ul>
<li>JMP Securities analyst Trevor Cranston reiterated a Market Outperform rating with a price target of $15 on Aug. 28. This analyst has an accuracy rate of 64%.</li>
<li>JP Morgan analyst Richard Shane maintained a Neutral rating and increased the price target from $12.5 to $13 on July 16. This analyst has an accuracy rate of 68%.</li>
<li>Recent News: On Sept. 18, Two Harbors Investment announced Appointments of Head of Servicing at RoundPoint and Chief Technology Officer.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://pro.benzinga.com/dashboard">breakout in TWO shares</a>.</li>
</ul>

<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Read More: 
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40925678/fedex-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-an">FedEx Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
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News

Dividends

Price Target

Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

AGNC

Wall Street's Most Accurate Analysts Give Their Take On 3 Financials Stocks With Over 12% Dividend Yields

7 analysts have shared their evaluations of Myriad Genetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYGN#NASDAQ">MYGN</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $30.0, a high estimate of $35.00, and a low estimate of $20.00. Observing a 17.65% increase, the current average has risen from the previous average price target of $25.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1726747212_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The perception of Myriad Genetics by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tejas Savant</td>
<td>Morgan Stanley</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$32.00</td>
<td>-</td>
</tr>
<tr>
<td>Brandon Couillard</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Overweight</td>
<td>$35.00</td>
<td>-</td>
</tr>
<tr>
<td>Sung Ji Nam</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$34.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>John Peterson</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$30.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Dan Brennan</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$30.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Rachel Vatnsdal</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$20.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Sung Ji Nam</td>
<td>Scotiabank</td>
<td>Announces</td>
<td>Sector Outperform</td>
<td>$29.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Myriad Genetics. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Myriad Genetics compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Myriad Genetics's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Myriad Genetics's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/MYGN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Myriad Genetics analyst ratings.</a>
<h2>Get to Know Myriad Genetics Better</h2>
Myriad Genetics is a molecular diagnostics company that provides testing services designed to assess an individual's risk of developing a disease. The firm produces MyRisk, a 48-gene panel with the capability to identify the elevated risk of developing 11 types of cancer. Other diagnostic products include BRACAnalysis CDx, the FDA-approved companion diagnostic for PARP inhibitors; GeneSight, which helps improve responses to psychotropic drugs for patients suffering from depression; and Prequel, a noninvasive prenatal test. Precise Oncology Solutions, launched in 2022, combines Precise Tumor with companion diagnostic and prognostic tests such as MyChoice CDx, Prolaris, and EndoPredict. The firm offers biomarker discovery and companion diagnostic services to pharma and biotech companies.
<h3>Financial Insights: Myriad Genetics</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Myriad Genetics displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 15.26%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Health Care sector.
Net Margin: Myriad Genetics's net margin is impressive, surpassing industry averages. With a net margin of -17.35%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Myriad Genetics's ROE stands out, surpassing industry averages. With an impressive ROE of -4.89%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -3.34%, the company showcases effective utilization of assets.
Debt Management: Myriad Genetics's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.19, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>Analyst Ratings: Simplified</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

MYGN

Analyst Expectations For Myriad Genetics's Future

Oppenheimer analyst Timothy Horan maintains T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) with a Outperform and raises the price target from $200 to $215.

TMUS

Oppenheimer Maintains Outperform on T-Mobile US, Raises Price Target to $215

<a href="https://www.microchip.com/en-us/about/news-releases/products/new-solution-from-microchip-makes-it-easier-to-build-sophisticated">https://www.microchip.com/en-us/about/news-releases/products/new-solution-from-microchip-makes-it-easier-to-build-sophisticated</a>
&nbsp;
Designers are incorporating Graphical User Interfaces, or GUIs, into more electronic devices to enhance the user experience by providing intuitive and visually appealing interactions with today's modern applications. To support embedded developers with their designs, Microchip Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) today announces <a href="https://www.microchip.com/en-us/tools-resources/configure/microchip-graphics-suite">Microchip Graphics Suite</a> (MGS), an easy-to-learn, comprehensive solution that simplifies the process of incorporating GUIs, animations and images into a touchscreen display.&nbsp; &nbsp;
Developing a GUI can be a complex and lengthy process, requiring significant time and resources to debug and integrate code from various tools. MGS is designed to easily integrate with Microchip's 32-bit microcontrollers (MCUs) and microprocessors (MPUs) and supports multiple development platforms, including MPLAB&#xAE; Harmony v3 and Linux&#xAE; environments. This comprehensive solution to build a GUI interface aims to help designers improve reusability across projects and simplify design complexities. &nbsp;
MGS offers compositional tools, including a simulator for hardware-free prototyping. By leveraging the MPLAB&#xAE; Code Configurator (MCC), the simulator builds the MCC-generated C code in either web or native mode. In web mode, the tool creates an HTML file that can run on most web browsers with simulated touch interactivity. In native mode, the simulator enables debugging of the GUI on Windows&#xAE; desktop computers. These features enable accurate display and functionality demonstrations that are independent of hardware availability. &nbsp;
MGS provides an intuitive WYSIWYG interface with a modern design, enabling users to directly see and manipulate the final output, reducing errors and increasing efficiency. To make GUIs more accessible, MGS is versatile and can support a wide range of devices of varying performance. They can range from resource-constrained devices with significantly lower memory and system performance requirements to high-performance devices supporting tablet-sized touchscreens with high-fidelity video playback. &nbsp;
This solution is optimal for developers who want superior graphical performance without costly hardware upgrades. Additionally, MGS supports a wide range of displays, from monochrome OLEDs to 1080p 16.7M color TFTs, including MIPI&#xAE; DSI&#xAE;, LVDS, RGB, SPI, and HDMI&#xAE; interfaces, along with touchscreens with 2D/3D gestures. &nbsp;
"At Microchip, we are committed to providing our customers with comprehensive solutions and cutting-edge tools that empower them to make high-quality products and get to market faster," said Rod Drake, corporate vice president of Microchip's MCU32 and MPU32 business units. "This innovative tool suite simplifies the process of creating engaging and responsive displays for everything from smart home devices to industrial equipment." &nbsp;
This comprehensive solution simplifies the integration of a GUI from design phase to implementation across a wide range of applications. MGS is highly compatible with the company's broad portfolio of PIC32 MCUs, SAM MPUs and maXTouch&#xAE; touchscreen controllers. Additionally, Microchip can provide other key components including memory, power management and connectivity solutions.

MCHP

'New Solution From Microchip Makes it Easier To Build Sophisticated Graphical User Interfaces For MPLAB Harmony v3 And Linux Environments'

WIIM

COHR

Coherent shares are trading higher after the company announced it launched an energy-efficient dual-chip 980 nm micro-pump laser.

Oppenheimer analyst Matthew Biegler maintains Tyra Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TYRA#NASDAQ">TYRA</a>) with a Outperform and raises the price target from $25 to $33.

TYRA

Oppenheimer Maintains Outperform on Tyra Biosciences, Raises Price Target to $33

Discount retailer Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) tapped PepsiCo, Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) Jim Lee as its CFO and a member of its leadership team, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40934763/target-names-jim-lee-chief-financial-officer" rel="noreferrer noopener">effective&nbsp;September 22</a>.
Lee brings over 25 years of experience in finance, strategy and more at PepsiCo. Lee will take over from COO Michael Fiddelke. Lee has served on multiple boards during his PepsiCo career, including Tropicana Brands Group and Celsius Holdings.
In connection with his appointment, Lee will receive an annual base salary of $850,000, will be eligible for a pro-rated annual cash incentive under Target's Short-Term Incentive Plan.
Specifically, Lee will receive a cash <a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/27419/000002741924000160/tgt-20240919.htm" rel="noreferrer noopener">sign-on bonus</a> of $2.2 million, which is subject to repayment in the event of voluntary termination or termination for cause within the first 36 months of employment, and will be granted a sign-on award of restricted stock units under 2020 Long-Term Incentive Plan with a target payout value of $6.95 million.
Target Chair and CEO Brian Cornell: &#8220;From his consumer centric leadership, to his strategy, business development and corporate governance experience, Jim will be a great addition to our leadership team as we focus on driving Target&#8217;s roadmap for growth.&#8221;&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40738760/dollar-stores-struggle-when-walmart-performs-well-report" rel="noreferrer noopener">Dollar Stores Struggle When Walmart Performs Well: Report</a>
The CFO transition coincides with the upcoming holiday season. The Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) rival wants to hire 100,000 seasonal workers despite a <a href="https://www.benzinga.com/news/24/09/40878577/target-set-to-recruit-100k-seasonal-employees-despite-anticipated-slow-holiday-sales" target="_blank" rel="noreferrer noopener">slower holiday season</a> expectation as the inflation bites. However, the recent upward revision of the 2024 adjusted EPS outlook to $9.00-$9.70, up from $8.60-$9.60 following an upbeat second-quarter print, backs the hiring decision.
Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) boosted the fulfillment and transportation employee and delivery driver pay for uninterrupted service <a target="_blank" href="https://www.benzinga.com/news/24/09/40927136/amazon-boosts-worker-pay-to-over-29hour-invests-2-2b-as-holiday-kicks-in" rel="noreferrer noopener">ahead of the busy season</a>. Walmart also raised compensation for 100,000 frontline associates.
The U.S. Federal Reserve&#8217;s plans to reduce the benchmark interest rate by 50 bps will likely pose a <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">tailwind for the retailers</a>.
Price Action: TGT stock is up 1.50% to $155.90 premarket at last check Thursday.
Photo via Shutterstock
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</ul>

Equities

Large Cap

Management

AMZN

Target Hires PepsiCo Veteran Jim Lee As Finance Chief

Mizuho analyst Maheep Mandloi maintains SolarEdge Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) with a Outperform and lowers the price target from $40 to $35.

SEDG

Mizuho Maintains Outperform on SolarEdge Technologies, Lowers Price Target to $35

Pivotal Research analyst Jeffrey Wlodarczak maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and raises the price target from $460 to $510.

SPOT

Pivotal Research Maintains Buy on Spotify Technology, Raises Price Target to $510

Insider Trades

INTC

MBLY

Intel Said Earlier, Currently Do Not Have Any Plans To Divest A Majority Interest In Mobileye; Said Believes In The Future Of Autonomous Driving Technology

Mizuho analyst Ben Chaiken maintains Carnival (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) with a Outperform and raises the price target from $22 to $25.

Mizuho Maintains Outperform on Carnival, Raises Price Target to $25

Darden Restaurants shares are trading higher. The company reported Q1 financial results.

FactSet Research Systems Inc&nbsp;(NYSE: FDS) reported fiscal fourth-quarter 2024 sales growth of 4.9% year-on-year to $562.2 million, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40935197/factset-reports-results-for-fourth-quarter-2024" rel="noreferrer noopener">analyst&nbsp;consensus estimate of $546.81 million</a>.&nbsp;
Organic revenue from the financial data, analytics, and software solutions provider rose by 5.0% Y/Y to $562.8 million, aided by wealth, banking, institutional asset managers, and asset owners.
Adjusted EPS of $3.74 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $3.62</a>.
As of August&nbsp;31, the client count was 8,217, a net increase of 188 clients in the past three months. Wealth, corporates, hedge funds, and partners primarily drove the increase. The count includes clients with Annual Subscription Values (ASVs) of $10,000 and more.
Adjusted operating margin improved to 35.8% (+240 bps Y/Y).&nbsp;Adjusted EBITDA fell by 0.4% to $170.5 million.
The company held $492.6 million in cash and equivalents as of August 31, 2024.&nbsp;
&#8220;During a time of technological change and an external environment marked by both uncertainty and opportunity, FactSet&#8217;s open platform strategy is resonating with clients seeking growth and efficiency,&#8221; said Phil Snow, CEO of FactSet.
FY25 Outlook:&nbsp;FactSet&nbsp;expects a fiscal 2025 revenue outlook of $2.285 billion–$2.305 billion versus $2.301 billion estimate and adjusted EPS of $16.80–$17.40 versus&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $17.36</a>.
Factset Research Systems stock gained 5% in the last 12 months.
Price Action: FDS stock is up 0.01% at $446.85 premarket at the last check Thursday.

Earnings

Guidance

Tech

FactSet Research Q4 Earnings: Revenue And Profit Beat, Adds 188 New Clients, Margin Boost And More

Macro Economic Events

Econ #s

Economics

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

Stock Split

General

BNZI

Banzai International Will Effect A 1-For-50 Reverse Stock Split, Effective 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.

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

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;
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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>

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