Month: March 2019
The miners performed well in February during the reporting season helped by a combination of strong commodity prices and large scale capital management initiatives. Key points: Actual profit results were reasonable, Fortescue Metals (ASX:FMG) the best in our universe, while BHP had a weaker than expected first half, and is now looking for a strong […]
As reporting season wraps up, oil prices look positive with a test of $64 / +12% the next technical target. Given that backdrop, energy stocks remain a buy the dip scenario, and reasonable pullbacks are common. Key points: A massive dividend from Woodside (ASX:WPL) which amounted to a payout ratio of 103% reduced their franking […]
The banking sector has had Commonwealth (ASX:CBA) and Bendigo (ASX:BEN) report first half results while the other 3 major banks provided trading updates. Bank of QLD (ASX:BOQ) issued a profit downgrade. Key points: – Competition in the home loan sector is high in a weakening market – not surprising and probably set to continue – […]
A mixed trolley through February reporting for the food sector however M&A activity is heating up. This is typical when highly cyclical stocks decline on the back of shorter term transient factors like weather. Key points: Costa Group (ASX:CGC) downgraded in January due to weak prices for berries, tomatoes and avocados rather than structural issues […]
Well known headwinds of higher competition and weak consumer spending remain and the recent updates from the two majors were weak Key points: The first report from Coles (ASX:COL) as a separate entity and the same pressures persist. Weak margins and the need to spend up on new distribution centres will remain an issue for […]
The stocks with high hopes built into valuations disappointed during earnings season however those that had been weak showed improvement – some mean reversion starting to play out in Healthcare. Key points: Highly rated healthcare stocks Resmed (ASX:RMD), Cochlear (ASX:COH) and to a lesser degree CSL had a tough reporting period – expectations were high […]
Really bullish, there's more to go in the reflation rally
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