EML -29.68%: shares in the payments technology business slumped to 3-month lows today on some softer-than-expected comments at their AGM.
CBA +0.96%: 1Q numbers out for the biggest of the Big 4, CBA shows it remains the quality pick of the banks with a strong start to FY24. Cash NPAT of $2.5b was around a 3% beat to consensus expectations championed by what looks like better-than-expected Net Interest Margins (NIM) despite some upward pressure on deposit pricing.
WBC +1.95%: Rallied today after delivering a largely inline FY23 result, although the $1.5bn on market share buy-back announced was a positive surprise while they also made better progress on costs.
On Tuesday, TWE announced the $1.6bn acquisition of upmarket Californian unlisted wine group Daou Vineyards, another foray into the US, which some would argue hasn’t been a great hunting ground for the winemaker over the last decade.
Cameco reported quarterly earnings that were ahead of expectations overnight and talked to a strong backdrop for ongoing strength in the global Uranium market – shares rose 8.06%.
WHC -5.08%: A strong year for the coal producer with underlying revenue of $6,06bn which was broadly inline with consensus, EBITDA of $3,99bn (v consensus $4bn) & an underlying net profit after tax (NPAT) of $2.7bn which was inline with expectations.
COL -7.06%: FY23 numbers out for the staples business, Coles was largely in line but it looks like it gets harder from here. Revenue of $41.5b was largely in line while EBIT at $1.97b was a small miss, driven by a softer-than-expected Supermarket result.
BHP -.0.71%: A softer session for BHP following their FY23 results out this morning, with earnings coming in around 3% below consensus, while forward-looking capex was higher as cost pressures continue to work against the miners at a time when their biggest customer is wobbling
NCK +13.27%: the furniture retailer hit 6-month highs today on a strong result but flagged a weak start to FY24. Revenue of $507m was largely in line with consensus however better margins drove a 5% beat at the profit line to $101m.
CBA +2.58%: Australia’s 2nd largest company (behind BHP) released FY23 results this morning that were a modest beat to expectations as margins improved 17bps to 2.07%, ahead of the 2.05% consensus expectations.
JHX +14.38%: Produced a material beat versus expectations at their 1Q24 result today exposing the many drivers they have across their business to cope with operational challenges.
CCP -12.58%: the debt collection company kicked off reporting season today with a largely disappointing update regarding guidance. FY23 though was broadly in line.
Inflation data for June out at 11.30am this morning came in below expectations and the market now believes the RBA will pause on rates this coming Tuesday. For June, prices increased 5.4% YoY (below 5.6% exp) while QoQ the 0.8% rate was below the 1.0% economists had tipped.
NST -5.83%: when most gold stocks traded flat or higher, Northern Star struggled following a soft 4Q production update. Gold sales of 426koz in the last quarter, taking their FY23 total to 1.56moz, at the low end of guidance.
FY23 was a strong year for markets and we’re pleased to say, the Market Matters Portfolios captured this strength. In this week’s video update we discuss the performance of the Market Matters Portfolios and our positioning for what comes next in FY24.
KMD -9.28%: the NZ based retailer slipped to a 9-month low after flagging a soft finish to the 31 July year-end. KMD, which owns Kathmandu and Rip Curl, said they expect a record year for sales of $NZ1.1b, up from last year’s $980m but around 5% short of expectations.
STA -5.45%: the mineral sands producer struggled today despite putting out a seemingly positive announcement that they have now shipped a total of 65kt of heavy mineral concentrate (HMC) from their Coburn asset in WA.
AMP -6.14%: the wealth management company struggled today after losing two test cases in the Federal Court regarding the buyer of last resort (BOLR) program.
MTS +4.74%: Full-year results out this morning were solid, and marginally ahead of consensus expectations. Underlying profit of $307.5 million was up 2.6% YoY and above Bloomberg consensus of $299.5 million.
We had previously written favourably about the ASX Ltd (ASX) back in March here, adding it to the Hitlist with the conclusion being that the defensive earnings & income were attractive for the Income Portfolio.
BBN -16.85%: the latest retailer to downgrade guidance as we approach the end of the financial year, sighting a significant slowdown in sales in recent months will see earnings hit this year.
IEL -15.92%: an announcement out of Canada over the weekend saw a wave of selling in Idp today. The English language testing company has help a monopoly over the Student-Direct-Stream (SDS) visas with the company now allowing competitors to offer testing services.