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Australian Investment Blog


Westpac (WBC) shares buck market weakness with strong 1H

WBC +3.23%: A strong 1H22 result this morning from Westpac beating consensus expectations by ~6%.Cash NPAT of $3.1bn was ahead of the $2.9bn expected while the interim dividend of 61c was a tick above the 60c penciled in by the market.


Praemium (PPS) shares pop on quarterly

PPS +15.32%: a strong rally for the investment platform today, bouncing back from recent weakness thanks to a decent funds under administration (FUA) update.


Why EML Payments (EML) shares were smashed today

EML -38.56%: shares in the card payment business EML were dumped today after the company downgraded guidance for FY22. Revenue guidance was lowered to $225-235m, from $230-250m, and EBITDA guidance was cut 8% to $52-55m.


Why did Ardent Leisure (ALG) shares rally today

ALG +6.18%: the theme park and entertainment company has offloaded its US Main Event business today to US listed Dave & Buster’s. The $US 835m deal, expected to complete later this year, will see 5,150 laser tag, bowling and entertainment sites change hands.


Mineral Resources (MIN) brings forward lithium production

MIN +5.69%: following the surge in demand for lithium, Mineral Resources has announced it will accelerate its growth plans for both the Wodgina and Mt Marion assets. At Wodgina, they’re expecting first production from Train 1 to hit in May, and has now accelerated the resumption of production at Train 2 for first production in July.


Pendal (PDL) shares surge on Perpetual (PPT) bid

PDL +18.08%: the fund manager received a takeover bid from competitor Perpetual (PPT) which sent the stock surging today. Perpetual’s non-binding indicative bid offered 1 PPT share for every 7.5 PDL, as well as $1.67/share in cash.


Sigma Healthcare (SIG) reports a small beat for FY22

SIG +1.92%: Sigma is a chemist retailer operating under brands like Amcal and they also have a large wholesale business, although smaller than it once was after losing the contract to supply Chemist Warehouse a few years ago


Nearmap (NEA) guides expectations higher

NEA +16.6%: mapping technology company Nearmap announced it was on track to reach the top end of guidance after winning its largest government contract in North America.


Uniti Wireless (UWL) shares jump on takeover talks

UWL +27.3%: this morning The Australian reported that the telco had received a takeover offer from an unnamed bidder. Shares were placed in a trading halt soon after the open, and by mid-afternoon the company had confirmed that infrastructure group Morrison & Co had put forward a $4.50/sh offer


Elders (ELD) shares rally with strong guidance

ELD +11%: the agricultural services business jumped to more than decade-highs today on the back of a strong trading update. Full year guidance was given for the first time in FY22 for the September year end, the company predicting EBIT growth twice as strong as consensus estimates.


Myer (MYR) shares rally with strong 1H

MYR +24%: reporting their first half results for 6 months to 29 January, the department store surprised to the upside for the first time in a while. Profits were up 55% on last year after stripping out jobkeeper, with sales +8.5%.


Nickel Mines (NIC) shares halted during wild session

NIC -4.75%: briefly traded to a 4 month low early in the session before the ASX halted trading in the shares just before 11AM. Major shareholder Tsingshan has been short at least 200koz of nickel forcing the price significantly higher in the recent sessions.


AGL Energy (AGL) shares slide after rejecting offer

AGL -1.75%: Over the weekend, the Cannon-Brookes / Brookfield consortium increased their bid for AGL from $7.50 to $8.25 before the AGL board formally rejected the offer, saying it still undervalued the group.


Sigma Healthcare (SIG) falls despite upgrade

SIG -2%: surprisingly tough finish to the day for Sigma who substantially upgraded guidance for their FY22 result due out at the end of the month. The pharmaceutical wholesaler upgraded EBITDA guidance to 10-15% growth for the year against previous guidance of -10%


Dubber (DUB) shares fall following late 1H results

DUB -4.76%: cloud call recording and AI business Dubber reported aftermarket yesterday to wrap up the reporting period. The result was largely pre-released at the quarterly update in January with Revenue and ARR growth known.


Zip Co (Z1P) raise money, to buy Sezzle

Z1P Trading Halt: The Buy Now Pay Later (BNPL) company was in a trading halt today following the announcement of their 1H22 results, the acquisition of competitor Sezzle (SZL) and a ~$200m equity raise priced at $1.90.

Zip Money Afterpay post

Coles (COL) 1H beats expectations

COL +3.17%: A good set of 1H22 results today for Coles, particularly in the context of where the share price has traded over the past 6 months, down from ~$19 to below $16 on concerns around supply chain issues.

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