Author: Harry Watt
ELD -24.42%: the agricultural services company saw shares smacked more than 20% today after providing FY24 guidance for the first time. The first half has been hit by falling sentiment in the sector on the back of El Nino, lower crop protection prices, cheap livestock prices and a slow start to the winter crop particularly in WA. While an improvement is expected in the 2H, Elders expect EBIT to be ~25% lower than consensus, guiding to $120-140m.
360 +38.48%: the share price of tracking and digital safety business Life360 surged into double digits for the first time since 2021 on a strong FY24 report out this morning.
RHC +7.27%: Opened down this morning before they did a good job putting some more ‘meat on the bones’ of today’s 1H24 update, while they talked about the potential to realise value across their various business units, rolling out the private equity playbook which certainly worked on the share price, trading up to 6-month highs
ANZ +1.3%: Quarterly trading update today for ANZ so light on detail, however their earnings were a slight beat to expectations driven largely by solid trading revenue and another period of low bad debts. We had the UBS banking analyst John Story in today to cover ANZ and the banks more broadly. He’s very good in terms of trends within the sector and how the market is positioning around them.
