Author: Harry Watt
NAB -0.76%: The 3rd and final of the Big 4 banks to report FY21 results today with NAB confirming a very strong bounce back post COVID with cash earnings up 38.6% to $6.558b – a slight beat to market expectations.
VUK -11.27%: Provided a trading update overnight and the stock was whacked on the market today. This trading update talked that the process, outlined yet more restructuring charges which have been a very consistent theme for VUK in the past few years, then went on to sell the dream of outer years.
DMP -18.4%: The pizza maker got hit today after sighting inflationary pressures across the group along with weaker sales in their Japanese operation at their AGM today.
TYR -4.35%: Another poor session for TYR today after dropping ~15% yesterday, the main issue stemming from their trading update yesterday afternoon that sighted year to date gross profit of $38m versus current consensus expectations of $159m for the full year.
AMP +9.30%: the embattled financial services company rallied today after selling its interest in Resolution Life Australia. AMP held a ~19% stake in the business after selling AMP Life to Resolution last year.
PPS +14.46%: the investment platform has had an approach from peer Netwealth (NWL) in an all scrip offer. Praemium shareholders would receive 1 NWL share for 11.96 PPS shares, plus a cash consideration of around 5c tied to the sale of the international arm.
APA +2.56%: looks to have lost out on its attempt to take over Victorian electricity grid and gas pipeline owner AusNet (AST) after Brookfield came back to the table with a $2.65/sh all cash bid. The AusNet board intend to unanimously recommend the offer to shareholders despite giving APA due diligence just a week ago.
WBC -7.36%: Reported full year results this morning that were underwhelming. While Cash profit was only a slight miss coming in at $5.35b versus $5.42b expected, the real issue stemmed from higher costs, weaker net interest margins (NIMs) and a concerning trend half on half.
A2M -11.97%: Hit hard today following their strategy update where they doused expectations for a strong rebound in the short term, instead they refocused the markets attention on the longer term strategy calling FY22 a year of stabilizing and resetting
WOW -3.24%: Lower today on a weaker than expected trading update, particularly their comments around October trading to date (post end of lockdown) having slowed further as we all go out and socialize.
