Author: Harry Watt
Oil Search (OSH) -3.39%: Back online after raising US$683m of new capital to boost liquidity and lower gearing. Funds were raised at $2.10, by way of an Institutional placement and 1:8 non-renounceable entitlement offer. The issue price is at an 18% discount to TERP and 23% discount to last close. The main reason for the […]
Bank of QLD (BOQ) -2.14%: Released their 1H20 results today while they took APRA’s advice and deferred a decision on their dividend. In terms of the result itself they delivered cash profit of $151M for the half which was 1% lower than 2H19. Lower income and higher expenses were largely offset by a lower bad […]
Ansell (ANN) +25.08%: one of the more immune companies to the current crisis is protective products manufacturer Ansell, and shares popped today on the company reaffirming their full year guidance. Ansell noted an increase in demand for their examination and surgical gloves, and at this stage hasn’t seen any impacts on production by lockdowns or implementing steps […]
AMP Ltd (AMP) +8.33%: had a choppy day today, but came in with a wet sail to close strongly higher. The financial services company walked away from guidance due to the “uncertain environment and resultant challenges in providing accurate forecasts” as a result of the COVID-19. Now one of many to pull guidance for the current year, […]
**This is an extract from the Market Matters Morning Report from 23 March. Subscribers have the opportunity to ask questions of the Market Matters team throughout the week. Click here to get access to the full report and more Question 1 “Hi, what is the explanation in the steepening of the 2/10y US and Au […]
Bingo (BIN) -4.96%: fell on their sword today as they walked away from FY20 guidance that was reiterated just 4 weeks ago – a sign of the fluidity of the evolving situation however its becoming the norm across the ASX. Despite pulling guidance, the company did say that the 3rd quarter was on track to hit […]
Afterpay (APT) +25.96%: clawed back a portion of the savage sell off the stock has encountered over the past few weeks – it peaked on 20 Feb at $41.14, falling 80.5% to yesterday’s low of $8.01 in just 23 sessions. Today’s support was found on directors picking up a few shares into the weakness. Two […]
**This is an extract from the Market Matters Morning Report from 2 March. Subscribers have the opportunity to ask questions of the Market Matters team throughout the week. Click here to get access to the full report and more Question 1 “Just wondering what impact, you think the horrific Chinese data from yesterday will have. […]
**This is an extract from the Market Matters Income Report from 26th Febraury. Click here to get access to the full report and more IGL sits in the MM Income Portfolio and reported softer than expected numbers this morning, as suggested above about an 8% miss. The stock is trading down ~10% at $1.91, this […]
Costa (CGC) FY19 Result $2.86 Out this morning and looks solid v low expectations. Revenue was slightly above at $1.048bn versus $1.025bn expected, with revenue growth coming in at 5.8% versus 2.33% expected = good. While profit was low relative to sales coming in at $28.4m, it was above expectations of $27m, with analysts range […]
