Viewpoint: Bullish
CTD has delivered a result ahead of many nervous expectations following the recent Omicron wave of the pandemic. The stock rallied 7.5% yesterday after the company more than doubled its revenue as travel restrictions start to lift, the 120% lift in revenue led to a small $0.4mn loss which should be comfortably reversed moving forward. North America and Europe led the charge with Australia likely to follow suit as corporates return to the office – a great read through from DXS on this front.
Earlier in the week DXS delivered a 82% lift in profit to $803mn illustrating how quickly earnings can recover from COVID, positive revaluation gains aided the recovery i.e. many people felt that work from home (WFH) was the future but MM, like many other businesses, have recognised productivity is generally higher when staff work together as a team. The board delivered a solid…
VCX soared 11% yesterday after it posted an excellent half year result which saw a net profit after tax (NPAT) of $650mn. The countries 2nd largest Australian retail property manager illustrated people are still “going to the shops” and if Chatswood in Sydney is any indication that’s 100% on the money. The companies result was even more impressive after it previously delivered a loss…
US stocks erased early losses overnight following the release of the Fed minutes which appeared to contain no surprises letting stocks breathe a sigh of relief. The big question of whether the great rotation out of bonds into equities remains in play after stocks had their worst month in over 12-years, we think on balance it probably is but 2022 /23 looks set to…
MM hasn’t mentioned CSR for a while which is no great surprise considering its been treading water for well over 6-months. We still like the building materials company believing the macro backdrop for the sector is strong enough to withstand a cooling property market, if it does indeed occur. Also we feel supply chain disruptions are set to improve through 2022…
Waves of buying have washed through the Australian banks of late with Westpac (WBC) and Bendigo (BEN) catching my attention over the last fortnight – it’s felt like an institution has pressed the buy button in a meaningful manner for a couple of days catapulting the lucky recipient higher in the process. Elsewhere in the sector NAB has just traded at levels…
The ASX200 enjoyed a strong session on Wednesday although it was struggling into lunch as the “sell the strength” mentality that’s dominated most of 2022 took hold as S&P500 futures wobbled however solid broad based buying from 11am pushed the market higher and the index finally closed up more than 1% with 85% of stocks closing positive for the day. A few weeks ago…
EML -3.97%: a choppy ride for the payment solutions business today on the back of a mixed 1st half result. Revenue of $113m was a slight miss, EBITDA fell 4% to $26.9m but they maintained full year guidance of $58-65m in EBITDA which will require a big second half to reach. The positive news is that the sales pipeline is growing, up 30% in the half to $13.6b and they…
STO -2.84%: The stock was hit today following their FY21 results that were slightly light on in terms of earnings while a weaker oil price overnight didn’t help. Underlying profit for the year of $946m was a sharp increase on FY20 profit of $337.8m and largely inline with the $950m expected by the market. FY22 will be a big year for Santos following the recent..
CSL: +8.51%: A strong 1H22 for CSL relative to market expectations today plus their guidance was positive for the full year. Revenue of $5.81bn was above the $5.56bn expected while 1H22 EBIT of $2.21bn compared well to the $2.03bn forecast for the half and also the $2.96bn pencilled in for the full year. While they said the result would be heavily skewed…
