Viewpoint: Bullish
As anyone that does school pick-up can attest, a big consumer shift has been the explosion of activewear, sports kit, as a form of everyday attire –black leggings are now a fashion statement! This now has a name, Athleisure and Lululemon is doing particularly well in this space. At their Q2 earnings report last week they reported net revenue up 29% to $1.87 billion which was well ahead of guidance and comparable sales increased 25% with an 18% increase…
We recently looked at US energy giant Exxon Mobil (XOM US) and this morning following further stellar gains by the ASX energy stocks we thought it was an opportune time to reiterate these thoughts by a brief glance at the $US398bn goliath Chevron Corp (CVX US). There seems to be no relief in sight for consumers as fuel prices rise, this week we’ve already…
West African-based gold miner WAF joined the ASX200 in July courtesy of some stellar gains from 2019 which transformed the stock into a $1.2bn business. This is a great example of not all stocks in one particular sector moving as one i.e. WAF has consolidated in 2022 while Newcrest (NCM) and Northern Star (NST) have tumbled by -30% & -21% respectively.
ABB -4.32%: It has been a tough period for ABB with a number of earnings downgrades sending the stock down 41% year to date. Following this week’s results and share price decline, it is worth highlighting that all of ABB’s directors have bought stock in the market since, with 6x change of interest notices out so far. Total Director buying in the last 2x business days now represents ~$1.4m. Some of the most aggressive director buying we have seen and a very good sign.
STA -2.08%: another positive update from the mineral sands company today as they progress towards the first shipment from their WA Coburn asset. Construction works are now more than 90% complete, on budget and set to be delivered ahead of schedule. Works are no focusing on finalizing the Mineral Separation Plant and supportive infrastructure…
PPS +12.82%: the investment administration platform announced in-line FY22 results today, but the share price got a boost from improving underlying performance. The company printed EBITDA of $16.6m, marginally below consensus but sneaking into the bottom end of the guidance range. Profit was boosted by the sale of the international…
Australia is a small market and expanding our horizons to give subscribers access to true global players in different industries underpinned our decision to launch the Market Matters International Equities Portfolio midway through 2019. Since then the portfolio has returned 15.27% per annum targeting a high conviction portfolio of around 20 large-cap stocks. While Deere & Co have more than 25 brands, the green and yellow John Deere tractors are…
DUB +7.48%: the call recording and AI software company saw a strong ramp-up in recurring revenue despite a disappointing flow through to revenue, though this was previously flagged. Annualized Recurring Revenue increased by 50% to $59m, assisted by continued penetration within their service provider partners. Turning revenue into receipts…
SFR -3.6%: the copper miner struggled today after deciding against paying a dividend at the full-year results. Other numbers were largely pre-announced with revenue of $US 922.7m and EBITDA of $447.3m known to the market. The recent purchase of Spanish copper asset MATSA contributed positively and production is running ahead of expectations, though…
We cannot look at China without considering the Resources Sector which exports huge amounts of its products into the worlds 2nd largest economy especially as the stocks are now enjoying the tailwind from renewed stimulus by China as it looks to kick start its economy after painful Covid. However, this has become a sector that is most definitely not moving as one e.g. year to-date BHP is +14.2% whereas RIO has fallen -3.1%. MM remains net bullish the sector but we are picking our targets carefully.
