Viewpoint: Bullish
PayPal (PYPL US) finally enjoyed a bounce in its shares this week while we expect more to play out after the company announced $US900mn in savings from cost-cutting, a huge $US15bn share buy-back and news that activist investor Elliot had taken a $2bn stake in the company with plans afoot to turn around the payments provider. “Elliott strongly believes…
The emerging copper producer presented at the Diggers & Dealers conference yesterday. FY22 was a big year for the company, buying the MATSA copper operations in Spain to go with their WA asset DeGrussa. They are also less than 12 months from production at Motheo in West Africa to further expand their production profile. Weaker copper prices and global growth…
IGO hosted a very well-attended site visit over the weekend, particularly by Fund Managers which is not surprising considering this miner ticks the ESG mandates of many a manager through its nickel & lithium exposure i.e. prominent battery elements. As a holder and supporter of IGO let’s hope it wasn’t because they’re all long and keen to check on their investment – stocks need new buyers to go up!
ABB -15.98%: the telco provided a 4th quarter update today, shares initially traded higher before selling off as the market digested the news. Total connections were up 7%, however, this included the Over The Wire (OTW) acquisition which added around 1.5% to the growth number. Total services were up 46% for the year, led by strong growth in Business, though…
US tech stocks started to regain their mojo last week following some solid reports from the likes of Alphabet (GOOGL US), Microsoft (MSFT US), Amazon.com (AMZN US) and Apple Inc (AAPL US) but similar to other indices its within touching distance of our target area hence although we believe it might outperform for a while the easy risk/reward money feels like it’s behind us for now.
Google as its usually called reported earnings largely in-line with expectations with search’s outperformance offsetting a miss by YouTube revenue i.e. search revenue was a healthy $US40.7bn comforting MM that their business is doing fine even as economic conditions toughen although they, like most stocks are to a certain degree at the mercy of the macro environment…
This morning we saw Apple’s 3rd quarter result meet the Streets estimates easing fears that supply chain disruption and a questionable global economy would weigh on earnings. Revenue rose 2% to a whopping $US83bn while earnings equated to $1.20 per share (v $1.16 exp). The companies staples iPhone & iPad sales beat estimates while the secondary Macs and wearables…
AD8 +9.64%: audio-visual technology business surprised the market with a strong earnings pre-release today. Revenue is now expected to come in around $US33.4m when they report next month, over 10% higher than the guidance provided in June, up 33.4% for the year. EBITDA is also expected to grow ~30% to between $US3.8-4.3m, well above expectations around…
SBM +3.33%: The gold producer was out with 4th quarter production numbers, and although they were largely pre-released there were still positives to take out of the update. Production guidance for the full year was met with 281koz of gold produced, as was cost guidance across all assets despite market fears of blowouts due to energy or labour which has weighed on the sector in recent…
The ASX200 continues to demonstrate impressive resilience around the 6800 area again ignoring an average night on Wall Street on Tuesday, the path of least resistance still feels on the upside at least short-term. Yesterday it was the Resources Sector that supported the index while the consumer-facing stocks weighed on the market, this could easily be reversed over the next 24 hours depending…
