Bitcoin – wave at me when you go past in your Lamborghini. Big Tech still running. Lots of signposts this week. Chinese GDP forecast coming. Lots of ex-dividends.
A few directors buying bombed out stocks.
Results season is over but there are a host of ex-dividends and Macro signposts this week from Powell, the ECB and the Chinese National People’s Congress
ASX fell 12 points at 7724 (0.2%). Some weakness in a few sectors weighed.
Lithium stocks smashed. Gold flies higher.
Coles Group Results (COL) last Tuesday – Held in the Income Portfolio. Sales up 7%, earnings down 5% and profit down 3.6%. The stock is up 4.3% since reporting, having been as high as +8% yesterday. Dividend unchanged at 36c, fully franked. Financing costs rose 14% due to higher interest rates on lease liabilities and…
Worley (WOR) Results – Held in the Growth Portfolio. Initially fell over 3% on results last Wednesday. Then recovered with a bumper Thursday and Friday gaining 8% after brokers wrote some positive reviews. Earnings up 28%, margins slightly higher at 6.1%, sustainability related work rises to 51% of total revenue (a +61% change). Underlying profit…
NextDC (NXT) reported last Wednesday. – Held in the Growth Portfolio. Our preferred data centre play jumped 9% on the results after already being up 11% this year. Revenue came in at $209m, up 31%. Positively impacted by higher power prices and related power passthrough. $220m invested to progress capital projects. Underlying earnings up 5%.…
Perpetual (PPT) had results last Wednesday – Held in the Income Portfolio. Net profit up 29%, underlying profit up 46% (not including the Pendal integration costs). Two of its three segments recorded profit growth. Funds under management up 165% thanks to the successful Pendal integration. Its $40m synergy target exceeded. The corporate trust segment saw…
Macquarie Technology Group (MAQ) Results – Held in the Growth Portfolio. Rose 9% after reporting after the bell last Thursday and is now +12% since. Highlights include 18 consecutive HY earnings growth. Up 5% in this period attributed to strong growth in cloud and cyber megatrends. Net profit up 74%, beating expectations due primarily to…
Australian Financial Group (AFG) Results – Held in the Income Portfolio. Suffered a nasty 10% drop after reporting last Thursday. Net profit down 34% and net interest margin down by $11.6m due to peak funding costs and competition. Not all bad, the broking segment saw a market share increase to 21% and the outlook for…
ASX fell 12 points at 7724 (-0.2%). Some weakness in a few sectors weighed. Banks eased back with the Big Bank Basket down to $206.08 (-0.8%). CBA leading the loss, off 1.0%. MQG slipped 0.3%, and GQG fell 1.8%, with REITs down a tad. Industrials weaker across the board, looking a little tired after reporting…
