Lithium stock bounce – A rally or a material pivot point? Macquarie – missing recent gains but not buying. End of the results season – we can get back to thinking rather than reporting. Directors buying LLC and BEN. What its like being a broker in a dog eat dinner world. End of the month – the scores on the doors.
The Strategy Portfolio stays fully invested, we have the feeling that things are Toppy but until they fall over, we’re in.
ASX 200 closes up 47 points to 7724 (+0.6%) on an all-time high. Defensive sectors were sold off as risk appetite returned with a vengeance. Lithium stocks were on fire as the short squeeze continued. Uranium stocks sold down as the fizz seemed to have left the building. PLS up another 4.3%, but LTM screaming ahead…
National Australia Bank (NAB) results: Up a mere 1.6% since reporting, meeting most brokers expectations. Statutory profit of $1.7bn. Cash earnings fell 17% compared to 1Q23 mostly due to impairment charges. The credit impairment charge came in at $193m. Higher than last quarter’s $165m due to rising mortgage arrears (people not paying the required amounts…
Wisetech (WTC) results: Impressive results from WTC saw the stock 11% higher on the day and now up 19% since. Earnings of $500m driven by CargoWise earnings of $420m up 40%. The high growth was attributed to recent Mergers and Acquisitions and new Large Global Freight Forwarder rollouts. Margins of 46% have beaten guidance. Free…
Sonic Healthcare (SHL) results looked reasonable but saw it pummelled, down 8%. Profit came in at $202m, down 47%. The significant fall due to a 90% fall in COVID-related revenue. Despite the Covid drop the company has generated 6% of organic growth. New acquisitions this FY in Germany and Switzerland have also secured $500m of…
Reporting season winner for the big banks was Westpac (WBC). Up over 7% since reporting as margins fell less than expected. Banks doing rather nicely at the moment. WBC is well overbought on a daily chart. Broker research out this morning is positive which the results described as “sound” and “solid”. The company beat estimates…
McMillan Shakespeare (MMS) held in the Income Portfolio is up 25% since results last week. It is now well overbought – having a habit of spiking on results and then peaking. 1HFY24 reports novated lease sales up 25.7%, sales up 42.9% to $87m. Profit of $37m up 5.8%. Interim fully franked dividend of 76c, up…
Rio Tinto Results (RIO) – was down 1% in the US and 1.5% in the UK after posting results. You can look through the numbers if you like (see below), but, as hopefully all Marcus Today Members already know, they will not help you get the share price right. The past is past. The future…
Smartgroup Results (SIQ) – We hold it in the Income Portfolio. The company is up 14% since results. They do salary packaging, novated leasing, fleet management, payroll administration and other HR services. Revenue of $251.6m, up 12% YonY, operating EBITDA of $100.3m (+7%), and NPATA of $63.2m (+3%). Notable highlights include a rise in novated…
