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…
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…
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…
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…
Paladin (PDN) Results – No revenue or dividends yet as expected. Profit of $61m mostly from the reversal of an old impairment charge offsetting costs of getting the mine up and running again. 45% of a stockpile at the mine was impaired back in 2016 due to low prices. Thanks to the recent rise in…
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 S&P 500 pulled back 0.17%.
The Nasdaq Composite fell 0.55%.
The Dow Jones fell 0.06%, to end at 38,949.02
Bitcoin surges past US$64,000 Briefly.
SUMMARY Two new trades today: LLC and BOE. Adding using opening prices. MQG runs into resistance. Cash. No change to BHP. JBH prints a weekly sell signal after its excellent run. Up 44% in the last year. China focussed A2M and TWE overbought after a recent (potential) renaissance. ALL hits a 52-week high. OBSERVATIONS Two…
The results season finishes today – we have two new trades in the Idea Portfolio today
