Macquarie Group faces profit decline
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Macquarie Group (ASX:MQG), renowned for its ‘annuity’ style businesses in asset management, finds itself grappling with a significant decline in profit for the fiscal year ending March 31.
Read MoreMacquarie Group (ASX:MQG), renowned for its ‘annuity’ style businesses in asset management, finds itself grappling with a significant decline in profit for the fiscal year ending March 31.
Read MoreBlood products behemoth CSL (ASX:CSL) has demonstrated resilience in the face of Monday’s setback concerning a potential blockbuster drug trial, showcasing an impressive 11% enhancement in underlying net earnings to $US2.017 billion ($A3.11 billion).
Read MoreGlencore has announced intentions to sell its 49% stake in the Koniambo Nickel SAS (KNS) venture, a venture wrought with losses due to plummeting nickel prices exacerbated by the unchecked nickel production in Indonesia.
Read MoreShareholders in Seven West Media (ASX:SWM), the proprietors of the Seven TV Network, have languished without dividends for over six years, underscoring the dismal performance of the company under the stewardship of Kerry Stokes.
Read MoreAlkane Resources (ASX:ALK) has made waves with its latest discovery of high-grade gold and copper deposits at the Northern Molong porphyry project in Central NSW.
Read MoreIn a dramatic turn of events, Fletcher Building (ASX:FBU), a prominent trans-Tasman building products giant, had its shares suspended abruptly yesterday.
Read MoreDespite analysts claiming that JB Hi-Fi (ASX:JBH), the country’s leading consumer electronics retailer, surpassed expectations with its lower result, the near 20% slash to the interim dividend tells a very different story.
Read MoreIn the six months to December, Kerry Stokes's 30%-controlled oil and gas producer, Beach Energy (ASX:BPT), faced a substantial setback, taking a $721 million write-down in the value of its Cooper Basin assets. The impairment, totaling $505 million after tax, led to a reported net loss of $345.1 million.
Read MoreAs of Friday's market close, the momentum of the US December quarter earnings rebound persists, with over two-thirds of S&P 500 companies having already reported, exceeding initial expectations. The earnings landscape has proven to be more resilient than anticipated, showcasing a positive trend for investors.
Read MoreThe absence of La Nina-driven rain and flooding events in the coal fields and ports of central Queensland and the NSW Hunter Valley helped rail freight giant Aurizon (ASX:AZJ) boost its interim dividend by 39% to 9.7 cents a share for the December 31 half-year.
Read MoreCAR Group (ASX:CAR) has lifted its interim dividend by 21% to a 50% franked 34.5 cents a share after reporting a solid outcome of its expansion into the US and Brazil car sales markets. The company revealed in its interim report that it enjoyed double-digit revenue and earnings growth in all key markets.
Read MoreThe froth continues to vanish for former boom stock, NZ-based Synlait Milk (ASX:SM1), judging by a surprise slashing of guidance issued Monday morning. In doing so, it confirmed why its shares are down 75% in the past year, with the news that it now expects a loss instead of a small profit for the six months to January 31.
Read MoreIn a remarkable feat of resilience, the S&P 500 closed above the key 5,000 level, defying expectations amidst a backdrop of rising interest rates and global geopolitical tensions. Strong earnings reports and positive economic indicators propelled the index to new heights, showcasing a 25% gain in the three years since it surpassed the 4,000-point milestone.
Read MoreThe Australian December half-year reporting season has begun with a flurry of activity, showcasing a mix of positive surprises and anticipated challenges for investors. Nearly 50 ASX 200 companies are set to report, with major players such as the Commonwealth Bank and JB Hi-Fi leading the charge.
Read MoreLast week witnessed a notable surge in the prices of oil, iron ore, and coal, driven by various global factors. However, gold and copper faced significant setbacks, particularly due to the lack of positive news emanating from China, a key player in the global commodities market.
Read MoreAs the world prepares for a dynamic week of economic indicators and cultural events, eyes are particularly focused on the United States where inflation data is set to be unveiled. The January Consumer Price Index (CPI), both headline and core, along with the Producer Price Index (PPI), are anticipated to dominate discussions, offering insights into the trajectory of the world's largest economy.
Read MoreIn a historic turn of events, Microsoft has officially dethroned Apple to claim the title of the most valuable company ever. Founded decades ago by Bill Gates and others, and listed in 1986, Microsoft's journey reached a pinnacle last week with a staggering market capitalization of $US3.125 trillion, marking the highest value ever recorded for any company.
Read MoreMaybe it will be a goer down the track, but green steel is about to start a long journey to eventually replace the carbon (coal)-based production methods that account for most of the near 1.9 billion tonnes a year of steel produced globally.
Read MoreWall Street is record-setting, especially among tech and near-tech stocks. Industrials and financials are sagging, and the Magnificent Seven has become six, with Tesla falling behind Apple (a bit weak as well), Nvidia, Alphabet, Amazon, Meta, and Microsoft (more a 'Stellar Six' now than magnificent).
Read MoreThe Kerry Stokes-controlled building products giant, Boral, has upgraded its full-year earnings guidance after revealing a strong performance for the six months to December.
Read MoreOne way to slow or halt stock market uncertainty is to call a holiday. Usually, that ends up being bad news because when trading resumes, the slide continues and even deepens. Regardless of what happens, for China’s shattered stock markets, the week-long break for the Lunar New Year couldn’t come too soon on Thursday.
Read MoreIn August, Charter Hall Long WALE REIT indicated its intention to sell assets to manage gearing after suffering significant write-downs and asset devaluations, leading to a loss of $189 million for the 2022-23 financial year.
Read MoreAnother month of falling consumer and producer prices in China underscores the country's weak activity and demand. However, a slight silver lining emerged in the consumer price data.
Read MoreProperty and retailing group Mirvac (ASX:MGR) has recorded statutory losses totaling $366 million for the 18 months ending December 31, with an additional $201 million loss for the six months leading up to that date. The company experienced a significant downturn, transitioning from a $215 million profit in December 2022 to a loss of $201 million in December 2023.
Read MoreIn the midst of ongoing confusion surrounding Sydney's troubled Rozelle traffic interchange, Transurban (ASX:TCL), the toll road giant, remains resolute in its financial projections.
Read MoreAGL Energy (ASX:AGL) reported a sharp improvement in interim earnings on Thursday and a significant jump in its full-year guidance range.
Read MoreThe mooted merger between Woodside (ASX:WDS) and Santos (ASX:STO) was abandoned yesterday, eliciting relief more than anything else.
Read MoreFor thousands of Amcor (ASX:AMC) employees, the company's exposure to world economic activity took a harsh turn in the six months leading to December, as confirmed by Wednesday's quarterly and interim results.
Read MoreThe marriage between Woodside (ASX:WDS) and Santos (ASX:STO) was called off just before midday on Wednesday.
Read MoreDespite the gloom in retailing, catering to aspirational and wannabe consumer groups is still paying off handsomely for Melbourne-based luxury goods website Cettire, which reported its best half-year performance ever.
Read MoreA day after losing 7.5% of its market value, Piedmont Lithium announced a 27% reduction in its workforce as it grapples with the challenges in the lithium industry.
Read MoreThe National Australia Bank (ASX:NAB) has selected Andrew Irvine to succeed the current CEO, Ross McEwan. The bank announced on Wednesday morning that Andrew Irvine will assume the role of Group Chief Executive Officer and Managing Director, starting from April 2nd this year. Mr. Irvine has been serving as the NAB's Group Executive in charge of Business and Private Banking since 2020.
Read MoreThe December quarter retail sales data from the Australian Bureau of Statistics, released on Tuesday, sheds light on why investors warmly received the results and updates from Myer and Nick Scali, the Sydney-based furniture chain.
Read MoreToyota Motor Co has joined its fossil fuel peers – Shell, Exxon Mobil, and Chevron – in demonstrating the lucrative opportunities still available in the oil industry.
Read MoreThe Reserve Bank left its cash rate unchanged at 4.35% after its first meeting of the year on Tuesday. Nevertheless, it hinted at the possibility of rate hikes to control inflation, although it also suggested that further rate increases might not be necessary, depending on inflation and economic indicators.
Read MoreDe Grey Mining (ASX:DEG) has entered into an exclusive option deal with Kalamazoo Resources to potentially acquire the Ashburton gold project in WA's Pilbara.
Read MoreDespite a 20% slide in earnings for the six months to December, furniture retailer Nick Scali (ASX:NCK) has maintained its interim dividend at 35 cents a share.
Read MoreFed Chair Jay Powell effectively conveyed his message during his 60 Minutes interview on Sunday night, as reflected in the subsequent market movements.
Read MoreFederal Reserve Chair Jay Powell has once again cautioned investors not to expect a rate cut from the central bank in March and emphasised the prudence the Fed will exercise in reducing the key federal Funds Rate over time.
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