The ACCC reckons Transurban, the toll road giant may have just about reached the limit of its ability to invest in the sector in Australia after raising doubts yesterday about its plans to take an interest in the huge WestConnex project in Sydney.
Read MoreThe strong jobs boom in late 2017 continues to slow as Australia’s unemployment rate rose to a 9-month high last month, despite an increase in the number of full-time roles.
Read MoreDuluxGroup has lifted interim dividend by a cent to 14 cents a share after lifting half year profit 9% to $79.2 million. But the market went right off the result as the day went on yesterday.
Read MoreThe news didn’t get any better yesterday for some small shareholders in Atlas Iron who are resisting the takeover offer from Mineral Resources.
Read MoreMyer was whacked by the big autumnal dry that wrecked its winter sales hopes in the three months to the end of April. But investors didn’t bother with the detail and hoisted the shares 16% higher to 43.5 cents.
Read MoreThe Federal Government’s main 2018-19 budget underpinning of a solid rise in wages is looking much harder to achieve after the March quarter Wage Price Index slowed in the three months to be unchanged over the year at 2.1%. The Australian Bureau of Statistics said yesterday the index rose 0.5% in the quarter, down from 0.6% in the three months to December 2017.
Read MoreBHP reckons its still on track to get rid of its unwanted oil and gas onshore shale assets in the US by the end of 2018.
Read Morea2 Milk Company share copped a hiding yesterday after the company provided what seemed to be a positive trading update for the nine months to the end of March.
Read MoreWarren Buffett’s Berkshire Hathaway has more than doubled its investment in Israel-based generic drugmaker Teva Pharmaceutical Industries, and confirmed it has become Apple’s second-largest shareholder.
Read MoreThe March quarter’s Wage Price Index (WPI) is out in a few hours (11.30am) and the second most senior official at the Reserve Bank says unemployment made have to fall by more than the central bank’s current forecast of 5.25% to get a bigger increase in wages than the current rate of around 2% a year.
Read MoreSteel production, along with iron ore imports are two closely watched statistics from China in Australia, and both were stronger than expected last month.
Read MoreShares in listed car dealer and refrigerated transport operator, Automotive Holdings tumbled nearly 10% yesterday after the company revealed an earnings downgrade in a gloomy trading update.
Read MoreThe bears have their fangs well and truly into the Telstra share price.
Read MoreBlueScope Steel shares had an up, down, flat sort of day yesterday after the company lifted its guidance for underlying earnings before interest and tax (EBIT) for the second (June 30) half helped by stronger margins at its plant in the United States.
Read MoreAgriculture services provider Ruralco, which is part of the Soul Patts-Brickworks corporate group – lifted first-half profit 29% to $16.1 million in the six months to March 31, despite tough trading conditions in the live export business.
Read MoreThe rebound in the fortunes of Kerry Stokes was confirmed yesterday when his key company, Seven Group Holdings upgraded its earnings guidance, which in turn saw its share price surge to a record high.
Read MoreThere’s a takeover battle for private hospital operator Healthscope which yesterday received its second takeover in a couple of weeks, this time from a Canadian investment group.
Read MoreAsset shuffling among the rats and mice of Australian rag trade retailing yesterday with troubled women’s fashionwear group, Speciality Fashion selling a range of brands and their $600 million or more a year in sales to rival group, Noni B for just $31 million.
Read MoreUnlike the latest result on Friday from GrainCorp and a big drop in earnings, there was no sign of the impact from growing dry across much of the eastern states in the half-year results from Elders yesterday.
Read MoreA 5% fall – to $3 – wasn’t unexpected as Telstra slipped out what amounts to a disguised earnings downgrade for the year to June 30, and an implicit warning of the tough times continuing into 2018-19 thanks to the gradual advance of the NBN.
Read MoreA quiet start to the week is expected today on local markets after a less than vibrant end to the week globally on Friday night, our time.
Read MoreWas the first half of the 2017-18 financial year as good as it gets for Australia’s four major banks?
Read MoreThe US earnings season continues to wind down this week, with around 10 S&P 500 companies expected to report results and most of those will be retailers, led by the giant Walmart.
Read MoreOn the whole it was a positive week for commodities with gold, oil, copper, silver and iron ore all enjoying gains.
Read MoreA big week for the 2018-19 budget strategy of the Federal Government with the Wage Price Index for the March quarter and the April jobs data to be released.
Read MoreNews Corp is undergoing its most radical change since the split of June 2013 as digital subscriptions in newspaper and from the newly merged Foxtel/Fox Sports business becomes the most important revenue and profit driver, supported by the company’s growing digital real estate operations in Australia and the US.
Read MoreNo problems with Chinese inflation for April with producer price inflation rising for the first time in seven months and consumer price inflation about steady.
Read MoreAccounting software company, Xero, which shifted its primary market listing to Australia recent says it has made its first positive earnings before interest, tax, depreciation and amortisation (but a bottom line loss nevertheless).
Read MoreApologies just don’t cut it any more, judging by the outcome of the AMP board meeting yesterday.
Read MoreThe Commonwealth Bank shares were hit hard yesterday, falling to a near five year low after the bank produced what investors took to be a weak third quarter trading update, and yet another fine to settle a legal action from regulators.
Read MoreInvestors marked down CSR shares yesterday despite the building products reporting what seems to have been a solid 2017-18 result, and a small rise in final and annual dividend.
Read MoreVacuum cleaner chain Godfreys threw in the towel yesterday in desperation and told shareholders to take the money and run after revealing a nasty 27% slide in sales in the past fortnight.
Read MoreNufarm, the crop protection group, warned earlier this week that the big dry across much of Australia’s Eastern States would impact 2017-18 earnings (helped by poor weather in the US and Europe). Yesterday, explosives maker, Incitec Pivot cited the dry weather as one of the reasons for its weak first half performance.
Read MoreThe Reserve Bank of New Zealand has made it clear that the country’s key official rate won’t be changing any time soon.
Read MoreThe core of the Federal Government’s election budget is a belief that not only will the revenue boost that emerged late last year will continue into 2019-20, but that more importantly wage growth will wake up and surge over the next two years, with the rise starting in the next few weeks.
Read MoreRemember all the hand-wringing a month ago when weak Chinese trade data for March had analysts and others suggesting that the economy was in trouble and the trade skirmishes with the Trump administration had started hurting.
Read MoreShares in crop-protection company Nufarm dipped 0.9% yesterday after it joined the downgrade club – with the cause the gathering big dry in Australia and cold weather in parts of Europe and North America.
Read MoreInvestors sold off the shares in Fleetwood Corp yesterday (which makes caravans, recreational vehicles (RVs) as well as affordable housing) after it slashed its 2017-18 profit guidance by more than 50%.
Read MoreAs Apple showed last week, there’s nothing like the sniff of extra cash from a buyback to get shareholders sweet on you and so it is with the ANZ Bank which yesterday hinted it could double its current $1.5 billion buyback.
Read MoreIt was Bank Holiday Monday in the UK yesterday, so perhaps the bosses at CYBG were on a day off – perhaps that’s why they failed to inform the ASX that they had made an all-share takeover for Virgin Money worth more than £1.6 billion, or more than $A2.8 billion. A copy of the CYBG announcement was lodged with the ASX at 7.30 am Tuesday.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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