Domino’s Pizza (ASX:DMP) shareholders are set to experience a 30% reduction in their final dividend as the once high-flying fast-food group faced a significant setback in the fiscal year ending June 30.
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Woolworths (ASX:WOW) shareholders are set to benefit from a 13% increase in the full-year dividend as the supermarket giant disclosed robust growth in revenue and earnings for the year ending June 25.
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Following Moody's and Fitch, S&P Global has joined the ranks of ratings agencies expressing concerns about the US banking sector.
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On Monday night, the third major global rating agency issued downgrades or warnings regarding numerous mid-level banks.
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Investors in Hong Kong and mainland China have expressed disappointment following the People's Bank of China's (PBoC) modest rate cut and the country's securities regulator's push for share buybacks among Chinese listed companies.
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Shares of online retailer Kogan (ASX:KGN) faced a sharp decline on Tuesday as investors reacted to the company's 2022-23 results. The shares experienced a 16% drop at one point, settling around a 14% decrease by midday. The financials, which lacked encouragement, confirmed that the end of the pandemic and the reopening of the economy had posed challenges, mirroring the struggles faced by many online businesses.
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Australian supermarket operator Coles (ASX:COL) has reported a 4.8% rise in its full-year cash profit, amounting to $1.1 billion, driven by a solid surge in revenue from its grocery division.
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Woodside Energy (ASX:WOO), driven by a surge in oil and gas production following its merger with BHP's petroleum business last year, has posted a remarkable 6% rise in first-half profit, reaching a record high.
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Australian-Argentinian lithium conglomerate Allkem (ASX:AKE) has positioned itself favorably for an impending merger with its US-based counterpart, Livent, following the disclosure of its robust 2022-23 financial performance.
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Contrary to sensational headlines, the 37% drop in earnings and subsequent dividend reduction from BHP, the global resources company, shouldn't come as a shock.
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Elders' (ASX:ELD) shares experienced a decline on Monday following an unexpected earnings downgrade for the 2022-23 financial year.
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Global plumbing supplies group Reliance Worldwide (ASX:RWC) witnessed a decline of over 8% in its shares yesterday as its results for the 2022-23 period fell short of expectations.
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Shares of homewares retailer Adairs (ASX:ADH) experienced a substantial decline of more than 15% during Monday trading.
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Strong indications emerged on Monday that Solomon Lew might consider dismantling his vast $3.5 billion fashion retail conglomerate, Premier Investments, following the unexpected resignation of CEO Richard Murray.
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Reuters reported early on Monday that Asian investors were holding their breath, waiting to see how committed Beijing was to policy easing through anticipated rate cuts. Their fears were met with only a slight 0.10% reduction in the Loan Prime Rate (LPR), from 3.55% to 3.45%.
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Westpac (ASX:WBC) has disclosed an unaudited net profit of $1.8 billion for the quarter ending on June 30.
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Ampol (ASX:ALD), following an unforeseen breakdown at its Brisbane oil refinery, has reported a 26% decrease in core net profit for the first half of the year ending in June.
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The A2 Milk Company (ASX:A2M) has announced a notable 27% rise in profit for the fiscal year 2022-23.
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The global events diary slows this week, but that doesn't mean there won't be major events to hold investor attention.
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The most significant five days of the June 30 reporting season lie ahead this week, featuring 110 ASX 200 companies set to report their financials. The list is dominated by BHP, which will be unveiling its full-year figures tomorrow.
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On Friday, the People's Bank of China (PBOC) set a significantly stronger daily fixing for the yuan, causing the currency to recover from the 9-month low it hit on Thursday.
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Iron ore prices managed to rise, while oil prices ended lower, copper saw a slight increase, gold experienced a decline, and thermal coal prices rose.
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Two months after the removal of bans on Australian coal, Chinese imports of coal from Australia surged to their highest levels in three years during July. China had imposed these bans in 2020, but they were lifted on May 18 this year. In this short span, inbound shipments have seen a remarkable increase, with China also boosting its purchases of Russian and Indonesian coal.
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August has proven to be a challenging month for global stock markets, and the ASX is poised to continue its struggle this week. After experiencing a 2.6% decline last week, the ASX is expected to open on a negative note, with the share price index indicating a 23-point drop at the Saturday morning close (Sydney time).
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Global stock markets are set to experience turbulence following the news that the beleaguered Chinese property behemoth, China Evergrande, has filed for bankruptcy protection in a New York court.
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The decline in lithium prices, particularly in the crucial Chinese market during late 2022 and early 2023, continued to weigh on the performance of SQM, the Chilean-based second-largest global lithium group, trailing behind the US-based Albemarle.
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For the second time in three months, Evolution Mining (ASX:EVN) has expanded the mineral resource size at its Ernest Henry copper and gold mine in northern Queensland, now exceeding 100 million tonnes of ore containing valuable copper and gold.
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On Thursday in the US, a bullish mix of strong economic data on building starts, industrial production, unemployment claims, and Walmart's latest quarterly sales and earnings report unfolded.
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The recent purchases of shares by Berkshire Hathaway in three US home builders have stirred interest, though they lack the opportunistic flair of previous endeavors such as venturing into the oil and gas sector with Chevron and Occidental last year, or securing a stake in a tech giant, as was the case years ago with Apple.
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On Thursday, China's economic concerns and the surge in US bond yields triggered a slide in markets across Asia, pushing some to their lowest points in nine months.
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The July jobs data, revealing a surge in unemployment and a decline in new job creation, is poised to be seized upon by market observers with a penchant for interpreting every hint of weak data as a precursor to recession.
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Beacon Lighting (ASX:BLX) is not letting the 2022-23 performance slide hold it back from continuing its expansion program. The company states that it still intends to open an additional eight stores in this financial year to supplement its current 119-store portfolio. Some of these openings were postponed from the 2022-23 year.
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Evolution Mining (ASX:EVN), a prominent gold mining company, has announced a reduction in its final dividend to 2 cents per share, down from 3 cents in the previous year. This decision follows a decline in earnings reported for the fiscal year ending on June 30.
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Super Retail Group (ASX:SUL) has announced a special dividend of 25 cents per share alongside a final dividend of 44 cents, following the company's report of increased sales and earnings for the year ending on July 1.
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Kerry Stokes' conglomerate, Seven Group Holdings (ASX:SVW), can attribute its robust revenue and earnings growth of over 20% to the stellar performance of its industrial entities, namely WesTrac, Coates, and Boral, during the fiscal year ending on June 30.
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Telstra (ASX:TLS) announced a significant 13% increase in net profit, amounting to $2.1 billion, for the fiscal year ending on June 30. Shareholders will witness a 3% rise in the full-year payout, reflecting a portion of this improvement.
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The Chinese-controlled thermal coal miner and exporter, Yancoal Australia (ASX:YAL), has reduced its interim dividend by 28% to 37 cents per share (fully franked) due to declining revenue and earnings in the six months leading up to June, attributed to sliding world prices.
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Concerns over the impact of China's property market turmoil intensify as Zhongrong International Trust, a major wealth manager in China, confirms a string of missed payments on financial products sold to investors across the nation.
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One way or another, Chile’s SQM states its involvement with Azure Minerals (ASX:AZS) in developing the highly prospective Andover lithium deposit in the Pilbara region of WA. Azure has rejected a $2.31-per-share offer from SQM (Sociedad Química y Minera de Chile), valuing the Australian lithium developer at A$901.4 million.
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The bad news about China’s embattled property sector keeps on coming, with major player Country Garden struggling to remain solvent, investment sliding again in July, and the first fall in house prices recorded last month for this year.
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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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