Myer Holdings Ltd (ASX: MYR) shares are leaping higher today.

The All Ordinaries Index (ASX: XAO) department store owner closed yesterday trading for 17.5 cents. In morning trade on Wednesday, shares are changing hands for 19 cents apiece, up 8.6%.

For some context, the All Ords is up 0.3% at this same time.

This outperformance follows the release of Myer’s full-year FY 2026 results.

Here are the highlights.

Myer shares jumping higher

For the 12 months to 25 July, Myer reported total sales of $4.09 billion, up 0.7% from FY 2025 on a comparable basis.

The company’s cost of doing business (CODB) came in at $1.19 billion, which management said reflected the inclusion of Myer Apparel Brands and investments to drive strategic priorities.

Myer shares are soaring today, despite the company reporting underlying earnings before interest and tax (EBIT) of $139 million, down 7% year on year on an actual basis and 23.5% lower on a pro forma basis.

On the bottom line, the department store reported underlying net profit after tax (NPAT) of $42.5 million, down 2.9% on an actual basis and down 32.1% on a pro forma basis.

With profits sliding, Myer will not pay a final FY 2026 dividend. The company paid a fully franked interim dividend of 1.5 cents a share on 21 May.

As for the first eight weeks of FY 2027, Myer’s comparable sales are up 0.2% while actual sales are 2.7% lower than the first eight weeks of FY 2026.

What did management say?

Commenting on the results that are lifting Myer shares today, chair Olivia Wirth said, “The second half of FY26 was characterised by a volatile and significantly more challenging macroeconomic and retail environment than 1H26 or FY25.”

Wirth added:

While our performance in the first four months of 2H26 was mixed, including a stronger May, we observed a material downturn in consumer sentiment. This was particularly evident in June and July, adding to subdued consumer sentiment and weak discretionary spending.

Despite these challenges, we continued to progress our Myer Group Growth Strategy, Value Creation program and integration activities.

Can Solomon Lew revive Myer shares?

Even with today’s gains factored in, Myer shares remain down 60.4% since this time last year.

But the company appears to be banking on the return of billionaire investor Solomon Lew to help turn the ship around.

In a separate announcement this morning, Myer revealed that Lew has been appointed to the board as a Non-Executive Director, effective tomorrow, 24 September.

Lew, Myer’s largest shareholder, was voted off the board back in 2002.

Commenting on his appointment, Wirth said:

We are pleased to welcome Sol to the board. His deep retail expertise and strong economic alignment to Myer Group as our largest shareholder will be important in helping to drive long-term value creation for all our shareholders.

Sol knows the retail sector inside and out. We are confident that the board and Myer Group will benefit greatly from his vast experience and expertise.

The post Why are Myer shares rocketing 9% on Wednesday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Myer. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Insurance Australia Group Ltd (ASX: IAG) share price is in focus today after the ACCC blocked its planned acquisition of RAC Insurance, citing concerns over reduced competition in Western Australia’s car and home insurance markets.

What did Insurance Australia Group report?

• The ACCC has formally opposed IAG’s proposed acquisition of RAC Insurance (RACI).
• The decision follows an in-depth Phase 2 review under the new formal merger regime.
• If approved, IAG’s WA market share would have climbed to 55–65% in motor insurance and 50–60% in home and contents.
• IAG currently supplies insurance products nationally under brands like NRMA, CGU and WFI.
• The determination does not impact IAG’s other business activities or previous acquisitions.

What else do investors need to know?

The ACCC found that combining IAG with RACI would substantially lessen competition for both motor vehicle and home insurance in Western Australia. The regulator noted that other insurers wouldn’t provide enough competitive pressure to offset this.

The proposed deal was first opposed by the ACCC in December 2025, under the informal regime. IAG resubmitted for approval under the formal merger rules that started in January 2026. The process included detailed consultation and analysis of submissions from industry stakeholders.

If the parties wish to challenge this determination, they may lodge a public benefit application for further review, which allows a separate consideration of the potential benefits versus the public detriment.

What’s next for Insurance Australia Group?

IAG is now expected to maintain its existing brands and strategies in Western Australia without the RAC Insurance acquisition. The group still has a strong presence through brands like NRMA and CGU, and previously announced growth plans, including digital innovation and customer experience enhancements.

Any further action on the acquisition will depend on whether IAG decides to pursue a public benefit application with the ACCC. Otherwise, IAG’s focus is likely to remain on organic growth in existing markets and delivering value for shareholders.

Insurance Australia Group share price snapshot

Over the past 12 months, Insurance Australia Group shares have declined 3%, trailing the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.

View Original Announcement

The post ACCC blocks Insurance Australia Group’s RAC Insurance acquisition appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Some of the best ASX shares aren’t really about Australia at all anymore. Zip Co Ltd (ASX: ZIP) and Catapult Sports Ltd (ASX: CAT) have both been smashed over the past year, but their real story is playing out overseas. And that global growth engine is exactly what makes these ASX shares worth a second look.

Zip rose 1% on Tuesday to $2.24, but remains down 52% over 12 months. Catapult shares climbed 6% to $3.13, still 56% lower than a year ago. Beaten-up share prices, sure, but the underlying businesses tell a very different story.

Zip: the US is the whole game now

After trading between $1.38 and $4.93 over the past 12 months, this ASX share faces plenty of potential catalysts, chief among them continued growth in its increasingly lucrative US market.

A broader tech sell-off, competition worries, slowing growth fears, geopolitical uncertainty and higher-for-longer interest rates have all hammered sentiment. But look past the noise, and the real story is where Zip’s growth is actually coming from. The company has spent years reshaping itself around product development, profitability and international expansion. And the US now sits at the centre of everything.

The numbers back it up. The US accounted for roughly two-thirds of Zip’s revenue in FY26. Revenue from that market surged 44.3% in US dollar terms, dwarfing the 4.6% growth recorded across ANZ.

Customer trends confirm the shift. Active US customers jumped 9.3% to 4.65 million, while ANZ customers actually shrank 8% to 1.88 million. Zip expects US total transaction value to grow more than 30% in FY27, making American expansion arguably the single biggest driver of this ASX share’s earnings and valuation from here.

A proposed Nasdaq dual listing could add another catalyst, lifting Zip’s profile among US investors and supporting its ambitions in the world’s largest BNPL market.

For anyone eyeing Zip, that’s a genuinely compelling setup: a beaten-down share price, accelerating earnings growth, solid broker support, and a massive US opportunity still unfolding.

Catapult: the sport-tech flying under the radar

Catapult builds athlete performance and analytics technology used across elite sport, with customers spanning the AFL, NRL, Premier League, NFL, NBA, MLB and international rugby.

What makes this ASX share genuinely interesting is how deeply embedded its technology becomes. Clubs use Catapult to measure physical workloads, review video, assess tactical patterns and manage preparation.

Over time, more of those functions get folded into the same ecosystem. Years of performance data build up inside Catapult’s systems, creating serious switching costs and sticky, recurring revenue.

The results reflect that stickiness. Annualised contract value rose 28% to US$133.8 million in FY2026. Revenue climbed 19% to a record US$140.7 million, driven by SaaS revenue of US$118.6 million, up 21%. SaaS and other recurring revenue now makes up 95% of total revenue.

Growth here comes from three angles: signing new organisations, expanding within existing customers, and cross-selling more of its software suite. With major leagues, clubs, universities and sporting programs scattered across the globe, this ASX share still has plenty of room to run.

The post Down over 50%: 2 ASX shares to buy for global growth appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther has positions in Catapult Sports. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Sports. The Motley Fool Australia has positions in and has recommended Catapult Sports. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.