At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. The benchmark index is currently up 0.6% to 7,066.2 points.
Here’s what has been happening on the market today:
James Hardie results
The James Hardie Industries plc (ASX: JHX) share price is tumbling lower today following the release of its fourth quarter results. For the three months ended 31 March, the company reported a 20% increase in sales to US$807 million and a 44% jump in adjusted net income to US$124.9 million. This led to its full year sales coming in 12% higher year on year at US$2,908.7 million, with adjusted net income rising 30% to US$458 million. This appears to have fallen short of the market’s expectations.
St Barbara downgrades guidance
The St Barbara Ltd (ASX: SBM) share price is crashing lower today after downgrading its production guidance and increasing its cost guidance. Due to issues at its Leonara and Simberi operations, consolidated production is expected to be between 330,000 and 360,000 ounces in FY 2021. This compares to its previous guidance of 370,000 to 380,000 ounces. Whereas its all-in sustaining costs (AISC) is expected to be A$1,547 and A$1,695 per ounce, up from between A$1,440 and A$1,520 per ounce.
Nuix share price rebounds
The Nuix Ltd (ASX: NXL) share price is rebounding on Tuesday following the release of its investor update. The analytics company used the event to apologise to shareholders over a series of failings since its IPO at the end of last year which has led to its share price collapsing. Nuix advised that it will be reviewing its governance in light of the missteps.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Tuesday has been the Nuix share price with a 9% gain following the investor day event. Whereas the worst performer has been the St Barbara share price with a sizeable 8.5% decline after downgrading its guidance.
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More reading
- Latest 2 ASX shares to be upgraded by brokers to “buy” today
- St Barbara (ASX:SBM) share price crashes 10% on guidance downgrade
- South32 (ASX:S32) increases capital returns by $258m and sets climate goals
- Why the Commonwealth Bank (ASX:CBA) share price is in the spotlight today
- James Hardie (ASX:JHX) share price on watch after strong Q4 result
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia has recommended Nuix Pty Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post ASX 200 up 0.6%: James Hardie Q4 update, St Barbara sinks, Nuix jumps appeared first on The Motley Fool Australia.
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