5 of the craziest things making news on the ASX this week

A woman is excited as she reads the latest rumour on her phone.A woman is excited as she reads the latest rumour on her phone.

It’s been a good week for ASX fans, and there’s been plenty of news to catch their eye.

The S&P/ASX 200 Index (ASX: XJO) has lifted 1.34% so far this week. Meanwhile, the All Ordinaries Index (ASX: XAO) is up 1.2% week-on-week right now. Both indices are currently trading at near-six-month highs.

So, which stocks have been helping to bolster the market? Keep reading to find out.

5 ASX shares making big news this week

Qantas posts shock guidance

Is it a bird? Is it a plane? No, it’s a flying kangaroo. The Qantas Airways Limited (ASX: QAN) share price soared 5% on Wednesday after the company surprised the market with a guidance upgrade just months after tipping its first post-COVID profit.

The ASX airline share now expects to reveal between $1.35 billion and $1.45 billion of underlying profit before tax for the first half of financial year 2023. That’s $150 million higher than its previous projection.

Kogan eyes historic recovery

Continuing this week’s good news, Kogan.com Ltd (ASX: KGN) shares launched 8% yesterday after the company’s CEO tipped it to post “historical operating margins during the second half.”

That probably had long-term investors jumping for joy. The online retailer’s stock has dumped a whopping 85% since its 2020 high.

BWX flags return to trade after 3-month freeze

Recent times haven’t been so kind to skin and hair care company BWX Ltd (ASX: BWX), however. Its share price hasn’t gone anywhere since August amid confusion over its recent earnings.

But BWX this week flagged its audited earnings will likely drop on Monday, with its share price expected to thaw on Tuesday.

BrainChip surges amid Amazon appointment

Meanwhile, the share price of ASX 200 artificial intelligence company BrainChip Holdings Ltd (ASX: BRN) has rocketed 16% this week.

Its gains came amid news of the company’s new chief marketing officer, former Amazon.com Inc (NASDAQ: AMZN) face Nandan Nayampally.

Coal stocks pop, then drop

Finally, the week was also good to ASX 200 coal shares, until it wasn’t.

Stock in Whitehaven Coal Ltd (ASX: WHC), for instance, lifted 17% between Monday’s open and Wednesday’s close. However, Thursday saw it tumble 7%.

That came despite no price-sensitive news from the energy giant. However, coal prices likely played their part.

Additionally, word that Whitehaven managing director and CEO Paul Flynn offloaded $7.9 million of the company’s stock might have weighed on its share price yesterday.

The post 5 of the craziest things making news on the ASX this week appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of November 1 2022

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon and Kogan.com ltd. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Amazon and BWX Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/BhO0iUt

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s