Indonesia plans to relocate its capital from Jakarta to the new city of Nusantara.
The new city will cost $35 billion and won't be finished until 2045.
Officials are using a range of promotional tactics to drum up interest.
Jakarta, on the northwest coast of Java at the mouth of the Ciliwung river, is Indonesia's capital and its biggest city.
It's home to some 10.6 million people and about 30 million in the metropolitan area. It's also sinking, with about 40% of the area below sea level.
The Indonesian government plans to move the capital to Nusantara, a new city being built on the eastern coast of Borneo, about 870 miles north of Jakarta.
It will cost an estimated $35 billion and won't be finished until 2045. However, about 6,000 government workers are expected to move there in time for the next president's inauguration in October.
The decision is not without precedent. Brazil shifted from Rio de Janeiro to Brasilia in 1960, while Abuja replaced Lagos as Nigeria's capital in 1991.
But this is the first time that the climate crisis has played a role in the process. In recent years, rising sea levels have made Jakarta the world's fastest-sinking megacity, which sparked the Indonesian government's decision to move the capital.
Take a closer look at Nusantara.
A new beginning
Getty Images
In August 2019, Indonesia's president, Joko Widodo, approved a plan to move the capital from Jakarta to Nusantara.
The site in East Kalimantan was chosen because it's close to the sea and there's a relatively low risk of earthquakes, tsunamis, or volcanic eruptions.
Under water
Donal Husni/NurPhoto/Getty Images
This mosque in Jakarta has been affected by rising sea levels. Excessive groundwater withdrawals have contributed to subsidence rates of up to six inches a year, and 40% of the city is now below sea level.
Environmental experts warn that a third of Jakarta could be submerged by 2050 if subsidence continues at the current rate.
Indonesia's government is also spending tens of billions of dollars on measures to try to stop flooding in Jakarta.
Flood risk
Earth Observatory/NASA
Researchers at NASA and partner agencies used data in 2020 to produce this map to identify areas of Jakarta under threat of being flooded.
'Nusantara' roughly translates to 'the outer islands'
Datawrapper
The site was chosen to reflect Widodo's geopolitical vision and reflect Indonesia's unity as an archipelagic state. The country's 276 million people are spread across more than 17,000 islands.
Nusantara is on Borneo, one of the world’s largest islands
AFP via Getty Images
Borneo is known for its 140 million-year-old rainforests, home to endangered native species including the Bornean orangutan.
About three-quarters of the island is Indonesian territory, while the remainder is split between Malaysia and Brunei. Borneo has a total population of about 23 million people.
Construction began in July 2022
Construction is underway on Nusantara.
Firdaus Wajidi/Anadolu/Getty Images
Widodo sent some 100,000 workers to start building Nusantara, and the number of workers rose to between 150,000 and 200,000 as construction ramped up.
This is how the Nusantara site looked in April 2022
Earth Observatory/NASA
The satellite image was taken by the OLI-2, an operational land imager, on Landsat 9.
This is how it looked in February
Earth Observatory/NASA
A network of roads has been carved into the forest since 2022 so that the construction of government facilities and other dwellings can begin. The initial population is expected to be about 500,000, according to the project website.
Indonesia’s government has pledged to make the city 100% green
AFP via Getty Images
Policymakers have claimed that Nusantara will be a "green, walkable" metropolis, powered entirely by renewable energy by 2045.
Construction includes a plan to build a 50-megawatt solar plant, and aims to allow only electric vehicles by the end of this decade.
Some big names are involved in the project
Tony Blair Institute
Tony Blair, the former UK prime minister, and Abu Dhabi's crown prince, Mohammed bin Zayed Al Nahyan, are both on the steering committee for Nusantara. In October, the Tony Blair Institute signed a deal to build a research center in the new capital.
Indonesia has also used influencers to promote Nusantara
President Joko Widodo gives influencers a tour of Nusantara.
Nusantara Capital Authority Public Relations
Last year, Widodo took dozens of influencers on a tour of the $35 billion site in a bid to ease concerns about deforestation. "Remember, this is an industrial forest. It's chopped down every six years. It is not a natural forest," he reportedly said. "Don't get it wrong."
The social-media stars later posted gushing videos about the project
Anadolu/Getty Images
TikTok star Jerhemy Owen told his roughly 3 million followers that Nusantara would be "the smartest and most eco-friendly city in the world." A YouTube video showing footage of Widodo's tour has racked up over 700,000 views.
It's not clear where the money is going to come from, though
Tomohiro Ohsumi/Getty Images
While the city is expected to cost about $35 billion, the Indonesian government has only committed to providing about 20% of the funds, and it's struggling to find other sources of finance. In March 2022, Japan's SoftBank pulled out of investing in the project.
Google Business Profile, formerly known as Google My Business, lets business owners create profiles to reveal details about their services.
Getty Images
Google Business Profile lets owners control how their business appears in Google search results.
Google Business Profile is completely free, and caters primarily to smaller local establishments.
Business owners can add images, contact information, descriptions of services, reviews, and more.
Ever wonder why certain businesses pop up on Google Maps while others don't show unless you search for them specifically? Or why some businesses pop in search results up with all their relevant information, such as operating hours and the phone number, crisply displayed?
In most cases, when a business is prominently displayed on Google Maps or in Google search results, it's because its owners took the time to use Google Business Profile to improve the way their business appears to Google users.
Launched in 2014 as Google My Business and changed to Google Business Profile in late 2021, this service from Google lets business owners create a profile for their business to which they can add images, contact information, a description of their services, reviews, and more.
Google Business Profile is separate from Google's online advertising program, known as Google Ads. Regardless, Google Business Profile is an invaluable tool that small, local businesses can use to maximize their exposure to potential clientele. And it's completely free.
Sundar Pichai lauded the service in Google's 2023 Economic Impact Report: The Google CEO noted that one local Missouri business attributed 90% of its new customers to Google Business Profile.
How do I set up Google My Business/Google Business Profile?
Create a Google Business Profile by going to Google Maps. You can add your business' location, website information, and other helpful attributes.
Michelle Mark/Business Insider
There are several ways to add your business to Google Business Profile, but the easiest route is to go through Google Maps.
Simply open Google Maps, right click anywhere on the Google Maps page and then click "Add your business" from the popup window. You will then be prompted to sign into Google, then you simply follow the step-by-step prompts. You'll be asked to confirm that your business has a physical location that people can visit, and then to add the address and contact information for it. You'll next add your website information, and then you choose how you want to confirm your profile, the options being a text or phone call with a verification code.
You can also add attributes to your business profile, such as whether your business offers free WiFi, wheelchair-accessible seating, dining options, etc. These attributes will show up when people search for your business on Google, Google Maps, or Google Pay.
Businesses without locations people can visit can still set up on Google Business Profile, such as service-based businesses that make deliveries or house calls, but in most cases, the benefits of Google Business Profile are limited to brick-and-mortar establishments where actual customer contact occurs.
How do I access Google Business Profile?
Once you have created or claimed your business on Google Business Profile (sometimes your business will already show up on Google; claiming it lets you take control of how it appears there), you can access it via Google Search. Just sign into Google and enter your business's name, or just type "my business" into the search bar.
You can also access your profile through Google Maps. While signed into Google, go to Maps and click on your profile image, then click on your business profile.
How long does it take to verify Google Business Profile?
It can take up to seven days for your business to be verified by Google Business profile, but in most cases, it will happen much faster than that. You will know your business has been verified by Google because Google will inform you with a message.
You will also see a blue check logo next to your business' information when you are signed into Google that confirms your business has been verified by Google. If your business is not visible on Google, is lacking this check mark, or you experience any other issues with Google Business Profile, contact Google for help.
Google Trends lets you look up data on search terms and topics — including when and where the terms are most popular.
NurPhoto/Getty Images
You can use Google Trends to understand how often people search for certain terms or topics.
Google Trends lets you customize search data by region, time period, category, and type of search.
You can also compare search terms to see how each fares among different audiences.
Have you ever wondered how something became viral on social media? Or whether people in your state are actually excited about the latest iPhone?
Google Trends allows you to search, track, and compare Google search terms and topics over a period of time and by location.
It can be particularly useful for business owners to understand how their brand fares with customers, showing how often they search for it and when it hits peak popularity.
Google Trends is helpful for content creators and product developers, too, since you can easily access when certain terms are most popular. This includes seasonal trends (for example, "Christmas presents for mom" ticks up in November and December in the United States).
From the outside, Google Trends can seem tricky, so let's break it down.
How to use Google Trends to search for a term
1. First, go to trends.google.com and type in the search term you want to view or start with an example.
Google Trends' homepage auto-fills the search box with suggested terms that have been popular within the last 24 hours, like "PGA Championship" or "Bridgerton."
Michelle Mark/Business Insider
2. Specify your search term — this is important if the company or product has a more general name, like Alphabet, so be sure to select "Alphabet Inc." — not the letters.
Google Trends will suggest terms related to your search, such as Alphabet the corporation or alphabet the collection of 26 letters.
Michelle Mark/Business Insider
3. Google Trends will then generate a series of charts based on your search term, which we'll break down below.
How to customize a Google Trends search
1. To customize your Google Trends search, first search for a term or topic — here, for example, using Apple.
2. To customize the "Interest over time" chart for your search term, use the four drop-down menus to see more specific metrics for region, time period, category, and the type of search (these include searches for web, Google Images, news, Google shopping, and YouTube).
Using the dropdown menus, you can filter Google Trends results for specific locations and timeframes.
Michelle Mark/Business Insider
3. For this example, we decided to see how often Alphabet Inc. was searched on Google News over the last 30 days in the United States in all categories.
The customized chart will change every time a different variant is chosen.
Michelle Mark/Business Insider
What we see above is a peak on April 26, 2024, just one day after Alphabet's earnings call, during which it reported major beats and the company's first dividend.
Below the "Interest over time" graph is an "Interest by subregion" graph — where you can specify where in the country (metro, city, or subregion) the search was the most popular.
Customize the subregion graph by using the drop-down menu on the right.
Michelle Mark/Business Insider
How to interpret what each graph on Google Trends means
Once you've searched a term or topic and customized some of its variants, understanding what the peaks (represented with a 100 on the graph) and plateaus actually mean can be confusing. Here's how Google describes it:
"Each data point is divided by the total searches of the geography and time range it represents to compare relative popularity. Otherwise, places with the most search volume would always be ranked highest."
"The resulting numbers are then scaled on a range of 0 to 100 based on a topic's proportion to all searches on all topics."
"Different regions that show the same search interest for a term don't always have the same total search volumes."
For the example we used above with Apple, this would mean that on August 18, Apple was one of the most popular search terms when compared to every other topic, for those searching on Google News in the US.
A zero rating, however, wouldn't mean that no one searched for Apple, but only a small number compared to the peaks.
How to compare search terms on Google Trends
1. To compare search terms, click on Compare and type in your terms or topics.
2. For this example, we will compare Alphabet with Microsoft and Meta, adding each by clicking on the "+" icon.
You can compare multiple search terms in Google Trends.
Michelle Mark/Business Insider
3. A series of graphs will be generated below, which you can then customize with time frame, category, region, and type of search.
4. After searching for a comparison between Alphabet, Microsoft, and Meta in the United States in the last 30 days in all categories on web search, we can see that Microsoft beat out the bunch in terms of frequency and volume of searches overall.
Google Trends lets you compare up to five terms at a time.
Michelle Mark/Business Insider
How to use related queries on Google Trends
Located at the bottom of your Google Trends search results is a box titled "Related Queries." Here, you will find the popular terms that often accompany or follow your selected search term. For example, people who searched for "Alphabet Inc." also searched for Alphabet, Amazon, and Google stock prices.
People searching for Alphabet Inc. are also searching for these related queries.
Michelle Mark/Business Insider
Within the "Related queries" box, you can click on a related search term like "Alphabet stock price" to see its search popularity and compare it to other searches.
See Google's 'Year in Search'
Every year, Google compiles a list of the year's top search trends in various categories like news, people, deaths, movies, sports teams, and more.
You can even see the top categories for searches people performed using Google Lens — Google's image recognition technology — and Google Maps.
Tragedy and destruction were key themes for the top-searched news events in 2023. The top five search terms were all related to war, death, or natural disasters:
War in Israel and Gaza
Titanic submarine
Turkey earthquake
Hurricane Hillary
Hurricane Idalia
The top-searched people of 2023 were mostly athletes:
Damar Hamlin
Jeremy Renner
Andrew Tate
Kylian Mbappé
Travis Kelce
The deaths that sparked the most Google searches in 2023 were all celebrities:
The first ASX mining stock to look at buying is Western Australia-based gold miner Regis Resources.
The team at Bell Potter is feeling very positive about the company’s outlook and sees a lot of value in its shares at current levels. Especially given its all-Australian operations and takeover appeal. It currently has a buy rating and $2.80 price target on its shares. The broker commented:
RRL is an established multi-mine gold producer with all its operating mines located in Western Australia. The Duketon Gold Project (located in the Laverton region 350km north, north-east of Kalgoorlie in WA) is RRL’s flagship project and comprises the Duketon North Operations (DNO) and the Duketon South Operations (DSO) which produce a combined ~300kozpa. As one of the largest ASX listed gold producers, we are attracted to its all- Australian asset portfolio and organic growth options which are unique at this scale. Furthermore, we see key opportunities in the fundamental, medium-term outlook and, in our view, these may also make RRL an appealing corporate target in the current conducive M&A environment.
Another ASX mining stock that could be a buy according to analysts is South32. It is a diversified miner with operations across a number of future-facing metals. This includes aluminium, copper, nickel, and zinc.
Morgans is a fan of the company due partly to the transformation of its portfolio and favourable commodity prices. It currently has South32 on its best ideas list with an add rating and $4.10 price target. The broker commented:
S32 has transformed its portfolio by divesting South African thermal coal and acquiring an interest in Chile copper, substantially boosting group earnings quality, as well as S32’s risk and ESG profile. Unlike its peers amongst ASX-listed large-cap miners, S32 is not exposed to iron ore. Instead offering a highly diversified portfolio of base metals and metallurgical coal (with most of these metals enjoying solid price strength). We see attractive long-term value potential in S32 from de-risking of its growth portfolio, the potential for further portfolio changes, and an earnings-linked dividend policy.
Should you invest $1,000 in Regis Resources Limited right now?
Before you buy Regis Resources Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Regis Resources Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro 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.
The ASX growth stockClose The Loop Ltd (ASX: CLG) has excellent potential for returns, in my opinion. I’ve bought multiple parcels of shares for my portfolio, and I’m going to explain why I’m bullish about the business.
With the Close The Loop share price down significantly from its former heights â see below â I think it’s a good time to invest.
The business collects and repurposes products through takeback programs and also provides sustainable packaging products. Its goal is for zero waste to go to landfills by recovering a wide range of electronic products, print consumables, cosmetics, plastics, paper, and cartons. It’s also involved in reusing toner and post-consumer soft plastics for asphalt additives.
The ASX growth stock wants to be a global leader in the fast-growing ‘circular economy’, with an intention for global growth.
It currently operates in four places â Australia, the USA, Europe and South Africa. A large majority of its revenue comes from the US and Australia.
Growth of the circular economy
Close The Loop says the world has a circularity problem, with only a small percentage of consumer electronics being reused.
But, it has already reached a sizeable scale. It re-manufactures over 500,000 electronic consumables annually, as well as processing over 25 million print consumables each year. What can’t be re-used is recycled.
The company notes that major original equipment manufacturers (OEMs), like HP, have ambitious ESG targets to increase circularity in the economy. Close The Loop suggests those OEMs need to partner with providers to achieve those goals.
HP is a partner of the ASX growth stock, with a three-year revenue-sharing contract. HP wants to reach 75% circularity for products and packaging by 2030 â it has reached 40% circularity by weight. HP also wants to use 30% postconsumer recycled content across HP’s personal systems and print product portfolio by 2025 â in 2022 it achieved 15%.
HP is just one business, there’s a lot of potential value for Close The Loop to provide and capture across the world.
Strong financial performance
The business is delivering good growth, helped by the acquisition of ISP Tek Services. In the FY24 first-half result, revenue increased 76% to $103.1 million, gross profit increased 94% to $37.3 million, underlying net profit before tax (NPBT) jumped 204% to $15.2 million and operating cash flow increased 105% to $12.3 million.
Close The Loop used a lot of the cash generated to improve its balance sheet â HY24 net debt (debt minus cash) decreased by $11.8 million, with a $4.2 million repayment of borrowings.
It’s very pleasing to see the company’s profit margins are rising at the various profit levels, as it means net profit can grow much quicker than revenue. And the revenue outlook is very positive, in my opinion.
Cheap valuation
The forecast on Commsec suggests the ASX growth stock could achieve 4.2 cents of earnings per share (EPS) in FY24, which would put the Close The Loop share price at 8x FY24’s estimated earnings. EPS could rise by 38% over the next two years to 5.8 cents, which would mean it’s trading at just 5.6x FY26’s estimated earnings.
In my opinion, it would be very reasonable for this business to trade in 2026 at say 12x FY26’s earnings, which would mean the Close The Loop share price could double in two years if that happened.
I expect the business to have a long growth runway, not just two years. I’m excited about what it can achieve over the rest of this decade.
Should you invest $1,000 in Close The Loop Ltd right now?
Before you buy Close The Loop Ltd shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Close The Loop Ltd wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Tristan Harrison has positions in Close The Loop. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Close The Loop. The Motley Fool Australia has recommended Close The Loop. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
While the yields on offer from term deposits are a lot more attractive than they were a couple of years ago, they still don’t match up to some of the dividend yields available on the Australian share market.
So, if your risk tolerance allows for it, it could pay to invest in shares rather than term deposits. But which ASX dividend shares?
Three buy-rated ASX dividend shares that are tipped to provide investors with 5%+ yields are listed below. Here’s why they could be worth considering:
The team at Bell Potter is expecting some big yields and major upside from Accent Group’s shares. It is a footwear focused retailer with over 800 stores across a large number of brands. This includes Sneaker Lab, Platypus, Stylerunner, and The Athlete’s Foot.
Bell Potter currently has a buy rating and $2.50 price target on its shares.
As for that all-important income, the broker is expecting fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.80, this represents dividend yields of 7.2% and 8.1%, respectively.
The team at Citi thinks that Stockland could be an ASX dividend share to buy.
It is a property company that develops, owns, and manages retail centres, business parks, logistics centres, office buildings, residential communities, and retirement living villages.
Much like Accent, the broker expects some very attractive and term deposit-busting yields from its shares in the near term. The broker is forecasting dividends per share of 26.2 cents in FY 2024 and then 26.6 cents in FY 2025. Based on the current Stockland share price of $4.65, this will mean yields of 5.6% and 5.7% yields, respectively.
Citi currently has a buy rating and $5.20 price target on its shares.
A third ASX dividend share that is tipped to provide better yields than term deposits is Transurban.
It is a toll road giant with a growing number of important roads across both Australia and North America. This includes the Cross City Tunnel and Eastern Distributor in Sydney, and CityLink and the West Gate Tunnel Project in Melbourne.
Citi is a fan of the company and is forecasting dividends per share of 63 cents in FY 2024 and 65 cents in FY 2025. Based on the current Transurban share price of $12.43, this will mean yields of 5.1% and 5.2%, respectively.
Citi has a buy rating and $15.50 price target on its shares.
Should you invest $1,000 in Accent Group Limited right now?
Before you buy Accent Group Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Accent Group Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro 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 Transurban Group. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
There’s nothing quite like the sound of passive income from S&P/ASX 200 Index (ASX: XJO) dividend stocks landing in your bank account to put a smile on your face.
Okay, there’s no sound.
But I’m sure you know what I mean!
Aussie investors are a bit spoiled for choice when it comes to passive income stocks, especially with many offering full franking credits.
But I want to drill down to just one glorious ASX dividend stock today.
Before we look at the passive income potential of Rio Tinto shares, bear in mind that the yields you generally see quoted are trailing yields. Future yields may be higher or lower depending on a range of company-specific and macroeconomic factors.
In the case of Rio Tinto, the dividend payouts have come down from the heady years of 2021 and 2022 when the iron ore price was rocketing to all-time highs.
However, the final dividend paid in April this year was up 20% on the final dividend paid in April 2023.
And with the iron ore price up 16% since 4 April, proving more resilient than many analysts have been forecasting, I believe the passive income outlook for Rio Tinto shares remains quite strong.
With that said…
Mining Rio Tinto for annual passive income
Atop offering a juicy yield, Rio Tinto has a track record of delivering two fully franked dividends a year for more than a decade.
As for the past year, the ASX 200 miner paid a fully franked interim dividend of $2.61 a share on 21 September.
And Rio Tinto gave passive income a pleasant surprise when it reported its full-year results on 21 February.
Although revenue slipped 3% from 2022 to US$54.04 billion, and underlying earnings before interest, taxes, depreciation and amortisation EBITDA declined 9% year on year to US$23.89 billion, management declared a fully franked final dividend of $3.93 a share.
All told then, this glorious ASX 200 dividend paid out a total of $6.54 a share in fully franked dividends over the past 12 months.
Or $1,962 in passive income from just 300 shares.
Rio Tinto share price snapshot
Atop that very handy passive income (which we’ve established makes no sound when you receive it), Rio Tinto shares also offer the potential for capital gains.
Over the past year, the Rio Tinto share price has increased more than 21.9%, closing on Friday at $132.20 a share.
Should you invest $1,000 in Rio Tinto Limited right now?
Before you buy Rio Tinto Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Rio Tinto Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
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 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.
According to a note out of Citi, its analysts have retained their buy rating and $51.00 price target on this gaming technology company’s shares. This followed the release of the poker machine manufacturer’s half year results last week. Citi notes that those results were well ahead of both the market’s and its own expectations thanks largely to lower than expected costs. A strong performance from its Rest of World segment also helped to offset a slightly softer than expected half in the United States. The broker also notes that the Aristocrat Leisure will consider selling its digital assets. It is supportive of the move, given how their growth has slowed. However, the price it receives for these assets will be key. The Aristocrat Leisure share price ended last week trading at $46.28.
A note out of UBS reveals that its analysts have retained their buy rating and $330.00 price target on this biotherapeutics giant’s shares. UBS notes that the company’s collections partner, Terumo, has just released its latest quarterly update and it believes there are positives for CSL in there. This because Terumo’s update revealed that it has ramped up the rollout of CSL’s new Rika collection platform to more centres in the United States. So much so, Terumo’s Rika ramp up appears to be ahead of schedule, with the FY 2024 target already reached. This will be good news for CSL given the benefits of the very efficient new technology on plasma yields. The CSL share price was fetching $280.00 at Friday’s close.
Analysts at Morgan Stanley have retained their overweight rating on this location technology company’s shares with an improved price target of $17.50. This follows the release of the market darling’s recent quarterly update. Morgan Stanley highlights that Life360’s update, which was largely pre-released, revealed that its strong growth not only continued in the quarter but also at the start of the current quarter. This has led to the broker boosting its earnings estimates and valuation accordingly. The Life360 share price ended the week trading at $15.47.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Life360 wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in CSL and Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Life360. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Dow Jones index also crossed the 40,000-point mark for the first time ever on Thursday.
Seven of the 11 market sectors finished the week in the green.
Let’s review the week.
Consumer discretionary shares led the ASX sectors last week
It’s interesting to see ASX consumer discretionary shares at the top despite the obvious challenges for the sector today.
Consumers are starting to reduce their spending more and more as pandemic savings run low, and many economists think interest rates won’t be cut until very late in the year, or they could even go up again.
The latest Westpac Consumer Sentiment data is bleak, with sentiment at persistently pessimistic levels for the past two years and “showing few signs of lifting”, according to senior economist Matthew Hassan.
Hassan commented:
Indeed, outside of the deep recession of the early 1990s, this is easily the second most protracted period of deep consumer pessimism since we began surveying in the mid-1970s, with all other sentiment slumps lasting nine months or less.
The latest retail figures from the Australian Bureau of Statistics revealed the “weakest growth on record” outside the pandemic and the introduction of the GST.
Turnover rose just 0.8% for the year to 31 March. This is despite massive population growth driven by high immigration. More than half a million migrants (net) moved here in FY23.
Despite all of this, consumer stocks won the week. Perhaps the cost-of-living measures announced in the Federal Budget on Tuesday prompted investors to buy discretionary stocks?
As my colleague Seb mused: “… more money in pockets from both the tax cuts and the energy rebates will probably disproportionately flow through to consumer discretionary shares.”
Let’s take a look at some of the best performers within the consumer discretionary sector this week.
Which discretionary retail stocks outperformed this week?
The most obvious one to highlight is Aristocrat Leisure Limited (ASX: ALL) shares.
The gaming technology company smashed it out of the park this week. The Aristocrat share price skyrocketed a whopping 17.5% to close at $46.28 on Friday.
The bulk of that gain occurred on Wednesday when the company released its half-year results.
Aristocrat reported a 16.8% jump in net profit after tax (NPAT) to $723.3 million. Other positives were the fully franked interim dividend of 36 cents per share, up 20%, and an extra $350 million in share buybacks.
Among the other discretionary heavyweights, Lottery Corporation Ltd (ASX: TLC) shares rose 1.27% over the five days to finish at $5.19 on Friday.
Harvey Norman Holdings Limited (ASX: HVN) shares gained 1.29% to close at $4.32 on Friday. JB Hi-Fi Ltd (ASX: JBH) shares rose 0.94% to finish at $57.15.
Among the small-cap discretionary stocks, Supply Network Ltd (ASC: SNL) moved 6.38% higher over the week to finish at $22.
By the way, if you’re interested in buying ASX retail shares, top broker Goldman Sachs has just released its latest buying recommendations and 12-month share price targets for each of its favourite retail stocks.
Its top pick is Super Retail Group Ltd (ASX: SUL), owner of Rebel and Supercheap Auto.
ASX 200 market sector snapshot
Here’s how the 11 market sectors stacked up last week, according to CommSec data.
Should you invest $1,000 in Aristocrat Leisure Limited right now?
Before you buy Aristocrat Leisure Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Aristocrat Leisure Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Bronwyn Allen has positions in Harvey Norman. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Lottery. The Motley Fool Australia has positions in and has recommended Harvey Norman and Super Retail Group. The Motley Fool Australia has recommended Jb Hi-Fi. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
CEO Robert Hale Jr. spoke at UMass Dartmouth's commencement ceremony on Thursday.
The telecom billionaire gave each graduate two $500 payments.
Hale gifted the second $500 payment on the condition it goes to charity or someone in need.
A billionaire gifted graduating students at UMass Dartmouth with "envelopes full of cash" totaling $1,000.
Robert Hale Jr., the CEO of Granite Telecommunications, made the announcement during the school's commencement ceremony on Thursday. The school shared a video of the ceremony online, showing the moment Hale told the 1,200 graduates and their families.
"These trying times have heightened the need for sharing, caring and giving," Hale said. "Our community needs you and your generosity more than ever."
A UMass Dartmouth press release said security brought onstage two large duffle bags "packed with envelopes full of cash."
Hale told graduates that he had two envelopes to give them: one reading "gift" and the other reading "give."
UMass Dartmouth graduates received $1,000.
LawrenceSawyer/Getty Images
Hale explained that each student would receive $1,000 but added there was a "stipulation."
"The first $500 is our gift to you," Hale said. "The second $500 is for you to give to somebody else or another organization who could use it more than you."
If all 1,200 students received the $1,000, Hale's giveaway amounted to about $1.2 million.
During the ceremony, Hale also received the UMass Dartmouth Chancellor's Medal for his philanthropy work.
Representatives for UMass Dartmouth and Hale at Granite Telecommunications did not respond to a request for comment from Business Insider.
College graduation season in the United States this year has been rife with controversy, mostly due to the ongoing conflict in Gaza. Several schools, including Columbia University, have canceled school-wide commencement ceremonies, citing security concerns. And several schools have called in the police to disperse pro-Palestinian protest camps, a move that one expert on dissent told Business Insider would ultimately backfire.
Students at Duke University walked out during a commencement speech by comedian Jerry Seinfeld last weekend. Seinfeld has become a vocal supporter of Israel. Some students held Palestinian flags as they left the ceremony.
A representative for Duke University told BI that "we respect the right of everyone at Duke to express their views peacefully, without preventing graduates and their families from celebrating their achievement."
