Author: openjargon

ASX Ltd (ASX: ASX) shares are pushing higher on Thursday after the market operator named its next boss.

At the time of writing, the ASX share price is up 2.28% to $58.65. By comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.08% on the back of market jitters.

The move adds to a stronger year for shareholders. ASX shares are now up 13% in 2026, although they remain down 19% over the past 12 months.

Here’s what has investors paying attention today.

A new boss is coming

In its ASX announcement, ASX said Anthony Attia has been appointed Managing Director and Chief Executive Officer.

He is expected to start on 1 September 2026, subject to the relevant authorisations to work in Australia.

Attia brings nearly 30 years of experience across exchanges and market infrastructure businesses in Europe and the United States.

Most recently, he was global head of derivatives and post trade at Euronext.

Before that, he held senior roles at Intercontinental Exchange and NYSE Euronext.

ASX has been dealing with a difficult period of late, including heavy technology spending and regulatory scrutiny.

A new CEO with deep exchange experience should give investors something positive to focus on.

Pay details

The appointment also comes with a sizeable pay package.

According to the release, Attia will receive fixed remuneration of $2 million a year, along with a short-term variable reward target of $1.7 million.

ASX also plans to seek shareholder approval for a long-term variable award with a face value of $2 million.

On top of this, Attia is entitled to restricted shares worth up to $6.3 million.

The company said the restricted shares recognise incentives he will give up by leaving his current role.

There will also be a short handover period before Attia takes over the helm. Current ASX CEO Helen Lofthouse will leave on 29 May 2026, while Darren Yip, group executive markets and listings, has been appointed interim CEO to support the transition.

Foolish Takeaway

Investors appear to be welcoming the appointment, with ASX finally giving the market a clearer leadership path.

Attia brings plenty of exchange experience, which should help. But investors will still want to see progress on the bigger issues facing the business.

That means keeping costs under control, improving its technology delivery, and rebuilding confidence with investors, customers, and regulators.

From here, the market will be watching whether the new boss can put ASX back on steadier ground.

The post ASX shares rise as investors welcome a major leadership change appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Intercontinental Exchange. 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.

ASX tech stock Megaport Ltd (ASX: MP1) is blasting higher on Thursday.

During afternoon trade, the Megaport share price is surging 35% to $13.31 after the company unveiled a massive trio of contract wins tied to the booming artificial intelligence (AI) sector.

The rally continues an extraordinary run for investors. The $2 billion ASX tech stock is now up 88% over the past month and 7% over the past 12 months, outperforming the benchmark S&P/ASX 200 Index (ASX: XJO), which has climbed roughly 4% over the same period.

So, what just sent Megaport shares into overdrive?

Major contracts, recurring revenue

Megaport revealed it has secured three major customer contracts worth a combined US$182.9 million, or approximately A$254 million in total contract value.

Even more importantly, the ASX tech stock expects the deals to generate around US$65.2 million (A$90.6 million) in annual recurring revenue (ARR).

That instantly grabbed investor attention. Recurring revenue is highly prized in the tech sector because it creates predictable cash flow and stronger long-term earnings visibility. In Megaport’s case, the business managed to lock in the contracts for fixed periods. Two of them are running for 36 months, and another is spanning 24 months.

The company also highlighted that the revenue is contracted regardless of actual customer usage, further strengthening the reliability of future earnings.

AI appeal

Investors appear especially excited because the contracts are tied directly to AI infrastructure demand.

Megaport said the agreements are with two US-based technology providers powering AI applications. One of the customers is already an existing client, suggesting the company is successfully upselling larger services across its global platform. That could be a very bullish sign for future growth opportunities.

To support the contracts, Megaport plans to invest heavily in high-performance hardware, including Nvidia Corp (NASDAQ: NVDA) GPUs, networking equipment, compute infrastructure, and storage. The ASX tech stock expects to spend roughly US$101 million (A$140.3 million) in capital expenditure to deliver the projects.

Backed by existing cash reserves

Importantly, management of the ASX tech stock said existing cash reserves alongside a newly upsized AUD$150 million debt facility will fund the investment. That eased concerns about the need for a potentially dilutive capital raising.

Megaport also noted the hardware won’t simply become obsolete when the contracts expire. Instead, the company expects to redeploy the infrastructure into the company’s Latitude.sh platform. This potentially will generate additional long-term revenue streams beyond the initial customer agreements.

Deployment of the equipment is scheduled to begin during the first half of FY27.

What else should investors know?

Despite the blockbuster announcement, the ASX tech stock reaffirmed its FY26 revenue and EBITDA guidance for the expanded group. This is excluding the impact of the new contracts.

However, the company warned that the additional investment could lift FY26 capital expenditure by as much as A$140.3 million. It said that this will depend on equipment delivery timing.

Management plans to provide more details on the financial impact and broader outlook at its full-year results in August 2026.

For now, though, investors appear focused on one thing: Megaport has just landed major AI-linked contracts with locked-in recurring revenue. And the market clearly likes what it sees.

The post Why is this ASX tech stock rocketing 35% today? appeared first on The Motley Fool Australia.

More reading

• Why Codan, Medallion, Megaport, and Mineral 260 shares are storming higher today
• Why Graincorp, Air New Zealand and Megaport shares are turning heads on Thursday
• Why Megaport shares and Xero shares are making big moves on Thursday
• Megaport secures $254 million in contracts, boosts ARR and outlook
• After a 50% surge, could this ASX tech stock still double?

Motley Fool contributor Marc Van Dinther 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 Megaport and Nvidia. The Motley Fool Australia has recommended Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Thursday. In afternoon trade, the benchmark index is down 0.1% to 8,621.3 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Codan Ltd (ASX: CDA)

The Codan share price is up 3% to $39.67. This has been driven by a bullish broker note out of Macquarie this morning. According to the note, the broker has upgraded the technology company’s shares to an outperform rating with a $44.20 price target. The broker is feeling bullish on the company’s exposure to the booming UAV market.

Medallion Metals Ltd (ASX: MM8)

The Medallion Metals share price is up 4.5% to 45.5 cents. This morning, the gold developer released positive drilling results from the Kundip Mining Centre, which is part of its Ravensthorpe Gold Project in Western Australia. Management revealed that drilling has returned multiple high-grade results at Kundip. Commenting on the results, Medallion’s managing director, Paul Bennett, said: “As expected, drilling at Kundip continues to yield some impressive grades over mineable widths. This drilling is targeting the early stages of the mine plan at both Gem and Harbour View, where the intention is to establish production horizons on both lodes within what we believe are the best parts of the deposits.”

Megaport Ltd (ASX: MP1)

The Megaport share price is up 35% to $13.27. Investors have been scrambling to buy the network solutions company’s shares after it announced another major contract win for its Latitude.sh business. It has secured three major GPU, CPU, network, and storage contracts across two customers with a combined total contract value (TCV) of approximately US$182.9 million (A$254 million). Megaport’s CEO, Michael Reid, said: “We are at the forefront of an accelerating inflection point across the industry. As use cases shift from AI foundation models to inference and the edge, Megaport is becoming an essential platform for powering the applications of tomorrow with globally distributed, automated infrastructure.”

Minerals 260 Ltd (ASX: MI6)

The Minerals 260 share price is up 4% to 88.5 cents. This morning, this gold miner announced binding agreements with Geko Explore to secure joint venture interests across approximately 350km2 of highly prospective tenure. These are contiguous with its 4.5Moz Bullabulling Gold Project in Western Australia. Minerals 260’s managing director, Luke McFadyen, said: “The joint ventures with Geko Explore represent another significant step in realising the growth and value potential of the Bullabulling Gold Project. The transaction consolidates the most prospective exploration tenements surrounding Bullabulling not already owned by Minerals 260 and unlocks a new pipeline of compelling exploration targets.”

The post Why Codan, Medallion, Megaport, and Mineral 260 shares are storming higher today appeared first on The Motley Fool Australia.

More reading

• Why is this ASX tech stock rocketing 35% today?
• Why Graincorp, Air New Zealand and Megaport shares are turning heads on Thursday
• Why Megaport shares and Xero shares are making big moves on Thursday
• Megaport secures $254 million in contracts, boosts ARR and outlook
• After a 50% surge, could this ASX tech stock still double?

Motley Fool contributor James Mickleboro has positions in Megaport. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Megaport. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Air New Zealand Ltd (ASX: AIZ), Graincorp Ltd (ASX: GNC) and Megaport Ltd (ASX: MP1) shares are grabbing financial headlines today.

Two of the ASX heavyweights are trailing the 0.2% losses posted by the S&P/ASX 200 Index (ASX: XJO) during the Thursday lunch hour, while one is rocketing higher.

Here’s what’s capturing investor interest.

Megaport shares rocket on big contract wins

Megaport shares are on fire today.

Shares in the ASX 200 tech stock are up a whopping 33.8% today, changing hands for $13.18 apiece. That sees the share price up 96.4% since the stock plumbed one-year closing lows on 10 April.

The company is making waves after announcing this morning that it had secured three new contracts with two United States based technology providers involved in AI applications. The total contract value (TCV) was reported to be $254 million.

Two of the fixed-term contracts run for three years, while one runs for two years.

The company said this will required around $140 million in new capital investment.

Commenting on the contract wins sending Megaport shares flying today, CEO Michael Reid said:

We are at the forefront of an accelerating inflection point across the industry. As use cases shift from AI foundation models to inference and the edge, Megaport is becoming an essential platform for powering the applications of tomorrow with globally distributed, automated infrastructure.

Air New Zealand shares sink on surging fuel costs

Air New Zealand is also turning heads today after the ASX airline stock reported on the significant impact of surging jet fuel prices following the outbreak of the Iran war.

In news also likely to alarm Qantas Airways Ltd (ASX: QAN) shareholders, Air New Zealand revealed that jet fuel prices have surged from around US$85 to US$90 per barrel before the conflict to trade in the range of US$160 and US$230 per barrel in the last 10 weeks.

As such management now expects the airline to post a full year FY 2026 loss before tax between $340 million to $390 million.

Air New Zealand shares are down 4.2% at time of writing, trading for 42 cents each.

Which brings us to…

 Graincorp shares plunge on profit decline

Joining Air New Zealand and Megaport shares in the headlines today, investors are tuning into Graincorp following the ASX 200 agribusiness and processing company’s half year results (H1 FY 2026).

Graincorp shares are down a sharp 13.2% at time of writing, trading for $5.40 apiece.

Investors are reaching for their sell buttons after the company reported 32.7% year-on-year decline in underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) to $136 million.

On the bottom line, underlying net profit after tax (NPAT) of $33 million was down 52.2% from H1 FY 2025.

Looking ahead, the ASX 200 stock reaffirmed full year FY 2026 underlying EBITDA guidance in the range of $200 million to $240 million.

Management expect to achieve underlying NPAT in the range of $20 million to $50 million.

The post Why Graincorp, Air New Zealand and Megaport shares are turning heads on Thursday appeared first on The Motley Fool Australia.

More reading

• Air New Zealand shares sink as investors brace for a major loss
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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 positions in and has recommended Megaport. 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.

Commonwealth Bank of Australia (ASX: CBA) shares are trading in the green on Thursday lunchtime. 

At the time of writing, the major bank’s shares are up 0.75% to $154.82 a piece.

The rise is welcome news for investors, but there is a long way for the shares to go before they’ve recovered to levels seen just a week ago.

CBA shares spiked to $179.23 on Thursday last week before tumbling around 2%. The sell-off accelerated this week. By the close of the ASX on Tuesday, the shares had shed another 2.5%. Yesterday, the shares crashed by over 10%.

CBA shares have now fallen 16% over the past month, are down 4% year to date, and are over 7% lower than this time last year.

Now many are asking: Is the latest fall from grace an opportunity for buyers to get into the bank stock for cheap? Or is this the correction analysts have anticipated for some time now?

What caused this week’s sell-off?

The banking giant posted its third-quarter capital update ahead of the market open on Wednesday morning.

For the three months ended 31st March, the bank reported that its operating income was flat, with higher net interest income offset by lower other operating income.

The bank posted an unaudited cash NPAT of $2.7 billion, which is 1% lower than the quarterly average for the first half of FY26.

Elsewhere, its net interest income rose 1% due to lending and deposit volume growth and higher deposit margins. But this was partially offset by lending competition, a shorter quarter, and a lower New Zealand dollar.

The bank also announced that its loan impairment expense was $316 million for the quarter, and that it has raised the forward-looking component of collective provisions by $200 million to account for greater geopolitical and economic risks.

It looks like investors were spooked by the results. Many flocked to sell up their shares and take the latest gains off the table.

Have CBA shares now bottomed?

It’s been the consensus for some time that CBA’s shares are significantly overvalued relative to its peers. Analysts have also previously commented that the bank’s bumper price tag isn’t supported by its business fundamentals. 

Today’s data on Market Index shows that even after this week’s crash, brokers still have a strong sell rating on the stock. 

The brokers tip a potential downside of another 20% to an average 12-month target price of $123.90 at the time of writing. This is a decline from the average 12-month target price of $129.82 that brokers had on the stock last week. 

TradingView data shows some analysts are even more pessimistic about the trajectory for CBA shares over the next 12 months. Out of 16 analysts, 14 have a sell or strong sell rating on the stock. Some think the shares could crash another 42% to as little as $90 each over the next 12 months.

If analyst predictions are anything to go by, it looks like CBA’s share price could crash again. 

The post Are CBA shares a buy after the latest sell-off? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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.

Air New Zealand Ltd (ASX: AIZ) shares are falling on Thursday after the airline handed investors a disappointing update.

At the time of writing, the Air New Zealand share price is down 4.23% to 34 cents.

The latest fall adds more pain to a weak year for shareholders. The stock is now down 33% in 2026 and 39% over the past 12 months.

Here’s why investors are selling today.

Fuel costs smash the outlook

In its market update, Air New Zealand said elevated and volatile jet fuel prices have had a significant impact on its FY26 outlook.

The airline now expects a loss before tax of NZ$340 million to NZ$390 million for FY26.

In FY25, Air New Zealand reported pre-tax profit of NZ$216 million, so the downgrade points to a major earnings swing.

A big part of the problem is jet fuel, which has become far more expensive in recent weeks.

Air New Zealand said jet fuel prices were around US$85 to US$90 per barrel before the recent Middle East conflict. Since then, prices have traded between roughly US$160 and US$230 per barrel.

The company said it expects its second-half fuel cost to be about NZ$980 million, compared with around NZ$740 million assumed at the interim result.

Including hedging, the higher fuel bill has added a NZ$240 million headwind to the expected FY26 result.

Demand has also cooled

Fuel is not the only problem weighing on the outlook.

Air New Zealand said booking momentum has moderated in recent weeks, after initially tracking ahead of FY25.

The weakness is showing up in several parts of the network. Domestic and Trans-Tasman demand have softened, while outbound demand to some long-haul markets has also weakened.

North America outbound demand has been more mixed, while Asia inbound and cargo have held up better.

The airline has responded by making 3 targeted capacity cuts. Overall group capacity has now been reduced by around 3% to 5% across its networks.

Air New Zealand has also lifted fares to help recover some of the higher fuel costs. But the company said trying to recover the full impact over a short period could put more pressure on demand.

Balance sheet still gives some support

There were still a few points of support in the update.

Air New Zealand said it still has around NZ$1.3 billion in total available liquidity. This includes an undrawn NZ$250 million syndicated standby facility.

The airline is also finalising a US$400 million secured revolving credit facility, backed by part of its unencumbered aircraft pool.

Once completed, the company said the facility would lift pro-forma liquidity by about NZ$670 million.

Management also said it is not currently considering any capital transactions, which may give investors some comfort after the earnings downgrade.

Cost savings are also being targeted. Air New Zealand has identified up to NZ$100 million of annualised savings so far, with benefits expected through FY27 and beyond.

The post Air New Zealand shares sink as investors brace for a major loss appeared first on The Motley Fool Australia.

More reading

• Why Graincorp, Air New Zealand and Megaport shares are turning heads on Thursday
• Air New Zealand flags sharp FY26 loss as rising fuel costs bite
• Air NZ warns of ‘fuel shock’, what this means for Qantas shares

Motley Fool contributor Aaron Teboneras 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.

Artrya (ASX: AYA) shares could be worth considering if you are searching for exposure to artificial intelligence (AI).

That’s the view of analysts at Bell Potter, who are bullish on the ASX AI stock.

What is the broker saying about this ASX AI stock?

Firstly, in case you are not familiar with Artrya, it is a medical technology company using AI-powered image-analysis software to improve the detection and management of coronary artery disease (CAD).

Bell Potter notes that CAD is driven by soft plaque that builds up silently in the arteries and ruptures without warning, causing a fatal heart attack. Traditional cardiac diagnostics often fail to detect this hidden risk, and in over 50% of the population, the first sign of the disease is sudden death.

This condition affects around 126 million people globally each year, causing around 9 million deaths, with the vast majority of patients experiencing no warning signs.

This gives the ASX AI stock a very large market opportunity.

A recent note reveals that Bell Potter has been pleased with Artrya’s progress in 2026 and is optimistic on its outlook. It said:

Following completion of onboarding Tanner Health’s five hospitals, scanning has now commenced, with monthly scan volumes increasing through the quarter. Reimbursement and back-office processes are in the final stages of completion. Both NGHS and Cone Health are working through onboarding processes and expect to be ready for scanning patients for anatomy and plaque by the beginning of FY27.

The Blood Flow (FFRCT / SCF) module is being prepared for submission to the FDA under the 510(k) submission, with a 1H27 targeted commercial rollout. Training materials and reimbursement administration are being addressed in anticipation of the commercial rollout to foundational customers. Contracting and ethics approval submissions are in progress at all six SAPPHIRE study partners, with an initial Principal Investigator meeting schedule for July 2026.

Should you invest?

According to the note, Bell Potter has a buy rating and $6.10 price target on the ASX AI stock.

Based on its current share price of $4.87, this implies potential upside of 25% for investors over the next 12 months.

Commenting on its buy thesis, the broker said:

AYA’s first customer has now progressed to scanning patients and the other two foundational customers should be ready for the beginning of FY27. AYA is progressing as expected, and the key catalyst now is disclosure of quarterly scan volumes.

Verification of scan volumes is necessary to prove out our model assumptions and validate the investment thesis of a fundamental shift in the diagnostic method of CAD. AYA’s share price has increased c.6x since this time last year, implying a successful rollout and high degree of growth. Yet, given the nature of the value proposition, proof of commercial execution is likely to keep valuation metrics elevated.

The post Which exciting ASX AI stock is a buy according to a leading broker? appeared first on The Motley Fool Australia.

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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.

Shares in oOh!media Ltd (ASX: OML) were trading solidly higher on Thursday after the company released a positive trading update ahead of its annual general meeting.

Strong quarterly performance

Shares in the company were more than 4% higher at $1.35 apiece, after the company said in a statement to the ASX that it was expecting first-quarter revenue growth of 7% for Australia and 4% for the group, slightly ahead of projections from February.

oOh!media said its Operational Excellence program and its exit from retail media delivered a 9% headcount reduction and $12 million in annualised savings from FY27.

The company said on the downside that first-half gross margins would be softer than anticipated.

oOh!media Managing Director James Taylor said:

The Out of Home sector continues to benefit from strong structural growth, and we are executing our strategy to cement oOh!’s market leadership. The launch of MOVE is a growth catalyst, clearly demonstrating the superior quality and unmatched scale of our network to advertisers. “Since February we have identified $12 million in annualised FY26 run rate pre-tax cash savings and an array of related operational benefits. This unlocks further value for our customers and shareholders. While we note some advertiser uncertainty given the broader macro environment, we are pleased with our overall outlook and look forward to updating shareholders at this morning’s AGM.

Takeovers remain in play

The updates come following two recent takeover offers lobbed for the company by I Squared Capital for $1.45 per share, and by Pacific Equity Partners for $1.40 per share.

Chair Tony Faure told the company’s annual general meeting on Thursday that “the Board, together with our advisers, has considered and unanimously determined that they do not adequately reflect the intrinsic value of oOh!”.

He added:

However, we are prepared to engage with all parties to assess whether any proposal may emerge that is capable of being recommended by the Board. oOh! will provide parties with access to a limited amount of due diligence information to enable them to assess revised proposals that may be capable of the Board’s recommendation. We are committed to moving at pace as we evaluate the offers, with a firm focus on achieving the best outcome for shareholders.   

Mr Faure said oOh!media was also engaging with other parties regarding a potential change of control transaction.

oOh!media shares have traded as high as $1.83 over the past 12 months and as low as 84.5 cents.

The ASX media company is valued at $686.7 million.

The post This takeover target is beating forecasts, sending shares in the ASX media company higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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.

Worley Ltd (ASX: WOR) shares are climbing on Thursday after the engineering services group announced a fresh capital management update.

At the time of writing, the Worley share price is up 2.09% to $12.22.

That gives shareholders some relief after a soft run in recent times. Worley shares are still down around 3% in 2026 and 8% over the past year.

Let’s take a closer look at what was announced.

Worley returns more cash

According to the release, Worley announced a new on-market share buyback of up to $300 million.

The company said this follows the successful completion of an earlier $500 million buyback program in April.

The new buyback could cover about 5.1% of shares on issue, depending on market conditions and the share price.

Worley said the decision reflects the board’s confidence in the company’s financial position and growth outlook.

It also adds to the company’s recent capital returns, with Worley continuing to pay dividends alongside the buyback.

The stock currently pays a dividend yield of 4.09% to shareholders.

Growth targets remain in focus

Worley used its Investor Day presentation to outline its medium-term growth outlook. The company is targeting double-digit underlying EBITA growth through to FY30.

Management said the business is being supported by major investment trends across energy, chemicals, resources, and critical infrastructure.

That includes areas such as LNG, energy transition materials, power, data centres, nuclear, industrial water, and ports.

Worley also said it is investing $70 million over the next two years in digital and AI capabilities.

The aim is to lift productivity and help the company deliver larger, more complex customer projects across the asset lifecycle.

Cost savings are also ahead of plan. Worley said $95 million of initiatives have already been actioned, with another $25 million underway.

That takes the savings program above its initial $100 million target.

Guidance pressure has not gone away

Worley has not had an easy year.

The company said its expected conflict-related tension in the Middle East had delayed project timelines and hurt revenue and new work.

In April, Worley said it still expected FY26 underlying EBITA to be within its previous guidance range of $800 million to $850 million.

But it now expects to finish at the lower end of that range.

Worley’s backlog was $16.9 billion at the end of March, up 2% from December.

Foolish Takeaway

The $300 million buyback gives investors something immediate to focus on after a weak year for the share price.

But Worley still needs to prove it can turn its pipeline and cost savings into stronger earnings.

Investors will get a clearer view when the company reports its full-year results on 26 August.

The post Worley shares jump as another $300 million buyback lands appeared first on The Motley Fool Australia.

More reading

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• Buy, hold, sell: CBA, South32, and Worley shares
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Motley Fool contributor Aaron Teboneras 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 All Ordinaries Index (ASX: XAO) is down 0.2% at time of writing today, but that’s not keeping this ASX All Ords silver share from posting another day of gains.

The outperforming miner in question is Andean Silver Ltd (ASX: ASL).

Andean Silver shares closed yesterday trading for $2.44. In late morning trade on Thursday, shares are changing hands for $2.485 apiece, up 1.8%.

Taking a step back, Andean Silver shares have surged a whopping 151.9% over the past 12 months, smashing the 4.1% one-year gains delivered by the benchmark index.

Part of that strong outperformance has been driven by the surging silver price. Currently fetching US$87.56 (according to data from Bloomberg), the silver price has gained 171% since this time last year.

And Andean Silver has hardly been sitting idle.

Here’s what the miner just reported.

ASX All Ords silver share lifts on high-grade results

Andean Silver shares are marching higher today after the miner announced promising results from its Cerro Bayo Silver-Gold Project, located in Chile.

The ASX All Ords silver share said that the discovery of “bonanza-grade veins” beyond current resources is paving the way for ongoing resource growth at Cerro Bay.

Top vein chip sample results from the latest exploration activities include 5,643 grams of silver per tonne equivalent.

The miner also reported sawn channel results, which included 0.8 metres at 1,1184 grams of silver per tonne equivalent (or 13.3 grams of gold per tonne equivalent).

Promisingly, the company said that these targets are located just 200 metres from the Laguna Verde processing facility.

Andean Silver expects to deliver a Mineral Resource Estimate update for Cerro Bay in June. It noted that economic studies are underway.

What did Andean Silver management say?

Commenting on the exploration results boosting the ASX All Ords silver share today, Andean Silver CEO Matthew Allen said, “These results continue to demonstrate the scope to grow the Cerro Bayo resource, with the discovery of more high-grade silver-gold veins over extensive lengths.”

Looking ahead, Allen added:

We continue to generate a compelling pipeline of drilling targets identified by mapping, sampling and a re-evaluation of the geological data at Cerro Bayo.

There is a direct link between resource growth and the value we create for our shareholders. This is why we have four rigs drilling to increase and upgrade the existing resources. And we plan to further ramp up drilling while advancing the mine study phase.

The post Up 152% in a year, guess which ASX All Ords silver share is leaping again on ‘bonanza-grade’ results 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 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.