Author: therawinformant

The Aristocrat Leisure Limited (ASX: ALL) share price has outperformed the struggling S&P/ASX 200 Index (ASX: XJO) to round out September 7.12% higher (at the time of writing). With an anticipated restart of poker machine venues in Australia and strong digital growth, could the Aristocrat share price be an ASX 200 growth share to add to your growth portfolio? 

FY20 performance 

Aristocrat’s strong digital performance in FY20 more than offset the COVID-19 related impacts across its land-based business. The company’s revenue increased 7% to $2.3 billion while net profit after tax fell 14.2% to $305.9 million. 

Aristocrat’s land-based electronic gaming machines performed in line with expectations through to mid-March, when all markets were adversely impacted by COVID-19 related customer venue shutdowns. The North American segment saw an increase in installed machines whilst maintaining an underlying fee per day charged against casinos. A phased approach to restarting its land-based operations is expected to occur on a location-by-location basis. The gradual reopening of these venues should see a progressive improvement in Aristocrat’s land-based earnings. 

The company’s digital segment revenues and bookings increased 19% driven by the introduction of new games. Meanwhile, the established franchises continued to perform well through the introduction of new content and features. The continued growth in its digital games could position the Aristocrat share price as a strong ASX 200 growth share moving forward amidst COVID-19. 

Resurgence in pokies

An article published by ABC last week highlights that Victorian gamblers have saved more than $1.3 billion in poker machine losses since the lockdown measures took place. However, there are concerns that people will binge on pokies when venues reopen. New South Wales reported an 8% increase in losses when venues reopened, while Queensland reported a 32% increase. 

Continued growth in iGaming and apps 

Aristocrat’s digital portfolio has been a key driver of its growth. The company noted a discernible uplift in the portfolio’s performance connected with COVID-19 stay-at-home orders, with April bookings increasing 20% against March. 

JPMorgan also remains confident that Aristocrat will enter the iGaming market in the United States. iGaming is defined as slot and table games using real-money stakes that are played online. The iGaming model is currently legal in six US states and could represent US$900 million in gross gaming revenue in just New Jersey alone. JPMorgan recently upgraded the Aristocrat share price to overweight and increased its price target to $38.60 from $28.50. 

Foolish takeaway

Aristocrat could see a recovery in its land-based business combined with the continued outperformance of its digital business. I believe the key catalyst for Aristocrat’s next leg up is its potential entry into the iGaming market in the US. This is a significant growth opportunity that could position the Aristocrat share price as a leading ASX 200 growth share. I believe investors should watch Aristocrat closely for any intentions to step into this space. 

More reading

• Top brokers name 3 ASX shares to buy next week
• 4 ASX shares rated as strong buys by brokers
• ASX shares to buy for post COVID-19 profits
• Why I would buy these ASX growth shares right now
• 5 quality ASX shares to buy in September

Motley Fool contributor Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a sizeable decline. At the time of writing the benchmark index is down 0.8% to 5,903.3 points.

Four shares that have not let that hold them back are listed below. Here’s why they are charging higher:

The Corporate Travel Management Ltd (ASX: CTD) share price has stormed a massive 11% higher to $17.94. This morning the corporate travel company’s shares returned to trade following the completion of the institutional component of its entitlement offer. These funds will be used to acquire Travel & Transport for $274.5 million. Management is forecasting the acquisition to be approximately 30% earnings per share accretive post-synergies.

The Electro Optic Systems Hldg Ltd (ASX: EOS) share price is up 1.5% to $5.64. Investors have been buying the defence and aerospace company’s shares after it announced that it has concluded contract negotiations with the government. These negotiations have resulted in the government purchasing 251 Remote Weapon Stations and related materiel for a total of $94 million.

The Evolution Mining Ltd (ASX: EVN) share price is up 1% to $5.85. Investors have been buying Evolution and other gold miners on Wednesday after a rise in the spot gold price overnight. The precious metal was given a boost from the softening U.S. dollar. At the time of writing, the S&P/ASX All Ordinaries Gold index is up a decent 0.5%.

The Recce Pharmaceuticals Ltd (ASX: RCE) share price has jumped almost 9% to $1.20. This morning the pharmaceutical company revealed that it has entered into an agreement with the Murdoch Children’s Research Institute to conduct pre-clinical studies. These studies will assess the potential of RECCE 435 (R435) for the treatment of Helicobacter pylori (H. pylori) infections. Management notes that there is a global unmet medical need for the treatment of H. pylori with no first-line therapy curative in all patients.

More reading

• ASX 200 down 1.1%: Corp Travel Management surges higher, gold miners rise, Santos given approval
• Electro Optic Systems (ASX:EOS) share price surges higher on $94 million government contract
• Why you need to watch the Corporate Travel (ASX:CTD) share price today
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 ends the day flat, BOQ (ASX:BOQ) shares drop on impairments

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The best performing fund managers took two specific actions in February and March of this year. Towards the end of February, if they were paying attention, they were selling down low liquidity small cap ASX shares. After the COVID-19 market rout on 23 March, they started to pounce on mispricing opportunities.  Here are 5 great ASX shares that major fund managers have made a lot of money on this year.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

This company is held by listed companies (LIC) WAM Capital Limited (ASX: WAM), and Australian Foundation Investment Co.Ltd (ASX: AFI). Fisher and Paykel is up by 46.21% in year to date trading. This ASX share saw revenues increase dramatically due to the ventilator demand from March to combat the coronavirus.  Currently, the company is building additional manufacturing capabilities to continue to support COVID-19 requirements. 

Temple & Webster Group Ltd (ASX: TPW)

Held by WAM Capital, this company has seen its share price rise by 356.44% in year to date trading. Temple & Webster has benefited greatly by the rapid move to online shopping as everyone went into lockdown. Moreover, consumers have redirected disposable income to home spending. Consequently, I think this ASX share remains a good opportunity for the foreseeable future as people continue to shop online.

Brickworks Limited (ASX: BKW)

ASX share Brickworks is held by the LICs WAM Capital and Milton Corporation Limited (ASX: MLT). Despite fierce pressure on revenue in the United States and Australia, this company has managed to increase its share price by 5.2% in year to date trading. At this price it also pays a trailing 12-month dividend yield of 3.03%. Moreover, I think that Australia’s leading brick maker is likely to benefit from reducing the constraints imposed by responsible lending laws over the remainder of FY21. 

Eagers Automotive Ltd (ASX: APE)

The same two LICs also have sizable investments in Eagers Automotive, the car sales company. Despite the lockdown, the ASX share price for this company is down by more than 6% in year to date trading. However, it has raised from the market low point, on 23 March, by 204.26%. This shows the strength of looking for mispricing opportunities in the market. Every time the market rises or falls in unison, there are opportunities to make profits. Moreover, Eagers is also likely to benefit from any loosening of responsible lending laws.

Bapcor Ltd (ASX: BAP)

In keeping with the automotive theme, Bapcor has also seen its share price rise by 7.37% in year to date trading despite the pandemic lockdown. Held by WAM Capital, Bapcor has already started to see revenues rise as people become more mobile. Bapcor is likely to see further gains as borders open more and people start spending more time on national holidays. I think this ASX share is set to see additional growth over the next few months. At a current price to earnings (P/E) ratio of 25.51, I believe it is well-priced for future growth.

More reading

• 3 ASX 200 passive investing shares to buy today
• These are the ASX blue chip shares I’d buy today
• Is the WAM Capital (ASX:WAM) 10% dividend yield sustainable?
• 3 ASX shares making all-time highs today
• 2 outstanding ASX shares to add to your retirement portfolio

Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor and Brickworks. The Motley Fool Australia has recommended Temple & Webster Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and is dropping lower. At the time of writing, the benchmark index is down a disappointing 1.1% to 5,884.9 points.

Here’s what has been happening on the market today:

Corporate Travel Management charges higher.

The Corporate Travel Management Ltd (ASX: CTD) share price has returned from its trading halt and is charging higher. This morning the corporate travel company completed the institutional component of its entitlement offer. These funds will be used to acquire Travel & Transport for $274.5 million. Management is forecasting the acquisition to be approximately 30% earnings per share accretive post-synergies.

Gold miners push higher

One area of the market which is performing positively today is the gold sector. The likes of Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) have all pushed higher after another rise in the spot gold price. This was driven by the further softening of the U.S. dollar and stimulus optimism. The S&P/ASX All Ordinaries Gold index is up 0.4% at the time of writing.

Santos given approval.

The Santos Ltd (ASX: STO) share price is dropping lower today despite news of a positive development. This morning the New South Wales Independent Planning Commission gave the green light to the Narrabri Gas Project with conditions. Santos has accepted the conditions proposed and will now work with the Federal Department of Agriculture, Water and Environment as it considers its recommendation to the Minister on EPBC Act approval.

Best and worst ASX 200 shares.

The best performer on the ASX 200 on Wednesday has been the Corporate Travel Management share price with an 11% gain following the completion of its institutional placement. The worst performer has been the Pendal Group Ltd (ASX: PDL) share price with a decline of over 5%. This may be due to concerns over a sharp rise in COVID cases in the UK.

More reading

• Why Corp Travel Management, EOS, Evolution, & Recce shares are charging higher
• Santos (ASX:STO) share price on watch after Narrabri Gas Project approval
• Why the Jumbo (ASX:JIN) share price is moving higher today
• Why the Afterpay (ASX:APT) share price has further to run
• 3 ASX 200 passive investing shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Santos Ltd (ASX: STO) share price is in a trading halt after gaining a key approval for a major gas project.

What’s the latest update?

The New South Wales Independent Planning Commission (IPC) has given Santos the green light for its controversial Narrabri Gas Project.

While activists have indicated further appeals may be on the way, Santos said it “accepts the conditions proposed by the IPC”.

The Aussie energy group will now work with the Federal Government to gain Environmental Protection and Biodiversity Conservation (EPBC) Act approval.

Santos estimates the project has the potential to meet up to half of NSW’s natural gas demand.

The approval is good news for the Santos share price which remains in a trading halt following the news.

Where is the Santos share price headed?

The Aussie energy share is one to watch when it returns to the boards given the good news of the approval but bad news for oil prices.

ASX oil stocks have been smashed this morning as oil prices continue to plummet. Increasing coronavirus cases in Europe and around the globe have prompted fears of further shutdowns.

That’s bad news for industries like manufacturing and travel, which are traditionally high energy consumers.

The Woodside Petroleum Limited (ASX: WPL) share price has fallen 2.5% lower this morning while Oil Search Limited (ASX: OSH) shares are down 2.3%. That means the Santos share price could be tracking them lower when it returns to the boards this week.

The Narrabri approval does represent a big stride forward for Santos. The company is now well-positioned to take a significant stake in the NSW gas market.

Foolish takeaway

The Santos share price will be one to watch when it recommences trading on the ASX.

Investors will be weighing up the importance of the Narrabri Gas Project approval against the broader weakness in ASX oil shares.

More reading

• ASX 200 down 1.1%: Corp Travel Management surges higher, gold miners rise, Santos given approval
• Why a2 Milk, BrainChip, Oil Search, & Starpharma shares are dropping lower
• Why the Jumbo (ASX:JIN) share price is moving higher today
• Why the Afterpay (ASX:APT) share price has further to run
• 3 ASX 200 passive investing shares to buy today

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) has come under pressure on Wednesday and is on course to record a sizeable decline. The benchmark index is down 1.15% to 5,883.1 points in late morning trade.

Four shares that have fallen more than most today are listed below. Here’s why they are dropping lower:

The A2 Milk Company Ltd (ASX: A2M) share price has dropped lower again and is down 2% to $14.28. Investors have been selling the infant formula and fresh milk company’s shares since its disappointing update earlier this week. One broker that wasn’t impressed is Citi. It has retained its sell rating and cut its price target to $14.20 amid concerns that daigou weakness could persist for longer.

The BrainChip Holdings Ltd (ASX: BRN) share price is down 8% to 34 cents. This latest decline means the artificial intelligence technology company’s shares are now down 65% over the last three weeks. Investors appear to now recognise that BrainChip’s shares were vastly overvalued after an incredible share price gain in 2020. At one stage BrainChip’s market capitalisation was well over $1 billion.

The Oil Search Limited (ASX: OSH) share price has fallen 3% to $2.71. Investors have been selling this energy producer’s shares after oil prices sank lower overnight. The catalyst for the pullback in oil prices was concerns over rising coronavirus cases and the impact this could have on demand.  

The Starpharma Holdings Limited (ASX: SPL) share price has fallen 6.5% to $1.50. This morning the dendrimer products developer’s shares returned from a trading halt after successfully completing a $45 million institutional placement. These funds were raised at $1.50 per new share and will be used primarily to support the development of a COVID-19 nasal spray. The remainder will be used to support the development of multiple, high-value DEP clinical assets, and DEP pipeline expansion.

More reading

• Santos (ASX:STO) share price on watch after Narrabri Gas Project approval
• Could the Bubs (ASX:BUB) share price be an A2 Milk (ASX:A2M) contender? 
• The BrainChip (ASX:BRN) share price is down 65% in just three weeks
• Why ASX oil stock prices are set to slide this morning
• These are the ASX blue chip shares I’d buy today

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Starpharma Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The A2 Milk Company Ltd (ASX: A2M) share price slumped 10% on Monday following an earnings downgrade. Could this be an opportunity for investors to jump on board the Bubs Australia Ltd (ASX: BUB) share price? 

Bubs share price performance 

Even after this week’s selloff, the a2 Milk share price is a little higher than breakeven for the year. By comparison, the Bubs share price is down nearly 23% in 2020. Bubs is likely weighed down by its $40 million capital raising that took place earlier this month. The capital raising offered a placement of up to $28.3 million at 80 cents per share and share purchase plan of up to $10 million at the same price. The significant discount combined with the broader market sell off is likely to have pushed the Bubs share price lower in September. 

FY20 performance 

Bubs delivered a fair FY20 performance with a 24% increase in revenue to $54.6 million and a normalised earnings before interest, tax, depreciation and amortisation (EBITDA) loss of $9.1 million. The company’s growth was fuelled by strong infant formula growth with sales up 58%. The contribution share of infant formula earnings now represents 55% of the company’s earnings, up from 30% two years ago. 

Moving forward, China remains a key focus as the company’s primary export market with the highest growth potential for goat’s milk infant formula. Furthermore, it plans to diversify its China dependency risk with new market launches including Vietnam and Hong Kong in FY20 and Malaysia and the Middle East in Q2 FY21. 

Key risks 

The Bubs FY20 results highlighted similar challenges that a2 Milk faced with regards to pantry stocking. Its report cited that significant pantry stocking “brought forward demand” with “Australian domestic consumption from local consumers now returning to pre-COVID levels”. In light of such concerns, it did mention that increasing demand was evident in China and that cross border e-commerce (CBEC) China sales were growing. 

It further highlighted the barriers to entry for businesses in China, especially for infant formula. Tightening regulations and long lead times for regulatory approvals all impose risks for Bubs’ success in China. Furthermore, consumers increasingly want to see a brand’s local relevance, increasing the need for Bubs to invest in marketing and sponsorship in China. 

Foolish takeaway

Following its capital raising, I believe Bubs is in a solid position to capitalise on its growth initiatives and kickstart China-related operations. However, the business faces similar challenges as a2 Milk with regards to pantry destocking and additional risks with doing business in China. I believe the Bubs share price has underperformed a2 Milk for a reason. Being a smaller business with a niche product, it could face greater earnings risks and regulatory set backs. As such, more time might be needed for the Bubs share price to find a bottom before considering it as a buying opportunity.   

More reading

• These are the ASX blue chip shares I’d buy today
• ASX 200 ends the day flat, BOQ (ASX:BOQ) shares drop on impairments
• 3 small cap ASX shares I’d buy with $3,000 right now
• Leading brokers name 3 ASX shares to sell today
• The latest 3 ASX stocks that brokers just upgraded to “buy”

Motley Fool contributor Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BUBS AUST FPO. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The volume of approved home loans in July had jumped back to pre-COVID-19 levels, in a major boost for banks.

In a trend counter-intuitive to the recession, Finder analysis of ABS data showed 28,322 mortgages were approved in July. 

As a comparison, 26,687 mortgages got the green light in March, before the pandemic really started to strangle the economy.

The numbers are encouraging for the fortunes of ASX-listed banks like Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd (ASX: NAB) and Australia and New Zealand Banking GrpLtd (ASX: ANZ).

Month	Total value	Number of loan approvals
January 2020	$12.1 billion	24,109
February	$11 billion	23,090
March	$13.2 billion	26,687
April	$12.1 billion	23,638
May	$11.5 billion	22,941
June	$12.5 billion	25,713
July	$13.7 billion	28,322
Source: Finder analysis of ABS data, table created by author

The mortgage industry also got a huge boost this week when the government turned off responsible lending rules to inject more credit into the economy.

The revival shows this recession is indeed very different to the usual downturn.

Despite high unemployment, government support has meant Australians on average have more income. And this money has been saved, rather than spent.

“There are hundreds of Aussies with a deposit saved, watching properties and the housing market and ready to strike,” said Finder insights manager Graham Cooke.

“The full economic impact of COVID-19 has yet to be realised, but Aussies are unshakable in their love of housing.”

Australians say now is a good time to buy 

It’s not just investors and veterans getting in. More than 11,000 first home buyers entered the market in July, which is 20% up from May.

Finder’s consumer sentiment index also showed 59% of Australians think now is an ideal time to buy real estate. This is way up on 54% in February and 52% in March.

“Judging by the surge in activity, plenty of Aussies are fired up about property again,” Cooke said.

“The housing market is also benefiting from the pent-up demand released with the restarting of auctions and inspections in several places.”

Lending to owner-occupiers would grow even further when states relax border restrictions, according to Cooke.

“Think of all the interstate relocations that normally happen before a new school year starts that have been stifled.”

More reading

• Is the Westpac (ASX:WBC) share price in the buy zone?
• Where to invest your CBA dividends
• The ASX big bank stock that’s most at risk of a dividend cut
• BrainChip (ASX:BRN) and Novonix (NVX) were among the most traded shares on the ASX last week
• 3 ASX dividend shares to buy for income today

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Jumbo Interactive Ltd (ASX: JIN) share price is higher today following an announcement last night.

The Jumbo share price surged to $13.09, up 3.23% in morning trade before dropping back to $12.83 at the time of writing. In comparison, the S&P/ASX 200 Index (ASX: XJO) is down 1.4% to 5,867 points.

New agreement

Jumbo subsidiary, TMS Global Services signed a binding term sheet with Lotterywest, a Western Australia state government-owned lottery operator. The deal will see Jumbo provide its online software platform and services to Lotterywest for up to the next 10 years.

The ‘Powered by Jumbo’ software platform will be integrated with the Lotterywest ‘White Labelled’ program and branding. This will allow current Jumbo Western Australia members to continue playing online on a platform they are accustomed to. The total transaction value (TTV) for FY20 was $33 million.

The key terms for the binding term sheet stipulate that Jumbo will receive a service fee for every customer transaction through the White Label platform. The service fee will cover Jumbo’s software operation, technical and customer support, and development services and costs.

The agreement is to be a three-year initial term, with the option for a further three and four years. The extension options are to be decided by Lotterywest.

In addition, Lotterywest will oversee the marketing strategy for players, which Jumbo will manage customer support on the White Label platform.

The binding term sheet is pending legislative amendments, regulatory approvals, and performance and financial guarantees by Jumbo.

Both companies are expected to complete the software integration by 21 December 2020.

Jumbo share price summary

The online lottery company reached new peaks in 2019, as it set ambitious targets of $1 billion in ticket sales by 2022. As TTV hit $320 million from its FY19 report, investors appeared not confident of Jumbo achieving the milestone. Thus, the Jumbo share price was heavily sold from September 2019, falling more than 50% to today’s price.

In March, Jumbo was impacted with its share price tumbling to as low as $6.99, but has now returned to pre-COVID-19 levels.

I think that if Jumbo picks up momentum in ticket sales and delivers on its targets, then its share price will follow.

More reading

• Why the Afterpay (ASX:APT) share price has further to run
• 3 ASX 200 passive investing shares to buy today
• Why ASX oil stock prices are set to slide this morning
• Is the Westpac (ASX:WBC) share price in the buy zone?
• Will the Fortescue (ASX:FMG) share price outperform in 2021?

Aaron Teboneras owns shares of Jumbo Interactive Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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