Category: Stock Market

A fresh record high yesterday has quickly turned into heavy selling today.

Codan Ltd (ASX: CDA) shares are sinking on Tuesday after registering one of the strongest runs on the ASX over the past year.

At the time of writing, the Codan share price is down 8.40% to $40.23.

That is a heavy fall, but it comes after a huge rally. Codan shares are still up around 41% in 2026 and almost 150% over the past 12 months.

Before today’s sell-off, the stock touched an all-time high of $44.52 on Monday.

So, what changed today?

Major shareholder sells down

The pressure follows an article in The Australian that a block of 8 million Codan shares was sold at $39 per share. That values the sell-down at about $312 million.

The report said the sale was understood to be linked to Pamela Wall, the widow of Codan co-founder Ian Wall.

The sale price was below Codan’s previous close of $43.92, which appears to be the main reason investors are reacting today.

Large block trades often happen at a discount, especially after a strong share price run. But they can still weigh on sentiment, particularly when a stock has just reached record levels.

In this case, the timing looks to be the bigger issue. Codan had been trading at all-time highs, and investors are now taking in a major sell-down from a long-term shareholder.

Why sellers were quick to move

Codan is not falling today because of a weak trading update or a downgrade. The move looks more closely tied to profit-taking after a big rally.

The company designs and sells communications equipment, metal detection products, and related technology. Its products are used across defence, public safety, mining, and recreational markets.

The business has also had strong momentum behind it. Codan has benefited from stronger defence and communications spending, while its metal detection division has been supported by a higher gold price.

Together, that has helped drive the share price much higher over the past year. It has also left the stock trading with far more expectation built in than it had 12 months ago.

Foolish Takeaway

I would not view today’s fall as a sign that the business has suddenly changed.

It looks more like the market reacting to a large discounted share sale after a very strong run.

That said, the size of the recent gain is hard to ignore. Codan has already delivered a huge move, and investors are no longer buying it at beaten-down prices.

From here, I would be watching whether buyers step back in around the $40 level. If they do, the pullback may prove short-lived.

The post Why this ASX 200 stock is being hammered after hitting record highs appeared first on The Motley Fool Australia.

More reading

• Up 175% in a year, do experts think it’s time to sell this ASX 200 tech stock?
• I’d buy BHP and these ASX 200 shares with $5,000 in May
• The five best ASX 200 stocks to buy and hold in April revealed
• Why these ASX shares jumped 15%+ in April
• Up 170% in a year: Are Codan shares a buy?

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.

Deep Yellow Ltd (ASX: DYL) shares are edging lower today, but still outperforming the benchmark index.

Shares in the S&P/ASX 200 Index (ASX: XJO) uranium stock closed yesterday trading for $1.835 cents. In afternoon trade on Tuesday, shares are changing hands for $1.830 apiece, down 0.3%.

For some context, the ASX 200 is down 0.7% at this same time.

Taking a step back, Deep Yellow shares have gained 54.8% over the past 12 months, smashing the 6.0% one-year gains posted by the ASX 200.

And looking ahead, Fairmont Equities’ Michael Gable expects the ASX 200 uranium stock is well-placed to deliver more outperformance (courtesy of The Bull).

Here’s why.

Should you buy Deep Yellow shares today?

“The uranium sector remains promising because demand should continue to outpace supply for the next few years,” said Gable, who has a buy recommendation on Deep Yellow shares.

“Although the uranium price has edged higher in the past several months, I’m expecting a much bigger move to occur soon when utilities return to contract for future supplies,” Gable noted.

On Monday, uranium futures in the United States were swapping hands for just over US$86 per pound. That’s up from US$76 per pound in December, and up from US$70 per pound this time last year.

And amid expectations of further increases in global uranium prices, Gable thinks Deep Yellow stock looks bargain priced.

“This uranium developer, based in Namibia, appears cheap at these levels and it’s highly leveraged to any increase in the underlying uranium price,” he concluded.

What’s the latest from the ASX 200 uranium stock?

Deep Yellow shares closed up 3.9% on 28 April following the release of the company’s March quarter update.

Investors responded enthusiastically to the progress Deep Yellow has been making across its major projects.

The miner reported that, as at 31 March, detailed engineering had progressed to 68% completion, with 91% of the bulk earthworks finished at its Tumas Project, located in Namibia.

Commenting on the results, Deep Yellow CEO Greg Field said:

Deep Yellow entered the March 2026 quarter with clear momentum across the business, underpinned by continued advancement of our flagship Tumas development project and a disciplined focus on creating long-term shareholder value.

As for what’s next for the strengthening uranium price that’s helped boost Deep Yellow shares, the company noted:

Positive market forces including persistent increases in anticipated new builds of both large reactors (1,000 MWe and larger) as well as Small Modular Reactor (SMR) technology, coupled with rising awareness of increasingly probable future uranium supply shortages, have served to underpin the longer-term uranium market.

Looking forward, increasing commitments for future uranium deliveries are expected to accelerate as utilities enter the long-term market to satisfy substantial uncovered uranium requirements.

The post Up 55% in a year, why Deep Yellow shares still ‘appear cheap’ appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares to buy this week: Experts
• Buy, hold, sell: Deep Yellow, IGO, and Viva Energy shares
• Is this ASX energy stock a buy, hold or sell following quarterly results?
• Here are the top 10 ASX 200 shares today
• Why is everyone talking about Whitehaven, Deep Yellow and Beach Energy shares on Tuesday?

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.

ASX 200 stock Ventia Services Group Ltd (ASX: VNT) is getting plenty of attention on Tuesday.

The infrastructure services stock is climbing again, even as the broader market sits under pressure.

At the time of writing, the Ventia share price is up 6.55% to $5.935. By comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.59% to 8,646 points.

That puts the stock up around 13% over the past week and roughly 36% over the past year.

The latest move follows a fresh contract win, and investors seem to like what landed.

New Victorian road contracts

Ventia announced today that it has been awarded road maintenance contracts by the Victorian Department of Transport and Planning.

The work covers the Grampians and Eastern Metropolitan regions under the Victorian Road Maintenance Contract model.

Ventia estimates the contracts have a combined value of about $340 million over the 4-year base term. That figure includes routine maintenance, as well as high-level estimates for planned maintenance programs and minor capital works.

Those planned works remain subject to state government budget approvals and road network priorities.

The contracts also include extension options. The Grampians contract can be extended by 2 years, while the Eastern Metropolitan contract has two separate 2-year extension options.

Contract commencement is expected from 1 July 2026.

What Ventia will do

Under the contracts, Ventia will provide road network maintenance, inspections, hazard and defect rectification, emergency response, and minor capital works.

The work will cover both rural and metropolitan arterial roads.

Managing Director and Group CEO Dean Banks said the award reflects “Ventia’s growing role as a partner of choice” for long-term road network management.

He also pointed to the company’s experience across transport operations and maintenance.

Ventia already works across essential infrastructure services, including transport, defence, social infrastructure, water, energy, telecommunications, and resources.

Momentum already in place

The latest win also lands after a strong full-year result from the company.

Ventia reported FY25 revenue of $6.1 billion, while underlying NPATA rose 13% to $257.6 million.

Work in hand reached a record $22.1 billion, up 14.4% on FY24.

That gives the company a large base of contracted work heading into the new financial year.

The company also guided to FY26 NPATA growth of 7% to 10%.

Foolish takeaway

This is a big win for Ventia. A $340 million contract package is not small, and it fits neatly with the company’s existing transport maintenance work.

The market seems to be rewarding the extra visibility this adds to future revenue, especially with the stock already having a strong week.

I would not be chasing the ASX 200 stock blindly after a move like this, but Ventia is doing what investors want to see. It is winning long-term work, building its contract base, and backing that up with earnings growth.

The post This ASX 200 stock just jumped 13% in a week. Here’s why 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 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.

Morgans has been busy running the rule over a number of updates this month.

Here’s what it is saying about these popular ASX shares after reviewing their latest numbers:

Coles Group Ltd (ASX: COL)

Morgans was a touch disappointed with this supermarket giant’s performance in the third quarter.

While pleased with its supermarkets business, it highlights that Coles’ liquor business let the company down.

In response, the broker has retained its accumulate rating on Coles shares with an improved price target of $24.60. It said:

COL’s 3Q26 sales update was slightly softer than expected, with another solid performance in Supermarkets offset by ongoing challenging conditions in Liquor. Supermarkets continues to gain market share from discounters and independents, with strong volume growth indicating the value proposition continues to resonate with customers. We reduce FY26-28F underlying EBIT by 0-1%, largely reflecting a more difficult outlook for Liquor.

Despite the minor reduction in earnings, our target price increases to $24.60 (from $22.90), reflecting a higher valuation multiple. In our view, COL’s defensive earnings profile and strong execution warrant a premium amid macro uncertainty and Middle East geopolitical risks. In addition, the core Supermarkets division should benefit from increased at-home consumption and continued demand for own-brand products as customers become more value-conscious. ACCUMULATE rating maintained.

Liontown Ltd (ASX: LTR)

The broker wasn’t impressed with this lithium miner’s performance in the third quarter. It described the quarter as weak due to lower recoveries.

And while its outlook is improving, this hasn’t been enough to stop Morgans downgrading Liontown shares to a trim rating with a $2.20 price target. Morgans explains:

Weak 3Q26 result was driven by lower recoveries, though ramp-up is progressing well and cash flow turned positive. Outlook is improving with recoveries and spodumene prices lifting. Move to a TRIM with a A$2.20ps TP on valuation but the outlook remains positive.

ResMed Inc. (ASX: RMD)

Morgans was pleased with ResMed’s third-quarter update, highlighting further double-digit growth and margin expansion.

In light of this, the broker has retained its buy rating on ResMed shares with a trimmed price target of $41.72.

Commenting on the company, the broker said:

RMD’s 3Q result was solid, with double-digit revenue and earnings growth, further margin expansion and strong cash flow generation. Sleep and respiratory demand remains robust, with continued mask strength and ROW re-acceleration, while SaaS remains stable but subdued. Notably, GM expansion continues, underpinned via manufacturing, procurement and logistics efficiencies.

And while macro uncertainties remain and investors seemingly focus on variability in US device growth while pondering if the Noctrix acquisition is merely a ‘plug’ to a slowing core, we view these concerns as myopic and manageable. We adjust FY26-28 forecasts modesty with our target price declining to A$41.72, mainly on house changes to FX and risk-free rate. BUY.

The post Buy, hold, sell: Coles, Liontown, and ResMed shares appeared first on The Motley Fool Australia.

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• Why Coles shares were just downgraded by Bell Potter
• 5 things to watch on the ASX 200 on Tuesday

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

It may be time to sell JB Hi Fi Ltd (ASX: JBH) and Westpac Banking Corp (ASX: WBC) shares.

That’s according to Fairmont Equities’ Michael Gable, who this week issued a sell recommendation for both the S&P/ASX 200 Index (ASX: XJO) bank stock and the ASX 200 electronics retailer (courtesy of The Bull).

In early afternoon trade today, JB Hi-Fi shares are down 1.4%, changing hands for $77.47 apiece.

Westpac shares are sliding as well, down 1.1% at $38.06 each.

This sees both stocks trailing the 0.6% losses posted by the benchmark index at this same time.

Longer-term, Westpac shares remain up 17.4% over 12 months, excluding dividends.

JB Hi-Fi shares have had a more difficult year, down 25.2% in 12 months, also not including dividends.

Looking ahead, with an eye on rising inflation and the resulting higher interest rates, Fairmont Equities’ Gable believes both ASX 200 stocks could be in for a rough patch.

Time to sell Westpac shares?

“We had previously been bullish on the banks when they were trending higher from high levels of momentum,” said Gable. “However, they are stalling at current levels.”

Commenting prior to today’s half year results release, which look to be pressuring Westpac shares, Gable noted, “A recent trading update by WBC indicated economic conditions could be getting tougher in response to rising interest rates, inflation and potential fuel shocks.”

Indeed, at today’s results release – which saw Westpac report a 3% year-on-year increase in statutory net profit to $3.4 billion – Westpac CEO Anthony Miller cautioned:

The war in the Middle East is presenting challenges for some customers and the economic impact of the conflict will continue through the year. The disruption to energy supply chains has driven a rise in prices and we’re seeing this flow through to businesses and households…

Summarising his sell recommendation on Westpac shares, Gable concluded:

In our view, challenging economic conditions are likely to impact lending activity and credit quality. Even a robust dividend yield may not be enough to prevent a further slide in WBC’s share price.

Should you sell JB Hi-Fi shares?

Atop Westpac shares, Gable also foresees economic headwinds building for JB Hi-Fi shares.

“With interest rates possibly rising again on top of higher fuel prices, we would be cautious about discretionary retail stocks,” he said.

According to Gable:

Households are under increasing pressure from higher cost of living expenses, which could result in consumers cutting discretionary spending. This consumer electronics giant faces the challenge of sustaining revenue and earnings in a potentially softer economy.

From a charting perspective, the share price remains in a downtrend. The shares have fallen from $121 on August 20, 2025 to trade at $78.10 on April 30, 2026. We would be inclined to cash in some gains at this stage of the cycle.

The post Sell alert! Why this expert is calling time on JB Hi-Fi and Westpac shares appeared first on The Motley Fool Australia.

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• Why is everyone talking about Westpac, Ampol and NextDC shares on Tuesday?
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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.

WiseTech Global Ltd (ASX: WTC) shares are soaring higher in lunchtime trade on Tuesday.

At the time of writing the shares are up 6.5% to $46.30 a piece. At one point this morning the tech company’s shares climbed as high as $46.80 each.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.6% for the day at the time of writing and the S&P/ASX 200 Information Technology Index (ASX: XIJ) is up 1.1% and trading at a two-month high.

The latest uptick means the tech shares have climbed over 12% in the past five days alone. The jump also means that WiseTech shares have now rebounded 27% from a multi-year low of $36.53 recorded on Monday last week.

There is still a low way to go for WiseTech shares, though. Even after the rebound, the shares are still down 32% for the year-to-date and a huge 51% lower than this time last year.

What is happening to WiseTech shares?

It’s been a bloodbath for WiseTech shares over the past 10-months, with the tech company hit by multiple and consecutive headwinds which sent its share price tumbling. The downturn accelerated in 2026.

WiseTech was caught up in a tech-sector wide sell-off earlier this year after investors became concerned about the implications of AI on traditional software models. Many were worried that AI tools might replace or reduce demand for subscription-based software. 

Shortly later, concerns about escalating conflict in the Middle East spooked investors further. Global sharemarket uncertainty saw investors turn their back on high-growth technology stocks like WiseTech and rotate towards more stable assets instead.

There hasn’t been any price-sensitive news out of WiseTech to explain today’s price hike, but the company did confirm it will participate in the 2026 Macquarie Australia Conference in Sydney on 5-6 May 2026. 

WiseTech said it will outline its strategy for the next phase of long-term growth at the conference.

In the materials, WiseTech confirms an FY26 underlying EBITDA guidance range of US$598.5 million to $637.5 million.

The company expects margins expected to be lower short term (around 40-46%) due to integration impacts, most notably from its e2open acquisition.

It’s likely that a rebound of investor confidence in WiseTech and also ASX tech shares overall, is also helping today’s share price climb.

Can the shares keep climbing?

It’s possible that could be the beginning of a good rally for WiseTech shares.

According to TradingView data, analysts are very bullish about the outlook for the tech over the next 12 months.

The majority (16 out of 17) have a buy or strong buy rating on the stock. That’s an upgrade from 14 out of 16 analysts with a buy or strong buy rating in mid-April. 

The average target price is $76.55, which implies a potential upside of 67% over the next 12 months. Although others think that the tech shares could climb up to 152% to $115.78.

The post WiseTech shares are flying 6.5% higher today. Can they keep going? appeared first on The Motley Fool Australia.

More reading

• Why Flight Centre, Sigma Healthcare, Vault Minerals, and WiseTech shares are storming higher today
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• Up 14% in April, is it too late to buy WiseTech shares?

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 positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. At the time of writing, the benchmark index is down 0.6% to 8,646.5 points.

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

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up 3.5% to $10.53. This morning, the travel agent giant released a trading update and revealed solid growth financial year to date. Flight Centre achieved underlying profit before tax (UPBT) growth of 9.7% to $226.4 million and total transaction value (TTV) growth of 7.6% to $19.5 billion for the nine months to 31 March. The company’s CFO, Adam Campbell, said: “We’ve seen strong momentum in both our corporate and leisure businesses, despite a challenging travel environment. Our people have gone above and beyond for customers, and our focus on technology and efficiency continues to deliver returns.”

Sigma Healthcare Ltd (ASX: SIG)

The Sigma Healthcare share price is up 4% to $2.94. Investors have been buying the Chemist Warehouse owner’s shares after it released a strong update and revealed plans to enter the UK market. It revealed that Australian Chemist Warehouse branded store network sales increased 16.7% for the financial year to date through to 30 April 2026. Chemist Warehouse international store sales increased 24.7%. Sigma’s CEO, Vikesh Ramsunder, said: “Our operational performance is pleasing with momentum sustained throughout the year reinforcing the defensive nature of our business model and continued execution of our growth strategy. International expansion is one of our four key strategic growth pillars. Having proven that the Chemist Warehouse model resonates with customers in other markets, including New Zealand and Ireland, the JV with GreenLight now provides a measured market access into the UK.”

Vault Minerals Ltd (ASX: VAU)

The Vault Minerals share price is up 5% to $4.72. This morning, the gold miner announced an agreement to merge with Regis Resources Ltd (ASX: RRL). The agreement will see Regis Resources acquire 100% of Vault Minerals via a scheme of arrangement. Vault Minerals shareholders will receive 0.6947 Regis shares for each share held. The Vault Minerals board has unanimously recommended the scheme. This is in the absence of a superior proposal and subject to an independent expert’s endorsement.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is up 5% to $46.03. This appears to have been driven by the release of a presentation from the logistics solutions technology company today. In the presentation, WiseTech reaffirms its guidance for underlying EBITDA of $550 million to $585 million in FY 2026.

The post Why Flight Centre, Sigma Healthcare, Vault Minerals, and WiseTech shares are storming higher today appeared first on The Motley Fool Australia.

More reading

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• Sigma shares race higher on update and Chemist Warehouse UK expansion
• Got $10,000 to invest in May? Here are 2 ASX tech shares to buy
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Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Westpac Banking Corp (ASX: WBC) released its eagerly anticipated half-year results this morning and has declared its latest interim dividend.

Here is what investors need to know.

Westpac’s half-year results

As a reminder, Westpac released a solid half-year result that showed earnings growth and a strong capital position.

The bank reported statutory net profit of $3.4 billion, up 3% on the first half of FY 2025 but down 5% on the second half. Net profit excluding notable items came in at $3.5 billion, up 1% on the prior corresponding period and down 1% on the previous half.

Westpac also ended the half with a CET1 capital ratio of 12.4%, which is above its target ratio of 11.25% in normal operating conditions.

Commenting on the half, Westpac CEO Anthony Miller said:

This half, we’ve delivered solid operating momentum while investing for the future. Our strong balance sheet and disciplined focus will allow us to support customers through global uncertainty.

He also noted that growth was solid across lending and deposits, saying:

Growth is solid across lending and deposits, with several highlights. We grew Australian mortgages, excluding RAMS, in the half at 1.2x system, with the proportion of new first party lending increasing. We are supporting Australian businesses with lending up across both business and institutional over the past year. At the same time we are managing costs, which are down from the prior half.

The Westpac dividend

In light of this performance, the Westpac board declared a fully franked interim ordinary dividend of 77 cents per share.

This was flat on the previous half but an increase of 1.3% on last year’s interim dividend, and represents a payout ratio of 77.1%.

Westpac shares are scheduled to trade ex-dividend for this payout on 8 May 2026.

The ex-dividend date is when investors need to own the shares before to qualify for the dividend.

If an investor buys Westpac shares on or after the ex-dividend date, they will not receive this interim dividend. Instead, the seller keeps the entitlement.

When will the dividend be paid?

The good news is that investors won’t have to wait too long for payment.

Westpac advised that the interim dividend is scheduled to be paid next month on 26 June 2026.

The bank’s dividend reinvestment plan (DRP) will apply to this dividend. However, unlike the National Australia Bank Ltd (ASX: NAB) DRP, Westpac’s will not include a discount.

The post Everything you need to know about the latest Westpac dividend appeared first on The Motley Fool Australia.

More reading

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• 5 things to watch on the ASX 200 on Tuesday

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.

Westpac Banking Corp (ASX: WBC), Ampol Ltd (ASX: ALD) and NextDC Ltd (ASX: NXT) shares are stirring up investor interest on Tuesday.

As we head into the Tuesday lunch hour, two of the ASX heavyweights are outpacing the 0.8% losses posted by the S&P/ASX 200 Index (ASX: XJO) at time of writing, while one is trailing that performance.

Here’s what’s happening.

NextDC shares gain on $1.8 billion funding news

NextDC shares are up a 0.1%, trading for $14.09 each.

This comes after the ASX 200 data centre operator and developer announced that it has secured $1.8 billion in new senior debt facilities from a syndicate of domestic and international banks.

With the new funding in place, NextDC now has $8.2 billion of senior debt available.

The company said it intends to use the new funds for ongoing data centre developments amid strong demand growth, as well as general corporate purposes.

On 20 April, the company reported a record increase in contracted utilisation.

NextDC shares are up 15% in 2026.

Which brings us to…

Ampol shares lift on Macquarie presentation

Ampol shares are also making headlines and outperforming today.

Shares in the Aussie fuel supplier are up 0.5% at time of writing, trading for $35.44 each.

This comes following Ampol’s company presentation at the annual Macquarie Group Ltd (ASX: MQG) Conference.

As you may be aware, Ampol operates the Lytton refinery, located in Brisbane, one of only two domestic refineries remaining in Australia.

Management focused on the impacts of the Middles East conflict, noting that the world is losing around 10 million barrels of oil per day due to the ongoing hostilities.

Ampol said it was well placed at the start of the Iran war at the end of February, with its crude and product secured through Q2 2026. The ASX 200 energy stock expects tightness during Q3.

The company added that domestic refining plays a critical role when global supply is disrupted.

Management noted, “Ampol is uniquely positioned through its integrated supply chain, with domestic refining, independent trading and shipping capabilities and a national terminal and distribution network.”

In the first quarter of 2026, Ampol reported a Lytton Refiner Margin (LRM) of US$25.45 per barrel.

Ampol shares are up 10% in 2026.

And finally…

Westpac shares sink amid economic outlook concerns

Joining Ampol and NextDC shares in turning heads today, Westpac released its first half results this morning.

Shares in the ASX 200 bank stock are down 1.8%, changing hands for $37.80 each, despite Westpac reporting a 3% year on year increase in statutory net profit to $3.4 billion. However, statutory net profits were down 5% from the prior half.

On the passive income front, management declared a fully franked interim dividend of 77 cents per share. That’s up from last year’s interim dividend of 76 cents per share.

Investor may also be favouring their sell buttons amid concerns over the Iran war’s looming impact on the Aussie economy and the bank’s second half performance.

“The war in the Middle East is presenting challenges for some customers, and the economic impact of the conflict will continue through the year,” Westpac’s CEO Anthony Miller said.

Westpac shares are down 3% in 2026.

The post Why is everyone talking about Westpac, Ampol and NextDC shares on Tuesday? appeared first on The Motley Fool Australia.

More reading

• Everything you need to know about the latest Westpac dividend
• NextDC shares pull back after a funding update. Here’s what you need to know
• Brent crude oil price rips to 4-year high amid missile strikes in Strait of Hormuz
• Westpac share price rises on $3.5bn first-half profit
• NEXTDC secures $1.8bn in new senior debt to boost liquidity

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 Macquarie Group. 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.

Magellan Financial Group Ltd (ASX: MFG) shares are having a rough session on Tuesday after the fund manager released a fresh update.

At the time of writing, the Magellan share price is down a sizeable 7.54% to $9.56.

That leaves the stock down around 4% in 2026, though it remains up about 24% over the past year.

Here’s what landed this morning.

Magellan reshuffles global equities funds

According to the release, Magellan announced changes to the investment management arrangements for its Global Equities strategy.

The Magellan Global Fund Open Class Units and Magellan Global Fund Hedged will move to the Vinva Global Alpha Strategy.

Vinva Investment Management will become the investment manager of the funds.

In total, those funds had about $5.3 billion in assets under management at 30 April 2026.

Magellan Asset Management will remain the responsible entity and will keep responsibility for distribution.

The company also intends to close the Magellan Global Equities Fund (currency hedged), which had about $94 million in assets.

Magellan said the investment strategy and philosophy for its Global Opportunities strategy will remain unchanged.

Alan Pullen will continue as portfolio manager, with Ryan Joyce staying on as deputy portfolio manager.

Fees cut as part of the change

The other big part of today’s update is the fee cut.

Magellan will reduce management fees across the affected funds from 1.35% per year to 0.89% per year.

In addition, performance fees will also be removed.

On paper, that should make the funds more competitive for clients.

The issue for shareholders is that lower fees also mean less revenue from a sizeable pool of funds.

Magellan said the funds are expected to see an average fee reduction of about 55 basis points, including sub-advisory fees.

The company expects the changes to be implemented in early June, subject to ASX approvals.

Why investors are selling

Magellan expects to realise direct cost savings of about $7 million a year from the changes.

That includes a smaller global equities team and lower fund administration costs.

At 30 April, it also managed about $3.7 billion in similar mandates.

The company said it is still working through how these changes will affect those clients.

That may explain some of the pressure on the share price today.

The cost savings are useful, but they do not fully offset the bigger concern here. Magellan is cutting fees and making more changes while the business is still trying to rebuild confidence.

What did management say

CEO and Managing Director Sophia Rahmani said the move was about improving outcomes and positioning the business better.

She said:

Today’s announcement reflects our commitment to putting clients first and our insight into client needs today and in the future.

Rahmani also said Vinva has a strong long-term track record.

She added that the lower fees strengthen the competitiveness of Magellan’s global equities offering.

Foolish Takeaway

I am not in a rush to step in here.

The fee cuts may make the funds easier to sell, but I still want to see evidence that this actually improves flows.

Magellan has already been through a long reset, and today’s update adds another moving piece.

Until fund flows start moving in the right direction, I’ll be holding off on any investment in the stock.

The post Why Magellan shares are getting smashed today 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 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.