Category: Stock Market

The Webjet Limited (ASX: WEB) share price is taking off on Monday, trading in the green despite no news having been released by the online travel agency.

However, one of its ASX travel peers released an optimistic update regarding its upcoming earnings this morning.  

At the time of writing, the Webjet share price is $5.13, 1.89% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.09% right now.

So, what’s bolstering the ASX 200 travel giant higher today? Let’s take a look.

What’s boosting the Webjet share price?

The Webjet share price is soaring alongside its ASX 200 travel peers today. Their gains are likely driven by promising news from Flight Centre Travel Group Ltd (ASX: FLT) camp.

The travel giant announced it had experienced strong demand for global travel towards the end of financial year 2022. So much so that it’s upgraded its guidance.

The travel agency now expects to post an underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) loss of between $180 million and $190 million.

Previously, it expected to post an underlying EBITDA loss of between $195 million and $225 million.

It also expects to break even over the six months ended June and to post a healthy fourth-quarter profit.

Of course, that also likely bodes well for Webjet. The company returned to profit over the six months ended 31 March. It’s expected to release its full-year earnings in November.

The Webjet share price is also joined in the green by many other ASX 200 travel shares.

Notably, Qantas Airways Limited (ASX: QAN) and Corporate Travel Management Ltd (ASX: CTD). They’re currently up 1.8% and 5%, respectively.

The post Why is the Webjet share price having such a great start to the week? appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 travel shares having such a stellar session?
• What’s in store for the Webjet share price in FY23?
• Why Accent, Humm, IAG, and Webjet shares are dropping
• Why are Flight Centre, Webjet, and other ASX travel shares sinking today?
• ASX 200 midday update: Brickworks higher, IAG drops on prelim results, Zip rockets

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet Ltd. 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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On the back of rising commodity prices, the Rio Tinto Ltd (ASX: RIO) share price has surged 50% since 2017.

In early August 2021, the mining giant’s shares hit an all-time high of $137.33, buoyed by record iron ore prices.

The steel-making ingredient touched above US$220 a tonne which resulted in strong profits for Rio Tinto.

But this was short-lived as its shares plummeted below $90 two months later before moving in circles ever since.

Notably, Rio Tinto is well-known in the investing world for paying large dividends to shareholders over the years.

Let’s take a look below at how much the company has distributed.

A brief recap on the Rio Tinto dividend history

Here’s a rundown of the Rio Tinto dividends that have been paid out to shareholders over the last five years.

• September 2017 – $1.38 (interim)

• April 2018 – $2.29 (final)

• September 2018 – $1.71 (interim)

• April 2019 – $5.90 including special dividend of $3.39 (final)

• September 2019 – $3.08 including special dividend of 89 cents (interim)

• April 2020 – $3.50 (final)

• September 2020 – $2.16 (interim)

• April 2021 – $5.17 including special dividend of $1.20 (final)

• September 2021 – $7.60 including special dividend of $2.51 (interim)

• April 2022 – $6.63 including special dividend of 86 cents (final)

Rio Tinto has paid a total of $39.42 in dividends to shareholders from September 2017 to today. This is quite significant given the figure represents almost 40% of the current share price.

Rio Tinto share price snapshot

Over the last 12 months, the Rio Tinto share price has fallen 24% amid the market’s extreme volatility.

Year to date, its shares have been impacted by lower iron ore prices but are relatively stable, down 3% for the period.

Rio Tinto presides a market capitalisation of roughly $36 billion and has a dividend yield of 11.35%.

The post Guess how much Rio Tinto shares have paid in dividends over the last 5 years appeared first on The Motley Fool Australia.

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More reading

• Why Leo Lithium, Rio Tinto, Santos, and Woodside shares are dropping today
• Rio Tinto share price stumbles following near-$1b ATO settlement
• Top brokers name 3 ASX shares to buy today
• ‘We have clearly seen the peak’: Sector veteran gives earnings season warning for ASX mining shares
• What’s the outlook for the iron ore price in 2023?

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.

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ASX 200 travel shares are leaping today after Flight Centre delivered some good news to the market.

Travel shares rising today include Flight Centre Travel Group Ltd (ASX: FLT), Qantas Airways Limited (ASX: QAN), and Webjet Limited (ASX: WEB).

Let’s take a look at how ASX 200 travel shares are performing today.

Why are ASX 200 travel shares rising today?

Flight Centre shares are 4% higher, while the Webjet share price is leaping 1.79%. Qantas shares are also up 2% today.

Investors appear to be encouraged by Flight Centre’s FY22 market guidance, released today. The travel company reported its underlying EBITDA loss will be less than expected. The company is expecting to break even on an underlying EBITDA basis for the first six months of this calendar year.

The company also provided broader insight into the travel market, potentially providing hope for fellow ASX 200 travel share investors.

Flight Centre said “demand accelerated” after the government relaxed travel restrictions. Managing director Graham Turner said:

The scale of our recovery exceeded our initial expectations and meant that we should now
exceed our preliminary FY22 result target, with early trading results pointing to a breakeven
second half result and a healthy fourth quarter profit (underlying EBITDA).

There will inevitably be ongoing challenges for the industry over the next six to twelve
months as new strains of the virus emerge, airline capacity returns and as we rebuild staff
numbers to required levels, but we feel that we are well placed to overcome these concerns
given our corporate business’s continued rise and our leisure business’s ongoing strength.

Meanwhile, the Federal Government has resisted calls from the Opposition to close Australia’s borders to Indonesia due to Foot and Mouth disease. Deputy Prime Minister Richard Marles said the government’s response is “significant. He said in comments cited by Nine News:

We have got more biosecurity officers on the job. We’re looking putting in place the biosecurity zones around a number of our airports.

The post Why are ASX 200 travel shares having such a stellar session? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: EML crashes, Flight Centre jumps on guidance upgrade
• Flight Centre share price storms 5% higher on guidance upgrade
• What’s in store for the Webjet share price in FY23?
• Why Accent, Humm, IAG, and Webjet shares are dropping
• Why are Flight Centre, Webjet, and other ASX travel shares sinking today?

Motley Fool contributor Monica O’Shea 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 recommended Flight Centre Travel Group Limited and Webjet Ltd. 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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It’s been a rather disappointing start to the trading week so far for ASX shares and the All Ordinaries Index (ASX: XAO). This Monday has seen the All Ords lose 0.16% of its value at the time of writing, putting it around the 7,000 point mark. But it’s been even more disappointing for the Hawsons Iron Ltd (ASX: HIO) share price.

Hawsons Iron shares are presently trading at 41.8 cents each, down a nasty 2.91% from where the company closed last week. Rather perplexingly, this sharp move downwards comes after Hawsons initially spiked to 44 cents a share (up more than 2%) soon after market open today.

So what’s going on here?

Why is the Hawsons Iron share price lagging other ASX iron miners today?

Well, it’s a strange move to be sure. The iron ore price itself (normally a barometer for iron miners like Hawsons) is having a very strong start to the week.

As my Fool colleague Aaron covered this morning, the iron price is today fetching US$104.55 a tonne, up a pleasing 5.9% from where it was at the end of last week. As one would expect, many ASX iron mining shares are surging amid these pricing moves.

Take Fortescue Metals Group Limited (ASX: FMG). Fortescue shares are advancing decisively today, currently up 1.46% at $18.09 each. BHP Group Ltd (ASX: BHP) is also rising, up 1.63% at $37.35 a share.

So it’s unclear why Hawsons Iron shares are missing out on this party. Hawsons hasn’t put out any ASX announcements or any other news that might be dragging on its share price. Perhaps, after rising more than 144% in 2022 thus far, investors aren’t willing to extend Hawsons any more rope at this time. But it’s hard to know for sure.

In the meantime, the current Hawsons Iron share price gives this ASX mining share a market capitalisation of $309.4 million.

The post What’s with the Hawsons Iron share price on Monday? appeared first on The Motley Fool Australia.

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More reading

• Why is the IAG share price lifting 6% higher today?
• Dicker Data share price powers down despite record first-half profit
• Perpetual share price slides following $7.5 billion of quarterly outflows
• Netflix’s subscriber loss sell-off: Should you really ditch the stock?
• LiveTiles share price slumps 31% as quarterly cash bleed worsens

Motley Fool contributor Sebastian Bowen 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.

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The Insurance Australia Group Ltd (ASX: IAG) share price is trading higher today.

At the time of writing, investors have bid the IAG share price 6.41% into the green to $4.48 on no news.

In broader market moves the S&P/ASX 200 Financials Index (ASX: XFJ) is trading 0.2% lower.

Both the index and the IAG share price have whipsawed this year to date, as seen on the chart below.

What’s up with the IAG share price?

The ASX insurance share has caught a bid today despite finishing the week in the red last Friday. It closed at $4.21 a share, not too shy of its 52-week low of $4.14 a month earlier.

Fast forward and investors have bought in at the lows today. The company has caught buyers all the way across the session at the time of writing.

It certainly wasn’t the same sentiment last week when IAG released its preliminary FY22 results.

The company revealed it expects an insurance profit of $586 million, resulting in a margin of 7.4%. That was below the guided range of 10-12%.

It also said that gross written premium (GWP) is set to increase this financial year. At the same time, it increased natural peril allowance by around 19% to $909 million in its FY23 guidance.

Not only that, but the prospect of rising interest rates could bode well for the IAG share price, according to CIO at Atlas Funds Management Hugh Dive.

“[R]ising interest rates don’t impact all companies…” he told Livewire. “I think the insurance companies will do well particularly.”

The IAG share price is down 8% in the past 12 months but is up 6% this year to date.

The post Why is the IAG share price lifting 6% higher today? appeared first on The Motley Fool Australia.

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More reading

• Why Accent, Humm, IAG, and Webjet shares are dropping
• IAG share price drops despite ‘strong momentum’ for FY23
• ASX 200 midday update: Brickworks higher, IAG drops on prelim results, Zip rockets
• IAG share price on watch following FY22 profit of $347m
• Here’s why one analyst is ‘cautious’ of the IAG share price

Motley Fool contributor Zach Bristow 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 positions in and has recommended Insurance Australia Group Limited. 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 Dicker Data Ltd (ASX: DDR) share price is out of form on Monday after weakness in the tech sector offset the release of a strong half-year update.

In afternoon trade, the technology distributor’s shares are down 7% to $12.13.

Dicker Data share price lower despite strong growth

• Revenue up 36% to $1,459 million
• EBITDA up 20% to $61 million
• Operating profit before tax up 11% to a record of $51 million excluding acquisition costs

What happened during the half?

For the six months ended 30 June, Dicker Data delivered a 36% increase in unaudited revenue to $1,459 million. This was driven by a combination of organic growth from existing and new vendors and a full six-month contribution from the Exeed acquisition.

The latter completed on 6 August 2021, which means it was not part of the business during the prior corresponding period. For the half, Exeed contributed $192 million of the $390 million increase in revenue.

In addition, the first half result includes a two-month contribution from the Dicker Data Access and Surveillance (DAS) business following the acquisition of the Hills Security and IT (SIT) division. It generated revenue of $18 million during those two months.

Excluding the acquisitions, Dicker Data’s revenue would have still been up a very strong 17% over the prior corresponding period. This reflects robust demand for its offering due to the continued digital transformation of the corporate, commercial and Government sectors in Australia and New Zealand.

Softer but in line margins

Management notes that its gross margin softened year on year to 8.8% for the first half. This is in line with expectations and reflects supply chain disruptions, the introduction of the Exeed retail business, and increased freight costs.

Management continues to expect gross margins of approximately 9% for the full year ending 31 December 2022.

Outlook

While no sales or earnings guidance has been provided for the full year, management spoke positively about demand. It commented:

Demand remains strong across the Company’s product portfolio highlighting IT distribution’s essential role in enabling access to technology and the appetite of the local market for technology services and products. This trend shows no signs of slowing as the digital transformation continues. Advanced solutions, such as infrastructure, networking, security and software have returned high levels of growth as business confidence also edges higher. Demand for end-user computing and devices has normalised, while the Company’s Professional AV division continues to grow above expectations.

And while Dicker Data is not immune to supply chain headwinds, it is managing them well. It explained:

Stock and logistical challenges remain constant and are forecast to continue into 2023. However, the Company is fulfilling more orders and shipping more stock than in previous years, demonstrating a significant shift from supply-driven constraints to demand outstripping supply. The Company has a wealth of knowledge in managing these challenges and is proactively working with its customers to manage expectations and reduce the impact of the supply chain on their businesses.

Dicker Data’s audited results will be released towards the end of August.

The post Dicker Data share price powers down despite record first-half profit appeared first on The Motley Fool Australia.

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More reading

• Brokers rate these ASX dividend shares as buys
• Top ASX dividend shares to buy in July 2022
• Why Dicker Data shares are among this fund manager’s favourites
• Here’s why brokers rate these ASX dividend shares as buys
• Here are the top 10 ASX shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has positions in and has recommended Dicker Data Limited. 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 Perpetual Ltd (ASX: PPT) share price is trading down today following the release of its quarterly business update for the period ended 30 June 2022.

At the time of writing, the Perpetual share price is trading 3.35% in the red at $29.40, not too distant from its 52-week low of $27.87 on 20 June.

Perpetual share price slips alongside AUM

Key takeouts from the period include:

• Total Assets under Management (AUM) were A$90.4 billion at 30 June 2022, 8% lower than the prior period
• Performance – 92% of Barrow Hanley’s equities strategies and 92% of Australian equity strategies outperformed their benchmarks over three years
• Perpetual Asset Management International’s (PAMI) AUM was A$69.2 billion, down 5%, impacted by negative market movements and net outflows.
• Perpetual Asset Management Australia’s (PAMA) AUM was A$21.3 billion, down 16% year on year, after net outflows of $2.1 billion.
• Perpetual Corporate Trust continued to deliver steady growth, with total Funds under Administration (FUA) up 3% to A$1.09 trillion
• Perpetual Private’s Funds under Advice were A$17.4 billion, down 7% in the quarter due to
  negative market movements, but supported by continued positive net flows
• Trillium’s flows were broadly flat, with $11.5 million in outflows during the quarter

What else happened this period for Perpetual?

Despite incurring some downside in its core asset holdings due to market volatility, Perpetual saw some growth across divisions last quarter.

The Perpetual Private (PP) and Perpetual Corporate Trust (PCT) businesses continued to grow during the period.

These contributed non-market-related revenue and approximately 30% of total group revenue.

PP marked a record 18 consecutive half years of inflows, while PCT continues to deliver steady growth from exposure to trustee, custodian, and securitisation markets.

For its Barrow Hanley and Trillium segments, the business pipeline has also grown.

It reported the pipeline for the June quarter included approximately $933 million of committed investments, which have all now been fully funded.

Management commentary

Speaking on the announcement, Perpetual Chief Executive Officer and Managing Director, Rob Adams said:

Perpetual has delivered a solid quarter in what has been a tough market environment for asset managers. It is during such periods of difficult global investment markets that the benefits of Perpetual’s unique combination of businesses come through, bringing sector, client and geographic diversity, with our non-market linked revenues helping to provide a level of earnings stability through market cycles.

While our AUM was impacted by a decline in markets through the quarter, our investment teams delivered very strong relative investment performance, with all but two of our equities funds across Barrow Hanley and our Australian equities team in Perpetual Asset Management Australia (PAMA) outperforming their benchmarks over three years.

What’s next for Perpetual?

The company expects FY22 operating expense growth to land between 18% and 22%. This reflects investments made through the year.

In the last 12 months, the Perpetual share price has slipped more than 23% into the red and is down 18% this year to date.

The post Perpetual share price slides following $7.5 billion of quarterly outflows appeared first on The Motley Fool Australia.

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More reading

• Pendal share price slides amid ‘potential transaction’
• Here are the top 10 ASX shares today

Motley Fool contributor Zach Bristow 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.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

With the release of its second-quarter financial results, Netflix (NASDAQ: NFLX) reported a net loss of 1 million subscribers in the quarter ended June 30. And this followed a loss of 200,000 customers in the first quarter of this year. For a business that has relied heavily on growing its user base over the past decade, this is not what investors want to see. 

Along with the broader market sell-off, spurred by high inflation and rising interest rates, shares of Netflix have fallen 64% in 2022. Is it time to sell this top streaming stock amid recent weakness in fundamentals? Let’s take a closer look. 

A better-than-expected quarter 

Three months ago, Netflix’s management, led by co-CEOs Reed Hastings and Ted Sarandos, had predicted a loss of 2 million subscribers in the just-ended quarter, so the company’s official results were better than those expectations. Nonetheless, this trend of losing customers is not what shareholders want to see, especially for a business that has rapidly grown its viewership since introducing streaming in 2007. 

In the UCAN region (U.S. and Canada), representing 33.2% of Netflix’s user base and 44.4% of its overall revenue in the latest quarter, the company lost 1.3 million subscribers. This marks the second consecutive three-month period (and third in the last five) that Netflix has shed viewers in the lucrative region.

Many Netflix bears are looking smart right now, since they have been calling the UCAN market completely saturated. The positive is that the average revenue per membership in the region increased 10% year over year. 

Netflix’s overall revenue jumped 8.6% year over year in the second quarter, which was lower than the 9.7% management had hoped for. Were it not for the strong U.S. dollar, a factor that hurts companies that generate sizable sales internationally, Netflix’s revenue would have increased 13% in the quarter. But either way you slice it, this growth is far lower than the double-digit gains investors are accustomed to seeing. 

Management is focused on two primary areas to propel the business and accelerate much-needed growth. The first initiative, well documented in recent months, is the planned introduction of a cheaper, ad-supported tier in early 2023. Netflix has chosen to partner with Microsoft on this strategic endeavor. Hastings has shunned this move in the past, but I believe it can attract more members, particularly price-sensitive ones. 

And although password-sharing among households once wasn’t really discouraged by management, cracking down on it has now turned into a revenue opportunity. Netflix estimates that there are more than 100 million households worldwide that use other accounts’ passwords for access to the content catalogue. Finding ways to convert these to paying subscribers could support increased sales. 

On a positive note, Netflix expects to add 1 million customers in the current quarter, returning to growth. 

What should investors do? 

For long-term shareholders of Netflix, the initial reaction to two straight quarters of subscriber losses is probably to sell. The business is not exhibiting the fast growth everyone is used to seeing.

But there are still some reasons to be optimistic. I don’t think anyone doubts that streaming entertainment is going to continue taking share from linear TV in the decade ahead. And Netflix, with its first-mover advantage and 220.1 million accounts today, is the clear leader in the space. According to data from Nielsen, Netflix accounted for the most TV viewing time (over 1.3 billion minutes) by far in the U.S. in the almost eight-month period from late September 2021 to early May 2022. 

While subscriber additions and revenue growth were the key factors that investors cared about before, Netflix is now positioning itself for a different financial future. The operating margin for 2022 is forecast to approach 20%. And thanks to both an optimized cost structure and more-controlled content spending, the business is projected to generate positive free cash flow this year, with a significant jump in 2023. 

With a price-to-sales ratio of just 3.2 as of this writing, which is substantially lower than the trailing-10-year average of 7, it’s safe to say that pessimism has never been higher. This presents a potential buying opportunity for shrewd investors. 

Despite the recent weakness, Netflix looks like a compelling investment. It is still a leader in producing great content, the upcoming ad-supported tier should help to boost growth, and the valuation looks attractive right now. Investors who are considering ditching the stock should take a closer look. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Netflix’s subscriber loss sell-off: Should you really ditch the stock? appeared first on The Motley Fool Australia.

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More reading

• Netflix still has a long way to go
• Why did the Netflix share price lift despite losing 970,000 subscribers?
• The end of ‘Stranger Things’ might actually be a boost for Netflix
• Betting against Netflix now could be a big mistake
• Should you invest in stocks right now? These 2 charts say yes

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

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The LiveTiles Ltd (ASX: LVT) share price is trading down today following the release of its quarterly activities report for the three months ending 30 June 2022.

At the time of writing, the share is trading more than 31% lower at 5.8 cents apiece.

LiveTiles share price dives on Q4 results

Key takeouts from the period include:

• FY22 operating revenues (unaudited) of $52.8 million, up 17% on FY21
• Contracted license user base of 2.77 million at 30 June 2022, up 20% from 30 June 2021
• Cash receipts of $12.9 million for the June quarter, delivering $56.7 million for FY22, a 10% year-on-year increase
• Net operating cash flows were a loss of $2.3 million for the quarter
• Cash position of $13.1 million at 30 June 2022
• Additional $4 million available to draw from the OneVentures debt facility, providing total available cash of $17.1 million
• $65.6 million ARR at 30 June 2022, up 4% year on year
• Trailing twelve month (TTM) customer net annual recurring revenue (ARR) retention of 91% at 30 June 2022

What else happened for LiveTiles last quarter?

LiveTiles printed Q4 FY22 cash receipts of $12.9 million, a decline of 11% year on year. This was underscored by an approximate $1.7 million in lower-than-expected customer receipts due by 30 June.

The company says these “were delayed and not received in time,” and that 60% of the expected collections have since been received.

Operating revenues were $52.8 million for FY22, up 17% from FY21. The growth was driven by increasing software subscriptions.

Contracted user licenses reached 2.78 million at 30 June 2022. This was up 20% from the same time last year. LiveTiles Reach also continued to expand, up 79% over the 12-month period.

LiveTiles also secured a key customer upsell deal in Q4. This will comprise an initial $200,000 in software and $900,000 in services over three years, the company says.

The customer – an international law firm domiciled across the United States and Europe – has committed to the full employee experience (EX) offering.

Management commentary

Speaking on the results, LiveTiles co-founder and chief executive officer Karl Redenbach said:

The June quarter marks one of strong operational achievements with the completion of integration of The Human Link and the formal launch of our Employee Experience Academy. These milestones represent a great opportunity for us to further expand our global footprint and lay the foundations for continued commercial growth through expanded distribution of our proprietary products globally.

We remain confident LiveTiles is well positioned to consolidate its place as a leader in the Employee
Experience market and continue to deliver growth through the next 12 months.

LiveTiles share price snapshot

The LiveTiles share price has slipped 42% into the red this year to date, leading to a more than 62% loss over the past 12 months.

The post LiveTiles share price slumps 31% as quarterly cash bleed worsens appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow 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 LIVETILES FPO. The Motley Fool Australia has recommended LIVETILES FPO. 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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ASX 200 tech shares are struggling today, following in the footsteps of their US counterparts.

Technology shares in the red on Monday include Xero Ltd (ASX: XRO), Wisetech Global Ltd (ASX: WTC), and Block Inc (ASX: SQ2).

Let’s take a look at why ASX tech shares are down.

Technology shares fall

The Block share price is down 3.82% at the time of writing, while Xero shares are 1.5% lower. Meanwhile, the Wisetech Global share price is 1.04% in the red.

ASX 200 tech shares are suffering after the technology-heavy NASDAQ dropped 1.87% in the US on Friday. Meta Platforms Inc (NASDAQ: META) shares also tumbled 7.59% on Friday while the Apple Inc (NASDAQ: AAPL) share price fell 0.81%.

The S&P/ASX All Technology Index is 1.8% in the red today, while the S&P/ASX 200 Information Technology Index (ASX: XIJ) is down 1.14%.

The NASDAQ fell after social media giant Snap Inc‘s (NYSE: SNAP) quarterly earnings spooked investors, Reuters reported. Snapchat shares fell 39% on Friday on the back of these results. In a letter to shareholders, Snapchat said:

We are not satisfied with the results we are delivering, regardless of the current headwinds

Meantime, Verdence Capital Advisors chief investment officer Megan Horneman highlighted economic growth is “slowing significantly”. In comments cited by Reuters, she said:

Economic data is coming in weaker.. kind of confirming the fact that a recession is highly likely over the next 12 months.

Block’s US listing also dropped 3.96% on the New York Stock Exchange on Friday.

The post Why are ASX 200 tech shares having such a lousy start to the week? appeared first on The Motley Fool Australia.

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}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Is the Xero share price heading back over $100?
• 3 fantastic ASX tech shares experts say are buys
• Here are the top 10 ASX shares today
• 3 ASX 200 tech shares having a stellar session today
• Here are the top 10 ASX shares today

Motley Fool contributor Monica O’Shea 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 Block, Inc., WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc., WiseTech Global, and Xero. 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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