Category: Stock Market

At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) has given back its early gains and dropped into the red. The benchmark index is currently down 0.2% to 6,776.6 points.

Here’s what is happening on the ASX 200 today:

EML crashes on Ireland update

The EML Payments Ltd (ASX: EML) share price is crashing deep into the red on Monday. This follows news that the Central Bank of Ireland has not approved the company’s remediation programme for its European operations. The bank identified “shortcomings” in components of the programme, principally the sequencing and approach taken to the risk assessment of its distributors, corporates and customers.

Flight Centre upgrades guidance

The Flight Centre Travel Group Ltd (ASX: FLT) share price is having a strong day thanks to a guidance upgrade from the travel agent. The company revealed that a strong finish to the financial year means that it expects a lower operating loss than previously guided to. Flight Centre expects to record an underlying EBITDA loss of between $180 million and $190 million in FY 2022. This is an 11.9% improvement on the mid-point of the company’s initial FY 2022 guidance.

South32 shares higher on quarterly update

The South32 Ltd (ASX: S32) share price is pushing higher today following the release of a solid production update from the mining giant. Among the highlights were Alumina production up 3% quarter on quarter to 1,361kt and aluminium production up 5% to 255kt. South32 also revealed that it expects to achieve its operating cost guidance for most commodities in FY 2022.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Flight Centre share price with a 5.5% gain. This follows the travel agent’s guidance update. Going the other way, the EML share price has been the worst performer by some distance on Monday. The embattled payments company’s shares are down 20% at lunch following its Ireland update.

The post ASX 200 midday update: EML crashes, Flight Centre jumps on guidance upgrade appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• EML share price crashes 22% on Ireland warning
• South32 share price higher on solid Q4 update
• Flight Centre share price storms 5% higher on guidance upgrade
• Up 10% so far in July, is the CSL share price heading back above $300?
• 5 things to watch on the ASX 200 on Monday

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 EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/nPMzWSU

The Camplify Holdings Ltd (ASX: CHL) share price is trading up in the green today amid the release of its Q4 FY22 activities report and business update.

At the time of writing, Camplify is trading 4% higher at $2.36 apiece. In broad market moves, the benchmark S&P/ASX 200 Index (ASX: XJO) is flat at 6,798 at the time of writing.

Camplify share price up as revenue climbs

Key takeouts from the quarter include:

• Q4 FY22 Gross Transaction Volumes (GTV) of $ 17.71 million, growth rate of 82.81% over the prior corresponding period (pcp), pcp being Q4 FY21.
• Revenue for Q4 FY22 of $5.6 million, a growth rate of 103.83% over the pcp
• Take rate for the quarter hitting 25.47% (unaudited) and 31.63% including van sales.
• Cash receipts from customers of $15.86 million for Q4 FY22
• Order book closing the quarter strong at $14.78 million in future bookings recorded.

What else happened last quarter for Camplify?

Camplify experienced an 83% growth in GTV over the pcp last quarter. Total GTV recorded was $17.71 million.

Net revenue also grew more than 103% compared to the same time last year. The company printed net revenue of $5.60 million, underscored by its “stellar growth performance”.

Future booking values continue to grow as well. Camplify left the quarter with an allocation of $14.78 million in future bookings value.

This represents a year on year increase of more than 112% to $6.95 million.

“Future bookings, are bookings that have been booked and paid, but are yet to take place, and not recognised in the Camplify recorded GTV allocation,” the company clarified.

Moreover, growth was recognised within all the company’s footprint, Camplify says.

“Growth for the period was consistent across all regions with over 83% increases in GTV in every region,” it noted.

In particular, New Zealand was strong in growth with a 146% year on year growth schedule. These numbers indicate a strong recovery there, the company says.

Other avenues of income continue to show signs of growth as well:

During the quarter the Camplify marketplace grew total customers by 67180. This includes users from the import of customers from the Mighway and ShareaCamper and organic customer growth.

Growth in the total RV fleet reached 9,926, a total growth percentage of 61.11% pcp.

In the past 12 months, the Camplify share price has held onto an 83% gain.

The post Camplify share price leaps 6% as revenue more than doubles appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

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

More reading

• ASX 200 midday update: EML crashes, Flight Centre jumps on guidance upgrade
• What’s the outlook for Newcrest Mining shares in FY23?
• Why is the Whispir share price tumbling 10% on Monday?
• Why has the Core Lithium share price surged 15% in a week?
• Investing is more important now than ever before

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 Camplify Holdings Limited. 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.

from The Motley Fool Australia https://ift.tt/8DqjMuz

Shares of Newcrest Mining Ltd (ASX: NCM) are rangebound today and trade less than 1% in the red.

At the time of writing, the gold miner is fetching $19.23, following a 17% slip into the red over the past month of trade.

Meanwhile, the price of gold is still bottom-heavy at US$1,722 per ounce.

What’s in store for Newcrest shares?

The gold price has been a challenge for Newcrest in CY2022. It has tumbled from previous highs and now trades at key long-term support levels, as seen below.

Newcrest shares and the gold price tend to track each other closely. Gold has been drifting lower as the opportunity cost of holding the yellow metal increases amid rising yields. Recall, gold pays no interest.

Newcrest released its operational update and exploration overview for the June quarter. The company reported sound results, with gold production in line with forecasts, and copper production slightly lower than guidance.

It also reported higher injury rates than the prior period at its Cadia, Telfer and Red Chris operations.

Investors can expect FY23 full-year guidance in Newcrest’s annual report due for presentation on 19 August.

It did note, however, that it is progressing its “exciting pipeline of organic growth projects,” and remains “focused on superior operational performance”.

Meanwhile, 47% of brokers presently advocate buying Newcrest shares, while the remaining 53% is shared to hold, according to Refinitiv Eikon data.

The consensus price target from this list is $25.62, suggesting there could be more upside yet for the miner if this group is correct.

In the last 12 months, Newcrest shares have slipped more than 26% into the red.

The post What’s the outlook for Newcrest Mining shares in FY23? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

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

More reading

• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Newcrest share price up on quarterly results and exploration activities report
• 5 things to watch on the ASX 200 on Monday

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.

from The Motley Fool Australia https://ift.tt/4FlC9Ra

The Core Lithium Ltd (ASX: CXO) share price has taken off over the last seven days, leaping 15%.

Interestingly, there’s been no news from the lithium developer during that time. Though, future supply challenges have been flagged by an industry insider.

At the time of writing, the Core Lithium share price is $1.06. That’s up from last Monday’s open of 92 cents.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has gained around 3% over the same period.

So, what has been going on with the ASX 200 lithium developer’s stock? Let’s take a look.

What’s driving the Core Lithium share price higher?

The Core Lithium share price has been on a roll lately despite the company’s silence.

In fact, it’s been close to a fortnight since the market last heard price-sensitive news from the lithium favourite. Then, the company posted a significant increase to its flagship Finniss Project’s mineral resource estimate and ore reserve.

However, last week Tesla and Tech Council of Australia chair Robyn Denholm reportedly told a summit that a shortfall in battery materials could be the “rate-limiting actor” in the fight against climate change.

Denholm is said to have told the Clean Energy Summit the lithium industry must “scale at sprinting pace” to bolster supply of the material.

Of course, greater demand for lithium generally means higher prices, which tend to boost producers’ bottom lines.

Additionally, the Core Lithium share price still has plenty of room for recovery after a major lithium sell-off in June.

The stock tumbled 31% last month alongside many of its ASX lithium peers. It has since recovered around 8%.

Though, short sellers’ interest in the stock hasn’t abated yet. Between late May and mid-June, Core Lithium’s short position increased by around 5%. It was sitting at 7.6% as of the most recent count.

The post Why has the Core Lithium share price surged 15% in a week? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX shares today
• Here are the top 10 ASX shares today
• Why is the Core Lithium share price surging 7%?
• ASX 200 lithium shares get busy amid dire supply call
• Here are the top 10 ASX shares today

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 positions in and has recommended Tesla. 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.

from The Motley Fool Australia https://ift.tt/yG0JEFO

The Whispir Ltd (ASX: WSP) share price has started the week deep in the red.

In morning trade, the communications workflow platform provider’s shares are down 10% to $1.10.

Why is the Whispir share price sinking?

Broad weakness in the tech sector appears to have offset the release of the company’s reasonably solid quarterly update this morning and weighed heavily on the Whispir share price.

In respect to its update, for the three months ended 30 June, Whispir reported a 25.9% increase in cash receipts over the prior corresponding period to $16.96 million.

And while the company is not yet profitable, it has made an improvement with its cash outflows. During the period, Whispir reduced its free cash outflow by 15.8% over the prior quarter to $4.74 million thanks to its cost management program.

This left Whispir with a cash position of $26.1 million at the end of June, which management notes is sufficient to cover more than 12 months of cash burn in FY 2023. Though, it may not need it. Management believes that it will achieve positive EBITDA during second half of FY 2023.

What were the drivers of its growth?

According to the release, Whispir now has over 1,000 customers using its communications platform. All regions showed growth during the quarter, with North America the stand-out with a 16.7% increase over the prior quarter.

Another positive was its customer revenue retention (CRR) which came in at 125.5% in June. This was an improvement of 8.4% versus the prior corresponding period. Customer churn remains under 5%.

FY 2022 guidance

Whispir also provided the market with an idea of what to expect with its full-year results next week.

It advised that it expects to exceed the upper end of its revenue guidance range of $64 million to $68 million by up to 5%.

Management also revealed that it expects to exceed the upper end (the good end) of its EBITDA loss range by up to 10%.

One small disappointment, though, is that its annual recurring revenue (ARR) is only expected to be at the lower end of its $65.4 million to $70 million guidance range.

Whispir’s CEO, Jeromy Wells, commented:

Whispir continues to sign new customers, expand its offering to existing customers, and find new markets and applications for its communications platform. With a robust cash position and a clear strategy for its three main geographical markets, the Company is well placed to achieve its goals of profitable operations during the second half of FY23 and becoming cash accretive during FY24.

The post Why is the Whispir share price tumbling 10% on Monday? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

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

More reading

• ‘Great long-term investment’: Expert names small-cap ASX share to buy for cheap
• Guess which ASX All Ords shares are serving up 15% gains 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 Whispir Ltd. The Motley Fool Australia has recommended Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/DVHAUdk

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 high inflation pushing up the cost of virtually everything while salaries aren’t keeping up, investing might seem like a luxury you can do without until things stabilize. Unfortunately, that thought process can lead to you falling ever farther behind. After all, investing gives you the chance to let your money work for you, and over time, a strong portfolio can help you cover the gap that your stagnating salary won’t.

That makes investing more important now than it has been in quite a long time. After all, every dollar of unearned income you receive is a dollar you don’t have to cover from your salary. Add the compounding effect of your investments potentially growing over time, and a decent portfolio just might provide you your best approach to fighting the runaway cost pressures we’re all facing. 

Start by getting your costs under control

Of course, with your costs escalating, it can be challenging to come up with the money to invest in the first place. On that front, there’s a straightforward approach you can take to help you get ready to invest. Start by tracking your expenses — every penny — for around two months. In this stage, there’s no need to judge where your money is going, just write it down. On top of that tracking, write down an estimate for the regular costs you face that don’t hit monthly, like birthdays, holidays, and insurance.

Once you know where your money is going, look over those expenses and mark them as red, yellow, or green, based on your own priorities. Money you’re spending absentmindedly or that you otherwise neither want nor need to spend, mark red. Money that is going toward critical parts of your life that you can’t or won’t live without, mark green. Everything else, mark yellow.

For the red coded expenses, the next step is simple: stop spending on them. Those are costs that you’re facing that aren’t at all a priority for you. When it comes to the green expenses, those are fine to hold onto, as long as they’re not overwhelming your income. Still, over time, you can look for ways to get them down, such as paying off your mortgage to lower your housing costs.

To tackle your yellow colored costs, you’ve got some work to do. Those are things you’re spending money on that aren’t super-critical to you but you’re not quite willing or able to completely do without. For these costs, you need to optimize. For instance, you might want to switch from cafe-bought coffee to the home brewed variety, or even the free coffee that could be available at your office. Likewise, a programmable thermostat can help you cut down on energy use without otherwise affecting your life.

Between cutting out the red expenses and optimizing your yellow expenses, you should be able to put some space between your income and your outgo. If not, go back to your spending list and see if there’s any more yellow expenses you can code red, green expenses you could code yellow, or yellow expenses you could continue to optimize. Your goal here is to free up as much cash as you can while minimizing the impact to the things you prioritize in your life.

Next-tackle your debts

Once you have your costs where you need them to be, your next objective should be to get your debts under control. The most efficient approach to pay off debt is known as the debt avalanche method. To use it, start by lining up your debts in order from the highest interest rate to the lowest interest rate.

On all debts except your highest interest one, pay the minimums. On that highest interest debt, pay as much as you can above that minimum until it’s completely paid off. After that debt gets paid off, take all the cash that you had been paying toward it and add it to your new highest interest rate debt. Repeat the process until nearly all your debts are paid off.

It may be OK to keep some of your debts out of the avalanche, paying only the minimums on them until they’re paid off. For that to be true, the debt should have a low interest rate, a low payment, and serve a key purpose for your future. Debts that may fit the bill are often ones like mortgages, medical debts, or auto loans on modest, reliable transportation.

Finally-start investing

By getting both your everyday costs and your debts under control, you just might find that you’ve freed up way more cash to invest than you initially thought possible. Make sure you set up a modest emergency fund, and then get to work investing for the long term future.

If you haven’t invested before, a low-cost, broad based index fund is a great choice. You’ll get market-like returns with very little effort. In addition, you’re likely to outperform the vast majority of Wall Street’s best and brightest active fund managers over time. Once you’re in that spot, you’ll be at the point where your money can be working for you — and helping you fight the crazy inflation we’re all facing.

Get started now

The sooner you get started on this approach, the sooner you can get to the point where you have a powerful tool at your side that can help you keep up with ever-escalating costs. Make today the day you begin your journey, and give yourself your best chance possible of reaching the point where the returns on your money can cover a decent chunk of your costs. 

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

The post Investing is more important now than ever before appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

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

More reading

• Genex share price rockets 50% on confirmed takeover bid
• Why is the Fortescue share price climbing today?
• EML share price crashes 22% on Ireland warning
• Your portfolio vs a bear market: How to come out on top
• Why is the Nanosonics share price sinking?

Chuck Saletta 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. 

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

from The Motley Fool Australia https://ift.tt/dFe0bP7

The Fortescue Metals Group Limited (ASX: FMG) share price is heading north today.

This is despite the iron ore mining outfit not releasing any price-sensitive announcements to the ASX.

At the time of writing, Fortescue shares are swapping hands at $18.24, up 2.3%.

Let’s take a look at what’s happened lately.

Iron ore prices stage a rebound

After falling more than 20% in the past month, iron ore prices have hit support to trade slightly above the psychological US$100 barrier.

According to the Australian Financial Review, the steel-making ingredient is fetching US$104.55 per metric tonne. This represents a gain of around 5.9% from Friday’s close.

Previously, iron ore touched new year-to-date lows after China established a $6 billion nationalised iron-ore company to curb sky-high prices.

The China Mineral Resources Group is expected to become the sole channel for buying imported iron ore from third parties. This includes the big three miners from Australia as well as Vale from Brazil.

Asserting some control over the market would place China in a stronger position to dictate a fairer price for iron ore.

Ultimately, this dragged down investor sentiment, which led to selling pressure for the steel-making ingredient.

Nonetheless, Fortescue shares are making a run today on the back of the latest price ascent. It appears the price of iron ore has found a floor for now ahead of the crucial United States Federal Reserve interest rate decision on Wednesday.

Other shares in miners such BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) are up 1.28% and 0.94%, respectively.

For context, the S&P/ASX 200 Resources (ASX: XJR) is in the green by 0.63% to 5,009.4 points.

It’s also worth noting that Rio Tinto’s results will also be out on Wednesday, which could have a flow-on effect on Fortescue’s shares.

Fortescue share price snapshot

A volatile 12 months brought on by COVID-19 and falling iron ore prices has led Fortescue shares to tumble 30%.

Although year to date has been slightly better, despite the current external market challenges, down 7%.

Based on today’s price, Fortescue presides a market capitalisation of approximately $54.9 billion.

The post Why is the Fortescue share price climbing today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• How might China’s $6b Mineral Resources Group impact the iron ore price?
• What’s going wrong for the Fortescue share price on Thursday?
• Why did the Fortescue share price leap 5% on Wednesday?
• Which ASX rich listers have grown their fortunes over the past year?
• 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.

from The Motley Fool Australia https://ift.tt/y7HVShP

The Genex Power Ltd (ASX: GNX) share price is taking off on Monday after the company confirmed a $300 million takeover bid and released its latest quarterly update.

The Genex share price launched 51.8% on open to reach 20.5 cents. At the time of writing, it has slipped slightly to trade at 19.5 cents – representing a 44.44% gain.

Let’s take a closer look at what’s driving the renewable energy company’s stock on Monday.

Genex share price takes off on takeover bid

It’s shaping up to be a huge day for the Genex share price, which rocketed more than 50% in early morning trade.

The gains came after the company confirmed it had received a takeover bid valuing it at more than $300 million and representing a 70% premium on Friday’s close.

The 23-cent per share cash bid was posted by a consortium including Atlassian co-founder and co-CEO Scott Farquhar’s Skip Capital and Stonepeak Partners.

The company’s board noted the acquisition proposal was unsolicited and said it “has not yet formed a view on [the bid’s] merits”.

The bid comes after Skip Capital snapped up a 19.99% stake in Genex’s stock last week.

Genex posts record revenue and cash flow

It certainly makes for an exciting period for the company, which posted its first full year of positive cash flow this morning.  

Genex’s operating cash flow for financial year 2022 came to $4 million. Its solar farms brought in record unaudited revenue of $26.1 million in that time while the company reported $8.6 million of revenue for the June quarter.

Genex benefited from strong electricity prices last quarter while construction continued at its Kidston Pumped Hydro Project and Bouldercombe Battery Project.

The company’s renewable energy generation and storage portfolio is worth more than $1 billion.

The post Genex share price rockets 50% on confirmed takeover bid appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Genex share price in focus amid Atlassian co-founder’s $300m takeover bid
• Here’s why ASX renewable shares slipped in June

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 positions in and has recommended Atlassian. 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.

from The Motley Fool Australia https://ift.tt/bMAvWij

The EML Payments Ltd (ASX: EML) share price is having a difficult start to the week.

In morning trade, the payments company’s shares are down 22% to 92.5 cents.

Why is the EML share price crashing?

Investors have been selling down the EML share price on Monday following the release of the company’s update on its dealings with the Central Bank of Ireland.

With the assistance of external expert advisors, EML’s European business, PFS Card Services, has been undertaking a remediation programme at the direction of Central Bank of Ireland since July 2021. This covers its entire operations in Europe.

According to today’s update, despite the significant work PFS Card Services has undertaken, the Central Bank of Ireland is still not satisfied with its remediation programme. It notes that the bank has identified “shortcomings” in components of the programme, principally the sequencing and approach taken to the risk assessment of its distributors, corporates and customers.

What now?

PFS Card Services will now adopt a revised approach to these components, which it warns may result in additional controls being embedded into the internal control framework. It is anticipated that the adjustments to the remediation programme will result in assurance being finalised in 2023.

In addition, EML will continue to operate with a material growth limitation over its total payment volumes while this remediation work is undertaken. These limitations are due to expire in December but this latest development could impact this.

EML’s new managing director and CEO, Emma Shand, and the board are actively engaging with the Central Bank of Ireland.

It’s not all bad news out of Europe, though. One positive is that the European Central Bank’s decision to raise the cash rate by 50 basis points last week is expected to immediately benefit EML’s European business by approximately $4 million on an annualised basis. Management also highlights that a favourable interest rate environment is expected to partially offset the elevated cost base in Europe due to the remediation programme.

The post EML share price crashes 22% on Ireland warning appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX 200 shares today
• Why Ansell, EML, Suncorp, and Whitehaven Coal shares are charging higher
• These are the 10 most shorted ASX shares
• EML Payments share price lifts on confirmed takeover talks
• EML Payments share price rebounds 12% after former CEO sheds more light

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

from The Motley Fool Australia https://ift.tt/mo4F7Oq

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.

Investing in stocks is not for the faint of heart. Unlike other asset classes — like real estate — where investors rarely experience extreme volatility, the stock market has a tendency to test the emotional fortitude of its participants.

And 2022 is just the latest episode in the saga.

With the S&P 500 declining as much as 23% year to date and its tech-heavy cousin, the Nasdaq Composite, down even more, there are investors who will likely leave the market for good in the coming weeks (if they haven’t already). In fact, a recent survey by Allianz Life found that 43% of investors are too nervous to buy stocks at current levels.

But if the goal is to buy low and sell high, why would investors be hesitant to buy when stocks are cheap?

This is the investor’s dilemma. We all say we are going to buy when the market is down, and yet when the opportunity presents itself, we find it difficult to pull the trigger. Here are three reminders to help you stay the course so your portfolio can come out of this bear market on top.

Net buyers of stocks win long term

One of the simplest reminders to calm one’s nerves during a bear market is that the market has never failed to recover from past crashes.

Consider the chart below that tracks the overall returns of the S&P 500 and Nasdaq as well as their all-time highs over the past several decades.

Data by YCharts.

This chart might be a bit confusing at first glance, but it’s actually pretty simple. The straight horizontal lines represent the period of time between all-time highs in both indices.

There are two important takeaways:

1. Both indices have recovered from every crash to reclaim their all-time highs and surge even higher.
2. There have been extended periods of time for both indices before those all-time highs were recovered.

The second takeaway is not as uplifting, but it should actually be the bigger motivator to keep investing through bear markets. If you are planning to wait until the market recovers to begin investing, just know you could be waiting more than seven years based on the S&P 500’s longest recovery.

Even worse, the tech investors who exited the market after the dot-com bubble missed out on nearly 300% of Nasdaq gains over the next 15 years:

Data by YCharts.

Finally, here are a couple more stats to support remaining a net buyer of stocks today:

• Half of the market’s best trading days take place during bear markets.
• Midterm election years tend to be brutal for stocks, but the average gain in the S&P 500 the following year is 32% (according to LPL Research).

Buying what you know gives you an edge

When the market gets me down, I often turn to the words of legendary mutual fund manager Peter Lynch.

He said the following about using your unique edge when buying stocks:

People have incredible edges and they throw them away […] If you’d worked in the auto industry — let’s say you have been an auto dealer for the last 10 years — you would have seen Chrysler come up with the minivan. If you were a Buick dealer, a Toyota dealer, a Honda dealer, you would have seen the Chrysler dealership packed with people. You could have made 10 times your money on Chrysler a year after the minivan came out.

Lynch’s point is instead of chasing hot stocks, look for companies in your area of expertise.

People are more than willing to pile money into industries they know nothing about because the rest of the market is doing so, even when there are huge opportunities in their own fields of expertise.

So, if you’re feeling frightened about putting money in the market right now, consider looking at stocks where you have a unique advantage. To be honest, this is good advice in any market cycle, but it can give you the conviction you need to keep investing during bearish periods.

Put on your contrarian hat

To succeed in investing, it can pay off looking at the market in a contrarian way. And in a bear market, there are tremendous opportunities to be a contrarian.

Right now, many investors are throwing out pretty much all technology companies. The market is collectively saying that because inflation is higher and interest rates are on the rise, technological growth will stall for the foreseeable future.

Much of this is muscle memory from the dot-com crash when hundreds of companies went public with weak to nonexistent underlying business models. But many of the technology companies that have sold off this past year are highly profitable and driving society forward in the digital world.

I doubt rising interest rates will significantly deter this advancement, and investors buying up quality growth companies at cheap prices will likely reap the rewards in the future.

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

The post Your portfolio vs a bear market: How to come out on top appeared first on The Motley Fool Australia.

(function() { function setButtonColorDefaults(param, property, defaultValue) { if( !param || !param.includes(‘#’)) { var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0]; button.style[property] = defaultValue; } } setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’); setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’); setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’); })()

More reading

• Why is the Nanosonics share price sinking?
• South32 share price higher on solid Q4 update
• Flight Centre share price storms 5% higher on guidance upgrade
• Tesla Q2 earnings call: 3 must-see quotes from Elon Musk
• Genex share price in focus amid Atlassian co-founder’s $300m takeover bid

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.

from The Motley Fool Australia https://ift.tt/od612zU