Category: Stock Market

The Telstra Corporation Ltd (ASX: TLS) share price is up 4% at the time of writing after delivering its FY21 result to the market.

Telstra said that on a reported basis, total income decreased by 11.6% to $23.1 billion and net profit grew 3.4% to $1.9 billion.

On a guidance basis, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) fell 9.7% to $6.7 billion. That included an in-year NBN headwind of around $650 million and an estimated $380 million financial impact from COVID-19. Excluding the in-year NBN headwind, underlying EBITDA in FY21 dropped $70 million.

But FY22 has already started and it has provided guidance. The guidance can have an impact on the Telstra share price.

What is Telstra expecting in FY22?

Telstra said that its guidance shows the underlying business returning to full year growth.

Total income is expected to be in a range of $21.6 billion to $23.6 billion in the new financial year.

Underlying EBITDA is expected to be in a range of $7 billion to $7.3 billion (compared to $6.7 billion in FY21).

The telco is expecting to spend $2.8 billion to $3 billion on capital expenditure. Free cashflow after lease payments is expected to be between $3.5 billion to $3.9 billion.

One of the key ways that Telstra is looking to help its profit and the Telstra share price is its T22 strategy.

Asset sales were part of the plan, with Telstra monetising its InfraCo Towers business by selling a 49% stake. It’s returning half of the net proceeds with a $1.35 billion to shareholders with a share buyback.

Under the T22 strategy, it is driving productivity. Total operating expenses dropped 10.2% in FY21. Underlying fixed costs declined $490 million, or 8.1%, during FY21. Since FY16, the company has achieved around $2.3 billion of net productivity and remains on track to meet its target of $2.7 billion by the end of FY22.

The company has reduced its number of roles by 8,300 net full time roles, meeting the T22 commitment one year early and also reducing 17,400 indirect roles and removing on average more than four management layers.

Telstra’s focus

The company has a number of initiatives that could help the Telstra share price and profit.

In an interview with the Australian Financial Review, the Telstra CEO Andrew Penn said:

I’d say three things – one is that it’s absolutely front and centre about continuing to transform customer experience and just taking that to the next level.

Secondly, it’s about growth, both within the core but also some of our new business investments are really starting to help to get some traction.

Obviously, we’re going to be launching energy, sort of imminently. And then it’s also about building on all of the capabilities and the foundations that we’ve laid in T22.

Mr Penn also reference the telco’s recent acquisition of MedicalDirector for $350 million. This business currently supports around 23,000 medical practitioners and is used to deliver more than 80 million medical consultations a year. It is a GP clinical and practice management software company.

Mr Penn also said:

What we’re trying to do is we are focused on very much digitising and connecting different parts of the healthcare system.

You would appreciate the healthcare system is highly fragmented, and it isn’t as efficient as it could be – it could be much more digitally enabled.

The post What’s the outlook for the Telstra (ASX:TLS) share price? appeared first on The Motley Fool Australia.

More reading

• CBA’s bumper profit, IAG’s loss and Telstra expectations. Scott Phillips on Nine’s Late News
• The Telstra (ASX:TLS) share price is driving 4% higher on Thursday
• ASX 200 midday update: Telstra, NAB, & QBE results
• Telstra (ASX:TLS) share price lifts off after dividend announcement
• Everything to know about the Telstra (ASX:TLS) $1.35bn share buyback

Motley Fool contributor Tristan Harrison 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 owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Perhaps the S&P/ASX 200 Index (ASX: XJO) share making the biggest splash with its FY2021 earnings report this week has been Commonwealth Bank of Australia (ASX: CBA). The CBA share price surged to a new record high above $108 a share on Monday following the release of its FY21 numbers.

That record high was extended just this morning, with CBA topping Monday’s high after hitting $108.92 a share just after market open.

CBA shares closed at $103.41 last Friday. Because of this, we can say with tentative certaincy that this earnings report is largely behind this big push upwards.

One of Monday’s centrepiece announcements from CBA was the initiation of a ~$6 billion share buyback program. Investors will also be receiving a final dividend of $2 a share next month. That will be a 33.3% increase on CBA’s last interim dividend.

But for the buybacks, CBA shareholders can also now look forward to having their ownership stake in the company increased as CBA retires existing shares from the market.

But just how much is this share buyback program worth to investors? And how can CBA shareholders extract the maximum benefit?

CBA share price rises on $6 billion share buyback

As my Fool colleague James covered well this morning, CBA’s share buyback program will result in the retirement of approximately 3.5% of all CBA shares outstanding.

So how exactly will this benefit investors today?

Well, firstly, it’s worth noting how a buyback actually benefits all investors. A company’s number of shares is fairly static. As such, reducing the total share count decreases the supply of available shares. This means that the real ownership stakes of all CBA shareholders increase.

This is due to the fact that each shareholder now owns a proportionately larger stake in the company. Share buybacks also usually result in higher share prices due to the simple laws of supply and demand (less supply means higher pricing).

Digging further though, and it seems this CBA buyback might benefit some shareholders more than others. Particularly those who are tax-exempt. An article from Livewire Markets broke down this dividend, and it makes for some interesting reading.

Commonwealth Bank buyback delivers disporportionate benefits

So according to livewire, CBA’s share buyback (which is available to all existing shareholders) will consist of a capital return of $21.66 per share. The remaining balance for each share will consist of a fully-franked dividend. A franking credit of $29.99 per share will be attached.

Here’s how the article explained the benefit:

For a tax-exempt Australian investor, we estimate the buy-back at a 14% discount would be worth approximately $121.63 (disregarding the time value of money), representing about $15.07 or 14% more than the market price of Commonwealth Bank today…

The value of the buy-back for other investors will depend on the tax situation of each investor. At current prices, we would expect the buyback to be of marginal value for 15% tax rate Australian investors.

So there you have it. The way this share buyback is structured could certainly give some outsized benefits to some investors out there. But don’t worry if that doesn’t apply to you. As we discussed earlier, a buyback substantially benefits existing shareholders too.

The post How to make the most of the CBA (ASX:CBA) share buyback appeared first on The Motley Fool Australia.

More reading

• CBA’s bumper profit, IAG’s loss and Telstra expectations. Scott Phillips on Nine’s Late News
• Why AGL, Appen, CBA, & Rio Tinto shares are tumbling lower
• Brokers give their verdict on the CBA (ASX:CBA) share price
• Top brokers name 3 ASX shares to sell today
• What impact has BNPL giant Klarna had on the CBA (ASX:CBA) share price?

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 Bruce Jackson.

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The Qantas Airways Limited (ASX: QAN) share price is moving higher today. And now, you too can take off (or at least pretend to) with the airline’s new virtual offerings.

Qantas has released a range of Zoom (NASDAQ: ZM) backgrounds and inflight playlists for travellers whiling their days away on video calls and wishing they were on holidays.

The Qantas share price is gaining 0.33% amid the virtual accessories’ launch today. Shares in the airline are currently swapping hands for $4.51 apiece.

Let’s take a closer look at the goodies Qantas released today.

The next best thing

The Qantas share price is in the green today, and many of its former flyers, particularly those suffering through COVID-19 lockdowns, might be pretending to be in the air.  

Qantas has just released a series of “aviation-themed” backgrounds for use in Zoom meetings.

The airline says the backgrounds will allow Australians to “conduct their meetings from the comfort of their business class seat, sitting behind the pilots in the cockpit jump seat, or from one of the Qantas luxury lounges”.

Motley Fool Australia readers can take a look at the now-nostalgic images here.

If those aren’t quite enough to make you feel like you’re 35,000 feet in the air, Qantas has also launched playlists decked out with its signature inflight tunes on Spotify and Apple Music.

And in case you need more to quell the need for a holiday, wanderlusting travellers can pop on this YouTube video the airline has put together.

The video showcases music by Australian composer Haydn Walker and guitarist Nathan Cavaleri, and features footage of iconic Australian landscapes from the air.

While the offerings are most likely not boosting the airline’s share price today, Qantas group chief customer officer Stephanie Tully said they’re a fun way to reminisce on precedented times:  

Our customers tell us they miss flying as much as getting to the destination itself and this sensory experience will help fill the temporary void while some of us can’t fly because of border closures.

Qantas share price snapshot

The Qantas share price is still in the red, despite today’s uptick.

It has fallen about 8% since the start of 2021. However, it has gained 25% since this time last year.

The post Qantas (ASX:QAN) share price gains amid virtual travel pack appeared first on The Motley Fool Australia.

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• Qantas (ASX:QAN) share price lifts amid frequent flyer update
• All eyes on Qantas (ASX:QAN) shares this reporting season
• Why is the Flight Centre (ASX:FLT) share price slipping 2% today?
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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 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 Bruce Jackson.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Wednesday night to discuss the Commonwealth Bank of Australia (ASX: CBA)’s bumper profit growth, Insurance Australia Group Ltd (ASX: IAG)’s insurance challenges and what investors can expect from Telstra Corporation Ltd (ASX: TLS) earnings on Thursday.

The post CBA’s bumper profit, IAG’s loss and Telstra expectations. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

More reading

• Why AGL, Appen, CBA, & Rio Tinto shares are tumbling lower
• Brokers give their verdict on the CBA (ASX:CBA) share price
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• ASX 200 midday update: Telstra, NAB, & QBE results

Motley Fool contributor Scott Phillips owns shares of Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Insurance Australia Group Limited and Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is having a mixed time. At the time of writing, the benchmark index is trading slightly lower at 7,581.6 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:

AGL Energy Limited (ASX: AGL)

The AGL share price is down 5% to $7.20 following the release of its full year results. For the 12 months ended 30 June, the energy company reported a 10% decline in revenue to $10.9 billion and a 33.5% reduction in underlying profits to $537 million. This led to AGL cutting its dividend by 23.5% to 75 cents per share.

Appen Ltd (ASX: APX)

The Appen share price has fallen almost 5% to $11.76. This morning the artificial intelligence data services company announced the exit of its chairman. Current chairman, Chris Vonwiller, will be retiring from the role on 28 October. Mr Vonwiller has held the title of chair for a period of 12 years and was also CEO from 1999 to 2010.

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price has dropped 2.5% to $105.50. This appears to have been driven by a couple of bearish broker notes. Citi has downgraded CBA’s shares to a sell rating and cut the price target on them to $94.50. Whereas Credit Suisse has downgraded its shares to an underperform rating with a $95.00 price target. Both brokers have reduced their near term earnings estimates to reflect higher costs.

Rio Tinto Limited (ASX: RIO)

The Rio Tinto share price has tumbled 7% to $120.32. This decline is almost entirely attributable to the mining giant’s shares trading ex-dividend this morning. Rio Tinto is paying its shareholders fully franked dividends totalling 760.06 cents per share. This comprises an interim dividend of 509.42 cents per share and a special dividend of 250.64 cents per share.

The post Why AGL, Appen, CBA, & Rio Tinto shares are tumbling lower appeared first on The Motley Fool Australia.

More reading

• The AGL share price is falling 5% lower this afternoon
• Brokers give their verdict on the CBA (ASX:CBA) share price
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• Top brokers name 3 ASX shares to sell today
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Charger Metals NL (ASX: CHR) share price is continuing its impressive run since last week. In just 6 trading days, the lithium-focused minerals company has gained an astonishing 142% for investors.

At the time of writing, Charger Metals shares are up 28.95% to 73.5 cents. When you compare that to the All Ordinaries Index (ASX: XAO), the All Ords is just flat at 7,857 points.

What’s driving the Charger Metals share price higher?

While no news came out of the company today, investors may be wondering what’s causing its shares to power ahead.

Before market open yesterday, Charger Metals released a statement to the ASX providing an update on its Bynoe Lithium Project.

The company advised that exploration activities have commenced, with field crews mobilised to expand mapping and geochemical sampling. So far, 14 pegmatite anomalies have been identified within a 5-kilometre-long zone from existing geochemistry results.

It’s worth noting that 50% of the tenement has not yet been geochemically sampled. At the end of August, a detailed aeromagnetic survey will be flown to provide more clarity on the spodumene deposits.

Charger Metals managing director, David Crook said:

Charger Metal’s programmes of mapping, geochemistry and aero-magnetics now underway at the Bynoe Lithium Project are designed to refine the 5-kilometre-long cluster of lithium targets to a point where a substantial drilling programme can be planned.

Quick take on Charger Metals

Founded in 2020, Charger Metals is an Australian-based minerals company that operates in Western Australia and the Northern Territory.

The company owns a 70% interest in the Bynoe Lithium Project, with the remaining 30% held by Lithium Australia NL (ASX: LIT). The site is located within the Bynoe Pegmatite Field forming part of the much larger Litchfield Pegmatite Belt in Northern Territory.

Charger Metals also has majority interests in the Coates Project and the Lake Johnston Lithium and Gold Project, both in Western Australia.

Since listing on the ASX boards on 9 July, the Charger share price has gained almost 270%. In the past month alone, the company’s shares are up 240%.

The post Charger Metals (ASX:CHR) share price is powering 28% today, up 240% in a month appeared first on The Motley Fool Australia.

More reading

• Here’s why the Charger Metals (ASX:CHR) share price has surged 100% in a week

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 Bruce Jackson.

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The BlueScope Steel Limited (ASX: BSL) share price continues its hot run into the money after setting a new 52-week high in afternoon trading.

As a result, BlueScope steel shares set their new 52-week high today, topping previous highs in July and back in May.

There is no market sensitive information released today. Nonetheless, let’s capture the tailwinds behind the BlueScope Steel share price of late.

What has BlueScope been up to lately?

BlueScope released its preliminary unaudited results on 27 July for the second half of FY21. In it, the steel producer expects a record result for the period to 30 June 2021.

As a result, it upgraded its earnings before interest and tax (EBIT) forecast to $1.19 billion for the second half and $1.72 billion for FY21.

Moreover, BlueScope’s Australian steel products (ASP) arm “delivered substantially better results”, by growing approximately 60% this year to date.

Accordingly, sales volumes reached a total of 1.3 million tonnes at ASP, which is the highest level since 2008.

In addition, investor sentiment has been positive for the BlueScope Steel share price over the last few months.

To illustrate, BlueScope shares hit their previous record high on 27 July, after a run of bullish momentum.

Further, whereas the S&P/ASX 200 Index (ASX: XJO) has posted a return of around 4.3% over the past month, BlueScope shares have climbed a further 16.5% into the green over this time.

Given this trot up north on the charts, it stands to reason that the current investor sentiment on BlueScope shares is bullish. Another point to consider is, that BlueScope shares are now trading in an uptrend that started in March 2020.

BlueScope Steel share price snapshot

The BlueScope Steel share price has posted a return of 42% over the year to date, extending the previous 12 month’s climb of 100%.

These returns have outpaced the broad index’s gain of around 25% over the past year. At the time of writing, BlueScope has a market capitalisation of $12.2 billion.

The post Why the BlueScope Steel (ASX:BSL) share price hit a 52-week high today appeared first on The Motley Fool Australia.

More reading

• Why the BlueScope Steel (ASX:BSL) share price is up 8% in a week
• Oz Minerals, Bluescope and Temple & Webster share prices surge. Scott Phillips on Nine’s Late News
• ASX 200 rises, Temple & Webster surges, Japara soars
• Why BlueScope, Japara, OZ Minerals, & Temple & Webster are storming higher
• ASX 200 midday update: BlueScope & OZ Minerals updates impress

The author Zach Bristow has no positions 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 Bruce Jackson.

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The Macquarie Group Ltd (ASX: MQG) share price is setting new records on Thursday as the $60.28 billion banking beast notches up a new all-time high.

At the time of writing, shares in the company are trading for $163.40, up 2.15%. However, the newly minted all-time high of $163.65 was set earlier in the session.

What’s been happening with Macquarie?

While the other banks are reporting earnings, Macquarie dished out its full-year results back in May. For a quick recap, the investment-focused bank delivered a 4% increase in net operating income year-over-year to $12,774 million. Pleasingly, earnings per share (EPS) grew by 7% to $8.43 per share compared to the prior year.

According to the company’s investor relations page, the next item on the financial calendar is Macquarie’s FY22 half-year results on 29 October 2021. That’s a while away yet… so, what is closer to the present to explain the recent push in the Macquarie share price?

Firstly, the investment bank’s latest bank capital note offering (BCN3) opened to investors yesterday. This will be an exchange-tradeable unsecured debt offering from Macquarie used to raise $500 million. The bank wants to use these funds as a buffer to protect senior creditors against losses. Additionally, the net proceeds of the offer will be used for general corporate purposes.

A positive for Macquarie is the payout for this debt instrument has been set relatively low at 2.9% per annum. As a result, the funds from this sure-up the investment bank’s balance sheet at a reasonably low cost.

Positive rating on Macquare share price

Another positive for the Macquarie share price is broker sentiment. As my Foolish colleague James covered last week, the analysts over at Morgans find the investment bank appealing.

The leading broker is attracted to Macquarie’s potential backed by exposure to infrastructure and renewables. Lastly, Morgans analysts have an ‘add’ rating and a $172.30 price target on the Macquarie share price.

The post The Macquarie (ASX:MQG) share price is up 5% in a week. Here’s why appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to sell today
• If you invested $1,000 in Macquarie (ASX:MQG) shares a decade ago, here’s what it would be worth now
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Motley Fool contributor Mitchell Lawler owns shares of Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The AGL Energy Limited (ASX: AGL) share price is not having a fun day today. At the time of writing, AGL shares are down a nasty 5.26% to $7.20 a share.

We don’t have to look too far to see why this is happening today either. This share price move appears to be a clear reaction to the FY2021 earnings report AGL delivered to its investors this morning.

AGL share price tanks on FY2021 earnings report

As we covered extensively on the Fool this morning, AGL’s earnings report delivered some pretty sobering numbers. The company reported that revenues were down by 10% on the prior corresponding period to $10.9 billion over FY21. That resulted in the company’s underlying profits falling 33.5% to $537 million, and earnings per share (EPS) falling 31.6% to 86.2 cents.

Even AGL’s hefty dividend went backwards. The company will be paying a full-year dividend of 75 cents per share for FY21, down 23.5% from the previous year’s payout. Management blamed lower wholesale electricity prices and reduced generation output as the primary drivers of these results.

Even so, investors have evidently voiced their displeasure through the fall in AGL’s share price today. At the current price of $7.25 a share, the company is presently trading at levels we last saw way back in 2004. The company has now lost more than 40% of its value in 2021 so far, and more than 57% over the past 12 months.

Of course, the next major event shareholders have to look forward to is the upcoming company split that AGL expects will be completed by the last quarter of FY2022. This will result in a new company called Accel Energy owning AGL’s generation assets, while the ‘new AGL’ will house the company’s retail business.

At the current AGL share price, the company has a market capitalisation of $4.51 billion, and a dividend yield of 10.36%.

The post The AGL share price is falling 5% lower this afternoon appeared first on The Motley Fool Australia.

More reading

• Who are the biggest movers on the ASX 300 this Thursday?
• AGL (ASX:AGL) dividend slashed. Share price down 3% on Thursday
• AGL (ASX:AGL) share price on watch following FY21 earnings
• 5 things to watch on the ASX 200 on Thursday
• How did the AGL (ASX:AGL) share price perform last earnings season?

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 Bruce Jackson.

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The Commonwealth Bank of Australia (ASX: CBA) share price has run out of steam and is trading lower on Thursday.

In afternoon trade, the banking giant’s shares are down 2.5% to $105.43.

Why is the CBA share price under pressure?

The weakness in the CBA share price on Thursday is likely to have been driven by the release of a couple of bearish broker notes this morning.

In response to the bank’s full year results, both Citi and Credit Suisse downgraded the company’s shares to the equivalent of sell ratings.

Citi has downgraded CBA’s shares to a sell rating and cut the price target on them to $94.50. Whereas Credit Suisse has downgraded its shares to an underperform rating with a $95.00 price target.

Both brokers have reduced their near term earnings estimates to reflect higher costs.

Is anyone bullish?

One leading broker that remains positive is Bell Potter. This morning the broker upgraded the bank’s shares to a buy rating with an improved price target of $118.00.

Based on the current CBA share price, this implies potential upside of 12% over the next 12 months.

Bell Potter commented: “The main changes to our cash NPAT (continuing) projections relate to higher noninterest income (mainly higher card fees, fee waivers and removal of wealth contributions) as well as a still lower LIE charge in FY22 and beyond.”

“Given these, cash NPAT is now 2% higher in FY22, FY23 and FY24. We have also matched the statutory and cash dividend payout ratios as follows: FY22 75%; FY23 75%; and FY24 75%. As a result, we have increased the valuation and price target by $13.00 to $118.00 per share and this includes adding the value impact of higher excess CET1 capital. CBA’s target share price has done well in the past three months and up by more than 25% in absolute terms. The rating is now back to a Buy,” it added.

The post Brokers give their verdict on the CBA (ASX:CBA) share price appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell today
• What impact has BNPL giant Klarna had on the CBA (ASX:CBA) share price?
• ASX 200 rises, CBA climbs after FY21 report, Iress jumps
• The ASX reporting wrap-up: CBA, Mineral Resources, IAG
• CBA (ASX:CBA) share buyback ahead of forecast: broker

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 Bruce Jackson.

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