Category: Stock Market

Woodside Energy Group Ltd (ASX: WDS) shares are trading in the red again on Wednesday. At the time of writing the shares are down 1.77% for the day, to $23.56 a piece.

It’s been a rocky year for the Australian petroleum exploration and production company, with its shares fluctuating between $27.30 and $18.61. Over the past month, the shares are 10.97% lower and for the year-to-date they’re down 5.61%. 

Dwindling oil prices dampened Woodside’s performance potential throughout most of the year, but the company’s share price pushed higher on the back of a steep uptick in the crude oil price in late October. It climbed nearly-20% over a 4-week period.

Today’s share price slump is likely due to a sharp overnight decline of global oil prices. 

The Brent crude oil is trading at near five-year lows, down 2.7% overnight to US$58.92 per barrel. West Texas Intermediate (WTI) oil is trading at its lowest levels since February 2021, at around US$55.27 per barrel.

What about Woodside’s plan for 2026?

In October, the company reported a 3% increase in quarterly revenue to $3.359 billion and a 1% rise in production to 50.8 MMboe, highlighted by strong performances from its Sangomar and Pluto LNG assets.

It also upgraded its full-year production guidance to 192–197 MMboe, progressing key projects like Scarborough and Beaumont New Ammonia, and completed a significant asset sale worth A$259 million.

In 2026, Woodside plans to progress its pipeline of global projects, with the Scarborough and Trion energy projects advancing on schedule. The company is focused on delivering first LNG from Scarborough in 2026 and first ammonia from Beaumont later in 2025.

What next for Woodside shares?

Analysts seem to be relatively optimistic about the outlook for Woodside shares over the next 12 months. 

TradingView data shows that 7 out of 15 analysts have a buy or strong buy rating on the shares. The remaining 8 have a hold rating. The maximum target price is $33.44, which represents a potential 42.33% upside for investors over the next 12 months. With potential upside like that, I wouldn’t be selling up Woodside shares anytime soon.

Morgans has a buy rating on Woodside with a share price target of $30.50. The broker said the oil producer’s Scarborough, Sangomar and Trion sites are all tracking on time and budget. 

Last month, Fairmont Equities’ Michael Gable said he thinks Woodside shares are at, or close to, the bottom. He added that he is seeing signs of it starting to move higher again. Although the broker currently has a hold rating on the shares.

The post Should I sell my Woodside shares in 2026? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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.

Many of Australia’s top brokers have been busy adjusting their financial models and recommendations again. This has led to the release of a number of broker notes this week.

Three ASX shares that brokers have named as buys this week are listed below. Here’s why their analysts are feeling bullish on them right now:

Electro Optic Systems Holdings Ltd (ASX: EOS)

According to a note out of Bell Potter, its analysts have retained their buy rating on this defence and space company’s shares with an improved price target of $9.00. This follows news that Electro Optic Systems has signed an agreement worth US$80 million with a customer in Korea. This will see the company manufacture and sell a 100kW High Energy Laser Weapon (HELW). The broker believes that current competitive dynamics in the HELW industry are favourable for Electro Optic Systems. It notes that US companies are unable to export directed energy technology, the UK offers a lower power (30kW) weapon, and Israel’s Iron Beam system lacks clarity on export restrictions. The Electro Optic Systems share price is trading at $7.54 on Wednesday.

Flight Centre Travel Group Ltd (ASX: FLT)

A note out of Morgans reveals that its analysts have retained their buy rating on this travel agent’s shares with an improved price target of $18.38. Morgans was pleased with the company’s decision to acquire Iglu and sees it as a strategically sound acquisition for its Leisure business unit. Especially given the cruise sector is a high growth and high margin segment within the travel industry. Morgans also feels that Flight Centre’s strong balance sheet can comfortably fund this acquisition and its capital management strategy. Overall, it has upgraded its forecasts to reflect the acquisition and boosted its valuation accordingly. The Flight Centre share price is fetching $15.06 at the time of writing.

Zip Co Ltd (ASX: ZIP)

Analysts at Macquarie have retained their outperform rating and $4.85 price target on this buy now pay later provider’s shares. According to the note, the broker believes that Zip will deliver on its net transaction margin guidance despite elevating loss rates caused by its accelerating total transaction value (TTV) growth. Outside this, it is forecasting Zip to continue to deliver rapid growth supported by increased product adoption, expansion of merchant network, increased customer engagement, and digital product innovation. The Zip share price is trading at $3.03 on Wednesday afternoon.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

More reading

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• Guess which ASX 300 defence stock has already rocketed 51% this week (Hint, not DroneShield)

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

Sentiment around base metals miners has “prevaricated” in recent times according to the research team at Bell Potter, however they’ve dug up two companies which they believe represent good buying at current levels.

Base metals have for much of the year played second fiddle to hot stocks in the resources sector such as rare earths, lithium and gold, with Bell Potter saying the market has been impacted by “the potential impact (or not) of global trade tariffs on economic growth and hence metal consumption”.

There is one metal about which analysts agree, however, as Bell Potter says:

In respect to copper, we remain cognisant of a tight supply-demand balance in the copper market and the sector’s capacity to provide a supply response in the face of significantly stronger forecast demand. This is predicated on copper’s base industrial demand with growth coming from exposure to the renewable energy/ electrification theme, electric vehicle uptake and new demand sources such as from data centres and AI. In our view, any opportunity to add production exposure amidst weak sentiment is an excellent buying opportunity.

Copper stock to watch

On the ASX, which is not short of copper exposure, the team at Bell Potter have singled out Aeris Resources Ltd (ASX: AIS) as a company worth looking at.

As they say:

Aeris Resources represents a copper dominant mining exposure whose primary assets are the Tritton Copper Operations in NSW and the Cracow Gold Mine in Queensland. Its near-term outlook is highly leveraged to rising copper grades and production at the Tritton copper mine.

This is underpinned by the company’s plans to ramp up open pit mining in 2026, Bell Potter says, which they expect will drive margin expansion “into a rising copper price”.

Bell Potter has a price target of 65 cents on Aeris shares compared with 52 cents currently, with Aeris valued at $586.1 million overall.

In other base metals the Bell Potter team like Nickel Industries Ltd (ASX: NIC).

As they said:

Nickel Industries operations are located in Indonesia and are long-life, bottom-of-the-cost-curve projects. In 1HCY26 we anticipate the delivery of major positive growth catalysts. These include ore production ramp up to a 19Mtpa run-rate (pending permits) at the Hengjaya Mine and the commissioning of the ENC HPAL project for ramp-up to full production of +70ktpa in1HCY26.

The analyst team expect these developments to increase production, margins and earnings for the company.

Bell Potter has a price target of $1.20 on Nickel Industries shares compared with 74.2 cents currently.

The post Bell Potter names two base metals companies which are worth a look appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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.

The DroneShield Ltd (ASX: DRO) share price is getting clobbered today.

Shares in the S&P/ASX 200 Index (ASX: XJO) drone defence company closed yesterday trading for $2.81. In early afternoon trade on Wednesday, shares are changing hands for $2.46 apiece, down 12.5%.

For some context, the ASX 200 is down 0.1% at this same time.

Here’s what’s happening.

Why is the DroneShield share price getting hit today?

If you own DroneShield stock this week, you’d do well to take a Dramamine to help settle the motion sickness.

Here’s what I mean.

On Monday, the ASX 200 defence stock closed up 10.6% even as the ASX 200 sank 0.7%.

Then yesterday, the DroneShield share price closed up a whopping 22.2%, again flying against the 0.4% retreat in the ASX 200.

That put the share price up 35.1% in just two days.

With no fresh price-sensitive news out from the company that would be likely to stir investor angst, today’s sharp sell-down then looks to be driven by some healthy profit-taking.

Why did investors pile into the ASX 200 drone defence stock on Tuesday?

The huge uptick in the DroneShield share price on Tuesday followed the announcement of a new contract with a European military customer.

The company expects all deliveries and payments for the $49.6 million contract to be finalised in the first quarter of calendar year 2026.

The unnamed customer was said to be a longstanding European reseller for a military end-customer who is buying handheld counter drone systems, alongside the associated accessories and software updates.

And investors reacted favourably to news that a large part of that contract order is ready to ship. Management noted that this will allow the company to make the delivery early next year and help boost DroneShield’s cash flow.

What else has been impacting the DroneShield share price?

Despite today’s fall, the DroneShield share price remains up an impressive 304.1% since this time last year.

But things might have gone even better for stockholders, if not for early November’s big share sale by a number of the company’s top executives, crucially including CEO Oleg Vornik.

Between 6 November and 12 November, Vornik sold 14.81 million shares in the company he spearheads. Those share sales netted Vornik a very tidy $49.47 million.

When that news hit the wires on 13 November, ASX investors were quick to join in with the selling.

By the time the smoke cleared, the DroneShield share price had crashed 31.4% on the day.

Like I said up top, a little Dramamine may not be out of order for longer-term stockholders.

The post Why is the DroneShield share price crashing 13% on Wednesday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. 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.

With 2026 fast approaching, we look at three S&P/ASX 200 Index (ASX: XJO) shares analysts believe could struggle to deliver market beating turns over the coming months (courtesy of The Bull).

So, without further ado…

2 ASX 200 shares facing potential headwinds

First up we have Lendlease Group (ASX: LLC).

Lendlease shares are down 0.7% during the Wednesday lunch hour, changing hands for $5.00 apiece.

This sees the Lendlease share price down 22.9% over 12 months. Losses that will have been only partly ameliorated by the stock’s partly franked 4.6% dividend yield.

And looking ahead, DP Wealth Advisory’s Andrew Wielandt expects Lendlease could continue to struggle in the near term.

“Lend Lease is a property developer and investment manager. The company is focusing on growing its Australian operations,” said Wielandt, who has a sell recommendation on the ASX 200 share.

Wielandt explained:

The company has reduced debt and risk by divesting overseas projects and operations. However, in our view, this may lead to fewer development opportunities as it has less capital to recycle.

The company expects fiscal year 2026 to be one of transition. The shares have fallen from $6.77 on February 17 to trade at $5.125 on December 11. We prefer to be on the sidelines at this point, while monitoring developments.

Wielandt also recommends selling Bapcor Ltd (ASX: BAP) shares.

Bapcor shares are up 3.1% today, trading for $1.76 each. Despite that welcome lift, the Bapcor share price remains down 61.8% since this time last year. The stock also trades on a fully franked 7.7% dividend yield.

“Bapcor is an aftermarket automotive parts provider. It operates the Autobarn, Burson and Autopro brands,” said Wielandt.

As for his sell recommendation on the ASX 200 share he noted:

Shares recently hit a 12-month low after the company downgraded profit guidance. Bapcor expects to deliver a statutory net loss of between $5 million and $8 million in the first half of fiscal year 2026.

Performance in the trade segment was below expectations in October and November. Revenue declined in tools and equipment when compared to the prior corresponding period. The shares have fallen from $5.11 on July 23 to trade at $1.792 on December 11.

Wielandt concluded, “We retain a sell recommendation until there is clear evidence of an operational recovery.”

Which brings us to…

Time to take profits on this surging Aussie miner?

Alto Capital’s Tony Locantro believes investors would do well to take profits on Mineral Resources Ltd (ASX: MIN) shares.

“MIN is a diversified resources company, with extensive operations in lithium, iron ore, energy and mining services across Western Australia,” Locantro explained.

Shares in the lithium miner and diversified resources producer are up 3.8% today, changing hands for $52.49 apiece. That sees the Mineral Resources share price up 51.3% in 12 months. And investors who bought at the recent lows on 9 April will be sitting on eye-watering gains of 261% today.

Locantro noted:

The company delivered strong operational results in the first quarter of 2026, which included record iron ore output from Onslow Iron, triggering a $200 million payment. MIN’s joint venture lithium terms with POSCO Holdings will realise it an upfront payment of $A1.2 billion for part of MIN’s lithium business.

But with the ASX 200 share having rocketed higher over the past eight months, Locantro thinks further near-term gains appear limited.

He concluded:

MIN’S shares have risen from $14.40 on April 9 to trade at $51.90 on December 11. With most of the upside seemingly priced in and commodity cycles still volatile, it may be prudent to cash in some gains made on the strong share price recovery.

The post Alert! Analysts name 3 ASX 200 shares to sell today appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Telstra Group Ltd (ASX: TLS) shares are capturing a lot of attention this week. 

At the time of writing, on Wednesday lunchtime trade, the shares are down 0.62% to $4.78 a piece. Today’s decline means the shares have now fallen 6.4% from an all-time high of $5.10 in mid-November.

For the year to date, Telstra shares are 18.61% higher.

Why is Telstra in the spotlight this week?

In August, Telstra announced a $1 billion on-market buyback following a previous $750 million buyback that was completed in June 2025. The company said it would be executed over time in the ordinary course of trading. 

Telstra has undertaken the on-market buyback, where it has been actively repurchasing its own shares on-market, over the past couple of weeks. This might explain the latest share price softening. Updates on the buyback programme have been closely watched by investors.

In a note to the ASX this morning, the company announced it has ceased over 35 million ordinary shares via on-market buybacks. Telstra said the securities bought back between 24 November 2025 and 12 December 2025 were progressively cancelled up to and including 16 December 2025.

Meanwhile, Telstra has also been in the headlines this week amid continued political and regulatory scrutiny. The telecoms provider has been in the spotlight recently amid concerns about its emergency calling reliability. 

A Senate inquiry is reportedly examining cases where Triple Zero calls may have failed, including situations linked to older devices and network/handset software interactions. 

What’s next for Telstra shares?

As a defensive stock, Telstra tends to perform steadily, regardless of the stage of the economic cycle. And this is great news for investors who want to hedge against potential volatility elsewhere. 

The company’s financial performance has been robust this past year. Its first-half FY25 results, announced in February, showed strong earnings growth across almost all of its products, improved operating profit, higher returns for shareholders, and plans to enhance its network coverage.

The telco giant’s full-year results, released in August, also showed stronger underlying growth and financial performance. At the time, Telstra also said it expected its year-on-year growth to continue. 

Analysts are also optimistic that the growth of the red-hot telco will continue in 2025.

TradingView data shows that out of 9 analysts, 4 have a buy or strong buy rating on the stock. Another 5 have a hold rating on Telstra shares. Analysts expect the share price could rise as high as $5.40, which implies a potential 12.97% upside for investors at the time of writing.

The team at Macquarie have an outperform rating and $5.04 price target on Telstra’s shares. They said that as Australia’s largest telecommunications provider, it benefits from nationwide mobile demand, essential network usage, and growing data consumption.

The post Why is everyone talking about Telstra shares this week? appeared first on The Motley Fool Australia.

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

The Dexus (ASX: DXS) share price is back on investors’ radars today after the company released two updates late this morning. Currently, the property company’s shares are up 0.57% to $6.98.

Both announcements provide insight into the health of the property portfolio and the timing of the next distribution.

Taken together, the updates provide a useful snapshot of the business’ current position as 2025 draws to a close, offering investors a clearer view of what to expect heading into the new year.

Property values show early signs of stabilising

Dexus confirmed that 174 of its 175 assets have now been externally valued as at 31 December 2025. The draft valuations point to a modest uplift of around $83 million, or roughly 0.7%, across its stabilised and development portfolio over the past six months.

While the increase is modest, it stands out given the higher interest rate environment and ongoing pressure across the property sector.

The office portfolio recorded a lift of about 0.4%, while industrial assets increased by roughly 1.4%, driven mainly by rental growth. Capitalisation rates edged slightly higher in offices, while industrial cap rates tightened modestly.

This suggests that valuation pressure may be easing, particularly for higher-quality assets in stronger locations.

Dexus CEO Ross Du Vernet said it was encouraging to see a second straight half-year of valuation growth, adding that quality properties continue to outperform the broader market.

Distribution details confirmed

Alongside the valuation update, Dexus also confirmed an estimated distribution of 19.3 cents per security for the six months to 31 December 2025.

The key dates investors will want to note are:

• Ex-distribution date: 30 December 2025
• Record date: 31 December 2025
• Payment date: 27 February 2026

The final distribution amount will be confirmed when Dexus releases its HY26 results on 18 February 2026, but this gives income investors a clear timeline.

Why this matters for investors

For a REIT like Dexus, stability is important. After a tough period for property valuations across the sector, signs that values are flattening out, or even ticking higher, are important.

It also helps that Dexus has been actively managing its balance sheet, raising capital where needed, and maintaining flexibility. Combined with steady distributions, that positions the group reasonably well as conditions slowly improve.

At the current share price, investors are still being paid to wait, while watching for further signs that the property cycle is turning.

Foolish Takeaway

Today’s updates are unlikely to prompt a strong market reaction, but they do suggest Dexus is moving in the right direction. Valuations appear to be stabilising, industrial assets are holding up well, and income remains intact.

For long-term investors who prioritise steady cash flow and gradual recovery over quick wins, Dexus remains a REIT worth keeping on the radar as we head into 2026.

The post Dexus shares lift after property update and dividend news appeared first on The Motley Fool Australia.

More reading

• Dexus declares interim dividend for December 2025 half-year
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is out of form again on Wednesday. In afternoon trade, the benchmark index is down 0.15% to 8,586.8 points.

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

Cedar Woods Properties Ltd (ASX: CWP)

The Cedar Woods share price is up 10% to $8.81. Investors have been buying the property developer’s shares after it upgraded its guidance for FY 2026 again. After upgrading its profit growth guidance to 15% (from 10%) in October, Cedar Woods has now lifted its guidance to at least 20% growth for FY 2026. It said: “Supply shortfalls, low unemployment and government support for homebuyers continue to provide tailwinds for the sector. Recent commentary around interest rates is not currently deterring buyers, with the national housing supply shortfall expected to continue to support sales volumes and pricing.”

Humm Group Ltd (ASX: HUM)

The Humm share price is up 11% to 73.5 cents. This follows news that debt collector Credit Corp Group Ltd (ASX: CCP) has made an offer to acquire the commercial lender. Credit Corp said: “Credit Corp confirms that it submitted a confidential, conditional, non-binding indicative proposal on 19 November 2025 seeking access to due diligence information, which has not yet been provided.” Investors appear to believe this won’t be the end of the matter.

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is up 9.5% to 11.5 cents. This morning, this casino and resorts operator announced major changes to its leadership for a second day in a row. On Tuesday, Star moved Bruce Mathieson Jnr into the executive chair role following the exit of Steve McCann as CEO. However, Mathieson Jnr has now been moved to the CEO role, with Soo Kim joining as the company’s chair following a board meeting yesterday.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 3% to $3.03. This may have been driven by a bullish broker note out of Macquarie Group Ltd (ASX: MQG) this morning. According to the note, the broker has retained its outperform rating and $4.85 price target on Zip’s shares. It said: “Outperform. We forecast Zip to continue to deliver rapid growth supported by increased product adoption, expansion of merchant network, increased customer engagement and digital product innovation. Catalysts: We expect ZIP to deliver attractive TTV growth and NTM in the guidance range, with potential upside risk to earnings.”

The post Why Cedar Woods, Humm, Star, and Zip shares are storming higher today appeared first on The Motley Fool Australia.

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• Why 4DMedical, DroneShield, EOS, and Star shares are rising 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 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.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. At the time of writing, the benchmark index is down 0.3% to 8,573.6 points.

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

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down almost 12% to $2.48. This may have been driven by profit taking from some investors after a very strong gain on Tuesday. Investors were buying the counter drone technology company’s shares after it announced a new contract valued at $49.6 million for a European military end-customer. The contract is for handheld counter drone systems, associated accessories, and software updates. This isn’t its first contract from this customer. DroneShield revealed that it has received a total of 15 contracts from this reseller worth over $86.5 million.

Graincorp Ltd (ASX: GNC)

The Graincorp share price is down 13% to $7.30. This morning, this grain exporter announced the sale of its Canadian joint venture, GrainsConnect Canada, to Parrish & Heimbecker for C$150 million on a cash-free, debt-free basis. This will lead to GrainCorp recognising a loss on sale of approximately $5 million to $10 million. Managing director and CEO, Robert Spurway, commented: “Divestment of GrainsConnect allows GrainCorp to focus on alternative value-creating opportunities that are in the best interests of our shareholders.” The company also revealed that the 2025–26 east coast Australian winter harvest is now complete with receivals estimated to be 11 million to 12 million tonnes. This is down from 13.3 million tonnes in FY 2025.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is down 9% to $5.01. This morning, the struggling wine giant revealed that trading conditions have worsened and its performance is below expectations. The company’s new CEO, Sam Fischer, said: “We are currently experiencing category weakness in the US and China, two of our key growth markets, which will impact our business performance in the near-term. Maintaining the strength of our brands and the health of their respective sales channels is of critical importance to our Management team and our Board as we navigate through the current environment.”

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 2% to $23.49. This energy giant’s shares are falling today after oil prices dropped to their lowest levels since 2021. This appears to have been driven by optimism that Russia and Ukraine will soon sign a peace deal, which could mean Russian supply returns to the market.

The post Why DroneShield, Graincorp, Treasury Wine, and Woodside shares are sinking today appeared first on The Motley Fool Australia.

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

Credit Corp Group Ltd (ASX: CCP) has lobbed a takeover bid for Humm Group Ltd (ASX: HUM), valuing the company at near the high water mark for its shares over the past year.

Both companies made statements to the ASX on Wednesday admitting that early-stage talks were underway.

Humm Group said in its statement that on November 19, the company “received a confidential, conditional, non-binding indicative proposal from Credit Corp to acquire 100% of the shares in the company”.

Confidential talks underway on ASX takeover bid

Humm Group said it had been in discussions with Credit Corp since the proposal was launched.

The company said Credit Corp was offering 77 cents in cash per Humm Group share, but if that offer was unsuccessful, Credit Corp would then launch an off-market takeover at 72 cents per share, “conditional upon Credit Corp achieving acceptances for 50.1% of Humm Group’s shares”.

Humm Group added:

The Humm Group board, with the assistance of its financial and legal advisers, is carefully evaluating Credit Corp’s proposal. Directors are committed to acting in the best interests of all Humm Group shareholders and are open to supporting a proposal that they believe represents appropriate value for shareholders. The board is prepared to work constructively with Credit Corp to see if a proposal can be developed that it is prepared to recommend for consideration by the shareholders.

The Humm Group board said it had told Credit Corp it was willing to engage on the proposal and had offered to provide the opportunity for it to conduct due diligence, with discussions ongoing about a suitable non-disclosure agreement to cover those talks.

No formal bid at this stage

The board added that the proposal was at this stage “non-binding and incomplete”, and that “Credit Corp has expressly stated that the proposal does not constitute a proposal to make a takeover bid for the purposes of the Corporations Act”.

Humm Group shares shot 9.1% higher after the proposal was made public, trading at 72 cents. The company’s shares have traded as high as 78 cents over the past year and as low as 43 cents.

Credit Corp shares on Wednesday were 1.3% lower at $13.76.

Humm Group said in the same statement that it had received a section 203D notice seeking to remove three of the company’s directors from the board, although a resolution to call a meeting to move such a motion had not been filed.

Humm Group was valued at $330 million at the close of trade on Tuesday, while Credit Corp was valued at $948.9 million.

The post Fintech Humm Group is fielding a takeover offer at a 16% premium appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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.