It’s been a pretty cracking start to the trading week for the S&P/ASX 200 Index (ASX: XJO) so far this Monday. At the time of writing, the ASX 200 has gained a healthy 1.1% and is back above 6,860 points.   

So let’s dig deeper into these share market moves and take a look at the ASX 200 shares that are currently topping the share market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

Pilbara Minerals Ltd (ASX: PLS)

First up today is the ASX 200 lithium share Pilbara Minerals. This Monday has had a decent 19.96 million Pilbara shares find a new owner so far. There hasn’t been any new news out of Pilbara today. But that hasn’t stopped the company’s share price from rising a pleasing 4.93% to $5.11 a share.

This could be due to a number of ASX lithium shares delivering their well-received quarterly reports today. In any case, the large gains we have seen with Pilbara shares are probably the cause of the trading volumes we are seeing.

AMP Ltd (ASX: AMP)

ASX 200 financial services provider AMP is our next share today. AMP has had a significant 22.13 million of its shares change hands as it currently stands.

AMP shares have also had a strong day today, despite not much in the way of news out from the company. In fact, AMP has just hit a new 52-week high of $1.26 a share after rising more than 4% in value. It’s likely that it is this that has elicited the elevated volumes we are seeing.

Core Lithium Ltd (ASX: CXO)

Our final share is another ASX 200 lithium share in Core Lithium. Core Lithium has had a hefty 22.18 million shares swapping accounts today. As mentioned earlier, Core Lithium is one of the ASX lithium shares that has reported its quarterly results today.

As my Fool colleague Brooke covered at the time, this contained some exciting news regarding the company’s lithium and gold exploration activities. Investors are in agreement, seeing as the Core Lithium share price has gained a robust 4.1% to $1.40 a share. This is probably why Core Lithium is topping today’s volume charts thus far.

The post Here are the 3 most traded ASX 200 shares on Monday appeared first on The Motley Fool Australia.

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More reading

• Wheat woes: Why the Graincorp share price is charging 8% to the upside today
• Why are ASX lithium shares pulverising most of the market on Monday?
• Qantas shares are up 13% this year, but could the CEO’s pay still be in jeopardy?
• Could this news be helping the Sayona share price light up today?
• TPG shares lift after revealing plans of ‘unlocking’ more value

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

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The Graincorp Ltd (ASX: GNC) share price is taking off on Monday amid a spike in wheat prices.

Chicago wheat futures have lifted more than 5% today after Russia exited the Black Sea grain deal over the weekend.

And the Graincorp share price is along for the ride. The ASX agriculture company’s bottom line is closely tied to grain prices, meaning an increase in the price of wheat could boost profits.

The stock is up 7.99% right now, trading at $8.38. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has lifted 1.07%.

Let’s take a closer look at what might be bolstering the Graincorp share price on Monday.

Russia suspends Black Sea grain deal

The Graincorp share price is gaining as news Russia has backed out of a United Nations-brokered trade deal appears to drive wheat prices higher.

The agreement was designed to allow Ukraine to export grain from the Black Sea without risking attacks on merchant ships, the Guardian reports. Russia could also export food and fertiliser under the deal.

However, Russia ditched the agreement following a drone attack on Sevastopol, its Black Sea naval base. The nation attributed the action to Ukraine.

The Russian defence ministry said, via Russian news outlet Tass, the attack targeted the nation’s Black Sea Fleet and other ships involved with the grain corridor. It also said a drone might have been launched from a vessel carrying Ukrainian agricultural production.  

Ukrainian president Volodymyr Zelenskyy called on the UN and G20 to respond to Russia’s exit from the deal and the establishment of what he called a “blockade” in the grain corridor, saying:

This is an absolutely transparent intention of Russia to return the threat of large-scale famine to Africa and Asia.

Graincorp share price soars alongside wheat prices

If the Graincorp share price’s current gains hold out until close, the stock will post its second-largest single-session gain of the last 12 months.

Today’s lift hasn’t proven enough to pull the agriculture share back into the longer-term green, however. It has dumped nearly 20% over the last six months.

That’s despite the company upgrading its guidance in August.

Graincorp expects to declare between $680 million and $730 million of underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) for the financial year 2022. It will release its full year earnings on 16 November.

The post Wheat woes: Why the Graincorp share price is charging 8% to the upside today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Monday
• Why are ASX lithium shares pulverising most of the market on Monday?
• Qantas shares are up 13% this year, but could the CEO’s pay still be in jeopardy?
• Could this news be helping the Sayona share price light up today?
• TPG shares lift after revealing plans of ‘unlocking’ more value

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 Scott Phillips.

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The Dicker Data Ltd (ASX: DDR) share price is in the green today amid the company’s market update.

Shares in the technology business are up 2.37% at the time of writing, currently trading at $10.80 apiece.

Let’s take a look at what Dicker Data reported to the market today.

Revenue surges nearly 30%

Highlights of the unaudited financial update for the first nine months to 30 September include:

• Total revenue of $2,234.9 billion, up 29.9% on prior corresponding period (pcp)
• EBITDA of $92 million, an 8.9% gain on the pcp
• Net operating profit before tax of $76.7 million, a 0.1% gain on the pcp
• Gross profit margin year to date of $92 million.

What else?

Dicker Data reported strong revenue growth in the year to date. Revenue for the third quarter was $774.5 million, a 9% increase on the pcp.

Underpinning this revenue growth was a surge in demand and new, exclusive vendor partnerships.

Of this revenue, 82% was derived in Australia, while New Zealand contributed the other 18%.

Net profit before tax was relatively flat compared to the prior corresponding period. Rising interest rates, freight costs, and higher depreciation and amortisation from recent acquisitions impacted total profitability. Salary costs also increased, but overall accounted for 4.8% of revenue.

The company said it is “pleased” with its Q3 performance, especially given the higher-than-normal growth in the third quarter of 2021.

Dicker Data also provided an update on its recent capital raise to expand its Kurnell warehouse in NSW. Construction is due to commence in December 2022 and the project is due for completion in June 2023.

Management comment

Commenting on the news, CEO and chairman David Dicker said:

A very pleasing increase in sales year on year. While profit didn’t do as well, remaining flat, but that in comparison to with what was a very big previous year. Almost feels like a gain. With all the increases in costs, and other factors navigated, we have a very good platform for the future.

Outlook for remainder of the year

The company has a “buoyant” outlook for the fourth quarter of 2022. Demand across all technology remains strong. Dicker said hybrid cloud is the model of choice for most Australian and New Zealand businesses, aligning with the company’s cloud strategy and technology portfolio.

The company sees cybersecurity as a growth opportunity, especially given recent attacks on major companies in Australia.

Share price snapshot

The Dicker Data share price has fallen 28% in the past year, while it has lost 27% in the year to date. However, in the past week, Dicker Data shares have soared 13.7%.

Dicker Data has a market capitalisation of more than $1.9 billion based on the current share price.

The post What’s going on with the Dicker Data share price on Monday? appeared first on The Motley Fool Australia.

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S&P/ASX 200 Index (ASX: XJO) iron ore shares have taken a bit of a beating in recent months.

Over the past six months, the Rio Tinto Limited (ASX: RIO) share price has dropped 22%, the BHP Group Ltd (ASX: BHP) share price has declined 22% as well, the Fortescue Metals Group Limited (ASX: FMG) share price has fallen 32% and the Champion Iron Ltd (ASX: CIA) share price has dropped 35%.

It’s difficult for resource businesses to rise when the relevant commodity price is falling.

What’s going on with the iron ore price?

Reporting by the Australian Financial Review showed that the iron ore price continues to fall. The newspaper reported on a weekend note by S&P Global Commodity Insights which attributed a decline at the end of last week to “poor liquidity as most market participants showed a cautious buying behaviour”.

S&P also noted that the decline of the iron ore price reflected “poor margins” at Chinese steel mills.

The newspaper quoted TD Securities, which suggested that Chinese manufacturing is under pressure “on trade intensifies and amid renewed COVID flare-ups across the country. Additionally, property-sector weakness shows little sign of abating.”

However, TD Securities referred to “firmer steel demand”, which will “offer some solace” and that “autos production is another bright spot.” But, more lockdowns in some cities are expected to pressure the non-manufacturing purchasing managers’ index.

Liberum Capital said in a note that the outlook isn’t promising considering the Chinese real estate sector is going through troubles yet there is “relatively robust demand for commodities.”

In the note, Liberum Capital said:

We do not believe that this apparent versus actual demand mismatch is healthy or sustainable. Trade/price correction risk is building.

Is this a good time to invest?

Liberum Capital certainly doesn’t think so, with a selling rating on both BHP and Rio Tinto.

The broker UBS currently has a neutral rating on BHP, with a price target of $35.50. This rating was based on the risk that iron ore prices could keep falling

Macquarie has an outperform rating on BHP, with a price target of $45, though it did acknowledge that the wet weather could hamper production.

It’s a similar story with Rio Tinto. UBS has a neutral rating, with a price target of $90. However, Macquarie’s rating is also neutral on Rio Tinto, with a price target of $95.

On Fortescue, Macquarie rates the ASX 200 iron ore share as underperform, with a price target of just $14.50. Macquarie thinks that the iron ore price will be subdued over the next year or two.

Foolish takeaway

Time will tell what happens with the iron ore price. There could be a positive surprise in China.

Also, iron ore has been cyclical in the past – just look at 2016. It’s impossible to predict if or when the iron ore price could go back above US$100 per tonne, but I think times of heightened pessimism could prove to be the opportunistic time to look at these ASX 200 iron ore shares.

The post Could ASX 200 iron ore shares be heading for more pain? appeared first on The Motley Fool Australia.

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More reading

• Why Brainchip, Bubs, EML, and Fortescue shares are falling today
• The BHP share price went backwards in October. Time to pounce?
• Why I chose to buy Fortescue shares over BHP
• Brokers say there’s more pain ahead for the Fortescue share price
• Why Brainchip, Calix, Fortescue, and ResMed shares are sinking

Motley Fool contributor Tristan Harrison has positions in Fortescue Metals 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Iluka Resources Limited (ASX: ILU)

According to a note out of Credit Suisse, its analysts have upgraded this mineral sands and rare earths miner’s shares to an outperform rating with a $10.00 price target. This broker was pleased enough with Iluka’s quarterly production and the strong prices it received. And while Credit Suisse has some small doubts over its production guidance, it isn’t enough to stop it from upgrading its shares. Particularly given its catalyst-rich schedule which it feels could drive its shares higher. The Iluka share price is trading at $8.68 on Monday.

Macquarie Group Ltd (ASX: MQG)

A note out of Morgans reveals that its analysts have retained their add rating on this investment bank’s shares with a trimmed price target of $214.30. This follows the release of a first half result which revealed a stronger than expected profit. Overall, Morgans highlights that Macquarie is a quality franchise, well exposed to structural growth areas, and is managing a more difficult FY 2023 environment well. The Macquarie share price is fetching $169.15.

ResMed Inc. (ASX: RMD)

Another note out of Morgans reveals that its analysts have retained their add rating on this sleep treatment company’s shares with a slightly lower price target of $37.00. Morgans was pleased with ResMed’s quarterly update, highlighting that its first quarter result was better than expected. So, with supply chain pressures easing, the broker believes that ResMed’s outlook is very positive. The ResMed share price is trading at $33.98 on Monday afternoon.

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

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More reading

• Is the Macquarie share price a buy following the banking giant’s latest results?
• 5 things to watch on the ASX 200 on Monday
• Top brokers name 3 ASX shares to buy next week
• Is the Macquarie share price in the buy zone? Here’s what Goldman Sachs thinks
• Why Brainchip, Calix, Fortescue, and ResMed shares are sinking

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

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ASX lithium shares are bolting out of the gate on Monday via some renewed momentum, thereby pulling far ahead of their sector and the broader market.

Many lithium players in Australia are doing extremely well today. Here’s a quick glance at the numbers that some are generating right now:

• Pilbara Minerals Ltd (ASX: PLS) +5.13%
• Core Lithium Ltd (ASX: CXO) +4.10%
• Lake Resources N.L. (ASX: LKE) +5.58%

It should be noted that these share price movements are despite the materials sector being the second-worst-performing sector on Monday. The S&P/ASX 200 Materials Index (ASX: XMJ) is up 0.41%.

And the market as a whole is enjoying a day in the green with the S&P/ASX 200 Index (ASX: XJO) showing a 0.83% gain.

There are more than a few reasons for investors to be feeling optimistic about ASX lithium shares thanks to a mixture of strong commodity prices, positive news stories, and glowing quarterly reports posted to the market recently. Let’s investigate.

Two ASX lithium shares post strong quarterly results

There are strong quarterly reports from the likes of Core Lithium Ltd (ASX: CXO) to help lithium shares beat the market this afternoon. The company said it expected its maiden spodumene concentrate production to be realised in the first half of FY23 and that its spodumene reserve estimates were boosted during the quarter.

Another ASX lithium share that shared good news with the market today was Lake Resources N.L. (ASX: LKE). In its quarterly activities report, Lake Resources stated it signed a new off-take agreement for up to 50,000 tonnes per annum of lithium carbonate and made progress with its lithium brine operations.

What else is going on?

On the demand front, the lithium carbonate contract for difference (CFD) price is hovering around its all-time high at 562500 Chinese yuan per tonne, according to Trading Economics. This CFD price has more than doubled since the start of 2022.

Meanwhile, China’s domestic consumption of lithium inputs could be set to increase further, according to excerpts from a Chinese navy study published by the South China Morning Post on Saturday.

China is reportedly replacing its lead-acid batteries with lithium-based alternatives, which could “significantly boost a submarine’s survival and combat abilities”, the article said. China has the largest submarine fleet in the world in proportion to its surface vessels.

The post Why are ASX lithium shares pulverising most of the market on Monday? appeared first on The Motley Fool Australia.

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More reading

• Qantas shares are up 13% this year, but could the CEO’s pay still be in jeopardy?
• Could this news be helping the Sayona share price light up today?
• TPG shares lift after revealing plans of ‘unlocking’ more value
• What sent the Imugene share price 6% higher this morning?
• Liontown Resources share price jumps higher on the release of quarterly activities report

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

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

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

While tech stocks were hammered in 2022, the cloud computing industry barreled along at an impressive growth rate. According to research firm Gartner, the public cloud sector alone is estimated to grow 20% this year.

This amounts to nearly half a trillion dollars in 2022. Just a decade ago, global public cloud computing revenue was a mere $26.4 billion.

Given the cloud industry’s rapid expansion, competitors abound. Among the bigger players are tech giants IBM (NYSE: IBM) and Google Cloud, owned by Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG).

Both are seeing strong growth in their respective cloud businesses. But if you had to choose between the two, which company offers the better investment opportunity? Let’s dig into each to arrive at an answer.

IBM’s cloud strategy

IBM spent the past few years reinventing itself into a hybrid cloud-focused company. In a hybrid cloud implementation, a business employs both public and private clouds, using the former to perform basic IT infrastructure tasks, such as hosting a corporate website, and the latter to secure confidential or critical data, including financial and customer records.

IBM was smart to focus on this area. The hybrid cloud market is forecasted to grow from $85.3 billion last year to $262.4 billion by 2027.

In addition, IBM’s impressive list of enterprise clients is an ideal fit for hybrid cloud solutions. Big Blue’s customers include the top ten banks, governments, and healthcare companies in the world. These industries need the security of a private cloud while capturing the cost savings of a public one.

IBM’s hybrid cloud strategy proved successful. In its third-quarter earnings report, IBM generated revenue of $14.1 billion, a 6% increase over 2021. This is the third consecutive quarter of year-over-year revenue growth despite macroeconomic headwinds, such as a strong U.S. dollar.

Big Blue also offers an attractive dividend, yielding about 4.8% at the time of this writing. The company can maintain this robust dividend thanks to its free cash flow (FCF). IBM expects to hit $10 billion in FCF this year, while dividend payments totaled about $6 billion over the trailing 12 months.

IBM has a strong dividend track record, paying consecutive quarterly dividends since 1916. It also raised its dividend in April, marking 27 consecutive years of dividend increases.

Alphabet’s Google Cloud approach

Alphabet is building its Google Cloud business in the same way it generated success for its famed Google search engine: by prioritizing customer acquisition and revenue growth over profitability.

That’s why Google Cloud is currently unprofitable, exiting the third quarter with an operating loss of $699 million. But its business is growing rapidly. In just three quarters this year, Google Cloud’s sales nearly matched all of 2021’s income, continuing a multi-year streak of rising revenue.

Time Period	Google Cloud Revenue	YOY Growth
Q1 through Q3, 2022	$19 billion	39%
2021	$19.2 billion	47%
2020	$13.1 billion	46%
2019	$8.9 billion	53%

Data source: Alphabet. YOY = year-over-year.

Google Cloud comprised only about 10% of Alphabet’s Q3 revenue, but it’s already ranked the third-biggest cloud computing company behind industry leaders Amazon and Microsoft. And Alphabet continues to aggressively invest in Google Cloud despite closing down other bets such as its Stadia video games division.

For instance, Alphabet acquired cybersecurity firm Mandiant in September for $5.4 billion, marking one of the company’s biggest acquisitions in its history. Mandiant will boost Google Cloud’s security in a world where remote workers grew from 23% of the American workforce before the coronavirus pandemic to nearly 60% in 2022.

Is IBM or Alphabet the better investment?

Both IBM and Alphabet have proven successful in their cloud endeavors, so investing in either is worthwhile. After all, the cloud computing industry is forecasted to grow from $706.6 billion last year to $1.3 trillion by 2025.

But if I had to choose one of these cloud computing companies to invest in, I would lean toward Alphabet despite IBM’s success and attractive dividend.

Google Cloud’s revenue is already edging past Big Blue. IBM’s hybrid cloud revenue over the past 12 months totaled $22.2 billion. Google Cloud’s revenue was $24.5 billion over the same time period.

Granted, Google Cloud’s success can be overshadowed by Alphabet’s digital advertising business, which accounted for $54.5 billion of its $69.1 billion in Q3 revenue. And the advertising industry is experiencing a downturn this year, leading Alphabet’s Q3 ad revenue to increase just 2.5% year-over-year.

But Alphabet’s ad business helps fund Google Cloud. Alphabet generated $63 billion in FCF over the past 12 months, while IBM expects to achieve a cumulative FCF total of $35 billion across three years, from 2022 to 2024.

Also, Alphabet possesses several factors, along with Google Cloud, that make the company an alluring investment, including its dominance in search advertising. Alphabet increased revenue 41% year-over-year in 2021, and its revenue continues to grow this year, reaching $206.8 billion over three quarters compared to $182.3 billion last year.

Google Cloud’s strong growth, Alphabet’s hefty FCF, and the company’s other areas of strength provide compelling reasons to make Alphabet the better choice for an investment in the rapidly rising cloud computing industry. 

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

The post Better cloud computing stock: IBM vs. Alphabet appeared first on The Motley Fool Australia.

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• Why were Meta and Amazon stocks falling today?

Robert Izquierdo has positions in Alphabet (A shares), Amazon, IBM, and Microsoft. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Gartner. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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The Calix Ltd (ASX: CXL) share price is having another disappointing day.

In afternoon trade, the environmental technology company’s shares are down 9% to a 52-week low of $4.04.

This means the Calix share price is down 26% over the last two trading sessions.

Why is the Calix share price crashing?

Investors have been hitting the sell button since Calix announced that the Federal Government has withdrawn some major funding for a couple of projects.

According to the release, following the Budget, AusIndustry informed Calix that $11 million in grant funding announced by the former Government would be cancelled. These funds were going to support Calix’s project with Adbri Ltd (ASX: ABC) to develop low emissions lime.

But it gets worse. Building materials company Boral Limited (ASX: BLD) has advised Calix that another $30 million in grant funding from the former Government has also been cancelled. These funds were going to be use for a Carbon Capture, Use and Storage (CCUS) project utilising Calix’s cement and lime decarbonisation technology.

One small positive, which hasn’t been enough to keep the Calix share price from sinking, is that the current Federal Government has announced that it will be implementing a new Carbon Capture Technologies program. This will see the government provide $141.1 million over ten years as part of a realignment of investment in carbon capture technologies. Though, there’s no guarantee that Calix will receive any of this funding.

Is this a buying opportunity?

One broker that remains cautiously optimistic on the company is Shaw & Partners.

This morning the broker retained its buy rating but slashed its price target by 29% to $6.00. Based on the current Calix share price, this implies potential upside of almost 50% for investors over the next 12 months.

Shaw & Partners recently was the co-manager of Calix’s capital raising that raised $60 million via an institutional placement.

The post Why is the Calix share price stooping to a new 12-month low on Monday? appeared first on The Motley Fool Australia.

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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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On the raw numbers, shareholders of Qantas Airways Limited (ASX: QAN) should be a happy lot. Qantas shares are up a healthy 13.3% over 2022 thus far. That’s a gain that far outstrips the S&P/ASX 200 Index (ASX: XJO)’s loss of 10%.

Sure, Qantas shares aren’t back to their pre-COVID levels of more than $7 a share. But all could agree that it has been a tough time for the airline in recent years. And Qantas did hit a new post-COVID high earlier this month.

Over the past 12 months, the Qantas share price is also in the green, having recorded gains close to 6%. Again, that’s a lot better than the ASX 200’s loss of 7.2% over the same period. And yet, some shareholders don’t seem to be happy with the company. Or at least with its CEO, Alan Joyce.

According to reporting in the Australian Financial Review (AFR) today, Qantas’ management looks set to face a backlash at the next annual shareholder meeting this Friday.

Qantas shares are having a good year, but AGM could be tense

The report alleges that Joyce and Qantas management could face a possible protest vote against proposed remuneration arrangements for Joyce and the airline’s senior management. This is due to one major proxy firm – ISS. ISS is recommending shareholders vote against the company’s present executive retention scheme. It is doing so from the belief that the set performance targets were not “sufficiently challenging”.

This scheme contains company targets such as cutting $1 billion worth of costs by June 2023 and a return to profitability by the 2023 financial year.

Under the terms, Joyce will be entitled to almost 700,000 Qantas shares, worth around $4 million.

In a report, ISS accused Qantas of giving investors a “false choice” on this vote:

The company intends to make a cash equivalent payment rather than an equity award if shareholder approval is not obtained… The CEO’s remuneration is set well above the market median and has been identified as a high concern for misalignment of pay with underlying company performance over the past three years.

Qantas’ management has reportedly dismissed these concerns, saying that ISS’ arguments “include companies that are far smaller and does not adequately recognise Mr Joyce’s experience or previous performance”.

However, ISS’ concerns are not shared by other proxy groups. Other groups like CGI Glass Lewis and the Australian Council of Superannuation Investors have not recommended stakeholders vote against the scheme.

So it will be interesting to see what happens at the annual general meeting this Friday.

The post Qantas shares are up 13% this year, but could the CEO’s pay still be in jeopardy? appeared first on The Motley Fool Australia.

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

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The S&P/ASX 200 Index (ASX: XJO) is back on form on Monday. In afternoon trade, the benchmark index is up 0.85% to 6,842.8 points.

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

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is up 5% to $19.62. This follows the release of the biopharmaceutical company’s quarterly update. Clinuvel recorded its highest quarterly results from customer receipts since the commencement of commercial operations in Europe in June 2016 and United States in April 2020. The company’s receipts from customers for the quarter were $25.152 million, with net operating expenditures of $8.270 million and net operating cashflow totalling $17.338 million.

Nitro Software Ltd (ASX: NTO)

The Nitro share price is up 18% to $2.05. Investors have been buying this document productivity software company’s shares after it received another takeover offer. Canadian graphics software company Alludo has offered $2.00 per share, which is 11% higher than Potentia Capital’s offer of $1.80 per share. Given that the Nitro share price is trading above the offer price, investors appear to believe a bidding war could ensue.

Premier Investments Limited (ASX: PMV)

The Premier Investments share price is up 5% to $24.97. This has been driven by the release of a trading update from the retail conglomerate after the market close on Friday. That update reveals that global sales for the first 12 weeks of FY 2023 are up 42.8% on the prior corresponding period. This is also a 21.7% increase on the same ‘pre-COVID’ period during FY 2020.

Pushpay Holdings Ltd (ASX: PPH)

The Pushpay share price is up 8% to $1.14. This follows news that the donation platform provider has accepted a NZ$1.34 (A$1.21) per share takeover offer from the Sixth Street and BGH Capital Consortium. This represents a 14.7% premium to the Pushpay share price prior to its trading halt and a 30.1% premium to where its shares were trading before its first takeover offer was received.

The post Why Clinuvel, Nitro, Premier Investments, and Pushpay shares are rising appeared first on The Motley Fool Australia.

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More reading

• Pushpay share price rips 9% ahead on takeover agreement
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• Nitro share price halted amid improved takeover bid
• Up 7% today, could this ASX All Ords tech share be in for more takeover bids?

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 PUSHPAY FPO NZX. The Motley Fool Australia has positions in and has recommended PUSHPAY FPO NZX. The Motley Fool Australia has recommended Nitro Software Limited and Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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