TPG Telecom Limited (ASX: TPG) shares are in the green today amid a strategic update.

The telecommunication company’s shares are up 1.77% at the time of writing, currently trading at $4.895 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.69% today.

So what did TPG announce to the market today?

Bank of America to assist with strategic review

TPG has recruited Bank of America to assist with a strategic review of the company’s Vision Network business unit.

The company said its board wants to unlock value for TPG Telecom shareholders and enable Vision Network to “exploit its full potential”.

The Australian Financial Review reported Bank of America may help TPG sell its Vision Network business and will likely speak to prospective investors.

Vision Network provides fixed broadband to about 135,000 subscribers. The business is expected to generate more than $100 million of revenue in the 2023 financial year.

Commenting on today’s news, TPG CEO and managing director Inaki Berroeta said:

Vision Network’s operations are best-in-class and, following completion of the last phase of functional separation from our retail operations earlier this month, the business has compelling opportunities to fulfil its potential to become a leading wholesale residential broadband platform for multiple retail service providers.

TPG believes Vision Network has the potential to provide super-fast broadband connectivity to new building developments.

TPG said it will provide more updates to the market “in due course” and “as appropriate”.

Share price snapshot

TPG shares have shed almost 28% in the past 12 months, while they are down 17% year to date.

In comparison, the S&P/ASX 200 (ASX: XJO) has lost nearly 7% in the past year.

TPG has a market capitalisation of about $9 billion based on the current share price.

The post TPG shares lift after revealing plans of ‘unlocking’ more value appeared first on The Motley Fool Australia.

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Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended TPG Telecom 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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Monday is proving to be a good day for the All Ordinaries Index (ASX: XAO) as many shares that call the index home boost it higher.

Indeed, these three are posting gains of as much as 11% right now. Meanwhile, the All Ords index is up 0.64% at the time of writing.

So, what’s driving these All Ords shares to outperform? Keep reading to find out.

3 ASX All Ords shares posting major gains on Monday

The first All Ords share taking off today is Tasmanian whiskey crafter Lark Distilling Co Ltd (ASX: LRK). The company posted its quarterly report this morning.

It brought in $4.2 million of sales over the three months ended 30 September – a 3% increase on the prior comparable period (pcp). Its gross profit margin also rose to 67.7% while its cash position remained strong at around $10 million.

The update appears to have surprised the market. It has bid the Lake Distilling share price up to $2.06 right now – marking a 10.75% gain on its previous close.

Lark Distilling is joined in the green by the share price of All Ords online furniture and homewares retailer Temple & Webster Group Ltd (ASX: TPW). It’s gained 9.47% to trade at $5.55 at the time of writing.

That’s despite no news having been released by the company.

Though, it’s worth noting Temple & Webster’s stock has dumped around 47% year to date after a rough start to 2022. Today’s rise sees it trading around 5% lower than its September high.

Finally, the share price of All Ords tech favourite Life360 Inc (ASX: 360) is taking off on Monday, gaining 6.55% to reach $6.83.

Once again, there’s been no news from the former S&P/ASX 200 Index (ASX: XJO) company. Today’s gain included, its stock has fallen around 28% year to date.

The post 3 ASX All Ords shares starting the week on fire appeared first on The Motley Fool Australia.

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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 positions in and has recommended Life360, Inc. and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Nickel Industries Ltd (ASX: NIC) share price has started the week strongly.

At the time of writing, the nickel producer’s shares are up over 4% to 73 cents.

At one stage, the Nickel Industries share price was up as much as 6% to 74 cents.

Why is the Nickel Industries share price rising?

Investors have been bidding the Nickel Industries share price higher today after the company released its quarterly update.

According to the release, Nickel Industries delivered a 30.2% quarter on quarter increase in nickel production to a record of 20,275 tonnes. This includes 9,994 tonnes of nickel from the Angel Nickel operation, which commenced commissioning in late July.

Another positive was that the company recorded an average cash cost of US$13,597 per tonne, down 6.2% since the previous quarter.

Things weren’t quite as positive for its sales and earnings. Although nickel sales volumes rose 26.7% to 20,045 tonnes, a 20% decline in the realised nickel price to US$15,950 a tonne led to sales growth of just 1.2% to US$319.2 million.

It was even worse for its earnings despite its lower cash costs. The company revealed 46.6% decline in RKEF EBITDA to US$45.3 million. This represents EBITDA per tonne of US$2,261, which is down 57.9% from the June quarter.

Nevertheless, the company still generated underlying cash from operations of US$54.9 million for the quarter. This boosted its cash balance to US$513.2 million at the end of September.

The Nickel Industries share price has now trimmed its year to date decline to approximately 50% following today’s gain.

The post Why is the Nickel Industries share price leaping 6% today? 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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The Bitcoin (CRYPTO: BTC) price has been closely correlated with movements in US stock markets this year.

The Nasdaq Composite (INDEXNASDAQ: .IXIC) has been a particularly reliable barometer of how BTC moves.

Look back at the price charts for 2022 and you’ll see a 5% gain in the NASDAQ has usually been mirrored by a significantly larger gain in the Bitcoin price.

And when the NASDAQ drops, the world’s top crypto has also tended to suffer a larger loss than the tech-heavy index.

Yet this past week may have offered another sign that Bitcoin could be starting to decouple from this correlation.

With some disappointing earnings results reported by the world’s top tech shares, the NASDAQ remains down 1% from Tuesday’s close, despite some strong gains to finish the week.

The Bitcoin price, on the other hand, is up just over 2% in that time.

Not a huge break from the correlation, mind you, but a break nonetheless.

Why might the Bitcoin price decouple from US stocks?

For some greater insight into what’s happening in the crypto markets, we turned to Simon Peters, market analyst at multi-asset trading platform eToro.

Peters told The Motley Fool that despite the disappointing earnings results and outlook from some of the big tech names in the US, the Bitcoin price “has held firm”.

Citing Glassnode data, Peters said that last week:

BTC exchange balances continued to drain, which is generally seen as bullish with the HODLer cohort reaching all-time-high coin ownership. The proportion of wealth held in coins that moved in the last three months is now at an all-time low, and the reciprocal observation is that wealth held by coins older than three months is now at an all-time high.

These high ownership levels signal why we may be seeing a decoupling between US equities and Bitcoin.

At the current price, it is unlikely that entities apart from Bitcoin miners would want or need to sell Bitcoin, whereas given stock market conditions and the negative forecasts from companies reporting earnings, there is perhaps a greater inclination to sell stocks.

The Bitcoin price is down 1% over the past 24 hours, currently trading for US$20,562 (AU$32,022).

The post The Bitcoin price may be decoupling from US stocks. Is this why? 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 Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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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At the start of each week, I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) is still the most shorted share on the Australian share market after its short interest rose to 15.3%. Short sellers appear to be betting against a swift travel market recovery.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease to 14.1%. Much to the delight of short sellers, this betting technology company’s shares crashed lower following its quarterly update last week. The Betmakers share price is now down 67% year to date.
• Megaport Ltd (ASX: MP1) has seen its short interest rise to 12.2%. Short sellers have been adding to their positions after Megaport released a soft quarterly update earlier this month.
• Block Inc (ASX: SQ2) has seen its short interest rise to 12.1%. This may be down to concerns over regulatory pressure in the BNPL market and global recession fears.
• Domino’s Pizza Enterprises Ltd (ASX: DMP) has seen its short interest rise to 11.1%. Fears that cost inflation could be weighing on this pizza chain operator’s performance appear to be the reason for this high level of short interest. We won’t have to wait long to find out if this is the case. Domino’s holds its AGM this week.
• Perpetual Limited (ASX: PPT) has seen its short interest jump again to 10.9%. A number of fund managers have been under pressure this year due to tough operating conditions.
• Lake Resources N.L. (ASX: LKE) has short interest of 8.7%, which is down week on week again. Short sellers have been targeting this lithium developer due to doubts over the DLE technology that is integral to the Kachi lithium project.
• Temple & Webster Group Ltd (ASX: TPW) has returned to the top ten with short interest of 8.6%. Short sellers will be disappointed to see that this ecommerce share is shooting higher today on no news.
• Breville Group Ltd (ASX: BRG) has seen its short interest rise to 8.5%. This may be due to concerns that the uncertain economic backdrop could impact consumer spending.
• Nanosonics Ltd (ASX: NAN) has short interest of 8.4%, which is up week on week. This appears to have been driven by the uncertainty caused from this infection prevention company’s disruptive business model change in the key US market.

The post Here are the 10 most shorted ASX shares 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 positions in and has recommended Betmakers Technology Group Ltd, Block, Inc., MEGAPORT FPO, Nanosonics Limited, and Temple & Webster Group Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. and Nanosonics Limited. The Motley Fool Australia has recommended Betmakers Technology Group Ltd, Dominos Pizza Enterprises Limited, Flight Centre Travel Group Limited, MEGAPORT FPO, and Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a good year so far for those invested in S&P/ASX 200 Index (ASX: XJO) coal share Coronado Global Resources Inc (ASX: CRN).

The stock has lifted a whopping 50% since the start of 2022. Meanwhile, the company’s earnings have taken off amid soaring coal prices.

In turn, those holding the ASX 200 share have been on the receiving end of some notable dividends. Indeed, Coronado announced another special dividend this morning.

So, with the Coronado share price currently trading 3.36% higher than its previous close at $1.9225, does the stock offer a dividend yield of more than 30%? Keep reading to find out.

Does this ASX 200 share really boast a 31% dividend yield?

ASX 200 coal producer Coronado has been on a roll this year, posting yet another strong quarter this morning.

The company brought in US$875 million of revenue for the September quarter – a 15.3% fall on that of its record June quarter. Its realised metallurgical coal price last quarter was US$253 per tonne – a 21.2% quarter-on-quarter fall.

Over the course of 2022 so far, it’s declared US$2.85 billion of revenue – more than double what it had this time last year.

On the back of its recent performance, the ASX 200 share announced a US 13.4 cent special dividend today.

That’s around 21 Australian cents at today’s exchange rate. The company will announce the official currency conversion on 21 November.

The coal miner previously declared two special dividend worth a combined US 11.9 cents (16.66 cents) in May and two ordinary dividends in February and August, worth US 9 cents (12.19 cents) and US 7.5 cents (10.86 cents) respectively.

Assuming its latest dividend does come in at 21 Aussie cents, the five offerings total an impressive 60.71 cents.

Considering this figure, the ASX 200 share could trade with a whopping 31.5% dividend yield.

However, it’s worth noting that special dividends typically aren’t factored into a company’s yield. Thus, without considering the special offerings, Coronado shares currently trade with a 12% dividend yield – certainly nothing to scoff at.

The post Is this ASX 200 share really offering a dividend yield above 30%? appeared first on The Motley Fool Australia.

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• Own CBA shares? Here’s why the bank wants to shake up the RBA board
• Lake Resources share price climbs on quarterly operations progress
• The BHP share price went backwards in October. Time to pounce?
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• The ANZ share price has had a strong run, rising 10% in October

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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Commonwealth Bank of Australia (ASX: CBA) shares are in the green again today, after finishing in positive territory every trading day last week.

CBA shares closed on Friday trading for $103.22 a share and in Monday morning trade, are swapping hands for $104.805 apiece, up 1.54%.

That’s today’s price action for you.

Now, here’s why CommBank is looking to shake up the board over at the Reserve Bank of Australia (RBA).

Why CommBank wants to see some changes with the RBA board

We don’t have to tell you that inflation in Australia is running hot.

Whether you’re filling up your car, buying groceries, or planning a holiday, you’ll have noticed the bigger hit to your pocketbook.

The latest official figures put inflation in Australia at a blistering 7.3%. And that number is expected to edge into the 8% range before beginning to pull back in 2023.

In a bid to tame inflation, the RBA has been steadily hiking interest rates, from the historic low of 0.10% back in May to today’s 2.60%. And the central bank is widely expected to raise rates by another 0.25% or even a full 0.50% when the board meets tomorrow.

That’s a far cry from what RBA governor Philip Lowe was telling the public last year. At the time, he offered reassurances that rates would remain at rock bottom levels into 2024.

And that, amongst other grievances, doesn’t sit well with CBA chief economist Stephen Halmarick, who said those types of forecasts should not be made again.

“Forward guidance should only be based on a set of pre-conditions related to meeting the inflation objective and never calendar based, either implicitly or explicitly,” he said (as quoted by The Australian Financial Review).

In a submission to an independent review of the RBA’s board, CBA said it wanted to see a major shakeup of the board when it comes to making monthly interest rates decisions, with a greater presence of monetary policy experts joining public servants and business leaders.

“The current structure of the RBA board is not compatible with generally accepted best practice for boards in Australia,” Halmarick said. “A widely accepted structure for an effective board is for the board to have nine members in a 3-3-3 model.”

And the RBA board should open the door to senior executives from outside the organisation.

“There is a need to facilitate the two-way flow of people into and out of the RBA and the private sector. This could be done at multiple levels across the RBA,” Halmarick added.

How have CBA shares been tracking?

CBA shares are up 3.58% year to date, a solid result when compared to the 9.6% loss posted by the S&P/ASX 200 Index (ASX: XJO) so far in 2022.

The post Own CBA shares? Here’s why the bank wants to shake up the RBA board appeared first on The Motley Fool Australia.

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• Is this ASX 200 share really offering a dividend yield above 30%?
• Lake Resources share price climbs on quarterly operations progress
• The BHP share price went backwards in October. Time to pounce?
• Why is the Core Lithium share price outperforming today?
• The ANZ share price has had a strong run, rising 10% in October

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.

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The Lake Resources N.L. (ASX: LKE) share price is firing up today after the company released its quarterly report for the period ending 30 September.

Shares in the ASX lithium explorer are currently trading 3.55% higher at $1.02 apiece at the time of writing.

Let’s look at the company’s highlights for the quarter.

What did Lake Resources report?

• Net cash flow used in operating activities: $9 million
• Net cash flow used in investing activities: $17.34 million
• Cash and cash equivalents at end of the period: $158.87 million
• Estimated quarters of funding available: 14.27

Lake Resources provided an overview of its operations in the report.

The company advised its Kachi demonstration plant installation in Argentina was complete. Commissioning to test the plant was conducted during the quarter. The plant was tested in California, and the test was reportedly successful.

Meanwhile, drilling at Kachi continues. The company is conducting two different types of drilling to both improve its estimates on how many resources are available and to find more resources.

At Lake Resources’ Cauchari, Olaroz, and Paso lithium brine projects, also in Argentina, the company is continuing its lithium exploration via a drilling program.

What else happened?

Lake Resources made two key leadership changes in the quarter. David Dickson was appointed CEO and managing director, with a mandate to “lead the company’s transition from exploration focus to
development, construction and toward production”.

Sean Miller also joined as the corporate development officer “to accelerate activity across Lake’s 100% owned exploration projects Cauchari, Olaroz, and Paso”.

In other developments, Lake Resources signed an offtake agreement with WMC Energy and SK for up to 50,000 tonnes per annum of lithium carbonate.

The company also advised Definitive Feasibility Studies (DFS) and Environmental Social Impact Assessment (ESIA) studies were continuing. The demonstration plant validation is required before the DFS can be completed.

Lake Resources share price snapshot

The Lake Resources share price has slipped into the green year-to-date, up 0.99%, and is trading 8.51% higher over the past 12 months. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 7.94% and 6.42% over the respective periods.

The company’s market capitalisation is around $1.42 billion.

The post Lake Resources share price climbs on quarterly operations progress appeared first on The Motley Fool Australia.

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• Is this ASX 200 share really offering a dividend yield above 30%?
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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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The Woolworths Group Ltd (ASX: WOW) share price has descended slightly lower during the month of October.

Woolworths shares have shed 2.51% since market close on 30 September and are currently trading at $33.095 on the last day of October. At the time of writing, Woolworths shares are up around 1%.

Let’s take a look at how October played out for the Woolworths share price

How did the month play out?

Woolworths’ major competitor on the ASX has had a relatively flat month. Coles Group Ltd (ASX: COL) shares have fallen 0.3% since market close on 30 September. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) has also dropped 0.09% over the same time frame.

Woolworths shares dropped 3.15% on October 26. On this day, Woolworths highlighted challenges that may lay ahead for the company. Woolworths CEO Brad Banducci said:

As we move further into F23, we expect the operating environment to remain challenging but we are extremely focused on returning to consistently good customer and team experiences.

We are very conscious of the challenges of inflation and cost-of-living pressures for our customers.

Another notable event in October was news of a data breach impacting online retailer MyDeal. Woolworths acquired MyDeal in September. Data including names, email addresses, phone numbers, and dates of birth of around 2.2 million customers were impacted.

However, no payment data, driver licence details, or passport numbers were affected. MyDeal also has a completely separate platform to other businesses within Woolworths.

Inflation worries and interest rate rises have also weighed on investors’ minds during October.

Looking ahead, analysts at Wilsons have recently named Woolworths as one the 22 high-yield dividend shares it recommends.

Goldman Sachs analysts also placed a buy rating on the Woolworths share price in October with a $42.70 price target. Goldman is predicting Woolworths to pay fully franked dividends of $1.07 per share in FY 2023 and $1.16 in FY 2024.

Share price snapshot

The Woolworths share price has descended 13% in the past 12 months, losing that amount during the year to date.

For perspective, the S&P/ASX 200 (ASX: XJO) has lost about 9% in the past year.

Woolworths has a market capitalisation of more than $40 billion based on the current share price.

The post How has the Woolworths share price fared in October? appeared first on The Motley Fool Australia.

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Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. 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 Pushpay Holdings Ltd (ASX: PPH) share price has returned from its trading halt with a bang.

In morning trade, the donation technology company’s shares are up 9% to $1.15.

Why is the Pushpay share price storming higher?

The catalyst for the rise in the Pushpay share price on Monday has been news that the company has accepted a takeover offer from the Sixth Street and BGH Capital Consortium.

Sixth Street is a global investment firm and BGH Capital is an Australia and New Zealand-focused private equity firm. Together, the two parties currently hold, in aggregate, 20.34% of the shares in Pushpay.

According to the release, Pushpay has entered into a scheme implementation agreement under which the consortium will acquire all of Pushpay’s shares at a price of NZ$1.34 (A$1.21) per share in cash via a scheme of arrangement. This represents a 14.7% premium to the Pushpay share price prior to its trading halt.

Why did Pushpay accept this offer?

The release notes that following a comprehensive process and a thorough consideration of strategic options, the Pushpay board believes the offer provides “compelling value for shareholders.”

It highlights that while it is only a 14.7% premium to the last close price, it is a 30.1% premium to undisturbed share price on 22 April before takeover offers were first received. In addition, since then, the ASX All Technology index has declined 12.1%.

It implies an equity value of US$898 million and an acquisition multiple of 16x the midpoint of its revised EBITDAF guidance of US$56 million for FY 2023.

Pushpay’s Chair, Graham Shaw, commented:

In considering the options, including the possibility of continuing to implement the Company’s growth strategy as a publicly listed company, the Board adopted a long-term view of the risks and rewards of various alternatives.

After a thorough assessment, the Board believes that the Sixth Street / BGH Consortium Scheme proposal currently represents the most compelling value for shareholders. Although the Board remains confident in the future of Pushpay, the transaction will accelerate a capital return to shareholders and mitigates the risks that would otherwise be involved in delivering the opportunities from executing Pushpay’s strategic plan over time. Accordingly, the Board is pleased to unanimously recommend the transaction to shareholders.

The post Pushpay share price rips 9% ahead on takeover agreement 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 positions in and has recommended PUSHPAY FPO NZX. The Motley Fool Australia has positions in and has recommended PUSHPAY FPO NZX. 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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