Have Sayona Mining Ltd (ASX: SYA) shares been a good investment in 2022? Good question.

The Sayona Mining share price has certainly been keeping a comfortable space in the midst of investors’ minds over this year so far.

This emerging ASX lithium share often makes an appearance on the daily lists of the most traded ASX shares, helped no doubt by the volatile share price movements that have come to define its presence on the ASX.

But let’s dig into the weeds of this company and see which investors (if any) the Sayona share price has benefitted.

How happy have Sayona Mining shares made ASX investors?

At the start of 2022, Sayona Mining shares were going for just 14 cents each. Today, the lithium share is trading at 29 cents a share. This represents a whopping year-to-date performance of 108.6%.

If an investor was lucky enough to buy shares back in February, when the company touched its current 52-week low of 11 cents, they would be sitting on a pleasing gain of more than 165% right now.

In fact, Sayona was going for as little as 13 cents a share back on 12 July. That means the company has gained more than 124% in the six weeks or so since that date.

However, that doesn’t paint the whole picture. Back in April, Sayona shares hit what is now the company’s 52-week high of 39 cents a share. If an investor was unlucky enough to pick up some shares then, they would be nursing a loss of around 25% right now.

But they have been making longer-term investors happy as well. Just to be silly, let’s take an investor who picked up shares back on New Year’s Eve, 2020. Back then, Sayona shares were asking just 1 cent each. That would place them at a jaw-dropping gain of 2,820% on today’s pricing.

So we can probably conclude that the Sayona share price has been very kind to most of its investors over 2022, and further back. However, investors who FOMO-ed in at the company’s highs are still likely nursing heavy losses. Something to keep in mind.

At the current price, this ASX lithium share has a market capitalisation of $2.38 billion.

The post Have Sayona Mining shares been a good investment in 2022? appeared first on The Motley Fool Australia.

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More reading

• Why did the Sayona Mining share price beat the ASX All Ords on Tuesday?
• Why is the Sayona Mining share price surging 8% on Friday?
• Why is the Sayona Mining share price so volatile?
• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Lake Resources share price up so much more than other ASX lithium shares today?

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 share market can throw up some surprises each day.

One example is what happened with buy now, pay later provider Zip Co Ltd (ASX: ZIP) on Thursday.

In the morning the company revealed its 2022 financial year results. Zip sheepishly reported loss from ordinary activities after income tax of $1.1 billion.

Not only was this loss 63% higher than last year, but at the start of trade on Thursday the market capitalisation of the entire business was only $667 million.

That means, in just one year, Zip managed to lose 165% of its market cap.

Imagine if Apple Inc (NASDAQ: AAPL) reported that it just made a $6.4 trillion loss in 12 months. Would you be horrified?

Yet as I write this, the Zip share price is up 2.06%.

How bizarre.

I’ve changed, baby, I promise

One explanation for investors’ enthusiasm is the rhetoric coming from the company about adapting to changed market conditions.

Zip chief executive Larry Diamond has acknowledged multiple times in recent weeks how the tide has turned against loss-making growth companies. In response, his team is accelerating the business’ journey towards positive cash flow.

That same message was repeated on Thursday.

“We changed strategy and shifted to delivering sustainable growth, right-sizing our global cost base and accelerating the path to profitability,” he said.

“To that end, I want to share that we have already delivered on a number of initiatives to reduce cash burn, manage credit losses and improve unit economics.”

One of the big reforms is withdrawing out of unprofitable markets and focusing on the core Australian and US businesses.

In fact, the $1.1 billion loss included $821 million worth of impairment, with much of that the goodwill for closed offshore operations and acquisitions.

According to Diamond, closing the UK business would go a long way to stemming the cash bleed.

He has also promised to weed out bad credit throughout the business.

Can’t get any worse?

To be honest, Diamond doesn’t have much choice but to signal a strategic pivot. The Zip share price has plummeted in recent times.

The stock is down 77% year-to-date. It’s an eye-watering 92% loss if you go back 18 months.

Perhaps investors have backed the BNPL provider on Thursday with the attitude that it can’t get any worse. 

“Our ability to pivot and adapt to the new world, showcases the resilience and viability of our business model as we focus on the opportunity ahead in FY23,” Diamond said.

The post Zip’s FY22 loss is 165% of its market cap. So why did its shares go up? appeared first on The Motley Fool Australia.

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• Zip share price lifts despite $1 billion loss for FY22
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• How did the Zip share price respond last time the company reported?
• Looking to buy Zip shares? Here’s what to look for in tomorrow’s results
• Why is the Zip share price sinking 5% on Monday?

Motley Fool contributor Tony Yoo 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 Apple and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. 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 has been another very busy day of result releases on the All Ordinaries index on Thursday.

Not all have been received well by investors. For example, three All Ords shares that are falling in response to their results are listed below. Here’s how they performed:

City Chic Collective Ltd (ASX: CCX)

The City Chic share price has crashed a whopping 19% to $1.99 following the release of the plus sized fashion retailer’s results.

While City Chic revealed a 39% increase in revenue to $369.2 million and a small increase in net profit after tax to $22.3 million, this was overshadowed by its inventories and cash flow.

The company revealed that its inventory position almost tripled year over year from $67 million to $196 million and its operating cash flow swung from positive $15.2 million to negative $51.9 million.

Mount Gibson Iron Limited (ASX: MGX)

The Mount Gibson share price is down 6% to 40.5 cents after the iron ore miner’s full year results disappointed.

For the 12 months ended 30 June, the company revealed ore sales revenue of $131.1 million. However, due to an impairment and a sharp drop in volumes and the realised price of its iron ore, the company record a loss after tax that was even greater than revenue at $174.1 million. This is down from a $64 million profit a year earlier.

Excluding the $184.6 million impairment, Mount Gibson’s loss before tax would still have been a disappointing $63.6 million.

SKYCITY Entertainment Group Limited (ASX: SKC)

The SkyCity share price is down over 2% to $2.61 following the release of this casino and resorts operator’s full year results.

SkyCity had a tough 12 months, leading to its revenue falling 32.9% to NZ$639 million. Things were even worse on the bottom line, with the company recording a reported net loss after tax of NZ$33.6 million. Management blamed this poor performance on a material impact from COVID-19 disruptions.

Pleasingly, the company has started FY 2023 strongly and sees a clear pathway to profit.

The post 3 ASX All Ords shares sliding following earnings updates appeared first on The Motley Fool Australia.

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• Why City Chic, Flight Centre, Perpetual, and Woolworths shares are sinking
• City Chic share price plummets 13% as cash flow sinks in FY22
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Why are ASX 200 retail shares having such a stellar run 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.

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The S&P/ASX 200 Index (ASX: XJO) is trading in the green on Thursday, buoyed by results from many shares that call it home.

Earnings season is in full swing this week, with some of the market’s biggest names releasing results. Here are three shares recording notable gains on the back of their recent performance.

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is soaring 11% today to trade at $3.53. Its gain comes after the financial services provider posted an underlying net profit after tax (NPAT) of $234.5 million for financial year 2022. That represents a whopping 59% year-on-year improvement.

It also posted a $3.1 billion improvement in platform flows and an 11.8-cent final dividend.

The company’s CEO Renato Mato commented, saying:

Our results demonstrate we are pursuing the right strategy and implementing it with focused and accelerated execution.

The company, formerly known as IOOF, realised benefits of its recent acquisition of MLC. Integration of the business is now expected in 18 months, rather than the three years previously anticipated.

Viva Energy Group Ltd (ASX: VEA)

ASX 200 share Viva Energy is also trading in the green on the back of its half-year earnings today. The stock has gained 0.9% to trade at $2.815 at the time of writing.

The energy company posted $611.7 million of earnings before interest, tax, depreciation, and amortisation (EBITDA) – a 139% increase on that of the prior corresponding period. Its NPAT also lifted 218% to $355.4 million while its sales volumes rose 5%.

CEO and managing director Scott Wyatt commented:

Viva Energy’s diversified business model has continued to provide resilience to volatile market conditions. Exposure to global refining markets and a diverse range of commercial segments within Australia has provided significant growth and offsets softer conditions in the Retail market.

Cromwell Property Group (ASX: CMW)

Finally, shares in ASX 200 real estate and fund manager Cromwell are trading 0.25% higher at 79.2 cents. The stock is also gaining on the back of financial year 2022 earnings.

Cromwell CEO Jonathan Callaghan commented on the company’s results, saying:

I’m pleased to report a solid result, with management activities undertaken throughout the year focused on building the foundations for our renewed vision. We are fully committed to pivoting Cromwell to become a simpler and more capital efficient business with a greater focus on driving securityholder returns through funds and asset management

The company reported $568.8 million of revenue – a 4.4% year-on-year loss – as well as $263.2 million of profit – down 14.6%. Its full-year dividends also dropped by half a cent to 6.5 cents per share.

Speaking on its outlook, Callaghan said:

Similar to FY22, the current financial year will be one of change as we continue to simplify the business and focus on reallocating capital from non-strategic investments to new opportunities which will drive growth in our funds management platform.

The post 3 ASX 200 shares in the green following earnings updates appeared first on The Motley Fool Australia.

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• 3 ASX 300 financial shares climbing on earnings updates
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• ASX 200 energy shares mixed amid bearish oil price outlook

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 S&P/ASX 200 Financials Index (ASX: XFJ) is up 0.61% today, making a modest gain.

However, as the earnings season continues, some companies that are part of this index are far exceeding the average as they report their FY22 results.

Here are three ASX financial shares that are rallying today.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo Capital share price is up 7.13% to $1.31 at the time of writing. Earlier today, the shares reached a high of $1.335.

Judo Capital stated it exceeded forecasts for many of its key financial metrics in its FY22 results.

Its statutory net loss after tax was $7.7 million, beating its forecast of a $10.2 million loss. In FY21, it recorded a statutory net profit of $28.7 million.

Its net interest income also grew significantly during the reporting period, rising to $169.8 million, or a 101% increase.

The SME lending specialist also grew its lending portfolio to $6.1 billion. It forecasted a $6 billion growth in the prior period.

Judo Capital gave guidance for FY23, noting that gross loans and advances should reach approximately $9 billion. The company expects to benefit from rising interest rates in the near future.

No dividend was declared.

MA Financial Group Ltd (ASX: MAF)

The MA Financial share price is up 1.48% today. Shares in the ASX financial services group are trading for $6.19 each at the moment. Earlier, they reached an intraday high of $6.27 each.

MA Financial reported its 1H FY22 results this morning, noting strong top line and bottom line growth year over year (yoy).

Underlying revenue increased 54% to $146.2 million while underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 64% to $49.6 million. Its underlying net profit after tax (NPAT) grew 58% to $28.1 million.

MA Financial gave guidance for 2H FY22, noting that it expects earnings per share (EPS) growth of 30% to 40% from FY21. The company’s strong outlook is supported by its growth momentum, expected pipeline of fund inflows from clients, and its strong cash balance of $113 million to support strategy execution.

The company will pay a six-cent interim dividend per share for the reporting period. This is up 20% on the five cents paid in the prior corresponding period.

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is up 11.2% today. Shares in the ASX financial services company are trading for $3.53 at the time of writing. At the market open, the share price was $3.29.

Insignia Financial announced its full-year results for FY22 this morning. It reported notable increases in its gross margin and underlying earnings. Gross margin increased 102.8% to $1.48 billion, while EBITDA increased 71.9% to $388.5 million. Underlying profit after tax (UNPAT) surged to $244 million.

A fully franked dividend of 11.8 cents per share was announced for a payout ratio of 66% of UNPAT. The dividend has a record date of 8 September and a payment date of 29 September.

The company also announced its outlook for FY23, stating that gross margin is expected to contract between 1.5 to 2.5 basis points due to platform repricing and its product mix. However, the company’s EBITDA margin is expected to be in line with results observed in FY22 at 11 basis points.

The post 3 ASX 300 financial shares climbing on earnings updates appeared first on The Motley Fool Australia.

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• 5 ASX 300 shares this fundie has been buying at bargain prices

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

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The Anson Resources Ltd (ASX: ASN) share price is entering the stratosphere on Thursday.

This comes after the company announced it has ‘joined forces’ with a leading global direct lithium extraction (DLE) technology provider.

At the time of writing, Anson Resources shares are up 39.29% to an all-time high of 29.3 cents.

Anson Resources enters new partnership for Paradox Lithium-Bromine Project

Investors are fighting to get a hold of Anson Resources shares after digesting the company’s positive news today.

In its release, Anson Resources advised it has signed a binding Memorandum of Understanding (MoU) with Sunresin New Materials Co. Ltd.

Under the agreement, Sunresin will provide equipment, consumables, innovations, and technical support services to Anson Resources. This will allow Sunresin’s DLE technology to be constructed for the production of battery-grade lithium carbonate at the Paradox Project.

In return, Anson Resources will supply data related to the project, including results of the definitive feasibility study (DFS). 

There is no fixed term to the MOU, and either party is responsible for their own costs.

Furthermore, Anson Resources will have access to Sunresin’s distribution centres and technical support network in Asia and Europe.

Sunresin will also provide technology updates, innovations and support, including future expansions and optimisations.

Anson executive chair and CEO, Bruce Richardson commented:

We are delighted to announce the strategic partnership with Sunresin as our technology partner today. Sunresin’s DLE technology is the most attractive for the Paradox Lithium Project’s brine and meets our goal of producing the highest quality and cleanest lithium carbonate in the United States. We look forward to a long association with Sunresin.

Anson Resources share price snapshot

Not factoring in today’s record high, the Anson Resources share price has moved in circles over the last 12 months.

However, when looking at percentage terms, the share is up almost 200% when including today’s gain.

If you invested when its shares hit a year-to-date low of 7.6 cents on 23 June, you’d be up an astonishing 285%.

Based on today’s price, Anson Resources presides a market capitalisation of approximately $179.88 million.

The post Anson Resources share price rockets 39% on new lithium partnership appeared first on The Motley Fool Australia.

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• 3 ASX mining shares that went gangbusters on Monday
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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.

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It’s been a fantastic day so far for ASX shares and the S&P/ASX 200 Index (ASX: XJO). So far this Thursday, the ASX 200 has gained a pleasing 0.76% to around 7,050 points. But what is the Wesfarmers Ltd (ASX: WES) share price doing?

Wesfarmers shares are enjoying a similar experience to the overall market as it currently stands. The ASX 200 blue-chip retail conglomerate is presently trading at $47.68 a share, up 0.85% for the day so far.

So these gains could just be a consequence of the goodwill we see across the share market today. But it’s also possible investors are expecting good things from the company when it reports its full-year earnings for FY2022 tomorrow.

Yes, Wesfarmers is scheduled to give investors a look at its books tomorrow, 26 August. Optimism for these results might be stemming from some recent broker opinions on the company.

As my Fool colleague James covered earlier this month, ASX broker Morgans is expecting some good news.

Why are ASX 200 investors buying into Wesfarmers shares today?

The broker has a 12-month share price target of $58.40 on Wesfarmers shares today. If this were to be realised, it would result in a pleasing 22.7% upside from where the shares trade today.

Inflation is ravaging the fortunes of many ASX 200 shares in 2022. Just look at what is happening to the Woolworths Group Ltd (ASX: WOW) share price today, for example. But Morgans reckons Wesfarmers has “one of the highest quality retail portfolios in Australia” and a “highly regarded management team.”

As such, the broker thinks the company will be able to navigate the current challenging environment. In addition, Morgans is also expecting a final and fully franked dividend of 85 cents per share tomorrow.

If that is indeed announced, it would bring the company’s full-year dividend to $1.65 per share. Morgans is also pencilling in even better full-year dividends of $1.81 per share for FY23.

So given these bullish predictions, perhaps it’s no surprise investors are confident that tomorrow will be a good day for the company and its shareholders. But we shall have to wait and see what the company comes up with.

At the current Wesfarmers share price, this ASX 200 blue-chip share has a market capitalisation of $43.7 billion, with a dividend yield of 2.61%.

The post Wesfarmers share price edges higher ahead of Thursday’s results appeared first on The Motley Fool Australia.

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• Here’s what happened to the Wesfarmers share price last time the company reported
• Earnings preview: Here are 3 ASX 200 shares reporting this week
• Is the Wesfarmers share price in the buy zone ahead of next week’s earnings result?
• Why is the Wesfarmers share price smashing the ASX 200 today?
• Did you know you’re investing in lithium when you buy Wesfarmers shares?

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 positions in and has recommended Wesfarmers 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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The Pepper Money Ltd (ASX: PPM) share price is gaining another 10% to $1.67 in Thursday trading. It comes the day after the non-bank lender reported first-half full-year pro-forma net profits after tax up 11% to $73.1 million.

The company declared an interim fully franked dividend of 5.4 cents per share. When added to the final fully franked dividend of 9 cents per share, Pepper Money’s trailing 12-month total dividends are 14.4 cents per share.

The Pepper Money interim dividend will be paid to eligible shareholders on 14 October 2022. Pepper Money shares go ex-dividend on 14 September 2022. 

Based on the Pepper Money share price today, the stock trades on a trailing fully franked dividend yield of 8.8%. The company anticipates future dividend payments will be weighted equally between interim and final, reflecting the seasonality in the business.

Looking ahead, Pepper Money notes that since the Reserve Bank of Australia commenced interest rate rises in May 2022, the industry has experienced a decline in mortgage applications. The company says it is “well positioned to navigate the current challenging market conditions”.

Over the past 12 months, Pepper Money shares have lost 38%, compared to a fall of 6% in the S&P/ASX 200 Index (ASX: XJO). By contrast, fellow financial services company Money3 Corporation Limited (ASX: MNY) shares have slumped 33% in the last year.

The post Pepper Money shares continue to soar; trades on annualised 8.8% fully franked dividend yield appeared first on The Motley Fool Australia.

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Motley Fool contributor Bruce Jackson 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 Paladin Energy Ltd (ASX: PDN) share price is sizzling today, up 13.2%.

Paladin shares closed yesterday at 74 cents and are currently trading for 83 cents.

And it’s not just the Paladin share price rocketing higher. Most every ASX uranium share is smashing the benchmark today.

So, what’s going on?

What’s grabbing ASX investor attention today?

Japan’s prime minister Fumio Kishida announced yesterday that his nation will explore the development of next-generation nuclear power plants, with plans to reopen a number of closed plants by next northern summer.

And those plans look to be driving the Paladin share price skywards today.

As reported by Bloomberg, Japan’s government hopes to restart seven more nuclear reactors atop the 10 currently online. Japan has 33 potentially operational plants at the moment.

“Nuclear power and renewables are essential to proceed with a green transformation. Russia’s invasion changed the global energy situation,” Kishida said.

Japan heavily depends on gas, oil, and coal imports for its energy needs. And its nuclear generation was gutted following the tsunami that led to the Fukushima nuclear power plant disaster in March 2011.

Japan’s 10 nuclear plants that are currently online provided roughly 7% of the nation’s electricity needs in 2021. But the government appears determined to ramp that figure up.

And it’s not just Japan that may be adding to their nuclear capacity, driving demand for uranium and providing tailwinds for the Paladin share price.

According to the International Energy Agency (IEA), global nuclear capacity will need to double by 2050 to meet the IEA’s net zero scenario.

The IEA states:

Long-term operation of the existing nuclear fleet and a near-doubling of the annual rate of capacity additions are required.

While some of this additional nuclear capacity will not come online until the late 2030s, policy decisions are required now to put nuclear back on track.

Japan looks to be making those policy decisions this week.

Paladin Energy share price snapshot

Although it’s slipped 12% in 2022, the Paladin Energy share price remains up a healthy 70% over the past 12 months. By comparison, the All Ordinaries Index (ASX: XAO) is down 7% over the full year.

The post Why is the Paladin Energy share price rocketing 13% today? appeared first on The Motley Fool Australia.

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More reading

• Why are ASX uranium shares going gangbusters on Thursday?
• Here are the top 10 ASX 200 shares today
• Up 26% in a month, is the Paladin Energy share price on the comeback trail?
• The ASX shares with 30% to 50% upside: fundie
• Why did the Paladin Energy share price rocket 28% in July?

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 S&P/ASX 200 Index (ASX: XJO) is having a strong day on Thursday. In afternoon trade, the benchmark index is up 0.7% to 7,046.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are sinking:

City Chic Collective Ltd (ASX: CCX)

The City Chic share price has crashed 25% to $1.85. This morning City Chic released its full year results and revealed a 39% increase in revenue to $369.2 million and a modest increase in net profit after tax to $22.3 million. However, taking investors by surprise was the almost tripling of its inventory position and its negative cash flow.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down 5% to $16.47. Investors have been selling this travel agent’s shares following the release of its full year results. Flight Centre reported a 154% increase in revenue to $1 billion and an underlying loss after tax of $272.6 million. While this was in line with expectations, its performance in the Americas appears to have spooked investors. Goldman Sachs described its performance in the region as a “disappointment.”

Perpetual Limited (ASX: PPT)

The Perpetual share price is down 8% to $27.91. Investors have been selling this fund manager’s shares after it announced a new takeover approach for rival Pendal Group Ltd (ASX: PDL). Perpetual has offered one share and $1.976 for every 7.5 Pendal shares owned. This equates to an offer of $6.54 per share. Some investors appear to believe the company is overpaying.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price is down 4% to $35.99. This follows the release of the retail giant’s full year results for FY 2022. Woolworths reported a 9.2% increase in sales to $60,849 million and a modest 0.7% lift in net profit after tax to $1,514 million. This was largely in line with consensus estimates. A soft start to FY 2023 could be weighing on its shares.

The post Why City Chic, Flight Centre, Perpetual, and Woolworths shares are sinking appeared first on The Motley Fool Australia.

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More reading

• Everything you need to know about the latest Woolworths dividend
• Corporate Travel has resumed paying them, so when can we expect Flight Centre dividends?
• Woolworths share price wilts today amid ‘volatile and challenging’ outlook
• Flight Centre shares fall back to earth after $378 million loss
• Pendal share price soars 15% on takeover news

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

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