The 2022 financial year that has just wrapped up was a tough one for most ASX shares. FY2022 saw the All Ordinaries Index (ASX: XAO) lose around 11.05% of its value. But it was ASX tech shares that really took the brunt of investors’ selling proclivities over FY2022. While the All Ords took an 11.05% hit, the S&P/ASX All Technology Index (ASX: XTX) fell far harder, losing a painful 35% or so over the financial year.

So it might come as a surprise that there were many ASX tech shares that did very well over FY2022, outperforming both the All Ords and the All Tech index. Let’s check them out.

The 5 best ASX All Ords tech shares of FY2022

Our first All Ords tech share to check out is Reckon Limited (ASX: RKN). This accounting software company started FY2022 off at 95.5 cents per share but finished up at $1.20. That’s a rise worth a pleasing 25.65%. Shares of this company rocketed when it announced that it would be selling its Accountants Practice Management Group division back in May.

As we covered at the time, Reckon declared that it intended to sell this division to Access Group for $100 million, with the proceeds to be returned to shareholders. At the time, Reckon’s share price soared by more than 50%, and it has kept its new highs ever since.

Something old, something new…

Next up we have a stalwart of the ASX tech sector in Computershare Limited (ASX: CPU). Computershare has been around since the late 1970s and operates one of the largest share registries in the world. Many ASX investors would have used its services to manage their own portfolios.

Over FY2022, Computershare shares went from $16.90 to $24.64. That’s worth a gain of 45.8%. Investors can also add a couple of points there to account for this company’s dividend, which is currently sitting on a yield of just under 2%. It appears investors have stayed bullish on Computershare over FY2022 thanks to its established business model and a perceived ability to handle rising inflation.

Let’s now look at Brainchip Holdings Ltd (ASX: BRN). Artificial intelligence company Brainchip has been a popular share to watch in recent years, no doubt helped by its rather wild volatility. Over FY2022, Brainchip shares went as high as $2.34 and as low as 36 cents each.

However, its FY2022 numbers line up to give this company a gain of 63.27%, given it started July 2021 at 49 cents and finished on 30 June 2022 at 80 cents.

The tech share winners of FY2022 revealed

Our penultimate All Ords tech performer is none other than Envirosuit Ltd (ASX: EVS). Evirosuit is a company that provides environmental management solutions through its software platform. It started out in FY2022 trading at just 9 cents a share. But Envirosuit ended up finishing the year at 15.5 cents, resulting in a healthy 72.22% gain for investors.

In this case, a strategic partnership with international company Aeroqual, as well as another tie-up with the American space agency NASA, looks to have boosted investor confidence in this company over FY2022.

And our best performing All Ords tech share goes to… Silex Systems Ltd (ASX: SLX). Silex is an ASX tech share that specialises in uranium enrichment technology.

We saw Silex rise from 90 cents a share in July last year to $2.10 by the end of June. That’s a gain worth a whopping 133.33%. That put Silex Systems at an eight-year high by June.

In this case, Silex’s fortunes seem to have been boosted by the energy crisis that has gripped the world in 2022. This has been largely brought on by the Russia-Ukraine war, giving renewed focus to alternative sources of energy.

So that’s five of the best-performing ASX All Ords tech shares of FY2022. It just goes to show that even though most ASX tech shares had a disappointing year, diamonds can always be found in the rough.

The post Here’s a look at the 5 best ASX All Ords tech shares in FY22 appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Leading brokers name 3 ASX shares to buy today
• Becoming Australia’s biggest export failed to ignite ASX coal shares today
• Why I think these 2 ASX All Ords shares are at bargain prices in July
• 5 worst ASX energy shares of FY22
• 2 appealing ASX All Ords growth shares getting discounted 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.

from The Motley Fool Australia https://ift.tt/2NiMkjg

Financial year 2022 (FY22) was a good one for ASX energy shares as energy commodity prices soared amid global supply concerns. Still, some energy stocks had a better year than others.

A quick note before we start, this list only contains ASX shares included in the S&P/ASX 200 Energy Index (ASX: XEJ).

Here are the five best performing ASX energy shares of FY22:

• Whitehaven Coal Ltd (ASX: WHC)
  • Gained 148% to close FY22 at $4.84
• New Hope Corporation Limited (ASX: NHC)
  • Gained 93.5% to close FY22 at $3.46
• Viva Energy Group Ltd (ASX: VEA)
  • Gained 45% to close FY22 at $2.89
• Woodside Energy Group Ltd (ASX: WDS)
  • Gained 43% to close FY22 at $31.84
• Beach Energy Ltd (ASX: BPT)
  • Gained 39.5% to close FY22 at $1.73

As readers can see, coal stocks topped the lot last financial year, with Whitehaven and New Hope both outperforming. ASX oil shares filled the remainder of the top five spots.

Let’s take a look at what likely boosted those involved in the commodities’ shares in FY22.

What drove these ASX energy shares in FY22?

Coal producers led in FY22. Their strong performance likely came on the back of record coal prices.

The value of the black rock soared amid a commodity crunch sparked by Russia’s invasion of Ukraine and resulting sanctions on Russian energy commodities.

Perhaps partly a result, Australian coal overtook iron ore to become the nation’s biggest export in May.

Additionally, an energy crisis unfolded in Australia in June, likely putting some focus back on ASX coal shares.

Coal accounted for 54% of Australia’s electricity generation in 2020 and outages at coal fired power plants were partly to blame for the crisis that ultimately saw the Australian Energy Market Operator suspend the energy spot market last month.  

Oil shares received a boost for many of the same reasons last financial year amid surging oil prices.

Woodside’s milestone merger with BHP Group Ltd (ASX: BHP)’s petroleum assets also cast plenty of attention on the sector.

The post These were the 5 top performing ASX energy shares of FY22 appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why are Beach, Santos and Woodside share prices tumbling today?
• ASX 200 midday update: ANZ confirms MYOB talks, energy shares fall
• Why are ASX 200 energy shares underperforming today?
• Can the second half of 2022 be even better for the Woodside share price?
• How does the Woodside dividend compare to Santos over the last 5 years?

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.

from The Motley Fool Australia https://ift.tt/xgfMIL1

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.

Warren Buffett is considered by many to be the greatest investor ever. And it’s hard to argue against that when you see his continuous success throughout his career.

One of the best things about Buffett’s investment success is that he follows simple principles that even the newest investors can adopt. As the stock market enters into bear market territory, here are three ways to handle it like the Oracle of Omaha.

1. Use it as a chance to find value in the chaos

Ironically enough, uncertainty is one of the few certain things in the stock market. There’s daily volatility, bull markets, bear markets, and seemingly everything in between. As stock prices decline during bear markets, it’s easy to find yourself getting anxious watching your portfolio drop, but remember one key thing: Bear markets are all but inevitable. Historically, they have happened every four years or so, and there’s no reason to believe they’ll stop happening in the future. 

Buffett is the poster child for value investing; he always aims to buy investments when they’re priced lower than their true value. Instead of fearing bear markets, you can view them as a chance to grab some quality stocks at lower prices. If you liked a stock at $200 per share, you should love it at $150.

As Buffett once said, “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.” In other words, if a bear market happens and your favorite investments become drastically cheaper, use that to your advantage.

2. Don’t follow the masses

Buffett says investors should “be fearful when others are greedy, and greedy when others are fearful.” Generally, a bear market is a sign that investors are fearful because the increased selling of shares is what drives stock prices down. As people panic sell and drive stock prices down either further, you want to avoid a situation where you also panic sell. Not only can it spark a capital gains tax bill, you may also find yourself buying those same shares back later at a higher price.

While bear markets may make others fearful, it can be your chance to get greedy with your favorite investments.

3. Focus on the long term

You should always prioritize your long-term interests when investing. Unfortunately, it’s easy to let your emotions cause you to make short-term decisions that go against that — especially when you see your money seemingly decline right before your eyes. If you truly believe in an investment, you shouldn’t let short-term price declines discourage you, especially if nothing has fundamentally changed with the business.

Buffett’s thoughts on investing for the long term can be summed up with one of his quotes: “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” That doesn’t mean holding on to failing investments just for the sake of holding them, but it does mean if you’re making an investment, you should be doing so for the long-term potential and outlook.

In the grand scheme of things, bear markets are short-term happenings. Don’t let them throw you off your long-term plan. 

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

The post 3 ways to handle a bear market like Warren Buffett appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why is the Paradigm share price surging 7% today?
• Here’s why the Qantas share price is taking off today
• Top brokers name 3 ASX shares to buy today
• Why are Beach, Santos and Woodside share prices tumbling today?
• ASX 200 midday update: ANZ confirms MYOB talks, energy shares fall

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.

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

from The Motley Fool Australia https://ift.tt/ThQAqW4

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price is in the green on Wednesday following the company’s latest announcement.

At the time of writing, the biopharmaceutical company’s shares are fetching at $1.055 each, up 0.48%. Earlier in the session, the company’s share price hit $1.125, a surge of more than 7%.

What did Paradigm announce?

According to this morning’s announcement, Paradigm advised that it has entered into a corporate partnership with the US’s National Football League Alumni Health (NFLAH).

Under the collaboration, NFL Alumni Association (NFLAA) members will be informed about osteoarthritis (OA) and current treatment options. Furthermore, information will be provided to interested participants about actively enrolling in OA clinical trials throughout the United States.

The NFL’s Alumni Association has more than 10,000 members which consist of former NFL players, coaches, executives, spouses, cheerleaders, and associate members.

Paradigm is seeking to unlock the potential benefits of pentosan polysulfate sodium (PPS) for the treatment of musculoskeletal disorders.

Paradigm’s leading drug candidate Zilosul is used to treat OA, a progressive disease that affects more than 240 million people globally.

The injectable PPS treatment has previously shown improvements in pain reduction, joint function, and the prevention of cartilage damaging joints.

It seems investors are excited about the company expanding its access program for the potential treatment of OA, sending the Paradigm share price higher.

Paradigm CEO Marco Polizzi commented:

Having followed the progress of the expanded access program participants and hearing first-hand the positive impact Zilosul has had on their lives, Paradigm is honoured to be able to continue to work with NFL Alumni members to inform them of the onset and progression of osteoarthritis and Paradigm’s clinical progress through phase 3 as we strive to bring Zilosul to commercialisation for the millions suffering from the debilitating effects of OA.

About the Paradigm share price

The Paradigm share price is down 48% in the past 12 months with most of these losses in the year to date.

The company’s shares reached a 52-week low of 85.5 cents a share in late June before rebounding over the past two weeks.

Based on the current share price, Paradigm has a market capitalisation of around $236 million.

The post Why is the Paradigm share price surging 7% today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ASX 200 healthcare shares provided some pain relief today. Here’s why
• Why is the Paradigm share price rocketing 20% higher today?
• Leading brokers name 3 ASX shares to buy today

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.

from The Motley Fool Australia https://ift.tt/L4czRUT

The Qantas Airways Limited (ASX: QAN) share price is lifting off today.

Qantas shares closed yesterday trading for $4.24 and are currently trading for $4.42, up 4.1% at the lunch hour.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has dipped back into the red, down 0.1%.

So, why is the Qantas share price outperforming?

Vaccine mandates and crude prices

The flying kangaroo looks to be getting a boost on two fronts.

First, the Qantas share price has faced some headwinds in recent months as crude oil prices topped US$120 per barrel. That’s seen the costs of jet fuel – one of the biggest costs airlines incur – soaring.

But crude oil has been retracing amid speculations of a pending global economic slowdown driven by new potential COVID lockdowns in China and a recession fear in the United States. Brent crude fell again overnight and is currently trading for US$99.06 per barrel, down from US$122.27 just one month ago.

Also potentially lifting the Qantas share price today is news that the airline will scrap its COVID-19 vaccine requirements for international travellers commencing next week.

According to the internal note it sent to staff (courtesy of The Australian Financial Review):

From Tuesday 19 July 2022 we will no longer require passengers on international flights operated by the Qantas Group to be fully vaccinated with a COVID-19 vaccine.

This change follows consultation with WHS [Work Health and Safety] representatives across the group. It is also in line with the Federal Government’s announcement that international visitors are no longer required to be fully vaccinated against COVID-19.

The Federal Government removed the requirement for international travellers to be vaccinated last week, based on advice from the country’s chief medical officer.

Qantas share price snapshot

Today’s boost trims the Qantas share price losses for 2022 to 14%, slightly underperforming the 13% year-to-date loss posted by the ASX 200.

The post Here’s why the Qantas share price is taking off today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ASX 200 travel shares slide amid travel chaos and cancellations
• How did ASX 200 travel shares go in FY22?
• Expert names ASX share that could fly 67% higher
• Qantas share price slides as engineers plan strike action
• Why did the Qantas share price outperform the ASX 200 in FY22?

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.

from The Motley Fool Australia https://ift.tt/m3TKL9u

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

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

Baby Bunting Group Ltd (ASX: BBN)

According to a note out of Morgans, its analysts have retained their add rating but cut their price target on this baby products retailer’s shares to $5.00. While the broker has reduced its estimates slightly to reflect tough trading conditions due to rising living costs, it remains positive on Baby Bunting. This is due largely to the defensive nature of baby goods and potential market share gains. The Baby Bunting share price is trading at $4.41 on Wednesday.

CSL Limited (ASX: CSL)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $312.00 price target on this biotherapeutics company’s shares. Morgan Stanley has echoed recent comments from other brokers regarding plasma collection levels returning to pre-COVID levels again. Its analysts believe this bodes well for CSL’s outlook. The CSL share price is fetching $292.49 on Wednesday afternoon.

IDP Education Ltd (ASX: IEL)

Analysts at Goldman Sachs have retained their buy rating and $35.50 price target on this language testing and student placement company’s shares. This follows the release of data which shows that student visa levels are now at almost 75% of pre-COVID levels in Australia. Goldman expects this to continue and reach 100% in FY 2023. All in all, the broker sees IDP as a structural growth story as international student markets open up. The IDP share price is trading at $24.84 today.

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

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• $264 million! The 10 highest-paid CEOs on the ASX
• Why this broker says the IDP Education share price can rise almost 50%
• 5 things to watch on the ASX 200 on Wednesday
• What are brokers saying about the CSL share price?
• What’s the outlook for ASX biotech shares in FY23?

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 CSL Ltd. and Idp Education Pty Ltd. The Motley Fool Australia has recommended Baby Bunting. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/1QLtyer

Energy producers Santos Ltd (ASX: STO), Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS)

The Beach Energy share price is sliding 1.33% today, while the Woodside share price is descending 1.71%. Meanwhile, Santos shares are down 1.22%.

The Woodside share price fell 2.9% in earlier trade before recovering some of these losses. Santos shares also dropped 2.86% and Beach fell 3.56% before pulling back.

Let’s take a look at what is impacting these companies today.

Oil prices fall

Santos, Woodside and Beach Energy are all major oil producers. Oil prices plunged more than 7% overnight amid China COVID-19 restrictions, US inventory build up and the potential for more supply.

Brent crude oil prices fell 7.1% to $99.49 a barrel, while West Texas Intermediate (WTI) oil plunged 7.9% to $95.84 a barrel on Tuesday in the US, the New York Times reported.

Oil prices continued to fall in early trading in Asian markets on Wednesday. Reuters reported COVID-19 restrictions in China and US inventory build-up were contributing to this fall. Crude oil stocks jumped by 4.8 million barrels last week, the publication reported.

In a research note this morning, ANZ economist Madeline Dunk explained “concerns about demand increased amid the prospects of an economic slowdown and growing COVID-19 cases in China.”

Commenting on the tumbling crude oil price, she added:

The pessimistic outlook for oil was compounded by the prospect of more supply.

US President Joe Biden is scheduled to visit Saudi Arabia this week during a tour of the Middle East. He’s expected to ask the oil producer to increase production.

Brent Crude oil prices are now recovering according to Bloomberg, up 0.17%. Meanwhile, WTI crude oil prices are still down 0.07%.

Share price summary

The Woodside share price has soared nearly 39% year to date, while Santos shares have jumped 9%. Beach Energy shares have leapt 32% so far this year.

Woodside has a market capitalisation of nearly $57 billion, while Santos has a market cap of about $23 billion compared to $3.8 billion for Beach Energy.

The post Why are Beach, Santos and Woodside share prices tumbling today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ASX 200 midday update: ANZ confirms MYOB talks, energy shares fall
• Why are ASX 200 energy shares underperforming today?
• Is the Santos share price in bargain territory for FY23?
• Can the second half of 2022 be even better for the Woodside share price?
• How does the Woodside dividend compare to Santos over the last 5 years?

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 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.

from The Motley Fool Australia https://ift.tt/IaX26rm

At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. The benchmark index is currently down 0.15% to 6,595.5 points.

Here’s what is happening on the ASX 200 today:

Energy shares tumble

The energy sector is in the red on Wednesday with Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) shares posting declines after oil prices crashed overnight. According to Bloomberg, the WTI crude oil price was down 8% to US$95.64 a barrel and the Brent crude oil price sank 7.5% to US$99.10 a barrel. Demand concerns weighed heavily on oil prices.

ANZ confirms MYOB talks

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is the worst performer among the big four on Wednesday. Investors appear to have responded negatively to confirmation that the bank is in talks to acquire accounting platform MYOB from KKR. No agreement has been reached and no details have been provided in respect to what the acquisition could cost.

Tech shares rebound

The tech sector is bouncing back after a terrible performance on Tuesday. The likes of Megaport Ltd (ASX: MP1) and Xero Limited (ASX: XRO) are recording decent gains at the time of writing. This is helping to drive the S&P ASX All Technology index 1% higher at lunch.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Megaport share price with a 6% gain. Earlier this week Goldman Sachs reiterated its buy rating with a $9.00 price target on Megaport’s shares. Going the other way, the worst performer has been the Zip Co Ltd (ASX: ZIP) share price with a 4% decline. This morning UBS retained its sell rating and 45 cents price target on the company’s shares. It believes that significant uncertainty remains despite its merger termination.

The post ASX 200 midday update: ANZ confirms MYOB talks, energy shares fall appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why are ASX 200 energy shares underperforming today?
• ANZ share price drops amid MYOB takeover talks
• This broker sees 30% upside for the Xero share price over the next year
• Can the second half of 2022 be even better for the Woodside share price?
• How does the Woodside dividend compare to Santos over the last 5 years?

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 MEGAPORT FPO, Xero, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/2cnyWPE

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.

It’s easy to hate Netflix (NASDAQ: NFLX) these days, and the disdain is gushing on Wall Street. A pair of analysts are talking down the near-term prospects of the leading premium streaming service on Tuesday. Is this really the right time to be pessimistic instead of opportunistic?

Sure, Netflix isn’t at its best these days. The company has fallen short of its own subscriber guidance in three of the past five quarters. The stock is down 71% this year and off 75% since hitting all-time highs last November. We’ve seen layoffs, and its audience is shrinking through the first half of this year. It’s a problematic look all around and hard to get excited heading into next week’s earnings report after Netflix has served a few quarterly report duds lately. 

Bear with me. There’s still time for a Hollywood ending.

Climbing the Wall Street of worry 

Two major Netflix analysts are putting out downbeat notes on Tuesday, specifically targeting next Tuesday’s quarterly update as a potential pressure point.

Benjamin Swinburne at Morgan Stanley is slashing his price target from $300 to $220 ahead of the report. He feels that the Wall Street consensus for next week’s update — in terms of net subscriber additions and margins — isn’t factoring in the negative headwinds that are driving consumers away from spending on streaming video services. It’s a foregone conclusion that Netflix will shed a lot of subscribers in next week’s report, but Swinburne expects stubborn churn rates and the rising US dollar to hold back the former market darling’s chances to turn things around in the second half of this year. He’s sticking to his neutral equal-weight rating. 

Nat Schindler at Bank of America is even less enthusiastic. He’s sticking to his underperform rating and his $196 price target, but his latest analyst note points out that leading data doesn’t bode well for the platform’s engagement levels. He sees a soft quarter for net subscribers.

Netflix itself warned in April that it expects to post a sequential decline of 2 million streaming subscribers worldwide for the period. Like Swinburne, Schindler feels that some analyst targets are too high. He fears that guidance next week for the third quarter could call for less than 2.2 million net subscriber adds that his fellow analysts are forecasting for the third quarter. 

Sentiment has clearly soured on Netflix. The company that used to routinely offer conservative guidance has aimed too high lately. It’s no longer fashionable to bet on a stock surge the day after it posts fresh financials. The contrarian take here is that a hungry Netflix will be a better Netflix. 

Netflix isn’t at its best right now, but it’s still a kingmaker of content. How else can you explain how the latest season of Stranger Things — broken out into two parts in late May and early July — catapulted not one, but two decades-old songs to the top of the music charts? Kate Bush’s “Running Up That Hill” was a digital chart-topper last month, and earlier this month, Metallica’s “Master of Puppets” proves that folks are still leaning on their Netflix subscriptions. 

It’s also not as if Netflix is standing still. It has already gone public with plans for cheaper ad-supported tiers and enhanced gaming initiatives. We’re seeing reports of everything from theatrical distribution ahead of popular films to breaking up release schedules of popular shows to keep fans from binging and cancelling.

You can teach a new media giant some old media tricks, and there’s no platform visibly challenging Netflix’s dominance as the leader of streaming service stocks. The stock is down, and the same can be said about analyst heads as we dredge our way to next week’s report. Let’s not assume that Netflix doesn’t know what it’s doing.

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

The post Betting against Netflix now could be a big mistake appeared first on The Motley Fool Australia.

(function() { function setButtonColorDefaults(param, property, defaultValue) { if( !param || !param.includes(‘#’)) { var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0]; button.style[property] = defaultValue; } } setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’); setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’); setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’); })()

More reading

• Should you invest in stocks right now? These 2 charts say yes
• Better bear market buy: Netflix vs Amazon
• 3 reasons Netflix should bounce back in July
• 4 potential winners from Netflix’s advertising plans
• 2 oversold stocks to buy in the Nasdaq bear market

Rick Munarriz has positions in Netflix. Bank of America is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Netflix. The Motley Fool Australia has recommended Netflix. 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.

from The Motley Fool Australia https://ift.tt/DzfGy7w

The Regional Express Holdings Ltd (ASX: REX) share price isn’t going anywhere on Wednesday.

This comes after the company requested a trading halt at market open.

As such, the airline operator’s shares are frozen at $1.215.

Why are REX shares in a trading halt?

The Regional Express share price entered a trading halt this morning pending an important announcement from the company.

In a statement to the ASX, Regional Express advised it is preparing to make a material announcement.

While the company has provided no further details, speculation is rife on what the release could be.

Regional Express states its shares will remain in a trading halt until an official announcement is made or trade commences on Friday 15 July.

Just yesterday, Regional Express responded to recent news articles regarding its interest in acquiring Cobham Aviation’s fly-in-fly-out (FIFO) operations.

The news sent Regional Express shares as high as $1.25 on the day before backtracking as the broader S&P/ASX 200 Industrials Index (ASX: XNJ) fell (0.37%).

Investors appear to be bracing for the June inflation report to come out of the United States tonight. In addition, the US domestic jobs data is due to come out on Thursday. This will give a clearer picture of the health of the United States economy.

Regional Express share price summary

Since this time last year, the Regional Express share price has moved in circles.

However, in 2022, the company’s shares paint a different picture for investors, down almost 12%.

Regional Express presides a market capitalisation of $133.83 million with approximately 110 million shares on its registry.

The post Why is the Regional Express share price in a trading halt today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Regional Express shares hold steady amid response to fly-in fly-out takeover speculation
• Why this smaller ASX travel share is locking horns with Qantas over regulation
• These 2 ASX travel shares are tying the knot for the next 10 years
• Why is this ASX travel share flying higher today?

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.

from The Motley Fool Australia https://ift.tt/qaTGe6W