If you’re a fan of growth shares, then you may want to look closely at the two shares listed below.

Here’s why these could be growth shares to buy:

Altium Limited (ASX: ALU)

The first growth share for investors to consider buying is Altium. It is an electronic design software provider behind the Altium 365 and Altium Designer platforms. These platforms are the leaders in their field and are now aiming to dominate their market. A testament to their quality is that they are used by companies such as Tesla, BAE Systems, Amazon, Facebook, and Dell.

And given the way the Internet of Things (IoT) and AI markets are underpinning an explosion of electronic devices globally, demand for electronic design software is expected to continue to grow at a strong rate for a long time to come. This bodes well for Altium thanks to its leadership position.

The team at Bell Potter is bullish on Altium and believes it could outperform its guidance in FY 2022. It currently has a buy rating and $40.00 price target on the company’s shares.

Megaport Ltd (ASX: MP1)

Another ASX growth share that could be in the buy zone is this leading cloud connectivity and networking solutions provider.

Megaport has been growing at a solid rate for a number of years. This has been driven by its first mover advantage in a market benefiting from two long-term structural tailwinds. These are the adoption of public cloud (and multi-cloud usage) and the transition towards Networking as a Service (NaaS).

The good news is that these structural tailwinds will be blowing for some time to come, giving Megaport a significant market opportunity to grow into. In fact, the team at Goldman Sachs notes that it has exposure to $129 billion per annum spent on fixed enterprise networking across its current geographies.

It is for this reason that the broker recently initiated coverage on Megaport with a buy rating and $20.00 price target.

The post 2 buy-rated ASX growth shares with big futures appeared first on The Motley Fool Australia.

More reading

• Own Altium (ASX:ALU) shares? Here’s what to expect from its half year results
• Are ASX growth shares still worth holding in 2022?
• 2 quality ASX 200 tech shares with ‘years of growth’ ahead: broker
• Goldman Sachs names 2 ASX 200 shares with major upside potential
• 2 ASX tech shares we’re backing through the turmoil: analysts

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. owns and has recommended Altium and MEGAPORT FPO. 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 Bruce Jackson.

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The AMP Ltd (ASX: AMP) share price was in the green today amid news of a potential buyer for its capital arm.

The wealth management company’s shares finished the day at $1.02, a 1.49% gain.

Let’s take a look at what is happening at AMP.

Potential buyer for demerged brand

Singapore-based real estate company CapitaLand is looking at buying AMP’s Capital Private Markets business, The Australian reported.

CapitaLand is one of the biggest diversified real estate groups in Asia. The company’s influence spans more than 250 cities in over 30 countries. While its largest markets are in Singapore and China, it is also looking to expand to Australia, Europe, and the United States.

EIG is also reportedly looking into AMP’s capital spin-off with the help of JP Morgan. If EIG took over the management rights of the demerged business’s infrastructure funds, an Australian-listed real estate trust could look after the property funds.

As my Foolish colleague Bernd reported this week, AMP is planning to demerge AMP Capital Private Markets into a standalone business. In the company’s FY21 full-year results reported last week, AMP indicated the demerger is on track for completion within the first half of this year.

The new business will be known as Collimate Capital. The leadership team for this spin-off has already been established and it is due to list on the ASX in the second half of this year.

AMP reported an underlying net profit after tax (NPAT) of $356 million in FY21, a 53% boost on FY20. However, it also reported a statutory NPAT loss of $252 million.

AMP share price snapshot

The AMP share price has climbed about 1% year to date but has fallen more than 24% in the past 12 months.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned around 5% over the last year.

AMP has a massive market capitalisation of around $67 billion based on today’s share price.

The post AMP (ASX:AMP) share price lifts as new suitor for capital arm emerges appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Wednesday
• Here’s why AMP (ASX:AMP) shares are set for a transformation
• Top brokers name 3 ASX shares to sell next week
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, AVZ, Megaport, and NAB shares are pushing higher

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 Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) finished the week on a sour note as investors shied away from risk assets amid the Ukraine-Russia standoff. At the end of the session, the benchmark index finished 1.02% lower at 7,221.7 points.

Not a single sector in the green could be found on Friday afternoon. The best of the disastrous bunch were materials, benefiting from an influx of buying across gold miners. Still, the materials sector finished 0.17% lower, carrying the weight of underperforming iron ore producers. Meanwhile, the worst of the damage could be seen across the healthcare and tech sectors.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Magellan Financial Group Ltd (ASX: MFG) was the biggest gainer today. Shares in the funds management company took flight, soaring 18.45% after reporting a better than expected first-half result. Find out more about Magellan Financial Group here.

The next biggest gaining ASX share today was Netwealth Group Ltd (ASX: NWL). The financial platform provider rallied 5.71% despite there being no announcements released today. Although, the company experienced a substantial fall in its share price two days earlier on its own half-year figures. Uncover the latest Netwealth Group details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Magellan Financial Group Ltd (ASX: MFG)	$21.70	18.45%
Netwealth Group Ltd (ASX: NWL)	$14.06	5.71%
Whitehaven Coal Ltd (ASX: WHC)	$3.14	3.97%
Yancoal Australia Ltd (ASX: YAL)	$3.34	2.45%
Latitude Group Holdings Ltd (ASX: LFS)	$2.04	2.26%
Newcrest Mining Ltd (ASX: NCM)	$24.36	2.14%
Mercury NZ Ltd (ASX: MCY)	$5.66	1.98%
AVZ Minerals Ltd (ASX: AVZ)	$0.805	1.90%
GPT Group (ASX: GPT)	$4.95	1.85%
Uniti Group Ltd (ASX: UWL)	$3.89	1.83%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: QBE sinks but Magellan rockets
• This is how long the average investor holds onto their shares
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX shares today
• 2 ASX dividend shares with BIG yields

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Netwealth. The Motley Fool Australia owns and has recommended Netwealth. The Motley Fool Australia has recommended Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Thursday night to discuss the latest unemployment numbers, tensions in Ukraine, and disappointing results for the Telstra Corporation Ltd (ASX: TLS) and Wesfarmers Ltd (AS X:WES) share price.

The post Telstra, Wesfarmers, oil and unemployment: Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

More reading

• Why ‘dependable and reliable dividend payers’ could be the antidote to current volatility: expert
• Brokers name 3 ASX shares to buy today
• Are TPG Telecom (ASX:TPG) shares gearing up for a demerger?
• Own Wesfarmers (ASX:WES) shares? Here’s all you need to know about the latest dividend
• Brokers give their verdict on the Telstra (ASX:TLS) share price post-results

Motley Fool contributor Scott Phillips owns Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Although it has pulled back on Friday, the Woodside Petroleum Limited (ASX: WPL) share price has been on fire in 2022.

Since the start of the year, the energy producer’s shares have risen over 20%.

Can the Woodside share price keep rising?

The good news for investors is that one leading broker still believes the Woodside share price can rise further.

According to a note out of Morgans, this morning the broker has retained its add rating and put a $30.35 price target on its shares. Based on the current Woodside share price, this implies potential upside of 10% for investors over the next 12 months.

In addition, the broker is expecting a $1.29 per share dividend in FY 2022. If you include this, the total potential return increases to an even more attractive 15%.

What did the broker say?

Morgans was impressed with Woodside’s full year results, which came in well ahead of its expectations.

It commented: “WPL posted FY21 underlying NPAT of US$1,620m (+262% pcp), close to our estimate of US$1,568m but beat consensus of US$1,412m by a handsome +18%.”

But the real reason the broker is bullish on Woodside is its impending merger with the petroleum assets of BHP Group Ltd (ASX: BHP).

The broker explained: “While merger completion is still ~4 months away, we maintain the conviction view that this transformative deal will vastly enhance WPL’s fundamentals and represents material valuation upside risk to current consensus. It will be interesting to see how quickly WPL sinks its teeth into BHP’s growth assets, especially with its large Trion field in the southern Gulf of Mexico due for FID around mid-2022.”

And while Morgans notes that the Woodside share price has risen strongly this year, it still sees room for it to keep rising. In fact, it suspects it could even go beyond its price target.

Morgans concludes: “The recent rise in WPL’s share price has, in our view, been the unfolding of a ‘catch up’ re-rating. Something we have been expecting since WPL/BHP announced the merger and Brent oil pushed through $80/bbl. We expect WPL to make further ground on our $30.35 target price, which still faces further upside risks as the merger progresses and upcycle extends. We maintain our Add rating.”

The post Broker says Woodside (ASX:WPL) share price can keep rising appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• 3 ASX 200 shares hitting 52-week highs today
• ASX 200 energy shares to become ‘cash machines’: broker
• Why Challenger, CSL, NRW, and Woodside shares are pushing higher
• ASX 200 (ASX:XJO) midday update: Telstra, Wesfarmers, and Woodside report

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 Bruce Jackson.

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In late trade, the S&P/ASX 200 Index (ASX: XJO) is ending the week on a disappointing note. At the time of writing, the benchmark index is down 0.6% to 7,252.5 points.

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

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 3% to $19.90. Investors have been selling this mining giant’s shares since the release of its half year results. Unfortunately, the team at Goldman Sachs believe the company’s shares could continue to slide. Its analysts have put a sell rating and $14.70 price target on its shares.

Goodman Group (ASX: GMG)

The Goodman share price is down 3.5% to $23.17. This decline may have been driven by a broker note out of Ord Minnett. According to the note, the broker has downgraded the integrated property company’s shares to a hold rating with a $25.00 price target. Its analysts made the move on valuation grounds.

Inghams Group Ltd (ASX: ING)

The Inghams share price is down 5% to $3.36. This follows the release of the poultry company’s half year results. For the six months ended 31 December, Inghams reported a 5.9% increase in underlying net profit after tax to $39.7 million. This fell short of the consensus estimate of a net profit of $41.9 million.

QBE Australia Group Ltd (ASX: QBE)

The QBE share price is down over 8% to $11.59. Investors have been selling the insurance giant’s shares after its full year results fell short of expectations. For the 12 months ended 31 December, QBE delivered a 25.7% increase in gross written premium to US$18,453 million and an adjusted net cash profit after tax of US$805 million. The latter was short of the market consensus estimate of US$870 million.

The post Why Fortescue, Goodman, Inghams, and QBE shares are dropping appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today
• What is a supercycle and are ASX 200 mining shares at the start of one?
• ASX 200 (ASX:XJO) midday update: QBE sinks but Magellan rockets
• Inghams (ASX:ING) share price slumps 5% amid continued COVID impacts
• QBE (ASX:QBE) share price sinks 9% on FY21 earnings miss

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 Bruce Jackson.

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It’s a rough week for ASX buy now, pay later (BNPL) shares amid news from the United Kingdom.

The nation’s financial watchdog asked Openpay Group Ltd (ASX: OPY) and Laybuy Holdings Ltd (ASX: LBY) to change “potentially unfair and unclear” terms in their contracts on Monday.

Let’s take a closer look at what might have weighed on some ASX BNPL shares this week.

Has this UK watchdog impacted ASX BNPL shares this week?

4 BNPL companies operating in the United Kingdom – 2 of which are listed on the ASX – were addressed by the nation’s Financial Conduct Authority (FCA) over concerns regarding their terms and conditions.

Laybuy, Openpay, Klarna, and Clearpay all voluntarily changed their contracts and refunded customers impacted by the ‘unfair’ terms this week.

FCA executive director of consumers and competition, Sheldon Mills said the body can’t regulate BNPL firms yet, but it can hold them to other standards.  

“The 4 BNPL firms we have worked with have all voluntarily agreed to change their approach,” Mills said. “We welcome this and hope that the rest of the industry will now follow.”

One issue flagged by the watchdog was how the BNPL companies dealt with returned purchases.

It stated some customers had been forced to continue payments or charged late fees if a retailer took their time when reporting a return to a BNPL provider.

Additionally, the FCA found that the BNPL providers’ terms and conditions allowed too much leeway when cancelling or suspending accounts and didn’t let customers deduct money owed by the provider from their debts.

Finally, it was worried the contracts didn’t clearly state how customers can cancel a provider’s ability to take money from their debt or credit cards.

According to reporting by the Guardian, an Openpay spokesperson said the company welcomed the FCA’s insights and would welcome “fair and appropriate regulation” in the United Kingdom.

The publication also stated Laybuy has flagged its preference for direct regulation from the FCA.

What else might have weighed on the BNPL sector?

Other news that could have dragged on ASX BNPL shares this week include interest rate fears and the technology sector’s performance.

As The Motley Fool Australia chief investment officer Scott Phillips told Nine’s Late News on Sunday, markets have been concerned about rising inflation, which could drive up interest rates.

As previously reported by The Motley Fool Australia’s Zach Bristow, rising interest rates are generally bad news for the tech sector, within which BNPL shares are often grouped.

Additionally, the tech-heavy Nasdaq Index has slumped 3% over the last 5 sessions.

The S&P/ASX 200 Info Tech Index (ASX: XIJ) has also slumped 1% this week while the S&P/ASX All Technology Index (ASX: XTX) has fallen 1.4%.

For comparison’s sake, the S&P/ASX 200 Index (ASX: XJO) has gained 0.3% in the same time frame.

How have BNPL stocks performed this week?

While the news from the northern hemisphere may not have impacted the share price of both Openpay and Laybuy, they’ve both ended this week in the red.

The share price of Openpay has tumbled 4% since Monday, while that of Laybuy has plummeted 25%.

And while neither Zip Co Ltd (ASX: Z1P) nor Sezzle Inc (ASX: SZL) were involved in the FCA’s findings, their share prices have fallen 8% and 11% respectively this week.

The Block Inc CDI (ASX: SQ2) share price has suffered the least. The owner of Afterpay has seen its ASX-listed stock slide just 1%.

Looking to the United States’ markets, the Affirm Holdings Inc (NASDAQ: AFRM) share price has slipped 29% over the last 5 sessions.

Meanwhile, that of Paypal Holdings Inc (NASDAQ: PYPL) has tumbled 12%.

The post What’s going so wrong for ASX BNPL shares this week? appeared first on The Motley Fool Australia.

More reading

• The ASX 200 is awash with 52-week lows on Friday. Here are some of the biggest names growing smaller
• Down 80% in a year: Can the Zip (ASX:Z1P) share price sink any lower?
• Why Block, Domain, Telstra, and Wesfarmers shares are dropping
• How did ASX tech shares perform today?
• Why is the Block (ASX:SQ2) share price squaring away such healthy gains today?

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. owns and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has recommended PayPal Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Given Trevor St Baker’s long list of green investments, including ASX battery share Novonix Ltd (ASX: NVX), onlookers are dumbfounded as to why the billionaire is pushing for a 20-year extension of a coal-fired power station.

The move made by the billionaire investor comes a day after Origin Energy Ltd (ASX: ORG) announced its plans to bring forward the closure of Australia’s largest coal-fired power station by seven years to 2025.

Origin wants to close Eraring power station — which supplies a fifth of NSW’s energy — as renewables increasingly challenge the viability of coal.

So, why is St Baker seemingly ‘switching sides’ against fossil fuels now?

Expecting an energy shortfall

The founder and deputy chair of the St Baker Energy Innovation Fund has announced plans to buck the current power station trend.

Unlike Origin Energy and AGL Energy Limited (ASX: AGL), St Baker will be pushing for the Vales Point power station, which he is co-owner of, to stay open for an additional 20 years. This would see the Lake Macquarie coal-fired power station keep its turbines running until 2050.

This development is somewhat peculiar considering a large portion of the investor’s wealth is tied up in companies with decarbonisation qualities. For example, between St Baker and his fund, over $361 million is backing ASX battery technology share Novonix.

On top of that, the fund holds 31.5 million shares in recently listed electric vehicle fast-charging company, Tritium DCFC Limited (NASDAQ: DCFC). This stake would be worth around A$365 million based on the current Tritium share price.

However, the successful businessman is adamant the early retirement of coal-fired power stations is cause for concern.

St Baker said:

There is no way Australian industry can survive these rapid-fire closure announcements. These power stations should stay in service at least until their retirement dates so we can have a smooth transition in the market.

The above sentiment is also shared by federal energy minister Angus Taylor. Following the announced early retirement plans of Eraring station, Taylor said:

This risks higher prices, like the 85 per cent increase we saw after the closure of the Hazelwood Power Station, and a less reliable grid.

Could it be Déjà vu?

One of Trevor St Baker’s biggest windfalls occurred outside of ASX shares. Instead, it involved him partnering up with Brian Flannery to buy Vales Point back in 2015 for a poultry $1 million. At the time, the power station was considered worthless.

Soon after that, in 2017, the value soared to $732 million thanks to the closure of Hazelwood power plant. The closure resulted in a tighter energy market and improved wholesale electricity prices. The plant’s value is believed to have fallen again since 2017.

St Baker might be hoping history repeats itself with the NSW market set to lose one of its biggest electricity suppliers.

Hard times for St Baker’s stake in ASX share

In 2021, St Baker watched his wealth explode as the Novonix share price skyrocketed 659%. However, the company hasn’t had such a great start to the year in 2022.

Despite listing on the Nasdaq and securing a supply agreement with KORE Power, the Novonix share price has tumbled 47%.

The post Why this billionaire ‘green’ ASX share investor is pushing for 20 more years of coal appeared first on The Motley Fool Australia.

More reading

• Why is the Incitec Pivot (ASX:IPL) share price sinking 6% today?
• Why Core Lithium, Humm, Magellan, and Smartgroup shares are storming higher
• ‘World-class’ deposits: Why the Core Lithium (ASX:CXO) share price is rocketing 8% today
• Avita (ASX:AVH) share price jumps 6% following FDA approval
• Why ‘dependable and reliable dividend payers’ could be the antidote to current volatility: expert

Motley Fool contributor Mitchell Lawler 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 Bruce Jackson.

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The Incitec Pivot Ltd (ASX: IPL) share price is seeing red today. This comes after an incident at the company’s ammonia plant in the United States.

At the time of writing, Incitec Pivot shares are trading 5.83% lower at $3.07 apiece.

So what did the industrial chemicals and fertiliser manufacturer announce? Let’s find out…

Plant operations halted

In a brief announcement released to the ASX this morning, Incitec Pivot disclosed a release of hydrogen from its Waggaman ammonia plant in Louisiana, US.

Operations at the plant have paused while the company conducts necessary investigations.

First and foremost, Incitec Pivot has found “no chemical releases to the environment or any offsite impacts” from the event.

The company also assured that no personnel had been physically injured.

It is now focused on searching for the cause of the hydrogen release. Once obtained, a re-start date will be established and released to investors.

Incitec Pivot share price snapshot

Over the last 12 months, the Incitec Pivot share price has increased by almost 20%. However, it is down around 12% over the past month and 5% this year to date.

Shares crumbled to a 52-week-low of $2.21 in May last year not long after the company released its previous half-year results.

However, shares climbed to a high of $3.67 last month, following the company’s announcement that it was to acquire an explosives manufacturer.

This news was also greeted positively by analysts at Morgan Stanley, who retained their overweight rating and $4.30 price target.

The company has a market capitalisation of $6.33 billion. It has a price-to-earnings (P/E) ratio of 42.02 and a dividend yield of 2.87%.

The post Why is the Incitec Pivot (ASX:IPL) share price sinking 6% today? appeared first on The Motley Fool Australia.

More reading

• Why Core Lithium, Humm, Magellan, and Smartgroup shares are storming higher
• ‘World-class’ deposits: Why the Core Lithium (ASX:CXO) share price is rocketing 8% today
• Avita (ASX:AVH) share price jumps 6% following FDA approval
• Why ‘dependable and reliable dividend payers’ could be the antidote to current volatility: expert
• The ASX 200 is awash with 52-week lows on Friday. Here are some of the biggest names growing smaller

Motley Fool contributor Alice de Bruin 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 Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. The benchmark index is currently down 0.6% to 7,254.8 points.

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

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price has jumped 6% to 84.3 cents. This morning the lithium developer revealed that drilling activities have uncovered more broad and high-grade lithium intersections at the Finniss Lithium Project near Darwin. These intersections are outside the current mineral resource.

Humm Group Ltd (ASX: HUM)

The Humm share price is up 3% to 88.4 cents. This follows news that Humm has finally struck a deal with Latitude Group Holdings Ltd (ASX: LFS) for its buy now pay later (BNPL), instalment, and credit card operations. Latitude will be buying the operations for a total consideration of $335 million. This comprises $35 million in cash and $300 million in shares.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price has jumped 20% to $21.90. Investors have been buying the fund manager’s shares following the release of its half year results. That release revealed that Magellan delivered first half profit growth of 16% to $248.1 million. In addition, the struggling fund manager is planning a 1 for 8 bonus issue of options to shareholders and considering a share buyback.

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup share price is up 11% to $8.18. This morning the salary packaging company released its full year results and revealed a 7% increase in net profit after tax (adjusted for amortisation) to $69.5 million. But the highlight was its 30 cents per share special dividend, which is in addition to its final dividend of 19 cents per share.

The post Why Core Lithium, Humm, Magellan, and Smartgroup shares are storming higher appeared first on The Motley Fool Australia.

More reading

• ‘World-class’ deposits: Why the Core Lithium (ASX:CXO) share price is rocketing 8% today
• Smartgroup (ASX:SIQ) share price jumps 9% as full-year profit defies headwinds
• ASX 200 (ASX:XJO) midday update: QBE sinks but Magellan rockets
• Humm (ASX:HUM) share price shoots higher on $335m Latitude BNPL deal
• ‘Robust financial position’: Magellan (ASX:MFG) share price surges 13% on half-year earnings

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 owns and has recommended SMARTGROUP DEF SET. The Motley Fool Australia has recommended Humm Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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