The Praemium Ltd (ASX: PPS) share price is packing its bags and taking a trip to the downside on Monday.

The disappointing price action follows the release of the investment platform’s FY22 half-year results.

At the time of writing, Praemium shares are swapping hands for $1.085 apiece, down 11.4%.

Let’s take a closer look at the company’s results.

Praemium share price plunges as earnings swing to a loss

• Revenue up 25% from prior corresponding period to $39.2 million
• Record funds under administration (FUA) of $49 billion, increasing 43%
• Record net platform inflows of $2.9 billion, representing an increase of 87%
• Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of $7.5 million, up 6%
• Net profit after tax (NPAT) swings from $2.8 million to a loss of $2.6 million
• Maintained cash reserves of $19.4 million at the end of the December period

What else happened during the half?

For the six months ended 31 December, Praemium achieved record FUA and platform growth, taking the company to $49 billion in FUA. This result is partly boosted by the inclusion of a full six months worth of revenue from the Powerwrap acquisition.

Additionally, the financial services company witnessed higher growth in FUA in its international platform than its Australian platform. For reference, the international platform experienced a 58% jump, compared to the Australian segment’s 28% increase.

However, as announced on 21 December 2021, Praemium is offloading its international business to Morningstar for A$65.1 million. Shareholders were relatively unfazed by the news at the time, with the Praemium share price moving a mere 2% higher.

Shareholders might be unsettled by the swing back into loss-making territory in the latest half. This marks the first time Praemium has made a loss on the bottom-line since 2015.

According to the half-year report, this reflects an increase in expenses in “key investments” in operations; sales and marketing; and research and development. The largest of these expenses was a $12.3 million investment in operations, representing a 31% increase.

What did management say?

Commenting on the result, Praemium CEO Anthony Wamsteker said:

The first half of FY2022 saw continued strong growth in revenue, reflecting the ongoing success of our investments in people and technology, including the recent acquisition of Powerwrap. Following another half year in which we significantly expanded the size of our team in order to further improve the underlying proprietary technology and client service levels, we are confident that our strong growth will continue.

Regarding the sale of Praemium’s international business, Wamsteker noted:

The sale of our International business segment to Morningstar should provide all our stakeholders with confidence in our ongoing strategy. It allows a dedicated focus on our home market in Australia whilst the quality of the acquirer ratifies our underlying platform and technology.

The ability to now focus exclusively on the Australian platform market at a time of a major shift from incumbents to independent challengers and in the expectations of advisers and clients regarding the range of assets to be managed in one place, creates strong alignment between our strategy and our opportunity.

What’s next?

Praemium remains confident in its future prospects, citing further tailwinds for independent wealth management platforms. Namely, the push from new regulations, a generational shift in advisors, and growing wealth among high net worth individuals.

Additionally, the company believes there is space for further disruption in the market. Currently, Praemium holds a 2% market share.

Finally, Praemium is expected to complete its sale of the international business during Q2 or Q3 of 2022. Any surplus proceeds from the sale are to be returned to shareholders.

Praemium share price snapshot

It seems the Praemium share price has gotten off on the wrong foot in 2022. Shares in the company are down 26% since the start of the year. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is 4.8% in the red, making it the better performer.

Despite the pullback, Praemium shareholders are still up 33% in the last 12 months.

The post Ups and downs: Praemium (ASX:PPS) share price tumbles 12% following half-year results appeared first on The Motley Fool Australia.

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• Why these 2 All Ordinaries BNPL shares are plunging to 52-week lows
• 2 All Ordinaries mining shares smashing all-time highs today
• ‘Worst is behind us’: GPT (ASX:GPT) share price climbs despite COVID-19 disruptions
• Why is the Evolution Mining (ASX:EVN) share price leaping 8% today?

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 Praemium Limited. The Motley Fool Australia has recommended Praemium 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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The JB Hi-Fi Limited (ASX: JBH) share price has started the week very strongly.

In early afternoon trade, the retail giant’s shares are up 4.5% to $51.30.

At one stage today, the JB Hi-Fi share price was up as much as 7.5% to $52.75.

Why is the JB Hi-Fi share price racing higher today?

Investors have been bidding the JB Hi-Fi share price higher today following the release of its half year results.

And while the retailer had already pre-released its sales and profit figures in January (sales down 1.6% and profit down 9.4%), there was enough included in the release to get investors excited.

Firstly, the release included a trading update which revealed positive trends so far in the second half.

JB Hi-Fi advised that total sales were up 4.3% for JB Hi-Fi Australia and 2.5% for The Good Guys during January. And although the JB Hi-Fi New Zealand business reported a 1.5% decline in sales for the month, this is an improvement on what it recorded during the first half.

But perhaps the item that has given the JB Hi-Fi share price the biggest boost was news that it is following the lead of the banks by returning funds to shareholders through a share buyback.

According to the release, JB Hi-Fi is launching an off-market share buyback of up to $250 million. Combined with its fully franked interim dividend of 163 cents per share, this will mean a total of up to $437 million will be returned to shareholders.

Why launch a buyback?

A separate announcement explains the rationale for the buyback.

Chairman Stephen Goddard commented: “Due to JB Hi-Fi’s continued strong financial performance and strong cashflow generation, JB Hi-Fi has surplus capital and a significant franking credit balance.”

“After returning capital to shareholders via the Buy-Back, JB Hi-Fi will still maintain a conservative gearing position with the financial flexibility to pursue growth opportunities. The Board believes that the Buy-Back can be completed without adversely affecting JB Hi-Fi’s capacity to pay fully franked dividends for the foreseeable future,” he added.

What are the terms?

Eligible shareholders will be able to tender their shares at discounts of 8% to 14% to the market price. The market price will be calculated as the volume weighted average price of the JB Hi-Fi share price over the five trading days up to and including the closing date of 8 April.

The capital component of the buyback price is $3.18, with the remainder classed as a fully franked dividend.

Goldman Sachs estimates that this buyback, which is happening sooner than it anticipated, represents approximately 5% of its issued capital.

Goldman commented: “Management announced an off-market buyback of up to A$250mn. We expected capital management to be undertaken at year-end, making the timing a positive surprise. At the last closing price, the 8-14% discount represents a total buyback of c. 4.8% to 5.2% of issued capital.”

The post $250m buyback sends JB Hi-Fi (ASX:JBH) share price shooting higher appeared first on The Motley Fool Australia.

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

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The All Ordinaries Index (ASX: XAO) is bouncing between small gains and small losses today. At the time of writing, the All Ordinaries is flat for the day.

It’s a different story for some of the big-name buy now, pay later (BNPL) shares.

The Zip Co Ltd (ASX: Z1P) share price is down 4.74% in lunchtime trade, while the Sezzle Inc (ASX: SZL) share price has sunk a painful 6.36%.

That sees both Zip and Sezzle shares trading in the unwelcome 52-week low basket.

Why are these All Ordinaries BNPL shares plunging?

The BNPL sector has broadly come under pressure over the past year after posting tremendous gains in the months following the outbreak of the global pandemic.

Some investors remain concerned that government will institute greater regulatory oversight of the industry, which could hinder their margins.

Other investors may have been selling as some big-name competitors enter the BNPL space, like US giant PayPal Holdings Inc (NASDAQ: PYPL) and Australia’s biggest financial institution, Commonwealth Bank of Australia (ASX: CBA), to name a few.

But companies like Zip and Sezzle are also being impacted by the wider tech sell-off hitting the ASX and global share markets as investors nervously eye a future of rising interest rates.

While the All Ordinaries is down 4.9% in the New Year, the S&P/ASX All Technology Index (ASX: XTX) has lost 18.6%.

And ASX BNPL shares could be facing an extra hit from rising rates.

As The Motley Fool reported earlier this month, Grant Halverson, the CEO of payments consultancy McLean Roche, said that “the BNPL sector could suffer from rising interest rates, which would make it trickier to make a profit and raise money.”

How do these BNPL shares compare with the All Ords performance?

Over the past 52 weeks the All Ordinaries is up 5.3%.

The Sezzle share price, meanwhile, has plunged a painful 82.4% in 52 weeks. And the Zip share price hasn’t done much better, down 77.1% for the full year.

The post Why these 2 All Ordinaries BNPL shares are plunging to 52-week lows appeared first on The Motley Fool Australia.

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• ASX 200 (ASX:XJO) midday update: IAG upgrades guidance, Magellan sinks again
• ASX BNPL shares in focus after Affirm (NASDAQ:AFRM) share price tumbles 21%

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended 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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On a day where the All Ordinaries Index (ASX: XAO) is barely making a move, it’s perhaps surprising that an ASX All Ords share would be making a new all-time record high. Let alone two such ASX shares. But that’s the position we seem to find ourselves in so far this Monday. Yes, while the All Ords is currently up just 0.18% after spending much of the morning in negative territory, two ASX mining shares are making their own highs.

Let’s take a look!

2 All Ordinaries mining shares making new record highs today

 Iluka Resources Limited (ASX: ILU)

So the first share to check out is Iluka Resources.

Iluka is a major supplier of titanium minerals, as well as zircon – an ore of zirconium. This company has enjoyed a robust day of trading on the markets so far this Monday, with the Iluka share price currently up a healthy 1.97% at $11.41 a share. However, Iluka went as high as $11.50 a share earlier in today’s trading session. That was a new all-time high for Iluka. That puts this company’s 12-month performance at 60.9%. So what’s been going so right for Iluka that investors are sending it to previously unexplored territory?

Well, a well-received quarterly update last month may have helped. This reported a 54% increase in zircon production over the quarter. Iluka is also scheduled to report its annual earnings in about 10 days, so perhaps some investors are expecting big things and are getting in early too. Whatever the reason, it has certainly been a big day for Iluka Resources.

Capricorn Metals Ltd (ASX: CMM)

Our second ASX mining share is none other than Capricorn Metals. Capricorn is a mining company specialising in gold exploration, with its flagship project being the Karlawinda Gold Project located in Western Australia’s Pilbara region. Capricorn shares are currently priced at $3.61 so far today, up a pleasing 4.34%. But Capricorn rose as high as $3.75 a share earlier this morning, a new record high. That puts this company’s gains over the past year at a very pleasing 116% or so.

So it’s not immediately clear what has caused Capricorn’s new ASX highs. It’s possibly related to the rising gold price we have seen lately. But Capricorn posted a pleasing quarterly update last month as well that could be at play too. This detailed a year-on-year increase in gold production from 24,329 ounces of gold in the previous quarter to 30,316 ounces over the quarter ending 31 December 2021.

Perhaps investors have taken notice. But whatever the reason for Capricorn’s new high today, it’s certainly the latest move in a very impressive recent performance.

The post 2 All Ordinaries mining shares smashing all-time highs today appeared first on The Motley Fool Australia.

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

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The GPT Group (ASX: GPT) share price is in the green today on the back of the company’s FY 2021 financial results.

The real estate investment trust’s (REIT) shares are currently swapping hands at $5.07 apiece, a 1.4% gain.

Let’s take a look at what GPT reported today?

GPT share price rises amid full year results

Highlights of the financial results for the 2021 year include:

• Net profit after tax (NPAT) of $1,422.8 million after a net loss after tax of $213.2 million in 2020
• Investment property valuations gained $924.3 million in 2021
• Net tangible assets (NTA) per security of $6.09, up 9.3% from $5.57 in 2020
• Funds from operations (FFO) of $554.5 million, down 0.03% from $554.7 million in 2020
• FFO per security of 28.82 cents, up 1.2% from 28.48 cents in 2020
• Full year distribution of 23.2 cents per security, up 3% from 22.5 cents in 2020.

What else happened in the half?

GPT’s office portfolio achieved a 5.8% net valuation increase in 2021. In December, GPT started its development of 51 Flinders Lane in Melbourne. This project is expected to be completed in early 2025. During the half, GPT also built on its development opportunity in George Street, Parramatta with the acquisition of adjacent properties.

GPT’s Logistics portfolio improved by $1.4 billion to $4.4 billion during the year. This portfolio also saw its valuation increase by 14.4% in 2021. The company reported strong tenant demand for logistics space.

The GPT retail portfolio improved in the first half of 2021, however, COVID-19 lockdowns impacted trading conditions in July.

Despite this, GPT reported retail sales recovered compared to the previous year. Total centre sales climbed 3.7%, while total specialty sales improved 6.2% on the previous year.

Melbourne Central is still experiencing strong demand from retailers although the development is reliant on foot traffic from workers, students, and tourists in the city.

Management comment

In an announcement from the GPT Board, it was noted:

GPT commenced 2021 with solid momentum however this was disrupted by the Delta outbreak of COVID-19 in the second half of the year.

Severe lockdown measures restricted trading activity and impacted the performance of our Retail portfolio, particularly during the third quarter. Despite these impacts the group’s diversified portfolio generated a total return of 14.1% for the year.

While Omicron has been another recent setback to the recovery, we are optimistic that the worst is behind us with case numbers trending in the right direction, high vaccination rates and the need for restrictive measures diminishing.

What’s next for GPT

GPT is expecting to deliver an FFO of 31.7 to 32.4 cents per security in the 2022 financial year. The company is also optimistic it can achieve a distribution of 25 cents per security in 2022. This guidance is assuming operating conditions get back to normal by the end of the first quarter, including no further lockdowns.

More activity in the Melbourne and Sydney central business districts, including workers returning to the office, is important to GDP’s outlook for 2022.

GPT share price recap

The GPT share price has surged 23% in the past year but is down more than 6% year to date.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned roughly 6% over the past year.

At its current share price, the REIT has a market capitalisation of $9.7 billion.

The post ‘Worst is behind us’: GPT (ASX:GPT) share price climbs despite COVID-19 disruptions appeared first on The Motley Fool Australia.

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• Is now really the time to be buying shares?
• Why has the ETFS Battery Tech & Lithium ETF (ASX:ACDC) been on a highway to hell the past month?
• ASX 200 (ASX:XJO) midday update: JB Hi-Fi impresses, Crown accepts $8.9bn Blackstone bid

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 Evolution Mining Ltd (ASX: EVN) share price is shooting higher on Monday.

At the time of writing, the gold miner’s shares are fetching for $3.98 a pop, up 8.45%. In comparison, the S&P/ASX 200 Index (ASX: XJO) is edging 0.31% higher to 7,239.9 points.

What’s driving Evolution Mining shares higher?

With Russia massing its forces around Ukraine for a potential regime change, investors have fled to safe haven assets.

The price of gold has surged toward US$1,860 an ounce, an increase of almost 3% in the past week alone.

This is driving the Evolution Mining share price higher as elevated gold prices translate to bumper profits for the company.

At its most recent report released late last month, Evolution Mining recorded 318,766 ounces of gold produced for 2022. All-in sustaining costs (ASIC) came to A$1,381 (US$985) per ounce.

This means at the current gold price of US$1,860, Evolution is making around US$875 profit for every ounce sold. It’s worth noting that this does not include the capital and discovery expenditure used on developing and bringing the assets online.

Furthermore, the company advised that it is on track to deliver its FY22 group guidance given the solid performance above. As such, management is forecasting 670,000 to 725,000 ounces at a sector leading AISC of A$1,135 to A$1,195 per ounce.

Evolution Mining is scheduled to release its half-year results for the 2022 financial year this Wednesday 16 February.

Evolution Mining share price summary

Evolution Mining is an Australian mining and exploration company that owns and operates five mines, mostly based in Australia. They include Cowal in New South Wales, Mungari in Western Australia, Mt Rawdon and Ernest Henry in Queensland, and Red Lake in Ontario, Canada.

Over the past 12 months, the Evolution Mining share price has lost more than 13% in value. A deterioration in commodity prices throughout the latter part of 2021 caused investors to run for the hills.

On valuation metrics, Evolution Mining commands a market capitalisation of around $7.29 billion, with approximately 1.83 billion shares outstanding.

The post Why is the Evolution Mining (ASX:EVN) share price leaping 8% today? appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

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

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

The recent declines in many indexes and popular stocks have led some investors to wonder if now is the time to be buying stocks. The short answer is yes.

Bear markets are inevitable

One thing that’s inevitable in investing is volatility; it’s a tale as old as investing itself. While daily fluctuations in market prices are not good indicators of trends, investors use periods of market movements to categorize a market as either a bull market or a bear market. Bull markets are used to describe rising prices, and bear markets are used to describe declining prices.

In January 2022, the S&P 500 had its worst month since the start of the COVID-19 pandemic in March 2020, declining by 5%. While this alone isn’t enough to declare a bear market (several institutions use a 20% threshold), many believe we are approaching bear market territory after a long bull market. If you’re a long-term investor, it’s best to realize bear markets are inevitable, and that the short-term movements of stock prices shouldn’t affect your outlook on investing in the long run. Bear markets don’t last forever.

Focus on dollar-cost averaging

Unfortunately, it’s easy to sometimes let emotions guide your investing decisions. Dollar-cost averaging is a good strategy to help stop yourself from trying to time the market — something that is virtually impossible to do consistently. Instead, you make consistent investments at regular intervals, regardless of stock prices or market conditions. Let’s say you have $12,000 you want to invest. Instead of investing it all at once, you could choose to break down the investments like the following:

Frequency	Number of Investments	Amount of Each Investment
Weekly	16	$750
Monthly	8	$1,500
Quarterly	4	$3,000
Bi-annually	2	$6,000

Data source: author calculations. 

The exact amount and frequency you choose don’t matter as much as the fact that you remain consistent. One of the main problems with trying to time the market is you risk investing lump sums right before the market or a specific stock plunges.

Imagine you had the previously mentioned $12,000 and were interested in investing in Meta Platforms, the formerly named Facebook. Had you invested all of it on Feb. 2, 2022, when the share price was $323, you would’ve bought just over 37 shares. The next day, shares of Meta dropped by 26%, which would’ve instantly brought your investment total down to around $8,900.

Of course, you can’t predict when something like this may happen, but by incorporating dollar-cost averaging, you protect yourself from such events. If anything, it gives you a chance to potentially lower your cost basis. Time in the market is more important than timing the market.

Focusing on the long term is what matters

If you’re investing, it helps to focus on the long term. If anything, you can view periods of declining markets as a chance to grab your investments at a “discount.” If you believe in a company and are willing to invest in it with the stock price at $150, a drop to $125 shouldn’t cause you to panic; it’s a chance to increase your overall holdings for cheaper if you so choose. Your financial future is what matters — you can’t go wrong keeping that in mind with your investing decisions. 

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

The post Is now really the time to be buying shares? appeared first on The Motley Fool Australia.

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• Why is the Brainchip (ASX:BRN) share price tumbling 6% on Monday?
• Top broker tips 50% upside for this ASX 200 mining share
• Is Newcrest Mining (ASX:NCM) set to start a share buyback in 2022?

Stefon Walters has no position in any of the stocks mentioned. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Meta Platforms, Inc. The Motley Fool Australia has recommended Meta Platforms, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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Boy, has it been a disappointing month for the ETFS Battery Tech & Lithium ETF (ASX: ACDC). Not only have ACDC units lost a nasty 1.3% so far today, but this ASX exchange-traded fund (ETF) has lost close to 7% of its value over the past month or so. Indeed, since 17 January, ACDC is down by almost 7.5%.

By comparison, the ASX 200 has also faced some choppy waters recently. But over the past period, the ASX 200 has barely lost 2.1%, making ACDC a definite market-trailer.

So what might have gone so wrong for this future-facing ETF? Well, to answer that, let’s take a look at how this ETF is bolted together.

The ETFS Battery Tech & Lithium ETF tracks the Solactive Battery Value-Chain Index. This, in turn, aims to give investors exposure to “the energy storage and production megatrend”. On the latest data, this ETF had 32 underlying companies in its investment portfolio. Close to 24% of those holdings hail from Japan, with the United States representing another 19.4%, South Korea 11%, and Australia 9.5%.

ASX investors would probably recognise ACC’s two largest holdings as well – Mineral Resources Limited (ASX: MIN) and Pilbara Minerals Ltd (ASX: PLS). These two miners hold an ACDC weighting of 4.8% and 4.7% in this ETF respectively. Other holdings in this ETF include carmakers Nissan Motor Co and Renault SA, as well as weapons company Lockheed Martin.

Short circuit? Why the ACDC ETF has struggled lately…

Looking at Mineral Resources, we can immediately see a source of red ink for this ETF. Minerals Resources shares have had a shocker over the past couple of months. This company is down around 20% since 17 January and remains down by more than 11% year to date.

Pilbara Minerals hasn’t done too much better. The lithium producer’s shares are down more than 17% since 17 January, and also remain down around 11.8% so far in 2022.

So with ACDC’s two largest holdings going backwards by double-digits over the past month or so, not to mention the volatility we have seen across global markets since then too, it’s perhaps no surprise ACDC units have been under the pump recently.

But longer-term shareholders are still sitting rather well. Even after this much-to-be-desired recent performance, this ASX ACDC ETF has still given its investors an average return of 30.58% per annum over the past 3 years.

The ETFS Battery Tech & Lithium ETF charges an annual management fee of 0.69%.

The post Why has the ETFS Battery Tech & Lithium ETF (ASX:ACDC) been on a highway to hell the past month? appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: JB Hi-Fi impresses, Crown accepts $8.9bn Blackstone bid
• Why is the Brainchip (ASX:BRN) share price tumbling 6% on Monday?
• Top broker tips 50% upside for this ASX 200 mining share
• Is Newcrest Mining (ASX:NCM) set to start a share buyback in 2022?
• What’s going on with the CSL (ASX:CSL) share price 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 Bruce Jackson.

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At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) has fought back from a bad start to be trading higher. The benchmark index is currently up 0.4% to 7,243.9 points.

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

JB Hi-Fi first half update

The JB Hi-Fi Limited (ASX: JBH) share price is storming higher today after the release of its half year results. While its sales and profits were pre-released to the market in January, a couple of pleasant surprises have given its shares a boost. The first is that trading was positive during the month of January, with JB Hi-Fi Australia and The Good Guys delivering solid year on year growth. The other pleasant surprise was a $250 million off-market share buyback.

Bendigo and Adelaide Bank bounces higher

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is on form today after its half year results release went down well with the market. The regional bank reported an 8.5% increase in revenue to and an 18.7% lift in cash earnings to $260.7 million. This allowed the bank to declare a fully franked interim dividend of 26.5 cents per share, which is up 12.8% over the prior corresponding period.

Crown accepts $8.9 billion takeover offer

The Crown Resorts Ltd (ASX: CWN) share price is pushing higher today after accepting an $8.9 billion takeover offer from Blackstone. The casino and resorts operator has accepted an offer of $13.10 cash per share, which represents a premium of ~32% to its share price on 18 November. This date was the day before Blackstone tabled its original offer.

Best and worst ASX 200 performers

The best performer on the ASX 200 today has been the Regis Resources Limited (ASX: RRL) share price with a 9.5% gain. Investors have been buying gold shares amid concerns over escalating tensions in Ukraine. Going the other way is the Pilbara Minerals Ltd (ASX: PLS) share price with a 6% decline on no news. However, it is worth noting that a large number of lithium shares are sinking on Monday.

The post ASX 200 (ASX:XJO) midday update: JB Hi-Fi impresses, Crown accepts $8.9bn Blackstone bid appeared first on The Motley Fool Australia.

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• Bendigo Bank (ASX:BEN) share price lifts amid 32% jump in profits
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Bendigo and Adelaide Bank 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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This year so far has been a rollercoaster for the Brainchip Holdings Ltd (ASX: BRN) share price and it’s been plunged into another loop-the-loop today.

The company’s stock is tumbling despite no news having been released on it for more than a week. Though, it’s not alone in its slump.

At the time of writing, the Brainchip share price is $1.52, 5.74% lower than its previous close.

For context, the broader market is in the green today. The S&P/ASX 200 Index (ASX: XJO) is currently up 0.4%. Meanwhile, the All Ordinaries Index (ASX: XAO) has gained 0.3%.

Let’s look at what might be weighing on the artificial intelligence focused ASX tech share today.

Why is the Brainchip share price plunging lower today?

The Brainchip share price is handing back some of its lofty year-to-date gains this morning as the S&P/ASX All Technology Index (ASX: XTX) slips lower again.

The index has fallen a notable 18.4% since the start of this year. It’s falling another 1.1% today, potentially driven lower by the tech-heavy Nasdaq Index’s 2.7% tumble on Friday.

Meanwhile, prior to today, the Brainchip share price had gained a whopping 108% year to date.

It’s been rocketed by news of a capital injection, two new patents – one in January and another in February, and a strong December quarter performance.

In fact, its early January gains were so severe that the ASX issued it with a speeding ticket. In response, the company said it was as confused as anyone.

Though, it pointed to its release of immaterial news and excitement over the AI industry as potential reasons for its gains.

But that excitement ­– if it were indeed the reason behind Brainchip’s surge – appears to have waned this morning.

Additionally, while there’s been no news of Brainchip the company for more than 10 days, disturbing headlines regarding brain chips have recently emerged.

The reports are unlikely to have had any impact on the Brainchip share price. Particularly, given the company is in no way involved with the claims or the company involved.

However, stranger things than what could be a case of mistaken identity have impacted the market sentiment of a sector before.

A case of mistaken identity?

In recent days, news has emerged detailing alleged animal abuse committed during product testing for Elon Musk-backed brain chip start-up, Neuralink.

Neuralink is developing implantable technology that could interact with the brain to help people with paralysis control computers and devices. It’s a far cry from Brainchip’s work in the AI field.

According to reporting by Business Insider, published late last week, Neuralink is facing potential action on claims that monkeys were forced to withstand “extreme suffering” during testing for “highly invasive experimental head implants.”

An animal rights group reportedly plans to hand records of the alleged abuse to the United States Department of Agriculture.

The testing is said to have been conducted by a research centre affiliated with the University of California between 2017 and 2020. Neuralink reportedly cut ties with the university when the monkeys were transferred to its own facility in 2020.

The post Why is the Brainchip (ASX:BRN) share price tumbling 6% on Monday? appeared first on The Motley Fool Australia.

More reading

• Why Aussie Broadband, BrainChip, Talga, and Telstra shares are pushing higher
• What’s driving the BrainChip (ASX:BRN) share price 14% higher today?
• Own BrainChip (ASX:BRN) shares? Here’s some of the institutional investors which have also bought up big
• Why is the BrainChip (ASX:BRN) share price storming 12% higher?
• What happened to ASX tech shares 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. 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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