At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher following a strong night on Wall Street. The benchmark index is currently up 1.2% to 7,339.8 points.

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

Kogan business update

The Kogan.com Ltd (ASX: KGN) share price is bouncing around today following the release of a business update. According to the release, Kogan expects to report full year gross sales of $1,177.7 million and adjusted EBITDA of $61.1 million. This represents year on year growth of 52.5% and 23.1%, respectively. While the latter was a sharp slowdown on its first half growth, it was in line with the guidance given in May. Management also revealed that its inventory issues have been easing.

Altium shares sink

The Altium Limited (ASX: ALU) share price is sinking on Wednesday. This appears to have been driven by news that Autodesk has walked away from takeover talks. The US software giant told Reuters: “We are not commenting on matters with Altium but can confirm that acquisition discussions have ceased at this time.” Investors appear to have been expecting Autodesk to return with an improved offer after Altium rejected its $38.50 per share proposal.

Lendlease sells services business

The Lendlease Group (ASX: LLC) share price is rising today after the international property and infrastructure company announced the sale of its Services business. According to its release, Lendlease has entered into an agreement with Service Stream Ltd (ASX: SSM) to sell the business for $310 million. Management advised that the sale aligns with its strategy to be more focused on the areas where its competitive edge is the strongest.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Pilbara Minerals Ltd (ASX: PLS) share price with a 5.5% gain. A number of lithium shares are pushing higher today. The worst performer on the ASX 200 has been the Altium share price with a 3.5% decline. This follows the collapse of takeover talks with Autodesk.

The post ASX 200 midday update: Kogan FY 2021 update, Altium sinks appeared first on The Motley Fool Australia.

More reading

• Lendlease (ASX:LLC) share price edges higher on divestment news
• Why the Altium (ASX:ALU) share price is sinking 5% on Wednesday
• Kogan (ASX:KGN) share price falls on business update
• Yes, the ASX is due for a correction. But don’t worry
• 2 ASX 200 shares that could be buys for dividends

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 shares of and has recommended Altium and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Altium and Kogan.com ltd. 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.

What happened

Joining the rest of the stock market in bouncing, Apple (NASDAQ: AAPL) shares defied gravity on Tuesday and levitated a solid 3% through 1:25 p.m. EDT.

Helping the tech giant recover from yesterday’s selling was a positive analyst note from investment banker UBS.

So what

One day after analysts at Deutsche Bank said that they see “strong momentum across all of [Apple’s] businesses,” and investment bank Bernstein predicted a modest beat by Apple in its upcoming third fiscal quarter of 2021, UBS chimed in today with a reiterated buy rating of its own.

“Based on strength in iPhones in what is typically a seasonally slower quarter and better Mac sales despite supply chain headwinds,” StreetInsider.com reported, UBS said it was raising its third-quarter 2021 revenue and EPS estimates to $74.7 billion and $1.01, respectively, from $71.3 billion and $0.95.

Now what

So, are $74.7 billion in sales and $1.01 EPS good or bad?

For that, you need to know the context. Wall Street analysts on average predict that Apple’s sales grew 22% year over year in the third quarter, to $72.9 billion, and that Apple earned about $1 per share — 56% better than last year. Relative to those predictions, UBS is only about 1% ahead of the Street on its prediction of Apple’s earnings. (Indeed, UBS admits as much.)

More significantly, though, UBS seems to think that Apple beat Street projections by 5 full percentage points on sales. And if Apple can overcome supply chain issues to acquire all the computer parts it needs, to sell all the PCs, iPads, and iPhones its customers want, UBS says further upside is possible.

So it’s no wonder investors were happy to hear the UBS prognosis.

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

The post Why Apple Stock floated higher on the NASDAQ on Tuesday appeared first on The Motley Fool Australia.

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• Here’s why Apple stock has room to run higher

Rich Smith has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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Piedmont Lithium Inc (ASX: PLL) shareholders have been given a rude awakening on Wednesday. The miner’s shares have slid 21% to 68.5 cents at the opening of trade.

There was no price-sensitive news from the company this morning. So what could possibly warrant a 20% fall in the emerging lithium producer’s shares?

Why the Piedmont Lithium share price is tumbling

Reuters has flagged a major shortcoming for Piedmont Lithium’s plans to become the “USA’s number one lithium hydroxide producer”.

According to Reuters, “The company [however] has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.”

“Five of the seven members of the county’s board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected.”

These permitting issues might be the catalyst behind the sharp 20% decline in the Piedmont Lithium share price this morning.

When did they expect to receive these permits?

According to a company presentation from November 2020, permitting for spodumene concentrate production and its chemical plant were expected to be complete by mid-2021.

Reuters said that, “Piedmont had been set to meet with commissioners in March, but canceled with three days’ notice, further straining the relationship. Piedmont said it canceled that meeting in order to further refine its plans.”

What’s next for the Piedmont Lithium share price?

Reuters reported that Piedmont President and CEO Keith Phillips expects to apply for a state mining permit this summer (June–August). With this permit they would aim to begin construction in April 2022 and production in the second half of 2023.

With today’s change, Piedmont Lithium’s market capitalisation is $1.37 billion.

The post Piedmont Lithium (ASX:PLL) share price opens 20% down on Wednesday appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Piedmont Lithium Inc. 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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Temple & Webster Group Ltd (ASX: TPW) could be a good ASX share to think about for a few different reasons.

If you haven’t heard of Temple & Webster before, it’s a leading pure play online retailer of furniture and homewares in Australia. It has a wide product catalogue and the model is that items are shipped directly to customers by suppliers, which helps with faster delivery times and reduces inventory requirements. Temple & Webster does have its own private label range sourced from overseas.

But the business could be one to think about for the following reasons:

Tailwind of online shopping

The company believes that COVID-19 has permanently accelerated online adoption in the Australian furniture and homewares market.

Temple & Webster estimates that more than 20% of furniture and homewares was bought online in the US during the COVID-affected year of 2020. The company believes Australia is following the same trajectory.

The ASX share has estimated that in 2020, around 9% of Australian furniture and homewares were bought online, an almost doubling of the 5% bought in 2019. It’s expected that online penetration in both markets is expected to continue to increase significantly.

Investing to achieve greater scale

Temple & Webster has a plan to capitalise on this e-commerce opportunity. Management believes there is potential for significant online market growth and longer-term returns.

There are a number of different things that the business is focused on.

It wants to build strong brand awareness to achieve national brand status within the next three years by investing in mainstream media to drive both first time and repeat customers. The company wants to increase its conversion rate of customers.

Temple & Webster wants to improve its customer experience through better technology, data and personalisation, and delivery experience. This will include improve its 3D and artificial intelligence capabilities to make the customer shopping journey easier.

The company wants to grow its business to business sales and operational teams so that it can win market share in the commercial sector.

A final focus is improving its product range with new category additions, private label expansion, new products and exclusive ranges from suppliers.

Rapid growth

Temple & Webster is expecting to see a low single digit earnings before interest, tax, depreciation and amortisation (EBITDA) margin as it grows. But it’s still expecting “strong double digit revenue growth” during this investment period.

Growth had continued into the 2021 calendar year after a high level of growth in 2020. The third quarter of FY21 saw revenue growth of 112% against the prior corresponding period. April 2021 revenue rose more than 20% year on year, despite April 2020 being a big month for e-commerce sales.

After a few years of growth at low EBITDA margins, Temple & Webster is then expecting higher longer-term profit margins with advantages like better supplier terms, more repeat customers (lowering advertising costs), a slowing investment in fixed costs and higher gross profit margins from a higher percentage of exclusive products.

Temple & Webster CEO Mark Coulter said:

You only need to look at the US to see how the e-commerce market is playing out, and why we remain bullish about the shift from offline to online. We are at the start of this once in a generation shift, and now is the time to put our foot down to secure market leadership and ensure we are the brand for the next generation of furniture shopper.

The post 3 reasons why the Temple & Webster (ASX:TPW) share price could be a buy appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Carbonxt Group Ltd (ASX: CG1) share price is rocketing in late morning trade, up more than 11%.

The ASX small-cap company is focused on producing specialised Activated Carbon (AC) products, including Powdered Activated Carbon (PAC) and AC pellets. These are used to help remove toxins and other pollutants created from industrial processes.

Below we take a look at the company’s latest sales update.

What update did Carbonxt report?

Carbonxt’s share price is soaring today after the company reported it has signed a new US$2 million (AU$2.7 million) contract to supply 1,000 tons of AC Pellets. The pellets will be delivered by the end of December.

The order comes from an existing power station customer in the US state of Wisconsin. Carbonxt will supply the pellets from its Arden Hills facility, located in the neighbouring state of Minnesota. This will see the plant return to full manufacturing capacity.

With the new contract, the Wisconsin power station’s total order value has increased from US$3 million to at least US$5 million. The company reports it will realise all the revenue in the current financial year.

Commenting on the new contract, Carbonxt’s managing director Warren Murphy said:

This scaled up order from a reliable and long-term customer reflects the steady and progressive revenue growth Carbonxt is now experiencing. To ensure we can reliably deliver the increased tonnage of AC pellets, we have been able to quickly implement new manufacturing processes at Arden Hills that do not compromise product quality or our margins.

With the permit for construction of its plant in the US state of Kentucky pending, and its Arden Hills facility running double shifts, “It is imperative that we commission the planned Kentucky facility in order to capture greater market share and pursue new sector opportunities.”

Carbonxt hopes update the market on this “in the very near-term”.

Carbonxt share price snapshot

Over the past 12 months the Carbonxt share price remains down 15%, compared to a 22% gain on the All Ordinaries Index (ASX: XAO) over that same time.

With today’s intraday gains factored in, Carbonxt’s share price has outperformed in 2021, up 22% year-to-date.

The post Why the Carbonxt (ASX:CG1) share price is rocketing 11% higher today appeared first on The Motley Fool Australia.

More reading

• Piedmont Lithium (ASX:PLL) share price opens 20% down on Wednesday
• 3 reasons why the Temple & Webster (ASX:TPW) share price could be a buy
• What’s up with the 29Metals (ASX:29M) share price today?
• The Beach Energy (ASX:BPT) share price wobbles after quarterly update
• PointsBet (ASX:PBH) share price rises on bullish broker note

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 29Metals Ltd (ASX: 29M) share price is on the move this morning following the company releasing its latest quarterly report.

The copper and precious metals mining company’s quarterly report is the first it’s released since it floated on the ASX earlier this month.

At the time of writing, the 29Metals share price is down 1.38% on the back of its report. Its shares are currently swapping hands for $2.15.

However, earlier today the 29Metals share price was $2.23 – 2.24% higher than its previous closing price.

The news driving the 29Metals share price

The 29Metals share price is wavering as the market responds to the company’s first quarterly report as an ASX-listed company.  

The company’s copper production is on track to finish the year within the company’s full-year guidance. However, its production of gold, zinc, silver, and copper equivalent is sitting at less than half the year’s predicted production at the 6-month mark.

29Metals also announced it reaped $233.5 million (after costs) from its Initial Public Offering (IPO).

Its Capricorn (Queensland) and Golden Grove (West Australia) sites’ combined cash balance as of 30 June, and the company’s unaudited corporate cash balance as of 19 July 2021, is $183.8 million. The company has unaudited debt worth US$150 million.

The company reports both its Capricorn and Golden Grove projects are managing COVID-19 border restrictions.

Let’s take a closer look at what’s driving the 29Metals share price.

Capricorn project

The company mined 395 kilotons of ore at the Capricorn project over the quarter just been. During the same period, it milled 430 kilotons of ore, an increase on the quarter prior.

Capricorn’s costs for the quarter were $5 million less than the previous quarter. The company spent $41 million at the project over the June quarter.  However, it brought in $63.6 million over the 3 month period.

Golden Grove project

Employees at the Golden Grove project were impacted by Tropical Cyclone Seroja in April but the company reported no infrastructure damage.

The Golden Grove project saw 423 kilotons of ore mined and 369 kilotons milled over the June quarter. That’s respectively 65 kilotons and 91 kilotons more than the quarter prior.

Golden Grove’s net direct cash costs for the quarter were $4 million. That’s a decrease on the previous quarter’s costs, driven by an increase in by-product sales.

Over the quarter, Golden Grove earned 29Metals $129 million.

Commentary from management

29Metals CEO and managing director Peter Albert commented on the results driving the company’s share price today:

29Metals delivered a strong June quarter relative to the March quarter, as expected, with improved production performance across all metals at both operating sites… June quarter performance, combined with progress against our pipeline of organic growth opportunities, has positioned the company for a successful year in 2021 and beyond. It was important to demonstrate delivery of our plan following our listing and successful completion of the IPO at the beginning of July, tremendous milestones for 29Metals after many months of hard work.

29Metals share price snapshot

The 29Metals share price has gained around 8% since it listed on the ASX.

It has a market capitalisation of around $1 billion, with approximately 480 million shares outstanding.

The post What’s up with the 29Metals (ASX:29M) share price today? appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 Beach Energy Ltd (ASX: BPT) share price is wobbly today after the company released its quarterly results this morning.

Beach Energy shares have slipped from their opening price of $1.265 and are currently trading at the previous close of $1.25 apiece.

Let’s comb through the oil and gas producer’s results in finer detail.

Beach’s fourth quarter results

Beach Energy recorded fourth quarter sales revenue of $421 million, which grew 7% from the previous quarter.

The company said this was largely due to a 10% higher realised price of oil at $99.7 per barrel.

Fourth quarter production was 5.96 million barrels of oil equivalent (MMboe), a slight decrease from the third quarter production of 5.99 MMboe.

In addition, the company reported sales volume of 6.44 MMboe, an increase of ~4% quarter on quarter.

These results contributed to a full-year production of 25.63 MMboe and full-year sales revenue of $1.52 billion.

The company also provided some colour on its FY 2021 guidance.

Beach forecasts FY21 production in the ranges of 25.2 – 25.7 MMboe, in line with previous estimates.

Beach also sees underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of $850 – $900 million, which sits “at the top end of guidance”, according to the company.

Additional takeouts from the report

Additional takeouts from the report include an update on its Western Flank review, which played havoc on the company’s share price back in April.

Referencing the review, Beach Energy managing director and chief executive Matt Kay said:

In the Western Flank, following the April reserves downgrade, we have completed a thorough subsurface review and our attention turns to the recommencement of drilling activities, beginning with oil development and gas exploration wells, with an oil exploration program expected to follow.

The company also made progress on several emissions-targeting projects throughout the quarter, according to Kay:

Our emissions reduction program is progressing well, including the installation of a new mercury removal unit at the Otway Gas Plant… Additionally, the proposed Moomba Carbon Capture and Storage Project also took a step forward, receiving a $15 million commitment from the Commonwealth Government.

Beach will release its full year audited results in 16 August 2021, where FY 2022 guidance will also be provided.

Beach Energy share price snapshot

The Beach Energy share price has had a choppy year to date, posting a loss of 30% since January 1.

This has extended the loss of 15.5% incurred over the previous 12 months.

For comparison, the S&P / ASX 200 Index (ASX: XJO) has climbed 19% over this same time period.

At the time of writing, Beach Energy has a market capitalisation of $2.85 billion.

The post The Beach Energy (ASX:BPT) share price wobbles after quarterly update appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
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• ASX energy shares on watch after oil prices sink 8%
• 5 things to watch on the ASX 200 on Tuesday

The author Zach Bristow has no positions 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 PointsBet Holdings Ltd (ASX: PBH) share price is pushing higher on Wednesday.

In late morning trade, the sports betting company’s shares are up 3% to $12.05.

Why is the PointsBet share price pushing higher?

The rise in the PointsBet share price appears to have been driven by a leading broker’s positive reaction to its announcement on Tuesday.

In case you missed it, PointsBet has entered into an exclusive agreement with Cliff Castle Casino Hotel to pursue online sports betting market access in the US state of Arizona.

PointsBet USA’s CEO, Johnny Aitken, commented: “PointsBet is thrilled to begin the process toward offering the passionate, sports-loving communities of Arizona a fast and differentiated sports betting product across every customer touchpoint.”

“We look forward to quickly and responsibly introducing sports bettors and fans to the competitive advantages PointsBet possesses in owning our technology end-to-end, such as market-leading ease of use and the deepest slate of betting options available in the world,” he added.

Broker response

Analysts at Goldman Sachs were pleased with the news and have reiterated their buy rating and $17.20 price target on the company’s shares.

Based on the latest PointsBet share price, this implies potential upside of almost 43% over the next 12 months.

Goldman commented: “We see today’s announcement as another incremental positive for PBH following its recent market access agreement in the state of Maryland and positioning for the Canadian sports betting market. With the addition of Maryland, PBH now has direct market access to 16 states in the US (18 including untethered states), placing it on track for its target of being operational in 18 US states by the end of CY22.”

The broker notes that Arizona is the 14th most populous state in the US, making up ~2% of the US population. Based on this, it considers Arizona a tier 2 state and estimates that it offers a total addressable market of ~US$0.8 billion at maturity.

The post PointsBet (ASX:PBH) share price rises on bullish broker note 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. owns shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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Investors are caught between whether inflation will sharply rise or remain subdued. The unknown factor has led to some volatility in the S&P/ASX 200 Index (ASX: XJO) over recent months.

While central banks point to any high inflation environment being transitory, not everyone believes that to be the case. As a result, there are already highly regarded fund managers adjusting for inflationary pressures.

So, what are some of the experts doing to combat a potential inflation headwind?

Magellan not one to be complacent

Yesterday, Magellan Financial Group Ltd (ASX: MFG) released its third annual edition of InReview magazine. Within the publication, Chief Investment Officer Hamish Douglass discussed the risk of inflation on global equities.

Douglass explained that while the fund tends to agree with central banks, there remains a meaningful risk. Commenting on the matter Mr Douglass said:

Even if you believe that inflationary pressures are more likely to be temporary, the most important question to ask is what happens if inflation pressures are not temporary. If central banks were forced to tighten monetary policy by reducing, or ending, asset purchases and increasing interest rates, we could witness a major correction in equity and other asset markets.

Consequently, the fund has taken action to make the Global Equity portfolio more resilient to such inflation woes.

According to the Magellan Global Equities Fund annual review, the portfolio has been constructed to consider the near-term risk of inflation. For example, the fund is comprised of 15% consumer staples (Nestle, PepsiCo, Procter & Gamble); 11% regulated US utilities and communications infrastructure (Crown Castle International, Eversource Energy, Xcel Energy); and 7% franchise-model restaurants (McDonald’s and Yum! Brands).

Disciplined value approach to fighting inflation

Another fund manager remaining vigilant of inflation risks is Bell Asset Management. In a release on Monday, Chief Investment Officer Ned Bell said:

Not having exposure to the extreme growth end of the market, because of our valuation discipline, has meant a slight drag on performance. However, going into an inflationary environment where very expensive stocks get beaten up will mean we’ll go from a headwind to a tailwind.

This was in relation to the fund’s bullish view towards a recovery in small and mid (SMID) market capitalisation stocks. Bell Asset Management takes a fundamental bottom-up approach for its Bell Global Emerging Companies Fund. Based on its June monthly report, the fund’s top 5 holdings included Rightmove plc, CGI Inc, Ritchie Bros Auct, and Euronext NV.

The post How these 2 fund managers have positioned their portfolios for inflation appeared first on The Motley Fool Australia.

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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 Lendlease Group (ASX: LLC) share price is climbing during morning trade following the sale of its Services business.

At the time of writing, the international property and infrastructure company’s shares are up 2% to $11.66.

Lendlease moves ahead with sale

Investors are buying Lendlease shares after digesting the company’s latest news to the ASX.

According to its release, Lendlease entered into an agreement with Service Stream Ltd (ASX: SSM) to offload its Services business.

Founded in 1996, Service Stream is Australia’s leading provider of essential network services. This includes the design, construction, operation, and maintenance of fixed, wireless and broadband services for utility and telecommunications asset owners.

The deal, which is subject to conditions including client and third-party consents, is valued at $310 million. Should everything run smoothly, the transaction is expected to be completed before the end of this calendar year.

The full amount of the proceeds is due to be received on completion of the sale.

Lendlease global CEO Tony Lombardo commented:

The divestment of the Services business, along with other recent divestments including the sale of the Engineering business and the US Telecommunications and Energy businesses, aligns with the Group strategy to be more focused on the areas where our competitive edge is the strongest.

The divestments, combined with recently announced changes to the organisational structure, better position the Group to deliver on our $110 billion development pipeline, continue to deliver our construction backlog and grow our investments platform in a more focused and efficient way.

About the Lendlease share price

Despite pushing ahead today, Lendlease shares haven’t been on a positive run for the year, down 10.8% year-to-date. The company’s share price has mostly travelled in circles for the past 12 months, failing to make any gains.

Lendlease commands a market capitalisation of roughly $8 billion, making it the 69th largest company on the ASX. The group also has approximately 688 million shares on its books.

The post Lendlease (ASX:LLC) share price edges higher on divestment news 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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