The Dubber Corp Ltd (ASX: DUB) share price is off to a weak start on Tuesday after the company successfully completed its $110 million capital raising.

At the time of writing, the Dubber share price is down 6.56% to $2.99.

Why the Dubber share price is sliding lower on Tuesday

Dubber successfully raised approximately $110 million from institutional investors in Australia and overseas at a price of $2.95 per share.

The new shares were offered at a 7.8% discount to the last closing price of $3.20.

According to today’s announcement, the new shares will be issued in two tranches.

Tranche 1 will see 33 million shares settled on Friday, 30 July.

While Tranche 2 of 4.2 million shares will be issued subject to shareholder approval at a general meeting on Thursday, 2 September.

The size and discount of the capital raising is likely a factor weighing on the Dubber share price on Tuesday.

What did management say?

Dubber CEO Steve McGovern thanked the company’s shareholders and partners.

We have been gratified by the strong response to the placement, with existing and new investors supporting our vision.

McGovern also commented on the use of funds, saying:

Dubber has a very unique opportunity in front of it to not only become one of Australia’s leading technology companies, but a true global leader in our field. The success of this capital raising will allow us to significantly accelerate our growth objectives, advance M&A opportunities and continue developing Dubber to capture the substantial global opportunity ahead of us.

M&A strategy

Despite the Dubber share price tumbling lower on Tuesday, the company has outlined ambitious plans to drive growth.

In the medium term, Dubber hopes to lift its annual recurring revenue from its current $39 million to $100 million.

Dubber outlined that “active opportunities in M&A expected to drive to conclusion in the coming two quarters”.

The company said that this would add to factors including like-for-like revenue, fast track Dubber product aspirations and product differentiation, and drive technology to increase subscription revenue through new functionality.

The post Dubber (ASX:DUB) share price slides 7% after successful $110 million capital raising 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 Dubber Corporation. The Motley Fool Australia owns shares of and has recommended Dubber Corporation. 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 Starpharma Holdings Limited (ASX: SPL) share price has been a strong performer on Tuesday morning.

In early trade, the dendrimer products developer’s shares are up 7% to $1.35.

Why is the Starpharma share price racing higher?

Investors have been bidding the Starpharma share price higher today after it provided another update on its SPL7013 antiviral agent.

According to the release, new antiviral testing demonstrates that SPL7013 has potent virucidal activity against the Delta variant of COVID-19.

The release explains that SPL7013, which is the antiviral agent in Starpharma’s Viraleze nasal spray, reduces infectivity of the virus by >99.99% after 30 seconds of exposure.

Management notes that the Delta variant of COVID-19 is believed to be the most transmissible variant yet. It has spread to at least 102 countries worldwide resulting in multiple outbreaks in Australia, Europe, India, Indonesia, Japan, the UK, and the US.

In addition, the company revealed that testing confirmed potent virucidal activity of SPL7013 against the closely related Kappa COVID-19 variant as well.

This bodes well for Starpharma, which has registered its Viraleze antiviral nasal spray for sale in Europe and India, and in certain markets via online channels. Viraleze is also partnered with LloydsPharmacy in the UK, and Starpharma is in advanced discussions with potential commercial partners in India, Europe, and multiple other regions.

Starpharma’s CEO, Dr Jackie Fairley, commented: “We are very pleased to confirm the rapid virucidal activity of SPL7013, with greater than 99.99% reduction of infectious virus in just 30 seconds against the Delta variant. The Delta variant continues to challenge public health responses worldwide – most recently triggering lockdowns and emergency restrictions in Australia, Japan, and Indonesia.”

“SPL7013, the active in Viraleze, has a deep pedigree as an antiviral compound, with consistent and compelling broad-spectrum activity against multiple respiratory viruses and now multiple variants of SARS-CoV-2,” she added.

The post Why the Starpharma (ASX:SPL) share price is racing 7% higher today appeared first on The Motley Fool Australia.

More reading

• Endeavour (ASX:EDV) share price falls amid reports of ACCC’s concerns
• Here’s how the Macquarie (ASX:MQG) share price has performed against the financial sector
• Temple & Webster (ASX:TPW) share price charges 7% higher on strong FY 2021 result
• Why the OZ Minerals (ASX:OZL) share price is jumping 10% on Tuesday
• Oil Search (ASX:OSH) share price rises on solid Q2 update

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 Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings 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 Endeavour Group Ltd (ASX: EDV) share price is down today amid reports the Australian Competition & Consumer Commission (ACCC) is keeping a close eye on the company’s acquisitions.

The competition watchdog is reportedly monitoring the liquor, hotel, and gambling giant’s plans to grow its portfolio of hotels.

Right now, the Endeavour share price is $6.45, 0.46% lower than its previous closing price.

Let’s take a closer look at today’s news on Endeavor.

ACCC eyes Endeavour

The Endeavour share price has slipped today while reports swirl the watchdog is making note of the company’s growth.

According to reporting by the Australian Financial Review (AFR), the company is aiming to grow through acquisitions of hotels and bottle shops.

However, the ACCC is keeping an eye on such acquisitions due to Endeavour’s existing hold on the market.

Jarden analyst Ben Gilbert told the publication he estimates Endeavour has ownership of around 40% of Australia’s retail liquor market.  

The company operates nearly 250 Dan Murphy stores, close to 1,400 BWS stores, and more than 330 licensed venues. It also owns a range of business-to-business and online liquor stores.

According to the AFR, gambling reform advocate Stephen Mayne wrote to the ACCC with concerns over Endeavour’s acquisition of Terrey Hills Tavern in Sydney’s north.

The ACCC reportedly replied to Mayne, saying it’s keeping an eye on Endeavour’s acquisitions in the liquor market.

The publication also stated the ACCC is in discussions with Endeavour over concerns of the company’s impact on competition.

Endeavour share price snapshot

After experiencing a slow start to its time on the ASX, the Endeavour share price has recovered and is now tracking upwards.

Endeavour shares are now trading for 7% more than when they listed on 24 June.

The company has a market capitalisation of around $11.6 billion, with approximately 1.7 billion shares outstanding.

The post Endeavour (ASX:EDV) share price falls amid reports of ACCC’s concerns appeared first on The Motley Fool Australia.

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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 Macquarie Group Ltd (ASX: MQG) share price has performed reasonably well so far this year, but how does it stack up against its peers in the financial sector.

Often dubbed the fifth-biggest bank, Macquarie is 14.7% higher than where it was at the beginning of 2021. That means shareholders can happily say they’ve outperformed the S&P/ASX 200 Index (ASX: XJO) so far this year.

However, when it comes to the financial sector, Macquarie has been outpaced.

ASX financial shares comparison

ASX-listed shares in the financial sector have had a stellar year in 2021. The only sector currently exceeding its gains is the discretionary sector. Though, the Macquarie share price hasn’t led the pack. In fact, it finds itself on the fourteenth run of the ladder for the year so far.

Making the podium finish is AUB Group Ltd (ASX: AUB), Zip Co Ltd (ASX: Z1P), and Westpac Banking Corp (ASX: WBC). These three shares have gained 40.1%, 28.5%, and 27.1% respectively.

Other ASX shares topping Macquarie in 2021 include Commonwealth Bank of Australia (ASX: CBA), HUB24 Ltd (ASX: HUB), and National Australia Bank Ltd. (ASX: NAB).

Meanwhile, two of the worst-performing shares in the sector include Omni Bridgeway Ltd (ASX: OBL) and AMP Ltd (ASX: AMP). The share prices of these two companies have fallen by 20.2% and 31.1%.

What about the Macquarie share price?

It was a soft start to the year for the Macquarie share price, falling ~6% in January. This was quickly reversed in February after the company posted its third-quarter results.

Notably, the investment bank’s annuity businesses’ quarter net profit contribution was up on the prior corresponding period.

The Macquarie share price continued to rally throughout March and April as it approached its FY21 results. In this result, Macquarie disclosed a 10% increase in net profit to $3.02 billion. Additionally, the bank announced a juiced-up dividend of $3.35 per share – up 86.1%.

Lastly, July has been a good month for the Macquarie share price. Analysts at Morgan Stanley retained their overweight rating on the investment bank this month. Additionally, the broker maintained its $175 price target.

The post Here’s how the Macquarie (ASX:MQG) share price has performed against the financial sector appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia and Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hub24 Ltd and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Austbrokers Holdings Limited and Hub24 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 Temple & Webster Group Ltd (ASX: TPW) share price is charging higher this morning.

In early trade, the online furniture and homewares retailer’s shares are up 7% to $12.43.

Why is the Temple & Webster share price charging higher?

The catalyst for the rise in the Temple & Webster share price on Tuesday has been the release of its unaudited full year results which revealed record revenue, profits, and customer numbers.

For the 12 months ended 30 June, the company reported an 85% increase in revenue to $326.3 million. This comprises first half revenue of $161.6 million and second half revenue of $164.7 million.

As expected, the company’s operating margins narrowed during the second half as management invests to capitalise on strong e-commerce growth.

This led to earnings before interest, tax, depreciation and amortisation (EBITDA) coming in 141% year on year at $20.5 million. This represents an EBITDA margin of 6.3%, down from ~9.2% during the first half.

A key driver of its growth in FY 2021 was another strong increase in customer numbers. At the end of the period, Temple & Webster’s active customers were up 62% year on year to 778,000. This means the company added 100,000 new active customers in the second half of the financial year.

Also supporting its sales growth was a 12% increase in average revenue per active customer and increased repeat purchasing.

Management commentary

Temple & Webster’s CEO, Mark Coulter, commented: “Once again Temple & Webster has delivered a record result. Revenue grew 85% across the year driven by strong growth in new and repeat customers and average order values. While lockdowns during FY20 and FY21 have accelerated the underlying shift from offline to online, pleasingly we continue to see strong growth even when comparing against Covid impacted numbers.”

“While the start of FY22 has been difficult for many Australians, we remain focused on delivering a great experience for our customers, built around the biggest and best range of furniture and homewares, combined with inspirational content and services and a great delivery experience and customer service,” added Mr Coulter.

FY 2022 trading update

Also giving the Temple & Webster share price a boost today was management’s update on its performance early in FY 2022.

The release explains that FY 2022 has started strongly with year on year revenue growth of 39% for the period 1 July to 24 July.

Management also advised that the company continues to experience strong tailwinds. This includes the ongoing adoption of online shopping due to structural and demographic shifts, an acceleration of these trends due to COVID-19, an increase in discretionary income due to travel restrictions, and strong housing market growth.

Looking ahead, the company intends to continue its reinvestment strategy, investing into growth areas of the business to grow its online market leadership position. This is part of its ultimate goal of becoming the largest retailer (online and offline) for furniture and homewares in Australia.

The post Temple & Webster (ASX:TPW) share price charges 7% higher on strong FY 2021 result 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 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 OZ Minerals Limited (ASX: OZL) share price has been a very strong performer on Tuesday morning.

At the time of writing, the copper producer’s shares are up a sizeable 10% to $24.19.

Why is the OZ Minerals share price jumping?

Investors have been driving the OZ Minerals share price higher today following the release of its second quarter update.

According to the release, the company achieved copper production of 32,681 tonnes and gold production of 57,875 ounces during the three months.

This means OZ Minerals is on course to achieve its copper production guidance of 120,000 to 145,000 in FY 2021. And positively, its gold production has been stronger than expected, leading to management increasing its guidance to 205,000 to 228,000 ounces in FY 2021. This compares to its previous guidance of 190,000 to 215,000 ounces.

This ultimately led to the company reporting first half net revenue of $986 million. This leaves OZ Minerals with an unaudited closing cash balance of $134 million and zero debt.

Better costs

Another positive boosting the OZ Minerals share price today was its cash costs. The company reported C1 cash costs of US$60.70 per pound for the quarter. This better than expected performance has led to management reducing its FY 2021 C1 cash costs guidance by US$5 per pound to US$65 to US$75 per pound.

OZ Minerals’ Managing Director and CEO, Andrew Cole, commented: “A strong second quarter from our major South Australian operations and favourable copper prices saw us finish the half in a robust financial position with a cash balance of $134 million and our corporate debt facility fully repaid from operating cashflow.”

“Full year group copper production guidance remains on track notwithstanding a lowering of annual guidance in the Carajás, Brazil, which has been impacted by direct and flow-on effects of COVID-19. Group C1 cash costs guidance has been lowered for the year, primarily due to higher by-product credits associated with expected higher gold production at Prominent Hill,” he added.

The post Why the OZ Minerals (ASX:OZL) share price is jumping 10% on Tuesday 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 Oil Search Ltd (ASX: OSH) share price is rising on Tuesday morning.

At the time of writing, the energy producer’s shares are up 1% to $3.99.

Why is the Oil Search share price rising?

Investors have been bidding the Oil Search share price higher today following the release of its second quarter update.

According to the release, Oil Search recorded a 4% quarter on quarter decline in total production to 6,589 mmboe. This was driven by weaker PNG LNG project production which offset increases in its oil production during the period.

However, thanks to stronger pricing, the company reported a 21.5% quarter on quarter increase in operating revenue to US$366.2 million. This brought its half year operating revenue to US$667.7 million, up 6.7% on the prior corresponding period.

This underpinned strong operating cashflows, allowing the company to reduce its debt by 5.3% over the three months to US$2,122.2 million.

FY 2021 guidance

Oil Search has reaffirmed its FY 2021 production, operating costs, and capital expenditure guidance.

Production is expected in the range of 25.55 mmboe to 28.5 mmboe. Whereas unit product costs are expected to be US$10.50 to US$11.50 per boe and capex is forecast to be in the range of US$250 million to US$350 million.

Oil Search’s Acting Chief Executive Officer, Peter Fredricson, said: “Oil Search delivered strong production in the latest quarter, supported by the safe completion of the major planned maintenance campaign at PNG LNG by the operator, ExxonMobil.”

“The macro environment helped drive an increase in revenue despite the planned rate reduction at PNG LNG during the quarter. Sales volumes were broadly similar to the first quarter due to careful inventory management and flexibility from using the spot market,” he added.

Mr Fredricson concluded: “While the COVID-19 outbreak continues to impact Papua New Guinea, strict operating procedures and logistical measures have ensured continued safe and reliable production with no impacts to Oil Search or ExxonMobil operated production facilities. Pleasingly, there has been strong uptake of the COVID-19 vaccine in the Port Moresby office, which has allowed nearly all staff to return to work there.”

The post Oil Search (ASX:OSH) share price rises on solid Q2 update 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Monday night to discuss the cracking results from Lynas Rare Earths Ltd (ASX: LYC), high hopes for BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO), A2 Milk Company Ltd (ASX: A2M)’s Chinese challenges and an ASX debut for Best & Less Group Holdings Ltd (ASX: BST) shares.

The post Lynas share price soars, BHP and Rio on watch, A2 on the naughty list. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips owns shares of A2 Milk. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. 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 Woolworths Group Ltd (ASX: WOW) share price has been in fine form so far this month, lifting by around 7%. This comes after the retail conglomerate last updated the ASX with its demerger of Endeavour Group Ltd (ASX: EDV) in late June.

At Monday’s market close, Woolworths shares ended the day slightly down 0.51% to $39.32. However, it’s worth noting that the company’s share price reached a record high of $39.63 yesterday.

Let’s take a closer look at what’s been helping boost the Woolworths share price in recent weeks.

What’s impacting the Woolworths share price?

Back in 2019, Woolworths announced that it planned to demerge from its 85.4% holding in Endeavour. Although the restructure was completed in 2020, COVID-19 postponed the proposer demerger until 2021.

Woolworths stated that the reason for the split was to maximise its shareholder value over time. In addition, this would also create a simpler operating model which focuses on food and everyday needs.

As the retail conglomerate focuses on its core business, COVID-19 has also helped boost the company’s share price. Despite restrictions being enforced by state governments, consumers still need to buy food and supplies.

During last year’s lockdown in Australia, panic buying led the company to experience a significant increase in sales. This so-called “pantry stocking” translated to bumper profits for Woolworths in its H1 FY21 result.

It’s possible that with half the country currently in lockdown and uncertainty around an endpoint, the company is revisiting the events of 2020.

Broker updates

Since announcing the completion of its divestment, two brokers cut their 12-month price target on Woolworths shares.

The first, Goldman Sachs, reduced its rating by 15% to $36.80 but placed a “hold” on the supermarket giant’s shares in a report released on 28 June. The multinational investment firm noted several key upside possibilities. They included:

• Industry growth and operating leverage could improve as a result of Increasing product price inflation;
• Divestment of Big W leading to potential profits;
• Increase in its wholesale business to convenience stores; and
• Sustaining market share growth.

On the other hand, Goldman Sachs also made mention of key downside risks, noting:

• Increased competition against existing competitors;
• Operating deleverage from physical store sales declines;
• Longer than expected recovery in population growth; and
• Poor management of the scaling back last year’s elevated costs.

Following suit on 5 July, Morgan Stanley decreased its outlook on Woolworths shares, citing a similar price target of $36.50, down 17%.

Woolworths share price summary

It’s been a strong 12 months for Woolworths shares, which have jumped 15% to reach a record high of $39.63 yesterday. While it’s anyone’s guess where the company’s shares will go from here, Woolworths appears to be proving its resilience in the face of the pandemic.

Woolworths presides a market capitalisation of roughly $49.85 billion, with more than 1.2 billion shares on its registry.

The post July has been a great month for the Woolworths (ASX:WOW) share price 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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The Vulcan Energy Resources Ltd (ASX: VUL) share price is on watch this morning after the company announced its spin-off’s initial public offer (IPO) has been heavily oversubscribed.

The lithium producer’s spin-off, Kuniko Limited, will be listed on the ASX under the ticker KNI.

It will take over Vulcan’s non-core, battery metal projects. As a result, Kuniko will be a zero-carbon copper, nickel, and cobalt producer with assets in Scandinavia.

Right now, the Vulcan share price is $8.91.

Let’s take a closer look at today’s news from Vulcan.

Interest in Kuniko booms

All eyes will be on the Vulcan share price this morning to see how the market reacts to news of Kuniko’s popularity.

According to Vulcan, both offers within Kuniko’s prospectus have been oversubscribed.

The first offer allowed interested parties to get their hands on one of 12.5 million shares in Kuniko for 20 cents apiece.

Vulcan shareholders also had the opportunity to grab approximately 26.93 million Kuniko shares at 20 cents apiece through a 1:4 pro rata priority offer.

The company first announced the spin-off in April. Then, the Vulcan share price dipped on the back of the news.

Kuniko’s prospectus offers have raised $7.88 million for the company’s activities. Kuniko expects to list on the ASX sometime around 23 August.

After listing, Kuniko will have around 59.4 million fully diluted shares outstanding and, according to Vulcan’s latest announcement, more than 2000 shareholders. It expects to have a fully diluted market capitalisation of approximately $11.8 million.

At its current share price, Vulcan has a market capitalisation of around $969 million.

Kuniko’s directors didn’t include financial guidance in the company’s prospectus. Its prospectus said its operations are uncertain and any guidance would be too broad to be useful.

Vulcan share price snapshot

The Vulcan’s recent performance on the ASX has been superb.

Vulcan shares are currently trading for 222% more than they were at the start of 2021. They have also gained a whopping 1,682% since this time last year.

The post Vulcan (ASX:VUL) share price on watch following spin-off IPO update appeared first on The Motley Fool Australia.

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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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