Shares in Leigh Creek Energy Ltd (ASX: LCK) were flying high this morning after the company broke its 3-day trading halt with major news of its energy project.

After touching a high of 30 cents in opening trade, the Leigh Creek Energy share price has retreated to 28 cents at the time of writing, up 3.7%.

Let’s take a closer look at the energy company’s news.

Leigh Creek Energy Project

Leigh Creek announced it has signed a binding heads of agreement (HoA) for a urea manufacturing facility with South Korean engineering and construction company DL E&C.

Under the agreement, DL E&C will become the engineering, procurement, construction, and commissioning (EPCC) contractor at the Leigh Creek Energy Project, a large-scale power plant and construct urea plant in South Australia.

As EPCC contractor, DL E&C will begin work on the project’s feasibility and front end engineering and design (FEED) stages. The contractor will finance the project with Leigh Creek Energy’s assistance, building it for a to-be-decided turn-key price.

The project is located in the disused Leigh Creek Coalfield. It will produce syngas from the resource that is no longer economic to mine using an in-situ gasification process. Leigh Creek Energy will use the syngas to produce urea fertiliser with hydrogen optionality.

According to the company, the Leigh Creek Energy project will be the only fully integrated urea production facility in Australia. It said the project would create thousands of jobs during construction, commissioning and operation.

Commentary from management

Leigh Creek Energy managing director Phil Staveley commented on the news, saying:

This HoA is a major milestone for [Leigh Creek Energy] as we are partnering with a leading global organisation with huge experience.

We have chosen DL E&C from a pool of contenders as we are confident that they can deliver a first class urea production facility which will employ the latest innovative technology and that they will be a reliable partner.

Leigh Creek Energy share price snapshot

Leigh Creek Energy’s trading halt was watched closely by ASX investors waiting to hear the company’s announcement.

With today’s gains included, the Leigh Creek Energy share price is up 61.7% year to date. It’s also up 205% over the last 12 months.

The energy company has a market capitalisation of around $179 million, with approximately 675 million shares outstanding.

More reading

• What’s happening with the Dexus (ASX:DXS) share price today?
• ASX 200 up 0.2%: SEEK hits record high, Flight Centre tumbles
• A foldable iPhone is coming from Apple in 2023, analyst says
• Why the Odyssey Gold (ASX:ODY) share price is rocketing 118% higher today
• Nine (ASX:NEC) share price edges higher on third quarter update

Motley Fool contributor Brooke Cooper 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 Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.2% to 7,041.9 points.

Here’s what is happening on the market today:

SEEK share price hits record high

The SEEK Limited (ASX: SEK) share price stormed to a record high this morning following the release of an update. The update revealed that all conditions precedent to completion of the Zhaopin transaction have been satisfied. Following its divestment, management intends to return some of the proceeds to shareholders via a 20 cents per share special dividend. SEEK also revealed that its performance has been stronger than expected in FY 2021. As a result, it has upgraded its guidance.

Flight Centre Q3 update disappoints

The Flight Centre Travel Group Ltd (ASX: FLT) share price is trading lower today following the release of a third quarter update. That update revealed that trading was subdued in January and February before bouncing back strongly in March. Nevertheless, despite these improvements, Flight Centre advised that it expects to report an underlying second half loss in line with the one recorded in the first half.

Super Retail impresses

The Super Retail Group Ltd (ASX: SUL) share price is pushing higher today after reporting an acceleration in its sales growth since the end of the first half. According to the release, the retail conglomerate’s like for like sales grew 28% during the first 44 weeks of FY 2021. This compares to its first half (26 weeks) like for like sales growth of 24%.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the De Grey Mining Limited (ASX: DEG) share price with a 9% gain. This follows the release of drill results from the Diucon-Eagle mining sites in the Hemi prospect. The worst performer has been the Mercury NZ Ltd (ASX: MCY) share price with a 5% decline on no news.

More reading

• What’s happening with the Dexus (ASX:DXS) share price today?
• De Grey (ASX:DEG) share price rockets 11% on latest update
• SEEK (ASX:SEK) share price jumps 7% to record high on trading update
• Super Retail (ASX:SUL) share price surges 5% higher on strong sales update
• Flight Centre (ASX:FLT) share price lower following Q3 update

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and SEEK 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 article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The next upgrade cycle for Apple (NASDAQ: AAPL) iPhones is going to be part of a “super replacement cycle,” and an analyst is predicting the tech giant will be offering a foldable iPhone in 2023 to coincide with the trend.

MacRumors reported on Sunday that it has seen a research note to investors from TF International Securities analyst Ming-Chi Kuo, who says the feature-rich phone will offer an 8-inch QHD+ flexible OLED display. He forecasts Apple will ship 15 million to 20 million foldable iPhones in 2023.

In a rather upbeat and bullish note, Kuo said Apple is likely to be the biggest winner among manufacturers of foldable smartphones, which will become the obligatory tech that consumers need to have.

Currently, a foldable phone is designed to bring together the convenience and power of a smartphone and tablet computer, but further technological developments will add in the discrete capabilities of laptops, too.

Kuo wrote that Apple has a powerful, long-term edge over the competition. “With its cross-product ecosystems and hardware design advantages, Apple will be the biggest winner in the new foldable device trend,” he said.

The analyst says development hasn’t officially begun yet on the foldable iPhone, but he was making the prediction based on his latest industry survey.

Samsung has been a leader in foldable phones, releasing the Galaxy Fold in 2019. It has since been joined by LG and Motorola, though LG announced it was exiting the smartphone market.

Kuo believes all major smartphone manufacturers will need to have a foldable device, since it will be the center point of the next “super replacement cycle” for high-end models. But this is not the first time speculation has surfaced over Apple developing a foldable phone.

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

More reading

• What Warren Buffett learned from investing during a global pandemic
• ASX 200 Weekly Wrap: Shares have average week but a great month
• Retail just changed. Forever…
• Why Facebook and Apple couldn’t lift the Nasdaq Thursday
• Tesla and Coinbase continue to dominate Aussie’s US share picks

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Apple and recommends the following options: short March 2023 $130 calls on Apple and long March 2023 $120 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.

Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120.0 calls on Apple and short March 2023 $130.0 calls on Apple. The Motley Fool has a disclosure policy.

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The Odyssey Gold Ltd (ASX: ODY) share price has been an incredible performer on Tuesday.

In morning trade, the gold explorer’s shares were up a whopping 118% to a record high of 15.5 cents.

The Odyssey Gold share price has now given back some of these gains but remains 69% higher at 12 cents at the time of writing.

Why is the Odyssey Gold share price rocketing higher?

Investors have been scrambling to buy the company’s shares on Tuesday following the release of an update on its exploration activities at the Tuckanarra project.

As you might have guessed from the performance of the Odyssey Gold share price, the update was a very positive one.

According to the release, Odyssey has intersected significant visible gold in its maiden diamond hole. This was a 70 metre step-out in the eastern extension of the developing Bottle Dump deposit at Tuckanarra.

Management notes that this is the first ever drilling in an untested area, with the visible gold mineralisation associated with the nearby basal quartz vein system.

It believes this indicates a second mineralised domain, parallel to the mineralisation in the main mine banded-iron formation sequence.

Odyssey Gold’s Executive Director, Matt Syme, commented: “The impressive visible gold intersected at Bottle Dump confirms the strong potential of the Bottle Dump trend to host high-grade gold mineralisation. The visible gold in TCKDD0003 and the 13m at 3.9g/t in TKRC0014 have extended known gold mineralisation over 100m to the east of the Bottle Dump pit.”

“The potential extent of the Bottle Dump trend is up to 3km and the known gold mineralisation is open to the east and west and at depth. Odyssey has consolidated some of the best gold exploration ground in the Western Australian Goldfields and we are looking forward to applying modern exploration techniques to uncover the area’s outstanding potential,” he concluded.

The Odyssey Gold share price is now up almost 400% since its re-listing at 2.5 cents per share in January.

More reading

• The Nine (ASX:NEC) share price rising on third quarter update
• Here’s why the Archer (ASX:AXE) share price is soaring 6% today
• Why the Telstra (ASX:TLS) share price could be heading higher from here
• Why Alphabet stock jumped 14% last month
• De Grey (ASX:DEG) share price rockets 11% on latest update

Motley Fool contributor James Mickleboro 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 Nine Entertainment Co. Holdings Ltd (ASX: NEC) share price has provided key third-quarter updates as part of its presentation to the Macquarie Australia Conference. 

At the time of writing, the Nine Entertainment share price is trading for $2.85, up 0.71%. 

Nine third-quarter update

Nine estimates that by FY22, more than half its revenue will come from digital growth segments. This includes subscription and licensing such as Stan, marketplaces including its majority shareholding of Domain Holdings Australia Ltd (ASX: DHG), and online advertising.

To date, the company has made an impressive transition and investment into digital growth segments. At the same time, it has been building on its core broadcasting and traditional advertising businesses. 

Solid broadcasting performance 

Nine’s broadcasting segment contributed to approximately 53.5% of the Group’s revenue in 1H21. Free-to-air (FTA) television is a significant driver of this segment, responsible for 85% of broadcasting revenue. 

The trading update highlights a 6% increase on the prior corresponding period (pcp) for Metro FTA market revenue. While broadcast-video-on-demand (BVOD) market revenue was 50% higher with growth trends expected to continue into the fourth quarter. Despite the strong growth of BVOD, it is worth noting that these segments only contributed approximately 9% of overall broadcasting revenues in 1H21. 

Digital subscriptions driving publishing revenues 

Nine’s publishing segment contributed to 22% of the Group’s revenue in 1H21. This segment is heavily driven by the growth of digital revenues, whereas print-related growth has either plateaued or is in decline. 

Digital subscription revenue continued to grow strongly into the third quarter, up 20% on the prior corresponding period. The company has also clamped down on publishing costs, down double digits in FY21. 

Nine is notes that it is in advanced discussions with Google and Facebook. 

Streaming services growth consolidating

Nine reveals that subscriber numbers for its Stan streaming service is consolidating post-COVID. The plateauing near-term growth of streaming services should come as no surprise following Netflix’s disappointing first quarter earnings. Nine eyes the commencement of Stan Sports and deal with NBCUniversal content to drive medium term subscriber numbers. 

The update notes that second half earnings before interest, taxes, depreciation, and amortisation (EBITDA) will be lower than the first half due to content phasing. Stan delivered a 28% increase in revenue to $14.9.1 million in 1H21, or approximately 12.8% of Group revenue. 

Hot property market driving Domain earnings 

Digital revenue was up 8% and total revenue was up 2% in the third quarter. The update highlights that April’s new residential listings rebounded strongly from April 2020’s COVID-impacted base. Property indicators remain positive evidenced by record property search volumes, open home attendances, clearance rates, and new account creation at Domain Home Loans.

More reading

• Broker tips REA Group (ASX:REA) share price to shoot higher from here
• Top broker picks ASX shares next in line for a profit upgrade
• Why the REA (ASX:REA) share price could be in for an ‘earnings super cycle’
• Seven (ASX:SWM) share price is up today despite ‘secret loan’ revelations
• Prime Media (ASX:PRT) share price unmoved as ACM tightens grip

Motley Fool contributor Kerry Sun 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 Archer Materials Ltd (ASX: AXE) share price is lifting off during morning trade following the company’s announced partnership agreement.

At the time of writing, the advanced material company’s shares are going for 90.5 cents a pop, up 6.4%.

What’s driving the Archer share price higher?

Investors are pushing Archer shares higher today after the company provided a positive update.

According to its release, Archer advised it has executed a new quantum computing agreement with IBM Common Stock (NYSE: IBM).

Under the framework, both companies will work together in developing quantum computing. Archer will retain membership to the global IBM Quantum Network as well as the related IBM Quantum Start-up Program.

In addition, the collaboration also gives Archer the opportunity to advance its work under the previous agreement signed with IBM. This entailed Archer becoming a member of the invitation-only IBM Q Network and associated IBM Quantum Experience for Business program.

As a result of the agreements, Archer will have continued access to IBM’s quantum computing knowledge and resources. This supports the company’s efforts in building a qubit processor chip that can operate at room temperature and integrate into modern electronics.

Current quantum computing technologies are limited because they use qubit processors that can only operate at low temperatures and are difficult to integrate into today’s applications.

Archer CEO, Dr Mohammad Choucair hailed the partnership with IBM, saying:

We are at an early stage in terms of the work that needs to be done with IBM, so we are looking forward to our continued collaboration.

When we see what has been achieved in the quantum ecosystem to date, we are determined to actively engaging in, and contributing to, the global IBM Quantum Network.

Archer is making crucial steps towards its goal of enabling practical quantum computing applications, and IBM is helping us get there.

The Archer share price has gained over 350% in the past 12 months and is currently sitting above 60% year-to-date.

More reading

• Here’s why the Archer Materials (ASX:AXE) share price is up today
• Archer (ASX:AXE) share price retreats despite positive update

Motley Fool contributor Aaron Teboneras 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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On Tuesday morning, the Telstra Corporation Ltd (ASX: TLS) share price hasn’t been able to build on yesterday’s solid gain.

At the time of writing, the telco giant’s shares are down slightly to $3.48.

Why did the Telstra share price rise on Monday?

Investors were buying Telstra’s shares on Monday in response to some positive industry news.

That news was that arch-rival Optus has raised the pricing on all its mobile plans by $6 per month. This represents an 8% to 15% increase and is meaningfully larger and earlier than experts were expecting.

According to a note out of Goldman Sachs, its analysts note that this means its entry level price point has lifted to $45 per month, which will be accretive to Optus’ reported average revenue per user (ARPU).

What does this mean for Telstra?

While Goldman doesn’t expect the changes to impact Telstra’s pricing, it believes the overall impact to the Australian mobile market will be positive and support industry ARPU growth.

The broker does, however, see this as an opportunity for TPG Telecom Ltd (ASX: TPG) to lift prices.

Goldman said: “We believe these changes provide a clear opportunity for Vodafone (TPG) to follow, and remove the $5/m discounts it currently has across its plans. However we do not expect Telstra to change its pricing, as Optus’ increase follows the 5G price increases implemented by Telstra in July-20. Instead, we believe Telstra will continue to focus on up-selling customers to higher tiers.”

“Overall these changes support our positive view on the Australian Mobile market, which we believe is set for an extended period of ARPU growth as the industry looks to generate adequate returns on 5G investment and recovers from intense competition/lost mobile roaming revenue.”

Is the Telstra share price in the buy zone?

Goldman remains very bullish on Telstra and has retained its buy rating and $4.00 price target.

It said: “We stay Buy on Telstra ahead of the earnings’ inflection, believing that it will re-rate as it becomes a ‘simpler’ telco post NBN completion, along with further upside from possible asset monetisations.”

And although its sees positives from Optus’ price increases for TPG Telecom, it isn’t enough for a buy recommendation. It has held firm with its neutral rating and $7.10 price target.

It explained: “We stay Neutral on TPG as despite favorable mobile market trends and valuation support emerging, we remain cautious given: (1) Vodafone’s 5G network meaningfully lags TLS/Optus, while in-market mobile pricing is lower yoy; (2) TPG trading multiples are still in-line with TLS; and (3) The unexpected departure of the Chair and upcoming escrow completions (i.e., escrows on over 64% of TPG equity finish Jul-22) are likely to remain an overhang on the share price.”

More reading

• 2 quality ASX dividend shares that will help you beat low interest rates
• Why is the Telstra (ASX:TLS) share price rising today?
• ASX 200 Weekly Wrap: Shares have average week but a great month
• Should you always reinvest your ASX dividends with a DRIP?
• What happened to the Telstra (ASX:TLS) share price in April?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Telstra (ASX:TLS) share price could be heading higher from here appeared first on The Motley Fool Australia.

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

What happened

Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) were climbing higher last month after the Google parent gained early in the month amid bullishness over the economic reopening and a rise in the broad market. The stock jumped again at the end of April after it delivered a better-than-expected first-quarter earnings report, and it got a number of bullish analyst notes and upgrades along the way.

According to data from S&P Global Market Intelligence, the stock finished the month up 14%. The chart below shows its gains.

GOOGL data by YCharts.

So what

Alphabet shares jumped out to a strong start in April amid a broader bullishness in the market as President Joe Biden unveiled a $2.3 trillion infrastructure bill, and the March jobs report was better than expected, showing the economy added nearly 1 million jobs. Both items, along with an accelerating vaccine rollout, helped drive Alphabet shares higher since the company’s performance, as an advertising business, is highly correlated with the overall health of the economy. 

Several analysts raised their price targets on the stock over the course of the month, including Wedbush, which added the stock to its best ideas list, seeing its opportunity being accelerated in the reopening.

And the stock rose 3% on April 28 after the company beat estimates by a wide margin in its first-quarter earnings report. Revenue jumped 34% to $55.3 billion, lapping the beginning of the lockdowns a year ago and beating estimates at $51.7 billion. On the bottom line, operating income doubled, and the company finished with earnings per share of $26.29, which was well ahead of estimates at $15.82. Growth in its advertising business, especially YouTube, was strong, and cloud revenue jumped 46% to $4 billion.

Now what

Alphabet shares are now up 33% as the tech giant is well positioned to benefit from the economic reopening, which is already driving a surge in advertising demand. Additionally, shares of the Google parent offer great value, trading at a price-to-earnings ratio of just 27. Don’t be surprised to see the tech stock continue to march higher this year.

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

More reading

• How high can Microsoft’s and Alphabet’s margins go?
• Seven West (ASX:SWM) share price wobbles on market update
• Retail just changed. Forever…
• ACCC sends a warning shot at Apple and Google app stores
• Alphabet topped Wall Street’s earnings targets by 66%

Jeremy Bowman has no position in any of the stocks mentioned. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool Australia has recommended Alphabet (A shares) and Alphabet (C shares). 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 De Grey Mining Limited (ASX: DEG) share price is surging today. At the time of writing, shares in the gold miner are trading for $1.55 – up 11.5%. By comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.31% higher.

The company comes into focus this morning as it announces “significant” drilling results at one of its sites in the Pilbara region of Western Australia.

Let’s take a closer look at today’s news and what it means for the De Grey share price.

What’s affecting the De Grey share price?

In a statement to the ASX, De Grey Mining says initial drill results at the Diucon-Eagle mining sites in the Hemi prospect have confirmed a large mineralised system.

The company highlighted the following results:

• a 14m wide ore with 21.2g of gold per tonne.
• a 19m wide ore with 4.4g of gold per tonne.
• a 17m wide ore with 5.7g of gold per tonne, and
• a 61m wide ore with 2.g of gold per tonne.

De Grey says the results “demonstrate the potential to rapidly and cost-effectively” add to its site gold endowment.

Investors are reacting well to today’s news, judging by the De Grey share price climb.

Management commentary

De Grey managing director Glenn Jardine said:

These recent results at Diucon and Eagle confirm the presence of a large mineralised system in the west of Hemi. Both zones remain open to the west toward Antwerp. Diucon and Eagle represent another step change to the gold endowment at Hemi.

RC drilling to determine the overall scale along strike continues and diamond drilling of potential down dip extensions is expected to commence during the quarter.

Gold commodity price

Gold is currently trading on the commodity market for around US $1,790 per troy ounce. It’s down 5.54% since the beginning of the year and 13.4% lower compared to its record of US $2,069 per troy ounce. Gold hit that record in August last year. However, it is 3.6% higher over the last month.

The website Trading Economics attributes the precious metals recent rise to “a weaker dollar and lower treasury yields” as well as fears over rising COVID cases in parts of the world. Gold is seen as a safe investment by some investors, according to the website.

De Grey share price snapshot

Over the past 12 months, the De Grey share price has increased 308.2%. Its share price shot up 16% on 23 April, as the miner announced preliminary results at other sites in the Hemi prospect.

De Grey has a market capitalisation of $1.9 billion.

More reading

• ASX 200 up 0.5%: Coles Q3 update, Westpac settles class action, JB Hi-Fi loses its CEO
• Why the De Grey Mining (ASX:DEG) share price is surging 16% higher
• Why Accent, AMP, De Grey, & Nuix shares are charging higher
• Why the De Grey Mining (ASX:DEG) share price is dropping today
• Why the De Grey Mining (ASX:DEG) share price is on watch today

Motley Fool contributor Marc Sidarous 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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Infomedia Limited (ASX: IFM) shares are heading higher today after the company provided an acquisition update. At the time of writing, the Infomedia share price is trading at $1.64, up by 4.13% for the day so far.   

Infomedia provides software and data insights solutions to the global automotive industry. Below we take a look at the company’s acquisition announcement.

What acquisition did Infomedia announce?

The Infomedia share price is in the green today after the company reported its wholly owned subsidiary, IFM Americas Inc, has entered into an agreement to acquire SimplePart.

SimplePart is an e-commerce platform based in the United States. It designs and manages e-commerce programs for some of the world’s leading car manufacturers, enabling them to sell directly to consumers.

Infomedia has agreed to pay an upfront consideration of US$24.5 million (AU$31.4 million), plus an earn-out of up to US$20.5 million over 3 years.

Infomedia will pay the US$24.5 million upfront consideration from its existing cash reserves. It said it will pay the earn-out in cash while maintaining the right to pay up to 20% of earn-out payments in its shares.

SimplePart revenue came in at approximately US$10 million over the 12 months to 31 March. According to the release, SimplePart is forecast to achieve low double-digit growth rates in 2021 and 2022 “before synergies”.

The Infomedia share price opened almost 5% higher following the company’s update but has since partially retreated to its current level.

Commenting on the acquisition, Infomedia CEO Jonathan Rubinsztein said:

This is a very exciting acquisition as auto e-commerce is a strategic extension of our core global offering. SimplePart enables Infomedia to further penetrate the automaker parts ecosystem and transforms our presence in the Americas.

SimplePart founder Cole Getzler added:

This transaction is a unique opportunity for SimplePart to partner with a global leader in parts and service software that shares our philosophy of developing and delivering innovative, industry-leading fixed operation solutions. We are looking forward to sharing our solutions globally.

The transaction is expected to be completed by 30 June, subject to the customary conditions being met. 

Infomedia share price snapshot

It’s been a bit of a rollercoaster for shareholders this year, with the Infomedia share price now up 4.5% over the past 12 months. By comparison, the All Ordinaries Index (ASX: XAO) is up 35% over that same time.

Year to date, Infomedia shares are down by around 14%.

More reading

• These oversold ASX tech shares are ripe for the picking

Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Infomedia. The Motley Fool Australia has recommended Infomedia. 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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