• Why this ASX 200 real estate share is plunging 17% today

    A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.

    S&P/ASX 200 Index (ASX: XJO) real estate share Lifestyle Communities Ltd (ASX: LIC) is under heavy selling pressure today.

    Lifestyle Communities shares closed Friday trading for $12.57. In early afternoon trade on Monday, shares in the retirement communities company are changing hands for $10.44, down 17.0%.

    For some context, the ASX 200 is up 0.9% at this time and hitting new record highs.

    Here’s what investors are mulling over today.

    The Lifestyle Communities share price is tanking today following media accounts that some residents are taking legal action involving allegedly misleading marketing practices and questionable exit fees charged when residents sell their homes.

    Retired policeman Geoff Gauci bought a Lifestyle Communities development at Wollert, in Melbourne, where owners buy the dwelling and lease the land.

    According to Gauci (quoted by ABC News):

    The way it was presented to me and my wife, I expected everything to be above board, knowing that I’m dealing with Lifestyle, a publicly listed company. I did my homework, and I checked on them. And I would have assumed that everything was kosher.

    18 months later, he had a decidedly different take on the ASX 200 real estate share.

    “To me, it’s like I’m in a financial prison. I’ve got to bail myself out in order to get out, and it’s just wrong,” he said.

    And Gauci is not alone.

    As ABC News reports:

    80 residents at the Wollert Lifestyle Community have quietly lodged a claim against Lifestyle Communities in the Victorian Civil and Administrative Tribunal (VCAT) over fees they believe are excessive and in breach of the law.

    The ASX 200 real estate share earns roughly $13 million a year from exit fees.

    Lifestyle Communities responds

    This morning, Lifestyle Communities responded to ABC’s coverage.

    Management said they’ve been engaging with the group of homeowners since February 2024. However, those homeowners have not been satisfied with the company’s responses and have commenced legal proceedings.

    The company said it “respects the rights of homeowners to pursue the VCAT pathway and believes this is the appropriate forum for resolution of the matter”.

    Noting that its policies are consistent with other industry operators, the ASX 200 real estate share said it rejects the allegations made in the VCAT applications and will defend them accordingly.

    “Deferred management fees are permissible in all states except for South Australia. In Victoria, most land lease operators charge a deferred management fee,” the company stated.

    Additionally, Lifestyle Communities highlighted that, “All fees clearly articulated and explained on our website and in our marketing materials.”

    Homeowners sign off on fee acknowledgements at each stage of the sales process.

    With today’s intraday losses factored in, the ASX 200 real estate share is down a painful 42% over 12 months.

    The post Why this ASX 200 real estate share is plunging 17% today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Lifestyle Communities Limited right now?

    Before you buy Lifestyle Communities Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Lifestyle Communities Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

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    See The 5 Stocks
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    More reading

    Motley Fool contributor Bernd Struben 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 Scott Phillips.

  • BlackRock says the Trump rally shooter appeared in one of its 2022 ads filmed at Bethel Park High School

    People watch television news at a bar in Milwaukee displaying images from a campaign rally for former US President Donald Trump.
    Former President Donald Trump was attacked by a gunman identified by authorities as Thomas Crooks, whom BlackRock said also featured in an ad about a teacher at Bethel Park High School.

    • The Trump rally shooter featured briefly in a BlackRock ad from 2022, the company said.
    • Thomas Matthew Crooks "appeared in the background" during the ad and was not paid, per BlackRock.
    • Crooks can be seen in a 30-second ad focusing on an AP Economics teacher in Bethel Park High School.

    BlackRock, the world's largest money manager, said on Sunday that it had removed one of its ads from 2022 that featured Thomas Matthew Crooks, the 20-year-old identified by authorities as the man who shot and injured former President Donald Trump.

    The company told Bloomberg and Reuters that Crooks was a student who was briefly seen in the ad and was not paid for his appearance.

    "In 2022, we ran an ad featuring a teacher from Bethel Park High School, in which several unpaid students briefly appeared in the background, including Thomas Matthew Crooks," the company said in a statement to Reuters.

    Crooks graduated from Bethel Park High School in 2022 and was reported that year to have received a $500 award from the National Math and Science Initiative.

    BlackRock gave neither outlet further information about the footage but told Bloomberg it would remove the ad from circulation and provide the clip to authorities.

    The company also called the assassination attempt on Trump "abhorrent."

    Crooks appears briefly in a 30-second TV BlackRock ad featuring an AP and Honors Economics teacher at Bethel Park High School. In the clip, Crooks is seen in a classroom and appears to be speaking to the teacher.

    BlackRock's press teams did not immediately respond to a request for comment sent outside regular business hours by Business Insider.

    Authorities said agents shot Crooks dead after he opened fire on Trump at a Saturday rally in Pennslyvania. Trump said later that his ear was struck by at least one bullet, causing it to bleed.

    The FBI has designated the incident as an assassination attempt.

    BlackRock, which oversees about $9.1 trillion in assets, is expected to release its Q2 earnings on July 15.

    Read the original article on Business Insider
  • Sam Altman says, post-Trump assassination attempt, that he’s ‘thinking a lot about what a difference an inch can make to history’

    Sam Altman speaking at a Time magazine event; Donald Trump being rushed offstage following a failed assassination attempt during a rally in Pennsylvania.
    "Thinking a lot about what a difference an inch can make to history," OpenAI CEO Sam Altman said of former President Donald Trump's close brush with an assassin's bullet on Saturday.

    • OpenAI CEO Sam Altman made a call for unity following the failed assassination of Donald Trump.
    • The tech billionaire said the nation needs to "turn down the rhetoric and find slightly more unity."
    • "I am happy to see most Democrats having the grace to step up and lead on this point," Altman said.

    The failed assassination attempt on former President Donald Trump has left OpenAI CEO Sam Altman with a lot to think about.

    "Thinking a lot about what a difference an inch can make to history," Altman wrote in an X post on Sunday.

    "Hoping this can be a moment where we stare into the abyss and be grateful that there but for the grace of god went we, and collectively decide to turn down the rhetoric and find slightly more unity," he continued.

    Altman also commended the Democratic Party's response toward the shooting: "I am happy to see most Democrats having the grace to step up and lead on this point, and resisting the urge to both-sides it."

    Representatives for Altman didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.

    https://platform.twitter.com/widgets.js

    On Saturday, a gunman tried to assassinate Trump during a campaign rally in Butler, Pennsylvania.

    The Secret Service said that one rallygoer died in the shooting while two others were left critically injured. The shooting suspect, a 20-year-old man named Thomas Matthew Crooks, was shot dead.

    Trump later said in a Truth Social post on the same day that he'd been wounded by "a bullet that pierced the upper part of my right ear."

    After the shooting, Altman, like other business leaders, posted that they were relieved Trump got out safe.

    According to Texas Rep. Ronny Jackson, Trump's former White House doctor, Trump said he survived the shooting because he happened to tilt his head to look at a chart on immigration statistics.

    "He said, 'If I hadn't pointed at that chart and turned my head to look at it, that bullet would have hit me right in the head,'" Jackson, who'd previously served as Trump's White House physician, told The New York Times in an interview on Sunday.

    Like Altman, both Trump and President Joe Biden made similar calls for unity.

    "In this moment, it is more important than ever that we stand United, and show our True Character as Americans, remaining Strong and Determined, and not allowing Evil to Win," Trump wrote in a Truth Social post on Saturday.

    "Let's remember, here in America, while unity is the most elusive of goals right now, nothing is more important for us now than standing together. We can do this," Biden said in an Oval Office address on Sunday.

    Read the original article on Business Insider
  • ‘House of the Dragon’ keeps teasing a blacksmith named Hugh — here’s why he’ll likely be an important character

    tom glynn-carney as aegon targaryen in house of the dragon. he's sitting in a high backed chair, playing with a steel dagger, and looking across a table
    Tom Glynn-Carney as Aegon II Targaryen in "House of the Dragon" season two.

    • "House of the Dragon" teased a major character in its season two premiere.
    • Hugh is a blacksmith, and one of the common folk in King's Landing. 
    • But in "Fire and Blood" he plays a major role — read ahead if you want to be spoiled! 

    Warning: Spoilers ahead through season two, episode five of "House of the Dragon" and the book "Fire and Blood."

    "House of the Dragon" is keeping us on our toes in season two — and the premiere briefly introduced an important figure from George R.R. Martin's book "Fire and Blood." Now, a few episodes in, we're starting to learn a bit more about him.

    In the season two premiere, Aegon II Targaryen hears petitions from the common folk. One of the petitioners is more important than the others: Hugh the blacksmith (Kieran Bew), who asks Aegon for an advance on the smiths' payment for weapons.

    If you couldn't tell by the lingering, close-up shot of Hugh's face during his introduction, here's your PSA: You should remember his face. Assuming he's the same Hugh from "Fire and Blood," the book on which "House of the Dragon" is based, we'll see much more of him down the line.

    Hugh is shown in 'House of the Dragon' as a father

    In season two, episode two, Hugh and his wife converse at their home about the price of food as they tend to their sick daughter. Hugh assures his wife that Aegon has promised him an advance — but she's skeptical.

    By episode five, the money hasn't come through. Aegon is badly injured after his clash with Rhaenys, Aemond, and their dragons Meleys and Vhagar, and his brother Aemond is ruling in his stead. With King's Landing falling into unrest, Hugh's wife urges him to leave for Tumbleton, where her brother resides. Hugh is reluctant, but the couple attempts to leave the city with their daughter.

    Unfortunately, they fail, stalled by Aemond's order to close the city gates. But at the end of episode five, Rhaenyra's son Jacaerys has an idea to seek out others with Targaryen blood who could mount a dragon — and it's one that could potentially bring Hugh into the fold.

    In 'Fire and Blood,' Hugh is a dragonrider

    During the Dance of the Dragons, as recounted in "Fire and Blood," Jacaerys decides to recruit potential dragonriders from the breadth of Targaryen bastards. He puts out a call for recruits, promising rewards like knighthood, lands, and glory to those who are able to successfully mount a dragon.

    Not everyone was able to do so. According to "Fire and Blood," Grand Maester Munkun (one historical source) recounted that 16 men died during the trials, while tens of them were injured. Hugh, a "blacksmith's bastard" with incredible physical strength, mounted the dragon Vermithor. Others also succeeded, mounting the dragons Silverwing, Seasmoke, and Sheepstealer.

    Vermithor — we know him, right?

    That you do. "House of the Dragons" viewers encountered Vermithor in season one. The previous mount of King Jaehaerys, Viserys' predecessor, and was riderless after his death.

    Daemon Targaryen very briefly encounters Vermithor in the season one finale when he seeks him out underneath Dragonstone. Singing a song in High Valyrian, Daemon doesn't seem to get very far with Vermithor — but he doesn't get burnt to a crisp, which is still a net win.

    Matt Smith as Daemon Targaryen standing in front of Vermithor.
    Matt Smith as Daemon Targaryen standing in front of Vermithor.

    Vermithor isn't the biggest dragon that we've seen in "House of the Dragon" — that honor goes to Aemond's big, beautiful girl Vhagar — but he's still pretty big.

    Now, if you want potential major spoilers for the show…

    What happens to Hugh in the books?

    The fictional history of Westeros recounts how Hugh fought in the war as a dragonrider. In one battle, Rhaenyra's forces clashed with a naval fleet from the Triarchy, with whom Otto Hightower had engineered an alliance. During the battle, Hugh and Vermithor fought alongside the dragons Silverwing, Sheepstealer, Seasmoke, their riders, Jacaerys, and his dragon Vermax.

    However, Hugh and Ulf White, Silverwing's rider, defected later in the war during the battle of Tumbleton, though their motivations were disputed in the historical record. Their betrayal caused the city to fall into the hands of Ormund Hightower's forces, accompanied by Prince Daeron Targaryen, as well as Hugh and Ulf themselves.

    Hugh eventually demanded to sit on the Iron Throne himself, leading the lords under Daeron's command to conspire to kill him. However, Addam Velaryon, bonded to Laenor Velaryon's former dragon Seasmoke, attacked the town. During the subsequent second battle of Tumbleton, Hugh was killed.

    "House of the Dragon" season two airs Sundays at 9 p.m. ET on HBO and is streaming on Max.

    Read the original article on Business Insider
  • Aegon’s fate on ‘House of the Dragon’ is left unclear — here’s how he dies in the books

    Tom Glynn-Carney as Aegon Targaryen in "House of the Dragon."
    Tom Glynn-Carney as Aegon Targaryen in season two, episode four of "House of the Dragon."

    • Aegon suffers a pretty bad fall in season two, episode four of "House of the Dragon."
    • We got an update on his condition in the latest episode, and it's not pretty.
    • Here's where Aegon stands in the show and what happens to him in "Fire in Blood" — spoilers ahead, obviously.

    Warning: Spoilers ahead for season two, episode five of "House of the Dragon" and the book "Fire and Blood."

    "House of the Dragon" finally stopped pulling its punches, and it's time for all-out war.

    That's right: Dragons are finally on the table in the war between Rhaenyra Targaryen and her half-brother, Aegon II, over the Iron Throne. Season two, episode four depicted the Battle of Rook's Rest, an event from its source material, "Fire and Blood," that exacts a heavy toll.

    Instead of predictably heading to seize Harrenhal from Prince Daemon, Ser Criston Cole leads his forces instead to Rook's Rest. It's seemingly a ploy to lure one of Rhaenyra's dragons out, and it works: Rhaenyra sends Princess Rhaenys and her dragon, Meleys, the "Red Queen."

    Unfortunately for Criston Cole and Aemond, his partner in crime, Aegon chooses that moment to take charge, flying into the battle on his dragon Sunfyre. The episode leaves Aegon's fate ambiguous — but episode five gave us an update on his condition. Past that, we can look to "Fire and Blood" for clues. If you care about book spoilers (and, in turn, potential show spoilers), turn back.

    Tom Glynn-Carney as Aegon Targaryen.
    Glynn-Carney as Aegon.

    Aegon chooses the wrong moment to play the hero

    All in all, Criston and Aemond had a pretty good plan at Rook's Rest: lure one of Rhaenyra's dragons out, and destroy them with Vhagar, Aemond's gigantic mount.

    But Aegon is far more spurned, and far more foolish, than either of them planned. And when he arrives on the battlefield with Sunfyre, it's immediately clear that Rhaenys and Meleys have him outmatched. Meleys grievously wounds Sunfyre before Vhagar even enters the battlefield.

    But Aemond isn't there to save his brother. In fact, this may even be an opportunity to take him out along with one of Rhaenyra's most powerful allies. While Meleys has Sunfyre pinned in the air, Aemond orders Vhagar to set fire to them all, and Sunfyre and Aegon plummet into the forest.

    After the battle's dismal conclusion, Ser Criston seeks Aegon out. Aemond has beat him to the crash site, and what they find isn't pretty: Aegon lies limp on the ground, surrounded by a smoking, groaning Sunfyre.

    But in episode three, Aegon dons a set of Valyrian steel armor that he says belonged to Aegon the Conqueror. It's this armor he appears to wear to the battle.

    We know from "Fire and Blood" that "common fire" cannot melt Valyrian steel. In the book, Vhagar lights Aegon the Conqueror's funeral pyre, which incinerates his body but leaves his Valyrian steel blade, Blackfyre, unharmed. But it wasn't enough to protect Aegon.

    Tom Glynn-Carney as Aegon, looking forlorn while wearing dark metal armor.
    Aegon wearing Aegon the Conqueror's armor.

    Aegon is alive, but completely out of commission

    In episode five, Criston parades Meleys' head through King's Landing, much to the horror of its denizens. Unbeknownst to them, Aegon's unconscious body follows behind, hidden inside a box.

    The maesters tend to Aegon in his chambers, but he does not awake. Much of his body is covered by gruesome burns, and in some cases, the Maesters must peel his armor from where it has fused to his skin. At that moment, it's unclear if he will survive.

    Grand Maester Orwyle informs the small council later in the episode that despite his Valyrian steel armor, Aegon's burns were severe and he has numerous broken bones. Past that, he still may have internal injuries.

    "I must admit I am not sure he will ever wake," Orwyle says. "I have plied my crafts to their fullest extent. Our King's fate lies with the gods now."

    With Aegon unable to rule, the council names Aemond as regent to rule in his stead. Later in the episode, Alicent sits at Aegon's bedside as he rests, his left leg elevated and his breaths coming in wheezes.

    Aegon and Sunfyre survive in the book — but they're pretty beat up

    In "Fire and Blood," Meleys, Vhagar, and Sunfyre all clash during the Battle of Rook's Rest. The dragon fight ends when Vhagar falls onto Meleys and Sunfyre from above, killing Meleys and Rhaenys. Sunfyre and Aegon, however, survive.

    They're not in great shape, though. One of Sunfyre's wings is half-ripped off his body, grounding him near the castle. According to the book, he remains there, consuming the corpses from the battle, and later livestock brought by Ser Criston.

    Like in the show, Aegon sustains severe injuries: a broken hip and broken ribs. His burns are also severe, and his armor melts into the skin of his left arm.

    George R. R. Martin writes in "Fire and Blood" that Aegon's burns "brought him such pain that some say he prayed for death." His injuries force him into a yearlong bed rest, during which the maesters attend to him and he sleeps through the pain. Obviously, that means he's unfit to rule, and Aemond assumes his duties as Prince Regent.

    Tom Glynn-Carney as Aegon, sitting in a high-backed chair and playing with a steel dagger.
    Glynn-Carney as Aegon.

    Aegon and Sunfyre do eventually die, though

    Later in the war, a small force loyal to Rhaenyra takes back Rook's Rest and attempts to kill Sunfyre. They don't succeed, but shortly after, Sunfyre is nowhere to be found.

    When Rhaenyra takes King's Landing, Aegon is gone, as are his remaining children, Jaehaera and Maelor. According to one historical record referenced in "Fire and Blood," Larys Strong smuggled them out of the city, setting Aegon aboard a fishing boat bound for Dragonstone.

    Aegon hides there until Sunfyre makes his way to the island after disappearing for half a year, his wing healed enough to barely allow him to fly. The two begin to fly together again, and eventually, a force loyal to Aegon takes over the island. Aegon and Sunfyre are forced to fight Baela, Daemon and Laena's daughter, and her dragon, Moondancer. The clash leaves Moondancer dead, Sunfyre unable to fly again, Aegon with two broken legs after jumping out of the saddle, and Baela taken prisoner.

    But it also leaves Aegon in possession of Dragonstone. When Rhaenyra arrives, he promptly feeds her to his dragon, Sunfyre. Shortly after, Sunfyre dies.

    Aegon returns to King's Landing after his mother, Alicent, strikes an accord with Lord Corlys Velaryon, lifting the Velaryon blockade that prevented his return. There, he sits not on the Iron Throne but on a seat at its steps as a result of his broken legs.

    The King then seeks revenge on those who acted against him during the war, forcing lords in the surrounding crownlands to submit to him. But while Aegon's council frets over how to quell the coming rebellion from across Westeros, Aegon is preoccupied with matters of succession: He wishes to marry Lady Cassandra Baratheon and produce new heirs.

    (In the book, Aegon's sister-wife, Helaena, dies by suicide after the death of their son Maelor.) Similarly, he wants to prevent the betrothal of his daughter Jaehaera to Rhaenyra's son Aegon the Younger so as to finish off Rhaenyra's bloodline.

    Eventually, with armies encroaching on King's Landing, Aegon is poisoned while being carried in his litter to the sept via a cup of laced wine.

    "House of the Dragon" season two airs Sundays at 9 p.m. ET on HBO and is streaming on Max.

    Read the original article on Business Insider
  • Chinese consumers aren’t buying enough stuff, and it’s taking a toll on the economy

    Residents select products at a supermarket in Shanghai, China.
    Residents select products at a supermarket in Shanghai, China.

    • China's economy grew 4.7% in Q2, missing the 5.1% growth forecast by analysts.
    • June data showed exports were strong, but domestic consumption was weak with retail sales growth of just 2%.
    • China's disposable income grew in the second quarter of this year, but consumers are reluctant to spend.

    China's belt-tightening consumers are dragging on the country's economy even as external demand supports exports, official data released on Monday shows.

    China's economy grew 4.7% in the second quarter of this year from a year ago, according to the National Bureau of Statistics — missing the 5.1% growth analysts polled by Reuters had expected. The growth was also slower than the 5.3% growth China posted in the first quarter of 2024.

    Growth was dragged by weak consumption, with retail sales expanding just 2% in June from a year ago. In comparison, June exports hit a record $99 billion, signaling strong demand elsewhere in the world.

    The fresh data shows China's economy continues to be bogged down by its real-estate crisis, stock-market volatility, geopolitical headwinds, and demographic challenges.

    People are just not spending enough

    Even though disposable income grew in the second quarter of this year, consumers in China are reluctant to spend.

    Weak consumer demand is bad for China's economy, as it can contribute to a vicious cycle of deflationary pressure on the back of slowing wage growth and spending.

    Still, Beijing framed China's first-half growth — which came in at 5.0% — as "generally stable with steady progress."

    However, it also acknowledged challenges in the consumption space.

    "We should be aware that the external environment is intertwined and complex, the domestic effective demand remains insufficient and the foundation for sound economic recovery and growth still needs to be strengthened," China's National Bureau of Statistics said on Monday.

    Economic outlook for the second half of the year

    China's economic outlook isn't that rosy for the second half of this year either.

    Nomura economists said in a report last week that China's first-quarter growth was helped by measures including property stimulus.

    However, they added that headwinds remain in the second half of the year, including the "tapering of post-COVID pent-up consumer demand."

    Slow domestic demand in China could pose an even bigger problem later this year and ahead amid geopolitical uncertainties.

    "Growth dependence on external demand with the current resilience in manufacturing may also breed concerns of any escalating trade tensions, at a time where polls have been leaning towards a likely Donald Trump's presidency for now," Yeap Jun Rong, a market analyst at trading platform IG, wrote on Monday, following China's data release.

    China is navigating a difficult economic transition from one focused on property and lower-end manufacturing to the hot new sectors of electric vehicles, batteries, and solar cells — but the sectors' growth may cool in the second half of this year after the investment frenzy slows, wrote the Nomura economists.

    Beijing has a growth target of around 5% for the world's second-largest economy — a number analysts have said is ambitious.

    Read the original article on Business Insider
  • Why Aussie Broadband, Bellevue Gold, Lifestyle Communities, and Star shares are falling

    A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another strong gain. At the time of writing, the benchmark index is up 0.9% to 8,029.7 points.

    Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

    Aussie Broadband Ltd (ASX: ABB)

    The Aussie Broadband share price is down 17% to $2.96. Investors have been selling this broadband provider’s shares following the release of its guidance for FY 2025. Aussie Broadband is guiding to EBITDA of $125 million to $135 million. This includes a $10 million investment in a new digital-first challenger brand, Buddy. The new offering leverages artificial intelligence (AI) to manage connections, upgrades, outages and usage through an app, website, and live chat. The AI-enhanced program is targeting 100,000 customers within three years.

    Bellevue Gold Ltd (ASX: BGL)

    The Bellevue Gold share price is down 4.5% to $1.94. This has been driven by the release of the gold miner’s quarterly update this morning. Bellevue revealed that its production ramp up remains on track with total production of 42,705 ounces and gold sold of 44,418 ounces during the quarter. This means that production for the six months to 30 June 2024 came to 80,043 ounces, which was around the midpoint of its guidance range of 75,000-85,000 ounces. It seems that the market was expecting stronger production for the period.

    Lifestyle Communities Ltd (ASX: LIC)

    The Lifestyle Communities share price is down almost 17% to $10.48. This follows media reports alleging that some retirees feel trapped with their land lease communities contracts. Lifestyle Communities responded to the reports, stating that it has “been engaging with the group of homeowners since February 2024. The homeowners have not been satisfied with our responses and have made applications to the Victorian Civil and Administrative Tribunal (VCAT).” It also adds that it “takes its compliance obligations extremely seriously and has obtained legal advice throughout its 21 years to ensure it operates in accordance with relevant legislation, and its policies are consistent with other industry operators.”

    Star Entertainment Group Ltd (ASX: SGR)

    The Star Entertainment share price is down over 1.5% to 50.2 cents. This has been driven by news that the casino operator has been forced to pause electronic gaming due to a software issue. It notes that following planned upgrades, certain systems have been disrupted due to system performance issues identified in post-upgrade testing. Electronic gaming machines will remain offline until the issue is resolved.

    The post Why Aussie Broadband, Bellevue Gold, Lifestyle Communities, and Star shares are falling appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Aussie Broadband Limited right now?

    Before you buy Aussie Broadband Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Aussie Broadband Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 10 July 2024

    More reading

    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 positions in and has recommended Aussie Broadband. The Motley Fool Australia has recommended Aussie Broadband. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Guess which ASX All Ords stock just leapt 22% on improved guidance

    A happy young boy in a wheelchair holds his arms outstretched as another boy pushed him.

    The All Ordinaries Index (ASX: XAO) is up 0.8% hitting new all-time highs, and it’s getting plenty of support from this soaring ASX All Ords stock.

    Shares in the investment software provider closed on Friday trading for $1.07. In earlier trade, they leapt to $1.30, up 21.5%. After some likely profit-taking, shares are currently changing hands for $1.14 apiece, up 6.5%.

    Any guesses?

    If you said Bravura Solutions Ltd (ASX: BVS), give yourself a virtual gold star.

    Here’s what’s piquing investor interest in the ASX All Ords stock today.

    Bravura share price leaps on guidance increase

    The Bravura share price is storming higher today after the company upgraded its FY 2024 guidance.

    The ASX All Ords stock unaudited earnings before interest, taxes, depreciation and amortisation (EBITDA) guidance for the full financial year to around $25 million. That’s up from the previous guidance of between $18 million and $25 million.

    This now sees cash EBITDA guidance of around $10 million.

    Management credited the improved guidance on the company’s transformation over the year, which stabilised its business and continued progress towards rightsizing its cost base. The company noted that the scale and pace of its FY 2024 transformation had outperformed its budget planning expectations.

    Commenting on the guidance increase boosting the ASX All Ords stock today, Bravura CEO Andrew Russell said:

    We are pleased to deliver EBITDA performance that is ahead of guidance. This is further confirmation of the execution progress of our strategy to reset and energise the Bravura business.

    We have returned to profitability, are growing our cash EBITDA margin and have a healthy balance sheet. We intend to provide further updates on our capital management strategy at our full-year results presentation in August.

    How has the ASX All Ords stock been tracking?

    With today’s intraday gains factored in, the Bravura share price is up an impressive 122% over the past 12 months.

    Investors have been bidding up the ASX All Ords stock amid some strongly improving financial metrics.

    At its half-year results, released on 20 February, Bravura reported a positive cash EBITDA of $300,000 for the six-month period.

    Gross revenue was up 7.4% year on year to $127 million, and losses narrowed massively. Net loss of $1.6 million over the half year was a marked improvement from the net loss of $190.9 million in the prior corresponding period.

    The ASX All Ords stock will announce its FY 2024 full-year results on 14 August.

    The post Guess which ASX All Ords stock just leapt 22% on improved guidance appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Bravura Solutions Limited right now?

    Before you buy Bravura Solutions Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bravura Solutions Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

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    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bravura Solutions. 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 Scott Phillips.

  • Why Atturra, Bravura, Core Lithium, and Opthea shares are racing higher today

    The S&P/ASX 200 Index (ASX: XJO) has started the week strongly on Monday. In afternoon trade, the benchmark index is up 0.9% to 8,030.9 points.

    Four ASX shares that are rising more than most today are listed below. Here’s why they are storming higher:

    Atturra Ltd (ASX: ATA)

    The Atturra share price is up 7% to 78.2 cents. Investors have been buying this technology services company’s shares after it announced an agreement to acquire Exent Holdings. Attura is paying $6 million in upfront consideration with earn-out/post-completion consideration of up to $2 million in cash. Management notes that it is a strategically aligned acquisition that helps Atturra extend its advisory and consulting capabilities outside of Canberra and Defence and expand the practice nationally. The transaction is expected to complete on or around 31 July.

    Bravura Solutions Ltd (ASX: BVS)

    The Bravura Solutions share price is up almost 5% to $1.12. This follows the release of a guidance update from the wealth management software solutions company. Bravura advised that it is upgrading its FY 2024 EBITDA guidance to approximately $25 million. This is up from its previous guidance range of $18 million to $22 million. Management advised that its upgraded guidance follows a successful transformation execution over the course of the year which has resulted in the stabilisation of the business and continued progress towards rightsizing the cost base.

    Core Lithium Ltd (ASX: CXO)

    The Core Lithium share price is up 9% to 12 cents. Investors have been buying this lithium miner’s shares this month following a couple of positive updates. One was the release of an update on its production in FY 2024. Core Lithium advised that it exceeded its FY 2024 production guidance with production of 95,020 dry metric tonnes (dmt) of spodumene concentrate. This led to Core Lithium reporting an unaudited cash balance of $87.6 million at 30 June. Also going down well with investors was the release of the company’s exploration update last week.

    Opthea Ltd (ASX: OPT)

    The Opthea share price is up 8% to 40 cents. This morning, the clinical-stage biopharmaceutical company revealed that it has successfully completed the fully underwritten retail component of its entitlement offer. The retail entitlement offer raised approximately A$55.9 million, which brought the total raised to a whopping A$227.3 million at 40 cents per new share. The net proceeds will fund the company through the anticipated Phase 3 topline data readouts for COAST (Combination OPT-302 with Aflibercept Study), and ShORe (Study of OPT-302 in combination with Ranibizumab). In addition, the funds are intended to be used to progress chemistry, manufacturing, and controls activities, Biologics License Application preparations for FDA approval, and for general corporate purposes.

    The post Why Atturra, Bravura, Core Lithium, and Opthea shares are racing higher today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Atturra Limited right now?

    Before you buy Atturra Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Atturra Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 10 July 2024

    More reading

    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 positions in and has recommended Bravura Solutions. The Motley Fool Australia has recommended Atturra. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why it’s lights out at ASX-listed Star Casino until further notice

    An electrician looks at a power board using a torch in the dark

    It’s been a euphoric start to the week’s trading for the S&P/aSX 200 Index (ASX: XJO) and most ASX shares this Monday. After touching a new record high late last week, the ASX 200 is at it again today, climbing over 8,000 points for the first time ever.

    But let’s talk about the Star Entertainment Group Ltd (ASX: SGR) share price.

    Star might be an ASX 200 share. But it is not enjoying the same kind of goodwill that most of its fellow stocks are this Monday. While the ASX 200 might be up by around 0.9% at the time of writing, Star shares have gone the other way.

    At present, this casino operator and gaming stock has crashed by a painful 2.9%, down to 45.5 cents a share.

    This will no doubt come as a bitter blow for Star’s embattled investors. Until today, the casino operator was on a bit of a run, rising more than 8.5% between 4 July and last Friday.

    So what has ruined Star’s share price recovery so decisively this week?

    Why is the Star share price crashing on the ASX today?

    Well, today’s market-bucking slump is likely a consequence of the ASX announcement from Star early this morning before market open.

    This filing revealed that Star has a number of planned upgrades to its gaming systems that have “been “disrupted due to system performance issues”. The casino operator planned the upgrades to prepare for the introduction of cashless gaming.

    The issues were reportedly discovered “in post-upgrade testing”, prompting all electronic gaming machines and electronic table games in The Star’s three properties to be switched off on 13 July 2024 from 10pm “until the issue is resolved”.

    Here’s more of what Star had to say about this disruption:

    The decision was taken by The Star to ensure compliance with relevant regulations, and to maintain the Company’s commitment to safer gambling procedures.

    The Star is working closely with its external provider Konami to address the operational issues as soon as possible and will provide an update once operations return to normal.

    Treasury Brisbane, The Star Gold Coast and The Star Sydney remain open with table games, restaurants, bars and entertainment available.

    So it’s clear why investors are passing over Star shares on the ASX today. Despite the euphoric mood of the broader market.

    Star weathers yet another setback

    This news was arguably the last thing Star investors wanted to wake up to today. The company has endured a series of scandals and setbacks over the past few years. These include investigations into its ability to hold gaming licenses in Sydney and high turnover at its top levels.

    These setbacks helped make Star one of the ASX 200’s worst-performing shares in FY2024. The company shed 54% of its value over the 12 months to 30 June.

    Star shares have also crashed more than 85% from where they were five years ago.

    Check all of that out for yourself below:

    Investors will no doubt hope that this latest company problem will be resolved quickly and that Star’s electronic gaming machines and tables will be back online soon. But we’ll have to wait and see what happens.

    The post Why it’s lights out at ASX-listed Star Casino until further notice appeared first on The Motley Fool Australia.

    Should you invest $1,000 in The Star Entertainment Group Limited right now?

    Before you buy The Star Entertainment Group Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and The Star Entertainment Group Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 10 July 2024

    More reading

    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 Scott Phillips.