The CSL Limited (ASX:CSL) share price may not have been a star performer in the post COVID‐19 bounce, but that could soon change.

Shares in the blood products developer dipped nearly 3% since March when the pandemic rattled markets.

It’s performance is roughly inline with the S&P/ASX 200 Index (Index:^AXJO), although UBS reckons it could soon outperform.

Shot in the arm for CSL share price

The catalyst is the upcoming flu season in the northern hemisphere. The broker believes this year’s season will be worse than normal.

“As at 9 October, 139mn flu vaccine doses had been distributed for the US flu season, up 9% vs. pcp [previous corresponding period],” said UBS.

“CSL noted at their FY20 result they had increased supply into the US of up to ~60mn doses for the 20/21 season (up from ~50mn in pcp, i.e. +20%).”

Broker “buy” rating reaffirmed on positive outlook

It also looks like Europe and the UK are facing a colder than normal winter – perfect conditions for the flu.

The unpleasant experience from COVID-19 should also aid demand for flu jabs. People are more likely to get a shot while governments are increasing their health budgets to pay for flu and coronavirus vaccinations.

UBS reiterated its “buy” recommendation on CSL with a 12-month price target of $346 a share.

Unlocking value key to buy recommendation

The Downer EDI Limited (ASX: DOW) share price is another that could outperform in the near-term. Macquarie Group Ltd (ASX: MQG) believes a potential sale of Downer’s mining division will fetch a better than expected price.

The broker’s optimism is based on Cimic Group Ltd’s (ASX: CIM) divestment of Thiess. The transaction ascribes the business with an enterprise value of $4.3 billion, or 8.1 times forecast pre-tax profit.

If the same multiple was applied to Downer’s unwanted asset, the mining business could fetch up to $713 million. This compares to the net asset value of $599 million for the business that is recorded in Downer’s FY20 accounts.

Macquarie is keeping its “outperform” recommendation on the stock with a 12-month price target of $5.29 a share.

Strong September quarter supports broker’s “buy” call

Meanwhile, Citigroup repeated its “buy” recommendation on the South32 Ltd (ASX: S32) share price after the miner released its quarterly report.

South32 posted record hydrate production at Worsley Alumina. It also remains on track to increase alumina production to nameplate capacity in FY21.

Overall, Citi described the quarterly as a strong report with management sticking to its production forecasts for the current financial year.

South32 also restarted its on-market share buyback as its net cash position increased by US$70 million to US$368 million in the quarter.

Citi’s 12-month price target on the stock is $2.60 a share.

More reading

• The ASX 200 slid 0.72% lower today
• Is the ASX 200 trading too high right now?
• 3 things to tell someone who has never invested in ASX shares
• ASX 200 down 0.2%: Afterpay rockets on Westpac deal, Zip climbs, BHP’s Q1 update
• CSL (ASX:CSL) share price edges lower on annual R&D update

Brendon Lau owns shares of CSL Ltd., Macquarie Group Limited, and South32 Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post CSL (ASX:CSL) share price and 2 other ASX stocks among latest broker “buy” ideas appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3m4B7lm

The Weebit Nano Ltd (ASX: WBT) share price has rocketed up by 24.5% today as interest continues to grow in this ASX technology share. Weebit is a developer of next generation memory technology for the global semiconductor industry. According to the company, it is pioneering a new technology in this field.

Weebit Nano argues that flash memory is not keeping up in the embedded market. This is where memory is combined with other elements on the same chip. Moreover, the company proposes this new technology as a better replacement.

What moved the Weebit share price?

The Weebit share price was on fire today with the company recently announcing positive progress in the development of its new resistive random-access-memory (ReRAM) product. This is a technology Weebit states is the equivalent of 1000 times faster than and requires around 1000 times lower power than flash memory. 

According to Weebit, some estimates of the flash memory market place it at over US$60 billion. It also maintains that the world’s storage requirements are doubling every two years. This is due to the increasing use of pictures and videos at a growing rate as well as the uptake of new, big-data and artificial intelligence applications.

Weebit recently announced it completed the stabilisation process for its ReRAM product, sending the Weebit share price up 17% on that day alone. This is a phase to verify that the production process is repeatable and consistent. In addition, the optimised integration showed excellent wafer-to-wafer reproducibility for various programming conditions, which means that different memory cells in different areas of a wafer and across different wafers in the batch present the same behaviour.

Management commentary

Coby Hanoch, CEO of Weebit Nano, said:

The successful completion of the stabilisation process follows four years of extensive research and development by the joint Weebit and Leti engineering teams, which has created a unique and highly competitive ReRAM technology. Our close collaboration with Leti will continue, as we constantly strive to improve and further optimise the technical parameters of our silicon oxide ReRAM.

In parallel to completing the stabilisation process which has reinforced the capabilities of our technology, we are moving closer to commercialisation, engaging in discussions with a production partner and working towards transferring our IP and achieving technology qualification in the partner’s fab.

Weebit company performance

Investor interest in the company’s technology and progress has been building over the 2020 calendar year. In year-to-date trading, the Weebit share price has rocketed up by nearly 198%. Indeed, it has blasted upwards by nearly 50% in the past 5 days alone. 

More reading

• Weebit Nano (ASX:WBT) share price rockets 17% up today. Here’s why.

Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the Weebit (ASX:WBT) share price soared 24% Tuesday appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3m2jAdf

The BOD Australia Ltd (ASX: BDA) share price was shooting higher as the company launched its CBD (cannabidiol) product in the Netherlands. By the market’s close, the BOD share price was trading 7.69% higher at 56 cents.

The Australian micro-cap has been on an impressive run as of late, gaining 75% so far this year.

What BOD does

BOD is a vertically integrated (loosely meaning it does everything itself) distributor of plant-based natural health supplements and beauty solutions. BOD partnered with Australian vitamin giant Swisse in July last year.

The company has a cannabis business and is developing a range of over the counter and therapeutic products based on certified cannabis extracts.

Product launch

The BOD share price was flying today as the company announced it has launched its four new CBD products in the Netherlands. The products were released under recognised Australian vitamin and skincare brand Swisse Wellness.

The CBD products are in soft, gel-cap form and are designed to target specific need states including immune function and joint mobility.

The entry into the Netherlands marks the third major market entry for BOD consumer CBD products. The cannabis producer currently has sales channels established in Australia, the United Kingdom and the Netherlands. Furthermore, BOD is planning more expansion into the European market which is estimated to be worth upwards of 450 million euros.

CEO of the company, Jo Patterson, was pleased as she said:

Together with H&H, we have now collaboratively launched Swisse-products into three major markets in a very short space of time and the Company is confident that our highquality CBD products will be well received by consumers to address a range of mainstream need states.

What now for the BOD share price?

The BOD share price rose almost 8% today on the back of the impressive announcement. However, according to the release, there could be more news in store for holders of the cannabis company’s shares.

This is because BOD also disclosed it is now focused on progressing its United States market entry, with the first binding purchase orders for products expected later this quarter.

More reading

• Why the Weebit (ASX:WBT) share price soared 24% Tuesday
• Centuria Capital (ASX:CNI) delivering on FY21 strategy
• Zip (ASX:Z1P) announces major payments expansion with Tap & Zip
• Apiam (ASX:AHX) share price soars 12% on strong Q1 update
• McPherson’s (ASX:MCP) share price on watch on Wednesday after Q1 update

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post BOD (ASX:BDA) share price soars 8% on product launch appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2Hm0jV6

Centuria Capital Group (ASX: CNI) reported solid FY20 results in August, despite exposure to bushfires, floods and the impacts of COVID-19. Today it released its annual report demonstrating it was starting to deliver on its FY21 strategy. Centuria is a real estate funds management company that provides listed and unlisted investment options. During FY20, the company increased its assets under management (AUM) by an impressive 52% over FY19. It also managed to increase operating net profits after tax by 16.6%.

Highlights of FY20 results

One of the most significant points highlighted in Centuria’s FY20 results was the growth in the company’s AUM. This was partially due to the company’s acquisition of Augusta Capital Limited of New Zealand. Other asset acquisitions were in industrial and office properties. These included two Arnott’s distribution centre assets, and a Telstra Corporation Ltd (ASX: TLS) data centre on a buy and leaseback arrangement.  

Australia’s largest pure play listed office real estate investment trust (REIT) is the Centuria Office REIT (ASX: COF). During FY20, this fund expanded its portfolio with $637 million of acquisitions. In addition, government and ASX listed tenants provided approximately 80% of the portfolio’s income, supporting the FY20 results.

Likewise, the Centuria Industrial REIT (ASX: CIP) is Australia’s largest domestic, pure play listed industrial REIT. This fund expanded its portfolio with over $300 million of acquisitions in FY20. Approximately 52% of the portfolio’s income is from tenants directly linked to the production, packaging and distribution of consumer staples.

What’s next?

Centuria has set about commencing the new financial year strongly. Notable FY21 activity to date includes $0.7 billion in real estate acquisitions, launch of the Centuria Healthcare Property Fund, and the launch of the Augusta Property Fund with $55 million in seed assets. In addition, the company has provided FY21 operating earnings per share (EPS) guidance of 10.50 to 11.50 cents per share (cps) and distribution guidance of 8.50 cps. Centuria retains a strong operating balance sheet with cash on hand of $149.5 million as at 30 June 2020, some of which has since been used for the takeover bid for Augusta Capital Limited.

Joint CEO’s John McBain and Jason Huljich commented:

Additionally, we have implemented technology to future proof our business. We recently launched our “VISION 2020” property management and finance software platform providing an integrated solution that will provide efficiency and scalability for the future.

Centuria share price performance

The Centuria share price is up 4.95% in year-to-date trading, and is currently trading at a price-to-earnings (P/E) ratio of 19.17 on today’s earnings report. It has a current trailing 12-months dividend yield of 4.21%.  

More reading

• Looking to invest in ASX real estate shares? Read this first
• With even Kogan (ASX:KGN) eyeing a return to the office, where next to invest?
• Could industrial REITs be the best ASX shares to buy for dividends?
• Centuria Capital’s fund managers’ insights on A-REITs and unlisted property funds
• 1 ASX share to ride the viral logistics boom

Motley Fool contributor Daryl Mather owns shares of Centuria Office REIT. The Motley Fool Australia owns shares of and has recommended Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Centuria Capital (ASX:CNI) delivering on FY21 strategy appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/35g5uhD

The Zip Co Ltd (ASX: Z1P) share price was up 3.5% in early morning trading before turning around in the afternoon to close 0.7% lower.  

This came after the company’s progress report, released today, revealed a major expansion to its buy now, pay later (BNPL) services – Tap & Zip.

Despite today’s retracement, the Zip share price is up 101% since 2 January.

By comparison the S&P/ASX 200 Index (ASX: XJO) is down 6% year to date.

Why will Tap & Zip open up a much larger market?

Founded with the intent to disrupt the traditional credit card industry, Zip’s latest offering, Tap & Zip, now looks set to also disrupt the ‘traditional’ BNPL industry.

Tap & Zip is powered by the company’s partnerships with Visa Inc (NYSE: V) and Marqeta, the world’s first open API modern card issuing platform.

Commencing today, you’ll be able to pay for your online or in-store purchases with Zip anywhere in Australia that accepts Visa payments online and Visa contactless payments in store.

To give you an idea of the potential growth here, according to RFI Research, until today only 13% of Australian stores have been able to accept BNPL options. The vast majority offer contactless Visa payment terminals.

Contactless payments arrived in Australia in 2006. Since then, consumers have increasingly embraced the touch-free option over cash or entering their PIN. A trend that’s accelerated since the outbreak of the global pandemic.

Staying with the growth outlook, Zip reports that (until today) only 24% of its transactions have been occurring in brick and mortar stores. That compares to 87% of broader Australian retail transactions made in store.

Beyond being able to use Zip anywhere that accepts Visa, from today Zip customers can also use Apple Inc‘s (NASDAQ: AAPL) Apple Pay and Alphabet Inc‘s (NASDAQ: GOOGL) Google Pay.

Zip’s Co-founder and CEO, Larry Diamond said that Tap & Zip, “completely changes the game, enabling Zip to compete with the credit card at every checkout in Australia.”

He added, “Tap & Zip marks the future of BNPL: flexible and transparent payment options that are accepted everywhere.”

Our chat with Zip’s Chief Commercial Officer, Hamish Moline

Earlier today, the Motley Fool had a chance to catch up with Zip’s Chief Commercial Officer, Hamish Moline for his insights on the wider impact of the new Tap & Zip.

Moline said:

Buy now pay later continues to grow strongly, which is great news for all of us. Our focus is really on the untapped in-store opportunity. Only 24% of our transactions are in-store today, so there’s a huge opportunity for us to move in and make sure that Zip becomes the first payment choice. Obviously, we want that every day and everywhere, and Tap & Zip is designed to really drive that.

With Tap & Zip backed by Visa, we wondered what type of impact this might have on traditional credit card companies.

Moline commented:

We are an alternate to traditional credit cards. And we have 2.2 million customers now. 49% of them are Millennials and 59% say they don’t have a credit card. We’re seeing a whole new category of customer who want more flexible interest rate options. For us it’s about tapping that market and giving them what they need.

Credit card companies are certainly now looking at the buy now pay later space. And you’ve seen some of them do things similar to Zip. We’re proud of the fact that we’re a pioneer here, that we’ve created a model of more flexible interest free products. So we want to continue to grow our base from where it is today.

Hamish Moline also hopes the new Tap & Zip rollout will help give some of Australia’s stressed retailers a hand.

There are lots of businesses who don’t currently accept buy now pay later who have struggled through COVID. And as people get back to the shops, particularly towards the next trading period going into Christmas, we hope our consumers will shop at new merchants that haven’t seen the benefit of buy now pay later yet.

When Zip’s brand is available it increases sales 20% from our customers, and it increases the conversion rate and basket size for our merchants.

Moline was obviously reluctant to speculate on the impact Tap & Zip may have on the company’s future revenue stream. He did say:

Tap & Zip is just one of the new ways our consumers can now shop and it really opens up a whole bunch of new merchant categories for us, particularly around every day spending like groceries and fuel and other areas. Our customers have been asking us for a long time to increase the number of merchants that we transact at.

We offer a number of products. Zip Pay is one Zip Money is another; we have online and in-store. And we continue to have QR and barcode on top of Tap & Zip. For us this is about really driving consumer engagement and activation, while continuing to help our merchants by increasing their conversion rates and basket sizes.

Zip already has a strong presence in the United States, with more than 2.1 million customers. Asked about the company’s future market expansion plans, Moline told us:

We’re doubling down on the US, where we already have tap and pay. And we’ll be launching more aggressively in the UK. We’re also looking at a number of other markets that might be good for buy now pay later.

Finally, we wanted to know if Zip is concerned about the potential of rising customer defaults as government support measures, such as JobSeeker and JobKeeper, get wound down into 2021.

Moline commented:

One of the things we pride ourselves on is our responsible lending. We do credit checks and ID checks for all of our customers, regardless of product. We saw a spike in some of the hardship during the start of COVID, to 1,200 or so individuals. That’s declined since then to about 600. We’ll keep an eye on that. But given the way in which we scale up our loan book to our customers we’re quite comfortable with where we are today.

With the Zip share price more than doubling so far in 2020, and up an eye-popping 478% since the 23 March lows, this is one BNPL share we’ll be keeping a sharp eye on.

More reading

• The ASX 200 slid 0.72% lower today
• Leading brokers name 3 ASX shares to sell today
• Douugh and Afterpay were among the most traded shares on the ASX last week
• ASX 200 down 0.2%: Afterpay rockets on Westpac deal, Zip climbs, BHP’s Q1 update
• 3 ASX 200 shares hit with broker downgrades

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. 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 and recommends Alphabet (A shares), Apple, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has recommended Alphabet (A shares) and Apple. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Zip (ASX:Z1P) announces major payments expansion with Tap & Zip appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2T6Vthc

The Apiam Animal Health Ltd (ASX: AHX) share price is soaring today following the release of a positive Q1 update.

The animal health company’s shares broke its share price record today, up 12% at a high of 70 cents at close of trade. The robust quarterly performance represents a 52-week high share price for Apiam.

Continued momentum

Apiam reported that momentum has continued on from the strong results achieved in the second-half of FY20.

For the period ending 30 September, the company recorded revenue of $29.6 million, an increase of 14% on Q1 FY20. Gross profit also grew to $16.6 million, up 21.2%.

This was supported by a robust performance in its companion animal and dairy segment, as well as its pig segment. The surge in demand offset a fall in revenue from its feedlot services. Apiam said fewer cattle were on feed compared to the comparative period due to higher feeder cattle prices.

Underlying conditions in the company’s regional areas also improved due to the recent rainfall. This led Apiam to focus on its growth strategy which saw new implementations of business initiatives. Launching the ProDairy consultancy program, and Best Mates program delivered organic growth through new customer acquisitions.

Management advised Apiam is generating operating cost efficiencies and leverage, and expects a strong second-half to FY21.

COVID-19 impact

As COVID-19 related lockdowns have restricted movement, Apiam said it has had a bumper six months in its animal business. The contributing reasons were stated as people have further time on their hands and in-turn were seeking companionship.

The favourable conditions allowed the company to launch its Best Mates annual subscription, which grew 64% in its membership base. The program covers unlimited health checks cover for animals among other services.

Apiam managing director, Chris Richards commented on pet ownership. He said:

We’re seeing a trend towards pets being more a part of the family and treated as such. This has been a trend we have been observing in regional areas for some time, where traditionally it was more of a trend we saw in the cities. It is now more widespread with regional communities willing to invest more in the health and wellbeing of their companion animals.

In addition to the program, Best Mates has recently launched a TV advertising campaign to promote its services. The advertisement is being shown across regional towns in Victoria and southern New South Wales.

More reading

• McPherson’s (ASX:MCP) share price on watch on Wednesday after Q1 update
• The ASX 200 slid 0.72% lower today
• Up 20% today, what’s driving the 8VI (ASX:8VI) share price?
• Where to invest your first $500 into ASX shares today
• Why the Sunland (ASX:SDG) share price rocketed 50% higher today

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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Apiam (ASX:AHX) share price soars 12% on strong Q1 update appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/37n7S99

The McPherson’s Ltd (ASX: MCP) share price will be one to watch on Wednesday after the release of its first quarter update after the market close.

How did McPherson’s perform in the first quarter?

The health, wellness and beauty products company has started the year in a positive fashion.

According to the release, for the three months ended 30 September, McPherson’s sales revenue was up 4% on the prior corresponding period to $49.7 million.

This was underpinned by 8% growth in sales revenue from owned brands to $41.7 million. Management notes that its category market share grew in 4 out of 6 core brands and its China sales were strong thanks to its ABM partnership model.

Things were even better for its earnings, with McPherson’s reporting an 84% lift in underlying profit before tax to $2.9 million. However, it is worth noting that this does not include a hefty $5.7 million non-recurring full provision for the write down of its hand sanitiser inventory.

Management advised that delays in the supply of hand sanitiser products led to a customer cancelling the majority of its orders. This left it with a significant quantity of product.

Since then, demand has dissipated and the supply base for such products has become much more competitive. As a result, the company is currently holding excess quantities of hand sanitiser inventory.

This could be bad news for Zoono Group Ltd (ASX: ZNO), which was profiting greatly from increased demand at the height of the pandemic. But judging by this update, it appears that the market is now saturated.

McPherson’s Chief Executive Officer and Managing Director, Laurence McAllister, was disappointed with the provision but pleased with the overall quarter. Especially given how this is traditionally the company’s weakest.

He commented: “While we are very disappointed with the nonrecurring provision to fully write down legacy hand sanitiser inventory, our core business has made a strong start to FY21.”

“The strong growth in sales from our owned brands in the midst of the disrupted COVID-19 trading environment confirms the market strength and resilience of our brand portfolio. This top line growth in combination with improved contribution margins across the majority of our brands has generated a very strong lift in first quarter FY21 profitability from our core business, noting that the first quarter of our financial year is our seasonally lowest in terms of profitability,” he added.

Outlook.

McPherson’s is one of just a handful of companies which has stuck its neck out and provided guidance for the full year.

It has forecast first half underlying FY 2021 profit before tax growth in the range of 20% to 30% and full year underlying FY 2021 profit before tax growth in the range of 5% to 10%.

Management notes that its guidance takes into account the cycling of strong COVID-19 demand from the second half of FY 2020.

In addition to this, the company’s dividend policy remains in place. It intends to pay out a minimum dividend of 60% of underlying profit after tax, subject to cash requirements.

More reading

• The ASX 200 slid 0.72% lower today
• Up 20% today, what’s driving the 8VI (ASX:8VI) share price?
• Where to invest your first $500 into ASX shares today
• Why the Sunland (ASX:SDG) share price rocketed 50% higher today
• Oil Search (ASX:OSH) share price flat on Q3 FY20 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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post McPherson’s (ASX:MCP) share price on watch on Wednesday after Q1 update appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/34b9Fw4

The S&P/ASX 200 Index (ASX: XJO) finished lower today by 0.7% to 6,185 points after sliding downwards during the afternoon.

Here are some of the main highlights from the ASX:

Afterpay Ltd (ASX: APT)

The leading buy now, pay later (BNPL) business announced today that it is linking up with Westpac Banking Corp (ASX: WBC) to offer savings accounts.

The two financial businesses have signed a collaboration agreement to introduce Afterpay savings accounts and cashflow tools. It is being facilitated by Westpac’s new digital banking as a service platform which will offer additional, customer-centric alternatives to traditional banking products.

Afterpay customers will be able to use their new savings account to conduct the majority of their money management activities, including paying bills, withdrawing cash and budgeting. Further services and tools will be introduced over time for customers.

The BNPL company said that linking the new services to a user’s existing Afterpay account will deliver further insight into how customers prefer to manage their finances, what their savings goals are, and how responsible spending behaviour can be further encouraged and rewarded. These insights are aimed to deliver a more tailored user experience and more mutually beneficial consumer and retailer connections.

Afterpay CEO and managing director Anthony Eisen said: “The introduction of savings accounts and budgeting tools offers new customer benefits that continue to build on our core principle of encouraging responsible spending and enabling financial wellness.

“In deepening our relationship with our customers we will gather greater insights into how they prefer to manage their finances and better understand their savings goals. This will allow us to assist them to budget more effectively and avoid debt traps.”

The Afterpay share price shot higher by 4.5%, though it was up to $105.20 earlier in the day. It was one of the top performers in the ASX 200. 

Zip Co Ltd (ASX: Z1P)

Zip announced today the launch of ‘Tap & Zip’. This is a new product that will allow customers to use Zip Pay users to shop anywhere that accepts Visa.

The move will see Zip expand into more every expenditure categories and management are excited about the significant instore payments opportunity. Zip said that just 13% of stores in Australia are able to accept buy now, pay later options. Management believe that this new product addresses this significant customer need.

For customers, Zip said it will mean that they can use Zip Pay to shop everywhere and pay later, always interest-free. For merchants it will mean greater access to new customers, bigger basket values and increased sales volumes.

Zip’s co-founder and CEO, Larry Diamond, said: “BNPL has seen phenomenal growth over the last few years, as customers switched traditional forms of credit for flexible, digital alternatives. However, until now that growth as been restricted by a clunky instore checkout experience and limited acceptance.

“We continuously hear from Zip customers that they want to use their digital wallet to pay for everyday purchases like groceries and petrol, or to buy products and services from merchants that don’t accept BNPL.”

Zip has been granted a principal issuer licence from Visa. Zip will earn interchange revenue on transaction volume processed on its cards.

The BNPL business also announced today that Zip customers can use Apple Pay and Google Pay.

The Zip share price went as high as $7.42 in reaction to this news, though it finished down by 0.2% to $7.07.

Cochlear Limited (ASX: COH)

The ASX 200 hearing device business released its first quarter trading update today.

It said that cochlear implant revenue (in constant currency) was 94% of the first quarter of last year. Unit volumes declined by 14% with developed markets growing by low single digits while emerging markets were down around 40%.

Cochlear also said that services revenue continues continue with first quarter revenue (in constant currency) at around 86% of the level of the first quarter of last year.

Acoustics revenue in constant currency for the first FY21 quarter was around 89% of the first quarter last year. There was a “strong” uptake of the Osia 2 system in the US and there has been a resumption of acoustics surgeries in the UK.

The Cochlear share price rose by 2.3% in reaction to this update.

More reading

• Leading brokers name 3 ASX shares to sell today
• Is the ASX 200 trading too high right now?
• Douugh and Afterpay were among the most traded shares on the ASX last week
• 3 things to tell someone who has never invested in ASX shares
• ASX 200 down 0.2%: Afterpay rockets on Westpac deal, Zip climbs, BHP’s Q1 update

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post The ASX 200 slid 0.72% lower today appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/35fAMoX

The 8VI Holdings Ltd (ASX: 8VI) share price has been on an amazing rise so far this month as it wrapped up legal proceedings.

The 8VI share price has traded higher every day in October so far, gaining more than 200% in the process. In today’s trade, the company is trading 20.59% higher at $2.05.

What does 8VI do?

8VI is a Singapore-based financial educator that provides a smart stock analysis and screening tool infused with a social networking element.

The company was established in 2008, and aims to empower the ‘average Joe’ to make good investments “smarter, faster and easier”.

Its VI App is a stock analysis tool developed through 8BIT Global. The app crunches traditional financial data and simplifies complex stock analysis and decision-making for equity investors.

What driving the 8VI share price?

With the share receiving a speeding ticket this morning, the 8VI share price has been on an astonishing run since the turn of the month.

Shares in the financial educator are likely to have risen as a result of favourable legal proceedings with two former employees.

On 16 October, the company provided an update regarding the company’s ongoing appeal to the District Court of Taiwan. The appeal related to the company’s former director, supervisor and stakeholders, Joshua Lin and Jessica Kao, for breach of directors’ duties.

In late September, the District Court of Taiwan ruled in favour of 8VI and granted $575,000 in compensation and 69% of legal costs payable by Lin and Kao over the breach of directors’ fiduciary duties.

While the judgement ruled in favour of 8VI, the company is now appealing to correct the previous judgement to ensure accurate records in respect of future proceedings.

Foolish takeaway

8VI has seen its share price explode on the back of these proceedings. It marks a positive turnaround for a company that this time last year was trading at an all time low of 15 cents.

The share buy back in late August also helped provide impetus for the recent gain.

More reading

• Where to invest your first $500 into ASX shares today
• Why the Sunland (ASX:SDG) share price rocketed 50% higher today
• Oil Search (ASX:OSH) share price flat on Q3 FY20 update
• Leading brokers name 3 ASX shares to sell today
• Is the ASX 200 trading too high right now?

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Up 20% today, what’s driving the 8VI (ASX:8VI) share price? appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/34dnqud

If you’re looking to make your first investment in the share market, then you may be wondering where to put your funds.

The good news is that I believe there are a large number of quality ASX shares which have the potential to generate strong returns for investors.

Now, if you have just $500 to invest, then I would suggest you think long-term. This is because the brokerage fees you pay will eat into your returns if you are always buying and selling shares.

With that in mind, I have picked out three ASX shares I would buy. Here’s why I think they would be great long-term options for a $500 investment:

Kogan.com Ltd (ASX: KGN)

The first ASX share to consider investing $500 into is Kogan. I think the rapidly growing ecommerce company could be a great long term option due to the accelerating shift to online shopping. This has underpinned explosive active customer, sales, and profit growth this year. Pleasingly, this strong form has even continued when retail stores reopened. This appears to be an indication that the pandemic has brought about a lasting change in consumer habits. In light of this, I believe Kogan is well-placed to grow its earnings at a very strong rate over the 2020s. This could be bolstered by value accretive acquisitions following its capital raising earlier this year.

Nearmap Ltd (ASX: NEA)

Another option to consider buying with the $500 is this aerial imagery technology and location data company. Nearmap has been growing very strongly over the last few years thanks to increasing demand for its services in the ANZ and North American markets. And while FY 2020 was a tough year because of a large customer churn event, I remain confident that its growth will accelerate over the coming years. Especially given its leading position in a highly fragmented market currently worth $2.9 billion per year. Furthermore, the company has the option to expand geographically in the future to increase its addressable market. I suspect it is only a matter of time before it is operating in the UK and Europe.

Pushpay Holdings Ltd (ASX: PPH)

A final ASX share to invest $500 into is Pushpay. It is a donor management and community engagement provider to the church market. Pushpay’s platform has been growing in popularity with churches over the last few years as they embrace the shift to the cashless society and the digitisation of the church. So much so, Pushpay reported a 42% increase in customer numbers to 10,896 in FY 2020. This strong customer growth led to the company delivering even stronger sales and earnings growth for the year. And pleasingly, more of the same is expected in FY 2021 and in the years that follow. I believe this makes Pushpay shares one of the best options for a buy and hold investment.

More reading

• 5 ASX shares hitting record all-time highs this week
• This is where I’d invest $1,000 right now into ASX tech shares
• New $259 million ASX tech player listing Thursday
• 10 must-buy ASX shares to snap up before it’s too late
• How to make $50,000 of passive income with ASX dividends

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 Kogan.com ltd, Nearmap Ltd., and PUSHPAY FPO NZX. The Motley Fool Australia has recommended Kogan.com ltd, Nearmap Ltd., and PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Where to invest your first $500 into ASX shares today appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/35uopWr