In afternoon trade the S&P/ASX 200 Index (ASX: XJO) has continued its remarkable run and is storming 1.45% higher to 6,432 points.

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

Bingo Industries Ltd (ASX: BIN)

The BINGO share price is down 1% to $2.65 following the release of its annual general meeting update. The waste management company’s update was reasonably downbeat, with management continuing to expect COVID-19 headwinds to impact its business in 2021. In light of this, it expects its group EBITDA margin to decline by approximately 2% to 3% in FY 2021.

Evolution Mining Ltd (ASX: EVN)

The Evolution share price has fallen 3% to $5.61. Investors have been selling the gold miners again on Wednesday despite a small rebound in the price of the precious metal. It appears as though safe haven assets are losing their allure due to the prospect of a working COVID-19 vaccine being released soon. The S&P/ASX All Ordinaries Gold index is down 1.7% today.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price has tumbled 5% lower to $44.18. The catalyst for this has been a broker note out of Macquarie this morning. According to the note, the broker has downgraded the retailer’s shares to a neutral rating and cut the price target on them to $49.50. It believes consumer behaviour will return to normal in 2021 due to the aforementioned vaccine.

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price has dropped 3% to $10.02. This also appears to have been driven by a broker downgrade. Analysts at Morgans have downgraded this retailer’s shares to a hold rating and reduced the price target on them to $11.78. While it is expecting a strong holiday period, it believes a redirection of spending (post-vaccine) will slow its growth in 2021.

More reading

• ASX 200 up 1.3%: CBA Q1 update, tech shares rebound, JB Hi-Fi sinks
• The Bingo (ASX:BIN) share price dips on AGM
• Why the JB Hi-Fi (ASX:JBH) share price is down 7% today
• Gold shares tumble on vaccine news
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail 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.

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The recent reduction in interest rates from the Reserve Bank of Australia (RBA) has once again highlighted the appeal of ASX dividend shares for those investors seeking regular investment income. At the new cash rate of 0.1%, there really are few alternatives.

Whilst some investors might seek the safety of cash and term deposits (complete with government guarantee), the reality is that an interest rate of 1% (if you’re lucky) isn’t going to help you build wealth or provide a decent income.

Here’s a closer look at 2 ASX dividend shares that have been recommended by Motley Fool analysts.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is one of the most diversified companies on the ASX. It owns a massive portfolio of businesses, ranging from Bunnings and Officeworks to Kmart and Target. It also owns mines, chemical manufacturing plants, Kleenheat Gas, and a clothing line, amongst other things. Wesfarmers also still retains a ~5% stake in Coles Group Ltd (ASX: COL).

Wesfarmers has a long history on the ASX – a history that includes a long streak of dividend payments. This company has paid 2 dividends every year since at least 1985 (when Wesfarmers’ online records go back to). Its two most recent payouts came in at 75 and 95 cents per share, respectively (the latter including an 18 cents per share special dividend). That gives Wesfarmers a trailing dividend yield of 3.6% on current prices, or 5.14% grossed-up with full franking credits.

Wesfarmers is currently a recommendation of the Motley Fool’s Everlasting Income service.

Washington H. Soul Pattinson & Co Ltd (ASX: SOL)

Soul Patts is another ASX company that’s very old and highly diversified. But instead of owning a portfolio of underlying businesses, this company instead owns a portfolio of ASX shares within it. Some of the businesses Soul Patts has large stakes in right now include Brickworks Ltd (ASX: BKW), TPG Telecom Ltd (ASX: TPG) and New Hope Corporation Limited (ASX: NHC). It also owns a portfolio of unlisted assets, such as property.

Soul Patts also has the rare distinction of having a record of 20 straight years of annual dividend increases – a record unmatched on the ASX today. Its last two dividend payments came in at 25 cents and 35 cents a share, respectively. That gives this company a trailing dividend yield of 2.2% on current prices, or 3.14% grossed-up with full franking.

Soul Patts is a current recommendation of the Motley Fool’s Dividend Investor service, as well as Everlasting Income alongside Wesfarmers.

More reading

• 3 compelling ASX shares rated as buys by brokers
• Why Coles, Incitec Pivot, Kogan, & Northern Star shares are crashing lower
• Why big brokers are bullish about the Woolworths (ASX: WOW) share price 
• ASX 200 Weekly Wrap: US election special
• Why Soul Patts (ASX:SOL) is a strong ASX dividend share

Motley Fool contributor Sebastian Bowen owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers 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.

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The Electro Optic Systems Hldg Ltd (ASX: EOS) share price is rising higher today after the company provided an update on its EM Solutions business.

During late-morning trade, shares in the global defence contractor are up 1.99% to $5.90.

Let’s take a look at how EM Solutions performed over the year.

EM Solutions update

Following the integration of EM Solutions into the Electro Optic Systems group, management advised of strong growth from the newly acquired business.

The Brisbane-based division recorded a successful first year under ownership, with new contract wins and significant technology development. EM Solutions achieved growth of more than 20% year-on-year in both revenue and earnings before interest and tax (EBIT).

As expected, critical supply chain components were affected by delays due to COVID-19. However, management is confident that all schedule shipments will be met before the end of the year.

For the current calendar year, EM Solutions has delivered its tri-band Cobra satellite communications terminals to the Royal Australian Navy. The upgrades were implemented on the Anzac frigates and new offshore patrol vessel programs. In November, the first series of Cobra terminals were shipped as part of a $14 million contract with three NATO navies.

In addition, EM Solutions received a $3 million order from a United States contractor supplying manpack satellite terminals. The equipment will be employed into a US defence program, and include Ka-band transceivers onto multi-layered platforms.

As a result of the new deals, EM Solutions advised it has a record confirmed order backlog of 14 month’s production. Furthermore, the company is in discussions with an overseas defence force that could see future production stretch to more than 2 years.

The company is investing strongly in research and development, using its knowledge on electromagnetics and microwaves. EM Solutions is seeking to enhance a new breed of hybrid RF-optical systems that will support forthcoming satellite systems.

What did management say?

Commenting on the efforts made to accomplish its goals, EOS Communications Systems CEO Glen Tindall said:

The team at EM Solutions have worked exceptionally hard to deliver a fantastic result, demonstrating their dedication to their clients, adding to EOS’ proprietary technology base, and maximising the synergies between EM Solutions and the broader EOS group.

As government customers continue to evolve towards multi-orbit, multi-band satellite communications, EM Solutions is uniquely positioned to deliver products that provide maximum flexibility and resilience.

We will be developing next generation satcom-on-the-move terminals that can support the optical technology that will be deployed by the EOS SpaceLink MEO Satellite Relay System.

How has the EOS share price performed?

The EOS share price suffered a setback when COVID-19 hit global logistics, restricting exports to overseas markets. Since the fall-out in March, the defence contractors’ shares have somewhat recovered but are meeting resistance around the $6 mark.

For EOS to reach back to its share price from pre-pandemic levels, supply chains constraints will have to be lifted. This will allow a steady flow of products to be delivered to international customers, thus receiving a steady flow of revenue.

More reading

• Why the Electro Optic Systems (ASX:EOS) share price is pushing higher

Aaron Teboneras owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings 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.

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The Ausnet Services Ltd (ASX: AST) share price is up by 2.79% at the time of writing to $2.02 per share. This comes after the energy distribution company released its results for the 6 months to 30 September 2020.

What did Ausnet announce?

In the 6 months to 30 September 2020, Ausnet had revenue of $1.04 billion, an increase of 1.8% compared to the prior corresponding period (pcp). Higher revenues were driven by increased residential electricity distribution volumes as a result of COVID-19. The company also had higher lease interest income from completed wind farms.

Other features of Ausnet’s results for the 6 months to 30 September 2020 included:

• earnings before interest, tax, depreciation and amortisation (EBITDA) of $661.6 million, an increase of 5.7% on pcp
• earnings before interest and tax (EBIT) of $429.7 million, an increase of 8.1% on pcp
• net profit after tax of $225.7 million, up 31.4% on pcp
• $1.5 billion liquidity at 30 September 2020
• dividends of 4.75 cents per share for the half year (40% franked), down 6.9% on the pcp

According to the company, profits were boosted by lower finance costs. At 30 September 2020, Ausnet had an average cost of debt of 4.25% compared to 4.48% in the prior corresponding period. The company held an A-/stable rating from Standard and Poors and an A3/stable rating from Moody’s.

Ausnet gave some guidance on its future performance. Dividends for the full year were expected to be 9–9.5 cents, 40% franked. The company forecast that:

• its regulated asset base growth would be around 2–2.5% per annum to FY2024
• it is on track to hold $1.5 billion of contracted energy infrastructure assets by FY2024
• net debt to contracted and regulated asset base should be less than 70% by FY2024

About the Ausnet share price

The Ausnet share price is up more than 37% from its 52-week low of $1.46 and up 11.7% since this time last year. On current prices, Ausnet’s price-to-earnings ratio sits at 25.68 and its market capitalisation comes in at $7.5 billion.

More reading

• Leading brokers name 3 ASX shares to sell today

Motley Fool contributor Chris Chitty 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.

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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning run. The benchmark index is currently up 1.3% to 6,422.8 points.

Here’s what has been happening on the market today:

Commonwealth Bank Q1 update.

The Commonwealth Bank of Australia (ASX: CBA) share price is pushing higher today after the release of its first quarter update. For the three months ended 30 September, the bank posted an unaudited net profit after tax of $1.8 billion. This was a 16% decline over the prior corresponding period. In addition to this, Commonwealth Bank revealed a sharp reduction in its COVID-19 temporary loan deferrals during October. The bank recorded a net reduction in total loan deferred facilities of 59% during the month, representing a monthly net reduction in deferred balances of ~$21 billion.

Tech shares rebound.

The Australian tech sector has rebounded on Wednesday after a horror showing on Tuesday. The likes of Altium Limited (ASX: ALU) and Xero Limited (ASX: XRO) are recording solid gains and helping to drive the S&P/ASX All Technology Index (ASX: XTX) 2% higher. One tech share that is still struggling today is Afterpay Limited (ASX: APT). Its shares are down slightly at lunch. Though, it is worth remembering that they have more than tripled year to date.

Gold miners sink lower again.

It has been another red day for gold miners such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST). Although the gold price has recovered from its Monday night selloff, it appears that investors are not in a rush to invest. With risk sentiment improving, funds have been piling into areas of the market that have underperformed in 2020.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Wednesday has been the Virgin Money UK CDI (ASX: VUK) share price with a 13% gain. The prospect of a working COVID-19 vaccine has given the UK-based bank a big boost. The worst performer is the JB Hi-Fi Limited (ASX: JBH) share price with a 5% decline. This morning the retailer’s shares were downgraded by analysts at Macquarie.

More reading

• Why CBA, Straker, Woodside, & Xero shares are surging higher
• CBA (ASX:CBA) share price lifts on first quarter results
• These ASX dividend shares offer 4.5%+ dividend yields
• 5 things to watch on the ASX 200 on Wednesday
• Enjoying your ASX 200 gains? Here’s why you should watch out for January

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.

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The share price of Bingo Industries Ltd (ASX: BIN) has slipped 1.5% this morning following the company’s outlook for FY21 at the annual general meeting (AGM) this morning. Let’s take a look.

Highlights from the AGM

• Revenue $486.7 million, up by 21% from prior year
• Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) was $152.1 million, up 40.8% 
• Net Profit After Tax (NPAT) to $66 million, up by 196%
• Operating free cash flow of $160.1 million, up 37.4% 
• Achieved all safety targets for financial year 2020, recording a lost-time injury frequency rate of 0.4, which is a 50% improvement 

Management admitted that the company has been impacted hard by COVID-19, and it expected to be further impacted in the second half of FY21. 

The company is also anticipating increased regulations, which will result in increased compliance costs. It says that the Australian Competition and Consumer Commission (ACCC) market investigation is ongoing and the outcome is yet to be determined. 

Update and guidance for FY21

• Views on the outlook for FY21 remain unchanged, as the company anticipates COVID-19 headwinds may continue to impact the business in 2021.
• As a result, Bingo expects group EBITDA margin to decline in FY21 by approximately 2% to 3%, before rebounding to its longer-term target of 30%.
• Pre-collections volume continue to be affected by the ongoing impacts of COVID-19, down 10-15% below pre-COVID-19.
• Post-collections volume however, which accounts for approximately 72% of EBITDA, continued its strong momentum in volumes in the first four months of FY21.

What does Bingo do?

More reading

• ASX 200 up 1.3%: CBA Q1 update, tech shares rebound, JB Hi-Fi sinks
• ASX small cap RXP (ASX:RXP) is up 54%: Here’s why
• Why CBA, Straker, Woodside, & Xero shares are surging higher
• This under-the-radar ASX tech company’s shares are up 150% since March
• The Resources & Energy (ASX:REZ) share price dived 33% on open today. Here’s why.

Motley Fool contributor Eddy Sunarto 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.

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French consulting giant Capgemini SE (EPA: CAP) has announced it will buy Australian digital services provider RXP Services Ltd (ASX: RXP).

RXP is very much a small cap on the ASX, with a market capitalisation of under $60 million before the ASX opened Wednesday. Capgemini is a multinational worth $32 billion.

Capgemini will pay $95.5 million in cash for a 100% acquisition, equating to 55 cents per share.

RXP shares closed Tuesday at 34 cents – but exploded on Wednesday to be 54% up at 11:08 am AEDT, to hit 52 cents.

The buyout shows its intent in the Asia-Pacific, according to Capgemini.

“The acquisition of RXP Services will make Capgemini a market leader in Australia in digital, data and cloud,” said Capgemini Asia-Pacific and Middle East executive chair Luc-Francois Salvador.

“Both companies share similar values and vision of the role of technology and humanity in successfully transforming businesses and society. Our strengths will enable us to use insights, design and technology to create inclusive and sustainable futures for our clients.”

The transaction is currently undergoing all the necessary legal, regulatory and shareholder approvals and is expected to close in March 2021.

Carrot for existing shareholders

The RXP board stated Wednesday morning that it unanimously recommended the deal be accepted.

“The RXP board believes the offer from Capgemini represents an excellent opportunity for RXP shareholders to realise certain value at a significant premium.”

If shareholders approve the buyout a special dividend of 5 cents per share may be paid, although this amount would be taken out from the final 55 cents sale price.

The company already provides a fully franked yield of 10.29%.

RXP founder and chief executive Ross Fielding’s stake would turn into a $5 million payday when the buyout closes.

“I am very excited for the growth opportunities this will create for our 550 employees within a global and culturally aligned business,” he said.

“RXP’s valued clients stand to gain from an integrated group through increased scale.”

Once the deal is completed, RXP would become a wholly owned subsidiary of Capgemini.

More reading

• Why CBA, Straker, Woodside, & Xero shares are surging higher
• This under-the-radar ASX tech company’s shares are up 150% since March
• The Resources & Energy (ASX:REZ) share price dived 33% on open today. Here’s why.
• Why the Mesoblast (ASX:MSB) share price is jumping higher today
• Sky Network (ASX:SKT) share price shoots 6% higher on upgraded guidance

Motley Fool contributor Tony Yoo 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.

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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning run with another solid gain. At the time of writing the benchmark index is up over 1% to 6,406.3 points.

Four shares that are climbing more than most today are listed below. Here’s why they are surging higher:

Commonwealth Bank of Australia (ASX: CBA) 

The CBA share price is up over 2% to $74.04 following the release of its first quarter update. For the three months ended 30 September, the banking posted an unaudited net profit after tax of $1.8 billion. This was a 16% decline over the prior corresponding period. In addition to this, the bank revealed a sharp reduction in its COVID-19 temporary loan deferrals in October.

Straker Translations Ltd (ASX: STG)

The Straker share price has zoomed almost 44% higher to $1.30. Investors have been buying the translation platform provider’s shares after it announced a major deal with IBM. The global tech giant has appointed Straker as a strategic translation service provider on a two-year agreement. This agreement commences in January and comes with an option for an additional two years. It extends the company’s current relationship with IBM from one language (Spanish) to 55 languages.

Woodside Petroleum Limited (ASX: WPL)

The Woodside Petroleum share price has climbed 3% to $20.31. Today’s gain appears to have been driven by a rise in oil prices and the release of its investor day presentation. In respect to the latter, the company spoke positively about its future and confirmed its full-year output guidance of 99 to 101 million barrels of oil equivalent.

Xero Limited (ASX: XRO)

The Xero share price has surged 8% higher to $124.48. This is despite there being no news out of the business and accounting platform provider. However, with its half year results due to be released on Thursday, some investors may be buying shares in anticipation of a strong result.

More reading

• Why the Straker Translations (ASX:STG) share price is rocketing 37% higher today
• CBA (ASX:CBA) share price lifts on first quarter results
• These ASX dividend shares offer 4.5%+ dividend yields
• 5 things to watch on the ASX 200 on Wednesday
• Vaccine hopes cause ASX 200 to rise on Tuesday

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 Xero. The Motley Fool Australia has recommended Straker Translations. 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.

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Medical imaging and data management company Mach7 Technologies Ltd (ASX:M7T) has delivered some impressive shareholder returns this year. Despite all the commercial headwinds from COVID-19.

After falling to a 52-week low of just 37 cents in late March, the ASX small cap company’s share price has rallied strongly. In recent months, the Mach7 share price has soared more than 150% higher to 96 cents at the time of writing. This puts its shares up more than 45% so far this calendar year.

What has driven the gains?

Results for FY20 were positive across most financial metrics. Revenues surged 102% higher year-on-year to $18.9 million. The company also reported its first full year of profitability: earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $3.3 million, while net profit after tax was $0.2 million. Most of the uplift in revenues came from licensing fees, either from new customers or existing customers repurchasing licenses.

Annualised recurring revenues also jumped 35% to $9 million. These are subscription and support services revenues received from customers who are “live” on the Mach7 platform. The company will want to continue to grow this category of revenues in particular, as the more revenue the company can “lock in” each year, the less variability there will be in its financial results.

First quarter FY21 results haven’t been quite as strong. Annualised recurring revenues increased by $0.9 million, while the company generated $3.3 million worth of new sales orders. It also completed the acquisition of Client Outlook during the quarter, at a cost of $40.8 million. Client Outlook is a Canadian technology company servicing the healthcare industry, which specialises in medical imaging.

What does Mach7 actually do?

Mach7 develops a centralised software platform for healthcare professionals, with a focus on medical imaging. Patient data can be stored in multiple formats across multiple different systems. Mach7 aims to create a single, integrated source of reliable patient data that can be used by doctors and other healthcare professionals to deliver better results for their patients. The company already has a diverse range of clients, including Singapore General Hospital, Massachusetts General Hospital, and the Hamad Medical Corporation in Qatar.

When releasing Mach7’s first quarter results, company CEO Mike Lapron said: “We have very experienced individuals who are bullish about the product potential and confident in our ability to become a dominant player in the imaging market.”

Our Foolish analysts agreed with Lapron’s bullish outlook, and Mach7 earned itself a place on the Motley Fool’s Hidden Gems scorecard back in June. Our analysts liked the company’s strong business momentum and global market opportunities. 

More reading

• 3 growing small cap ASX shares
• Why Bendigo and Adelaide Bank, Mach7, National Storage, & Unibail-Rodamco-Westfield are dropping lower

Rhys Brock 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 MACH7 FPO. The Motley Fool Australia has recommended MACH7 FPO. 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.

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The Resources & Energy Group Ltd (ASX: REZ) share price took a 33% dive on open following its drill results this morning. 

Let’s take a look.

About the company 

Resources & Energy is a gold explorer, developer and producer with projects in Western Australia and Queensland. 

In Western Australia, the company’s flagship site is the East Menzies Gold Project, situated 130km north of Kalgoorlie. The site represents a 112sq km package of contiguous mining, exploration and prospecting licenses. 

In Queensland, the company has a 12sq km mineral development licence over the Mount Mackenzie Mineral Resource. An initial scoping study for the project shows a positive net $63 million of free cash. 

Resources & Energy share price surge in October

The Resources & Energy share price surged more than 200% on 20 October following the discovery of a new high-grade zone of gold mineralisation with a peak result of 76.4 gt/au. This was at the Gigante Grande Prospect situated at its East Menzies Gold Project.

Resources & Energy executive director Richard Poole said the results supported “the overwhelming evidence that the East Menzies Gold Field is one of Australia’s best and most overlooked exploration target areas”. 

Drill results

The gold miner announced its drilling results from its Gigante Grande prospect today. They showed the drill holes, which were targeting a potential continuation of mineralisation, resulted in a peak assay of 3.85 gt/au.

As a result, the Resources & Energy share price opened 33% lower and is currently trading near its intraday lows, down 29.5% at 7.4 cents. The bar may have been set too high after its previous high-grade zone discovery or its share price may have been pumped too high. Nonetheless, investors were clearly far from impressed with today’s drill results. 

Resources & Energy has previously delivered an announcement under similar circumstances where the market was not impressed. On 3 November, the company announced a resource upgrade at its Goodenough Project located within the central west part of the East Menzies Gold Project. In what appears to be a positive announcement, the Resources & Energy share price slipped 5% lower on the day. 

More reading

• Why the Mesoblast (ASX:MSB) share price is jumping higher today
• Sky Network (ASX:SKT) share price shoots 6% higher on upgraded guidance
• Why the Straker Translations (ASX:STG) share price is rocketing 37% higher today
• Computershare (ASX:CPU) share price higher after AGM
• CBA (ASX:CBA) share price lifts on first quarter results

Motley Fool contributor Lina Lim 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.

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