Leisure and entertainment company Ardent Leisure Group Ltd‘s (ASX: ALG) share price topped the leader’s board on the ASX last week. The Ardent Leisure share price gained a whopping 22.7% in the first trading week of August.

Things got off to a rockier start for the company this week, with Ardent’s share price falling 3.6% by this morning’s opening bell. And shareholders looked to be in for more pain in early morning trade today as Ardent Leisure’s share price fell 5% in less than an hour.

Like one of the company’s amusement park rides, though, the share price came shooting back up to recoup all those losses by mid-afternoon trade.

Ardent Leisure’s share price gain of 21.2% for August still puts it at the top of the big gainer’s board.

Of course, it’s got a lot further to climb before regaining all of 2020’s massive losses.

Like most shares on the ASX — particularly companies tied to travel and entertainment — the COVID-19 market rout hit the Ardent share price hard. From 21 February to 25 March, Ardent’s share price cratered by 92%.

Since the 25 March low, the company’s shares have shot up an impressive 264%. Yet it’s still far shy of where it began the year, down nearly 70% since 2 January.

That’s seen its market capitalisation reduced to $189 million.

What does Ardent Leisure do?

Ardent Leisure is an Australian leisure and entertainment group. The company owns and operates premium leisure assets which include Dreamworld, WhiteWater World and SkyPoint theme parks.

Its Main Event portfolio also includes a growing number of family entertainment assets in the United States.

Why is the Ardent Leisure share under pressure after last week’s 23% gain?

Last week, Ardent Leisure’s share price got a boost when the company announced it was reopening Dreamworld and WhiteWater World in mid-September. Continued social distancing measures, however, mean the theme parks will be limited to 50% capacity.

The share price was also buoyed after Ardent announced it was receiving a $66.9 million loan plus a grant of $3 million from the Queensland Government’s COVID-19 industry support package.

Two factors are likely seeing Ardent’s share price falling this week.

First, after a 23% increase, it’s natural to expect that several short-term investors will be selling shares to pocket some gains.

Second, the news out of New Zealand regarding renewed COVID-19 cases, and the subsequent lockdowns in Auckland, is likely scaring investors away from a company that’s so reliant on international and interstate tourism.

More reading

• These were last week’s best performing ASX shares
• Ardent Leisure share price on watch following government assistance
• Village Roadshow locked in a capital raise as it secures new $70m facility
• Ardent Leisure share price surges 10% despite facing $4.5 million fine

Motley Fool contributor Bernd Struben 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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More than six months into the coronavirus pandemic, the end is still out of sight. Authorities have predicted a COVID-19 vaccine will not be widely available until well into next year.

Which means if we have to spend more than 12 months living with coronavirus restrictions, some of the changes we have made to our lives are likely to turn into lasting habits. Things like working from home and shopping online. 

Shifts in consumer behaviours resulting from the pandemic have real financial impacts for ASX shares. When spending patterns change, revenues can ebb and flow, or redirect to a different product or service.

With the social change brought by COVID-19 in mind, let’s take a look at 4 ASX shares for a post-coronavirus world. 

Livetiles Ltd (ASX: LVT)

Livetiles is a technology company supplying software used to create corporate intranets and employee portals. With operations across the US, Europe, and Australia, the ASX share has benefitted from the shift to remote working caused by the pandemic, which has increased interest in its products. COVID-19 has accelerated global digital workplace software adoption. 

Livetiles operates a software-as-a-service (SaaS) business. Its products create enhancements to underlying Microsoft platforms such as Office 365 and Azure. These enhancements address common business needs and priorities.

Having secured its first customer in 2015, Livetiles now has more than 1,200 enterprise customers and more than 1,000 recurring subscription customers. 

The COVID-19 pandemic has shifted solutions like those offered by Livetiles from “nice to have” to “must have” status. While the sales environment for enterprise software remains challenging, strong medium and long term tailwinds are pushing the adoption of digital workplace software. This should support long-term growth in Livetiles revenue.

The ASX share reported strong revenue growth in the fourth quarter – annualised recurring revenue increased to $58.2 million from $5.2 million at the end of March. 

Kogan.com Ltd (ASX: KGN) 

Online retailer Kogan has seen sales boom since the onset of the pandemic. As physical stores shut, consumers moved to transacting online, boosting Kogan’s bottom line. The ASX share reported a 103% increase in gross sales in April and May, which led to 130% increase in gross profit. Sales continued at an accelerated pace even after the first lockdown ended, with June sales of more than $94 million. 

In 4Q FY20 Kogan grew gross sales by more than 95% and gross profit by 115%. Adjusted EBITDA grew by more than 149%. The company reported it had more than 2 million active customers at the end of June, with 109,00 active customers added during the month.

This means Kogan, which listed on the ASX in 2016, has delivered four consecutive years of significant growth in sales and earnings. Founder Ruslan Kogan said: “Our business is booming as more customers than ever choose Kogan.com.”

Kogan is due to release its full year results next Monday. Investors are expecting big things with the Kogan share price increasing 300% over the past year. But the ASX share stands to benefit greatly from the long term shift to digital which has been accelerated by current events. This is demonstrated in the company’s most recent results – July sales were up more than 110% year on year with active customers growing to over 2.3 million. 

Afterpay Ltd (ASX: APT) 

Australia’s largest buy-now-pay-later (BNPL) provider, Afterpay, was already reporting phenomenal growth prior to the onset of COVID-19. The pandemic has accelerated this growth with underlying sales in the fourth quarter growing 127% to $3.8 billion, the highest quarterly sales performance ever. The BNPL provider now boasts 9.9 million customers, a 116% increase compared to 30 June 2019 and above the target of 9.5 million by the end of FY20. 

Afterpay has benefitted from the flight to online spending and an increased focus on budgeting in the current economic environment. The ASX share is focused on growing underlying sales and prioritising global expansion in the short term in order to maximise shareholder value in the long-term. To this end, Afterpay raised $800 million in capital last month to invest in growth. 

Afterpay is now well-capitalised to grow its position in each market and expedite its expansion into new markets. The additional capital also provides the capacity to execute on potential M&A opportunities that may arise. There are plans to launch in Canada and roll out in-store services in the US in 1Q FY21. FY21 is expected to be a year of increased investment for Afterpay as it maintains its strong momentum and capitalises on the opportunity to scale globally. 

Megaport Ltd (ASX: MP1) 

Megaport operates in the network-as-a-service space, providing bandwidth to allow customers to connect to cloud services and data centres. The company has been focused on expanding its network footprint to new markets and deepening its reach in existing ones. Following expansion into Denmark and Spain in 4Q FY20, the Megaport platform is now available in 23 countries and 128 cities. The ASX share now serves 1,842 customers including Amazon, Facebook, Tesla, and Salesforce. 

Megaport reported strong growth in revenue and customer numbers in FY20 as ecosystem richness drove greater service connection opportunities. Customer numbers grew from 1,490 at the end of FY19 to 1,842 at the end of FY20. Over the same period, monthly recurring revenue increased 52% to $5.7 million and annualised revenue grew 57% to $67.8 million. Profit margins are also increasing as growth in recurring revenue has outstripped growth in direct network costs. 

Megaport has now delivered 17 consecutive quarters of growth in annualised revenue. The technology operator is due to report full year results on Wednesday 19 August which will give investors insight into its growth over the past year.

CEO Vincent English said: “Megaport has continued its strong growth momentum, with solid revenue results throughout FY20. The Megaport platform has enabled customers the flexibility to respond to their rapidly changing business environment.”

More reading

• Whatever happened to WAAAX shares?
• 3 stellar ASX tech shares to buy for the long term
• Where to invest $500 into ASX shares immediately
• Is the Afterpay share price a buy?
• Can the Kogan share price keep going?

Kate O’Brien 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 MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd and LIVETILES FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Kogan.com ltd, LIVETILES FPO, and MEGAPORT 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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Although the BHP Group Ltd (ASX: BHP) share price is dropping 1% lower on Wednesday, it has still been among the best performing blue chips over the last 30 days.

Since this time last month, the mining giant’s shares have gained 10%. This compares to a 3.2% gain by the S&P/ASX 200 Index (ASX: XJO).

Why is the BHP share price up 10% in a month?

There have been a couple of catalysts for BHP’s strong performance over the last 30 days.

The first is the positive performance of the iron ore price. The price of the steel making ingredient has been edging higher over the last few weeks and currently stands at a lofty US$118.34 a tonne according to CommSec.

It is for the same reason that the Fortescue Metals Group Limited (ASX: FMG) share price has been a very strong performer over the same period.

Another catalyst for the BHP share price rise has been its fourth quarter and full year update.

During the 12 months, BHP achieved its production guidance for iron ore, metallurgical coal, and operated copper and energy coal assets.

The Big Australian’s iron ore business was arguably the highlight of the year. Production increased 4% on the prior corresponding period to 248 Mt.

Pleasingly, this is expected to have been achieved with Western Australia Iron Ore costs in line with its guidance of US$13 a tonne to US$14 a tonne. Which is significantly lower than the average price realised of US$77.36 a tonne during the 12 months.

This could mean another year of bumper free cash flow for BHP in FY 2020, which may result in further generous dividends when it hands its report card later this month. And if iron ore prices remain stronger for longer, FY 2021 could be a similarly positive year.

Should you invest?

BHP remains my favourite pick in the resources sector even after its strong gain over the last 30 days. I think it is a top option due to its world class and low cost operations, growth opportunities, and favourable commodity prices.

Overall, I continue to class BHP shares as a buy, especially for income investors in search of dividends in this low interest rate environment.

More reading

• Broker sees top returns for iron ore miners BHP and Rio
• Has the ASX 200 finally taken off?
• ASX iron ore miners jump on broker upgrades
• Are ASX lithium shares the next big thing?
• 3 tips for beginners investing in ASX shares

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.

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The Commonwealth Bank of Australia (ASX: CBA) share price is edging lower on Wednesday afternoon following the release of its full year results.

At the time of writing the banking giant’s shares are down almost 0.5% to $74.37.

How did Commonwealth Bank perform?

In case you missed it earlier, here’s a summary of how Commonwealth Bank performed in FY 2020:

• Operating income of $23,758 million, up 0.8% on the prior corresponding period.
• Net interest margin declined 2 basis points to 2.07%.
• Home lending growth at 1.3x system and household deposit balance growth of 9.8%.
• Statutory net profit after tax including discontinued operations of $9,634 million, up 12.4% on FY 2019. This statutory result includes significant gains on the sale of businesses.
• Cash net profit after tax from continuing operations down 11.3% to $7,296 million. This was driven largely by higher COVID-19 loan impairment expense.
• Final fully franked dividend of 98 cents per share, representing a dividend payout ratio of 49.95%. This is in line with APRA’s guidance that banks should retain at least 50% of earnings.
• CET1 ratio of 11.6%, comfortably ahead of APRA’s ‘unquestionably strong’ benchmark of 10.5%.

How does this compare to expectations?

According to a note out of Goldman Sachs, Commonwealth Bank’s cash earnings from continuing operations were 2.2% below its expectations. It notes that this was partly due to a 3 basis point miss on its net interest margin and weaker trading/other income.

Positively, its dividend was better than the broker expected. Goldman had been expecting a final dividend of 90 cents per share. It was also expecting a lower CET1 ratio of 11%.

The banking giant’s asset quality surprised the broker. Commonwealth Bank’s bad and doubtful debts charge to loans ratio was 49 basis points in the second half, well short of Goldman’s forecast for 57 basis points.

Looking ahead, Goldman appears happy with the bank’s prospects in respect to its asset quality.

It commented: “The economic assumptions used by CBA to come up with its provisioning appear to have remained relatively unchanged versus its 3Q20 trading update, with 2020 GDP growth remaining at -6.0% (compares to current GSe of -4.0%), unemployment at 9.0% (GSe 8%) and a 12% fall in house prices (GSe -5%).”

“Forward indicators of asset quality were mixed: new impaireds were down 2% hoh (hardly surprising given loan deferrals), the balance of impaireds was up 5% hoh, with gross impaired assets + corporate troublesome loans up hoh to A$8.7 bn (A$7.8 bn in pcp and hoh). Mortgage arrears increased by 2bp hoh but down 5bp on pcp,” it added.

Nevertheless, despite the bank ticking quite a few boxes in FY 2020, it isn’t enough for Goldman to change its rating on Commonwealth Bank shares. It has held firm with its sell rating and $65.25 price target.

More reading

• Fund managers have been buying these ASX shares
• As CBA slashes its dividend, the brutal reality is bank shares have been dogs for 5 years, with more pain ahead
• ASX 200 down 0.3%: CBA delivers $7.3bn cash profit, gold miners sink, SEEK’s outlook disappoints
• ASX investors have been buying these international shares
• CBA share price dips on FY20 results and slashed dividend

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.

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I like to keep an eye on substantial shareholder notices. This is because these notices give you an idea of which shares large investors, asset managers, and investment funds are buying or selling.

Two notices that have caught my eye today are summarised below. Here’s what these fund managers have been buying:

Baby Bunting Group Ltd (ASX: BBN)

A notice of initial substantial holder reveals that United Super has been adding to its position over the last few months. Between 6 April and 4 August, the fund manager picked up 1,557,545 Baby Bunting shares. This brought its total holding to 6,446,678 shares, which equates to a 5.05% interest in the baby products retailer’s shares.

While its purchases in April were at a significant discount to today’s share price, it did pick up 200,000 shares for an average of $3.60 per share last week. This is the same level Baby Bunting’s shares are trading at today, which appears to be an indication that this fund manager still sees a lot of value in them. One broker that might agree is Citi. Last month it put an overweight rating and $3.90 price target on its shares.

EML Payments Ltd (ASX: EML)

Another notice of initial substantial holder reveals that Commonwealth Bank of Australia (ASX: CBA) has been buying this payments company’s shares. According to the notice, the banking giant and its subsidiaries have been buying EML shares consistently since the beginning of April. As a result, the bank now owns 18,008,708 shares, which is the equivalent of a 5% stake in the company.

It appears as though Commonwealth Bank has taken advantage of a collapse in the EML Payments share price during the pandemic. Its shares are down by 46% from their 52-week high after the coronavirus hit its business hard. However, management remains confident that its growth will resume post-pandemic. Judging by its purchases, Commonwealth Bank appears to agree with this view.

More reading

• How did the CBA FY 2020 result compare with expectations?
• As CBA slashes its dividend, the brutal reality is bank shares have been dogs for 5 years, with more pain ahead
• ASX 200 down 0.3%: CBA delivers $7.3bn cash profit, gold miners sink, SEEK’s outlook disappoints
• ASX investors have been buying these international shares
• CBA share price dips on FY20 results and slashed dividend

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Emerchants 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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WAAAX is an acronym we don’t seem to hear as much as we used to on the ASX share market.

Inspired by the FAANG (Facebook, Apple, Amazon.com, Netflix and Alphabet (owner of Google) stocks of American fame, WAAAX was the term coined to describe a group of high-flying ASX tech shares.

These shares were – sorry, are – WiseTech Global Ltd (ASX: WTC), Appen Ltd (ASX: APX), Altium Limited (ASX: ALU), Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO).

And back in early 2019, they were all the rage.

All had delivered strong capital growth over the previous few years. All were exciting, innovative tech stars that ASX investors dreamed might one day rival the famous FAANGs.

So what happened? Why do we not hear this WAAAX term as much anymore? Has the WAAAX turned to wane?

WAAAX off?

Well, it comes down to divergence. See, it was easy to pile these 5 companies together when their fortunes were intertwined. But today, it’s a different story, with the 5 WAAAX shares going in 3 separate directions.

Afterpay and Xero have continued to shoot the lights out. These 2 companies are today trading near record highs.

Appen and Altium haven’t really enjoyed the same level of love from investors though. Appen shares have recently had a leg up, but between March 2019 and May 2020 pretty much went nowhere. It’s a similar story with Altium.

WiseTech Global though… ouch. This global logistics company is something of a fallen WAAAX angel. After rising by around 360% in the 2 years to September 2019, WiseTech has been in freefall ever since. Over the past 11 months, WiseTech shareholders are down around 50%.

And that’s why I think we don’t hear much of the ‘WAAAX shares’ anymore. Perhaps because AAAX (or XAAA) doesn’t quite have the same ring to it. Or perhaps ASX investors now accept that we can’t really rival the seemingly-indestructible FAANGs over in the US, at least right now.

Which AAAX share is the pick of the bunch?

As you might have picked up, I’m not a huge fan of WiseTech. But the other 4 ‘AAAXers’ I am more partial to. All have long growth runways ahead of them and could be massive companies in 10 years’ time if their cards are played right.

If pricing wasn’t an issue, Afterpay and Xero would definitely my picks of the bunch. I love Xero’s capital-light, software as a service (SaaS) model, which could turn Xero into a free cash flow machine down the road.

Ditto with Afterpay. If Afterpay can continue carving the US and UK markets up and enter the Asian market, I think its growth potential is almost limitless. Especially if you consider its recent partnership with Chinese e-commerce giant Tencent Holdings.

All of this (and perhaps more) is reflected in the current Xero and Afterpay share prices in my view, so I’m still biding my time with these two. But they are both companies I would love to see in my portfolio and sooner, rather than later.

More reading

• 4 ASX shares to buy now for a post-coronavirus world
• 3 stellar ASX tech shares to buy for the long term
• Why Mesoblast, Northern Star, SEEK, & WiseTech Global shares are sinking lower
• Is the Afterpay share price a buy?
• Why I think the Xero share price is a futureproof buy

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Sebastian Bowen owns shares of Alphabet (A shares) and Facebook. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Altium, and Facebook. 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, Appen Ltd, and WiseTech Global. The Motley Fool Australia has recommended Alphabet (A shares) and Facebook. 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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ASX stocks that have delivered pleasant surprises during the reporting season have been outperforming the S&P/ASX 200 Index (Index:^AXJO).

Some recent examples include the GPT Group (ASX: GPT) share price, Aurizon Holdings Ltd (ASX: AZJ) share price and James Hardie Industries plc (ASX: JHX) share price.

Here are two other ASX 200 stocks that may beat expectations when they hand in their earnings report card next week.

Earnings surprise on strong tailwinds

One possible reporting season hero is the AMCOR PLC/IDR UNRESTR (ASX: AMC) share price. Macquarie Group Ltd (ASX: MQG) noted that other packaging companies like Berry, Sealed Air and Huhtamaki have all reported results that exceeded consensus forecasts.

It’s also worth noting that the COVID-19 crisis triggered a surge in demand for a range of consumer goods that Amcor is exposed to. More than 95% of the group’s sales are linked to food, beverages, healthcare and personal care.

Double-digit growth

Macquarie is forecasting Amcor to deliver earnings per share (EPS) growth of between 10% and 11% for FY20, and a further 9% in the current financial year.

Not many companies can boast of having double digit growth in the past year and if the positive tailwinds continue into 2021, the broker’s 9% forecast for FY21 may look conservative.

Amcor will report its results on 18 August. Macquarie is recommending Amcor as “outperform” (or a “buy”) with a price target of $16.81.

Cream rises to the top

Another stock that looks poised to beat the street is the A2 Milk Company Ltd (ASX: A2M) share price.

UBS believes the infant formula (IF) company will post a FY20 earnings before interest, tax, depreciation and amortisation (EBITDA) that is around 4% above consensus.

The broker came to this conclusion by compiling the sales data of A2’s products across different channels and analysed its operating expenses. The market is underestimating A2’s profit margins.

Positive FY21 outlook expected

“Our revenue growth indicator is in line with market consensus with strong IF growth via CBEC [cross border e-commerce] countering headwinds in small daigou and MBS [Mother and Baby Stores],” said UBS.

“Our analysis suggests A2M enters FY21 with a record CBEC market share in July and MBS sales ahead of pre-COVID-19 helped by a larger store footprint.

“Plus channel checks point to wholesale price increase of ~5% phased in over 1HFY21.”

However, Australian distributors may be holding excess stock and weak gift store demand could offset some of these positives.

Nonetheless, UBS is recommending investors buy the ASX and New Zealand listed stocks. It’s price target on A2M is NZ$22 a share.

A2 Milk is expected to report its results next Wednesday.

More reading

• How the Santos share price could gain from COVID-19 stimulus
• 2 easy ASX shares to buy for small cap exposure
• Top brokers name 3 ASX 200 shares to buy today
• ASX 200 down 0.3%: CBA delivers $7.3bn cash profit, gold miners sink, SEEK’s outlook disappoints
• Should you buy these 2 ASX dairy shares instead of A2 Milk?

Motley Fool contributor Brendon Lau owns shares of James Hardie Industries plc. Connect with me on Twitter @brenlau.

The Motley Fool Australia owns shares of and has recommended Amcor Limited. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Aurizon 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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Investors look to have embraced the wisdom of the legendary Warren Buffett in yesterday’s trading, which saw the S&P/ASX 200 Index (ASX: XJO) close up 0.5%. That’s the index’s strongest performance so far this month.

The Oracle of Omaha is almost as well known for his golden investment adages as he is for his incredible success in the share markets. Success that’s seen his personal wealth grow to more than US$70 billion (AU$99 billion).

Here are 3 of my favourite Buffett nuggets – all of which Aussie investors look to have taken to heart on Tuesday.

First, embrace what’s boring, think long-term, and ignore the ups and downs.

Second, never overpay for anything.

And third, the best investments provide real world value, not just market value.

Signs of life in travel and real estate share prices

In today’s COVID-19 world, investors have flocked to technology and healthcare shares.

Technology, because many of these companies’ share prices benefit from the huge societal shift in working, shopping and socialising from our homes.

And healthcare because, well, we are talking about a global pandemic here.

Now the best placed shares in both of these sectors should continue to perform well over the mid-term. But it’s some of the most savaged shares in 2 of the most beaten down industries — travel and property — that have started capturing the attention of value investors.

Here are 2 of the standouts.

First, Flight Centre Travel Group Ltd (ASX: FLT). As the largest retailer of travel in Australia, Flight Centre was absolutely smashed following the virtual shutdown of global and even interstate travel. From its 2020 high on 15 January through its 2020 low on 23 April, the Flight Centre share price fell more than 78%.

Ouch!

But with the Flight Centre share price in the basement, August has seen bargain hunters snap up the shares of this company that provides real world value.

Yesterday, Flight Centre’s share price gained 6%. That brought its share price gains in August to more than 18%. In trading today it has given some of those gains back, likely driven by news of a renewed lockdown in Auckland. That’s certainly not good news for the company in the short-term. But if you’re thinking long-term, ignoring the ups and downs and not wanting to overpay for anything (just like Buffett), you may want to consider adding some Flight Centre shares to your portfolio.

Moving onto to the battered real estate sector, the brick-and-mortar retailers – and their landlords – have been among the hardest hit from the social distancing and lockdown measures intended to manage or eliminate the coronavirus.

Take Shopping Centres Australasia Property Group (ASX: SCP). The real estate investment trust (REIT) has a current market cap of $2.4 billion. It owns a diversified portfolio of shopping centres.

From 19 February through 19 March, the Shopping Centres Australasia share price fell 35%.

But August has seen a solid turnaround for the REIT’s share price. Yesterday’s 4.1% gain brought the monthly gains for August to 6.5%. But like Flight Centre, the Shopping Centres Australasia share price is down in intraday trade today, also likely impacted by the new coronavirus cases reported across the ditch.

Our pitched battle with this virus isn’t over yet. And this will continue to see shares gain on any good news of vaccines and elimination results and fall on any setbacks.

But again, if you’re thinking long-term, ignoring the ups and downs and looking for shares that provide real world value, the current Shopping Centres Australasia share price could look like a bargain in 2 years’ time.

While on the subject of Buffett truisms…

Is the boom over for big technology shares?

Here’s a good lesson in ignoring daily and weekly price swings.

It seems the NASDAQ-100 (INDEXNASDAQ: NDX) – comprised of the 100 biggest companies on the broader tech-heavy Nasdaq Composite (INDEXNASDAQ: .IXIC) – is under pressure.

This headline from Bloomberg caught my attention this morning: “‘Stay-at-Home’ Safety Trade Unravels With Big Tech Left Behind.”

Here’s an excerpt:

An oddity is occurring as the stock market grinds back to an all-time high: Big tech is getting left behind.

A risk-on rotation rippling across markets has the tech-heavy Nasdaq 100 flirting with a third straight loss — which would be its longest slide since March — as the S&P 500 climbs for an eighth consecutive day and approaches its February record.

Batten the hatches! Man the lifeboats!

Is it time to sell your shares of Apple Inc. (NASDAQ: AAPL), Alphabet Inc Class A (NASDAQ: GOOGL) and Facebook, Inc. (NASDAQ: FB)?

Hardly.

We’re talking about 3 days of rather minor losses, down 3.4%.

Highlighting that this is the longest slide since March sounds alarming. But on the flip side, it means the top 100 Nasdaq listed shares (taken together) haven’t lost ground for more than 2 consecutive days since March either.

In fact, the NASDAQ-100 is up 55% since 20 March. And it has gained 23%, year-to-date.

And as far as I can discern, there’s no reason the biggest technology companies can’t see their share prices gain that much or more again over the next 2 years. With some ups and downs along the way, of course.

More reading

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Oil and gas producer Santos Ltd‘s (ASX: STO) share price is still well down for the year. From its 15 January 2020 high of $9.00 per share, the Santos share price crashed 69% to its low on 19 March. It had the COVID-19 panic selling, which hammered most shares on the ASX, to thank for that.

That’s a steep hill to climb back up. Although the company has come a long way, gaining 110% since the 19 March trough, year-to-date, the Santos share price still remains down 30%. That gives the company a current market cap of $12 billion.

Santos trades at a price to earnings (P/E) ratio of 12.9 times. However, both its share price and its earnings could be in for a boost.

What does Santos do?

Headquartered in Adelaide, Santos Ltd is a leading independent oil and gas producer in the Asia-Pacific region.

With its origins in the Cooper Basin, Santos has one of the largest exploration and production acreages in Australia and extensive infrastructure. It supplies natural gas to Australian, Indonesian and other Asian markets, and develops oil and liquids businesses in Australia, Indonesia and Vietnam. Santos also focuses on liquefied natural gas (LNG) strategy. It has interests in four LNG projects in Australia.

Santos shares have been trading on the ASX since 1970. Today it’s one of the top 200 companies by market cap in Australia, and listed on the S&P/ASX 200 Index (ASX: XJO).

How can COVID-19 lift Santos share price?

The share price hasn’t been helped by falling energy prices, as the pandemic forced border closures and lockdowns, resulting in a huge drop in the demand for oil.

But this same pandemic could offer a welcome boost for Santos’ shareholders. That is if the Australian Government goes through with a proposal to underwrite new gas pipelines and the supporting infrastructure to reduce the cost of energy for Aussie companies and households.

This is the recommendation made by the appropriately named Nev Power. Power is the National COVID-19 Co-ordination Commission chair. And, as the Australian Financial Review reports, he’s also a leading advocate for a gas-led economic recovery.

Santos’ plan to tap coal seam gas deposits in Pilliga State Forest, New South Wales is one of the projects the manufacturing taskforce is recommending for government support.

None of this has passed through legislation yet. But if it does, the Santos share price could enjoy a nice run higher.

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Motley Fool contributor Bernd Struben 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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