Stock Pick

  • Webjet and these shares were the worst performers on the ASX 200 in June

    Red and white arrows showing share price drop

    Despite an increase in volatility last month, the S&P/ASX 200 Index (ASX: XJO) still managed to record a solid 2.5% gain to end the period at 5,897.9 points.

    Unfortunately, not all shares were able to follow the market higher. Here’s why these were the worst performing ASX 200 shares in June:

    The Southern Cross Media Group Ltd (ASX: SXL) share price was the worst performer on the ASX 200 with a 25.5% decline. This media company’s shares have been incredibly volatile this year and regularly feature among the best and worst performers’ lists. Investors appear undecided on how much of a negative impact weak advertising markets will have on its business.

    The Nufarm Limited (ASX: NUF) share price wasn’t far behind with a decline of 24.3% in June. The catalysts for this decline appear to have been a trading update and a broker note out of Macquarie at the start of the month. According to the note, the broker downgraded Nufarm’s shares to an underperform rating with a $4.85 price target. Its analysts were disappointed with the agricultural chemicals company’s trading update and appear concerned over its prospects in the important fourth quarter.

    The Whitehaven Coal Ltd (ASX: WHC) share price was out of form in June and fell 21%. Investors may have been selling the coal miner’s shares due to concerns that it could be impacted negatively by the Australia-China trade spat. This follows reports that some Chinese power plant operators have been instructed to not buy Australian coal. Also adding to the selling pressure was news that its shares have been removed from the S&P/ASX 100 Index at the quarterly rebalance.

    The Webjet Limited (ASX: WEB) share price was a poor performer in June and fell 19.8%. Investors were quick to sell travel shares after a spike in coronavirus cases in Victoria threatened to delay the recovery of the domestic travel market. It wasn’t just Webjet falling heavily. The Corporate Travel Management Ltd (ASX: CTD) share price fell 19.2% and the Flight Centre Travel Group Ltd (ASX: FLT) share price tumbled 15% last month.

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    *Returns as of June 30th

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel 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 Webjet and these shares were the worst performers on the ASX 200 in June appeared first on Motley Fool Australia.

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  • 5 things to watch on the ASX 200 on Wednesday

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    On Tuesday the S&P/ASX 200 Index (ASX: XJO) rebounded from its Monday selloff with a strong gain. The benchmark index climbed a sizeable 1.4% to 5,897.9 points.

    Will the market be able to build on this on Wednesday? Here are five things to watch

    ASX 200 expected to open lower.

    The ASX 200 looks set to edge lower on Wednesday despite solid gains on Wall Street. According to the latest SPI futures, the benchmark index is poised to fall 6 points or 0.1% at the open. Over in the United States the Dow Jones is up 0.85%, the S&P 500 rose 1.5%, and the Nasdaq index pushed a sizeable 1.9% higher.

    Oil prices drop.

    Energy producers such as Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could start the new financial year in the red. According to Bloomberg, the WTI crude oil price is down slightly to US$39.68 a barrel and the Brent crude oil price has fallen 1.4% to US$41.14 a barrel. Demand concerns weighed on oil prices.

    Gold price jumps.

    Rising coronavirus cases could mean gold miners such as Evolution Mining Ltd (ASX: NCM) and Newcrest Mining Limited (ASX: NCM) start the month in a positive fashion. According to CNBC, the spot gold price jumped 0.95% to US$1,798.20 an ounce after a spike in cases led to increasing demand for safe haven assets.

    Nufarm announces changes to its manufacturing footprint.

    The Nufarm Limited (ASX: NUF) share price will be on watch today after a late announcement on Tuesday. The chemicals company revealed that it will cease the manufacture of insecticides and fungicides at its Raymond Road site in Laverton, Australia. It will also curtail herbicide manufacturing at its operations in Linz, Austria. CEO Greg Hunt advised that the changes are part of a company-wide program launched in March to improve financial returns.

    Westpac upgraded.

    The Westpac Banking Corp (ASX: WBC) share price is in the buy zone according to analysts at Goldman Sachs. This morning the broker upgraded the banking giant’s shares to a buy rating with a $20.13 price target. Goldman believes Westpac is relatively well-placed to deal with the end of the loan deferral period.

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    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    See The 5 Stocks

    *Returns as of June 30th

    More reading

    Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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 5 things to watch on the ASX 200 on Wednesday appeared first on Motley Fool Australia.

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  • COVID-19 delivery surge strains FedEx service, opening doors for UPS

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  • Truck Maker Aiming for 400 Vehicle Sales Is Worth $1 Billion

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  • Investors shouldn’t chase a potential COVID-19 vaccine winner: Analyst

    Investors shouldn't chase a potential COVID-19 vaccine winner: Analyst ROBO Global Senior Research Analyst Nina Deka joins Yahoo Finance’s On The Move panel to address the dangers of chasing coronavirus vaccine stocks.

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  • Why this libertarian CEO thinks gold prices will smash old records

    Why this libertarian CEO thinks gold prices will smash old recordsGold prices could stay on a hot streak. Here's why this gold industry insider thinks so.

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  • Inovio Presents ‘Positive’ Early Data For Covid-19 Vaccine Candidate; Shares Plunge 12%

    Inovio Presents ‘Positive’ Early Data For Covid-19 Vaccine Candidate; Shares Plunge 12%Inovio Pharmaceuticals (INO) on Tuesday announced “positive” interim clinical data results of INO-4800, its experimental vaccine candidate against the novel coronavirus.Shares, however dropped 12% to $27.74 in midday U.S. trading, suggesting investors were taking the results with a grain of salt. The value of the stock has this year already ballooned 740%.Inovio said that the early-stage clinical data demonstrated that INO-4800 resulted in immune responses and was generally safe and well-tolerated in all participants in the first two Phase 1 trial cohorts. In addition, the biotech company announced that INO-4800 has been selected to participate in a non-human primate (NHP) challenge study as part of the U.S. government's Operation Warp Speed, a national program aiming to provide substantial quantities of safe, effective vaccine for Americans by January 2021."We are very encouraged by the positive interim safety and preliminary cellular and humoral immune response results to date as well as the inclusion of INO-4800 in Operation Warp Speed,” Inovio President and CEO Joseph Kim said. “We are also pleased that INO-4800 vaccination abrogated viral replication in the lungs of mice challenged with SARS-CoV-2.”Furthermore, Inovio added that it has expanded its Phase 1 trial to add older participants in additional cohorts and plans to initiate a Phase 2/3 efficacy trial this summer upon regulatory concurrence.The Phase 1 clinical trial of INO-4800 initially enrolled 40 healthy adult volunteers in the age of 18 to 50 years at two U.S. sites. About 94% of Phase 1 trial participants demonstrated overall immune responses at week 6 after two doses of INO-4800 in trial with the 40 healthy volunteers in preliminary analyses.INO-4800 targets the major antigen Spike protein of SARS-CoV-2 virus, which causes Covid-19 disease.Following Inovio’s stellar rally this year, five-star analyst Ram Selvaraju at H.C. Wainwright on Monday downgraded the stock to Hold from Buy and withdrew his price target."We believe the risk/reward ratio for Inovio has increased significantly as many open questions remain, including the strength and duration of neutralizing antibodies and T cell responses that may be generated in human trials and the effective protection the vaccine may demonstrate in animal challenge studies," Selvaraju said in a note to investors.The skepticism stems from the fact that there is no approved human vaccine for any type of coronavirus and that no DNA vaccines have been approved yet for human use, he added.The Street has a cautiously optimistic outlook on Inovio, with a Moderate Buy analyst consensus based on 3 Buy ratings versus 5 Hold ratings. As the share price spiked so fast this year, the $27.80 average analyst price target now indicates shares are more than fully priced. (See Inovio stock analysis on TipRanks).Related News: Gilead Sets Pricing for Covid-19 Treatment Remdesivir at $2,340 Per Patient    AstraZeneca Strikes $127 Million Deal With Brazil For Covid-19 Vaccine Vaxart Explodes 96%- And Rallies After-Hours- On Covid-19 Deal More recent articles from Smarter Analyst: * Wells Fargo Plans To Cut Its Dividend In Q3; Top Analyst Lowers Price Target * Lululemon To Acquire At-Home Fitness Mirror For $500M * Tesla’s Elon Musk Asks Workers To Help Company Break Even in Second Quarter * Norwegian Air Cancels 97 Boeing Aircraft, Seeks Compensation

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  • Tesla’s Elon Musk Asks Workers To Help Company Break Even in Second Quarter

    Tesla’s Elon Musk Asks Workers To Help Company Break Even in Second QuarterTesla Inc.’s (TSLA) CEO billionaire Elon Musk is reportedly asking employees to work hard to allow the electric car maker to break even in the second quarter.According to an internal email seen by Reuters, Musk is encouraging employees to quickly build and deliver vehicles at the end of the quarter to meet specific targets after production was disrupted due to restrictions tied to the coronavirus pandemic.“Breaking even is looking super tight,” Musk said in the Monday email. “Really makes a difference for every car you build and deliver. Please go all out to ensure victory!”Shares rose 5.2% to 1,009.35 at the close on Monday. The plea comes as the automaker is this week expected to release its second-quarter delivery numbers report. Analysts on average expect the company to deliver about 74,000 vehicles in the months from April to June.Ahead of the delivery report, JMP Securities analyst Joseph Osha today raised the stock’s price target to $1,050 (4% upside potential) from $1,001 and maintained a Buy rating, saying that the consensus for Q2 unit deliveries looks "reasonable" as the strength of the China market appears to be sufficient to offset a "disastrous" quarter in the U.S. and Europe.Osha estimates that Tesla should be able to grow its delivery volumes by 14% in 2020.The company’s California vehicle factory was closed for more than six weeks with production disrupted from the end of March to early May due to local lockdown orders aimed at slowing the spread of the coronavirus pandemic.In April, Tesla surprised investors when it said production and delivery of its new sport utility vehicle, Model Y, was significantly ahead of schedule despite the virus outbreak. The company delivered 88,400 vehicles in the first quarter.Despite the disruptions, shares have this year seen a great run and have now more than doubled in value. So it is not surprising that the $733.43 average price target now implies 27% downside potential for the shares in the coming 12 months. (See Tesla’s stock analysis on TipRanks).Overall, the stock has a Hold analyst consensus with 10 Sell ratings and 10 Hold ratings versus 7 Buy ratings.Related News: Nvidia, Mercedes Partner On Autonomous Vehicle Venture; A ‘Match Made In Auto Heaven’ Says Oppenheimer Tesla Said To Have Won Chinese Nod To Build Model 3 With LFP Batteries Can Tesla Provide the Million Mile EV Battery? Top Analyst Weighs In More recent articles from Smarter Analyst: * Inovio Presents ‘Positive’ Early Data For Covid-19 Vaccine Candidate; Shares Plunge 12% * Wells Fargo Plans To Cut Its Dividend In Q3; Top Analyst Lowers Price Target * Lululemon To Acquire At-Home Fitness Mirror For $500M * Norwegian Air Cancels 97 Boeing Aircraft, Seeks Compensation

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  • ‘We’re still at the front end of what’s likely to be a multi-year phenomenon’: L3Harris CEO

    ‘We're still at the front end of what's likely to be a multi-year phenomenon’: L3Harris CEOBill Brown, L3Harris CEO, joins The First Trade to discuss his company’s $1 billion contract with the U.S. government and the commercial airline industry as national debt continues to rise.

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  • Microsoft vs Alphabet: You Won’t Believe This!

    Microsoft vs Alphabet: You Won’t Believe This!If you are looking for the best ideas for your portfolio you may want to consider some of Wedgewood Partners top stock picks. Wedgewood Partners, an investment management firm, is bullish on Alphabet Inc. (NASDAQ:GOOG) stock. In its Q4 2019 investor letter – you can download a copy here – the firm discussed its investment […]

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