The Coca-Cola Amatil Ltd (ASX: CCL) share price is up 0.4% in early afternoon trading today. That puts shares up 1.4% since 26 October, when Coca-Cola European Partners (NYSE: CCEP) made its $9.3 billion takeover offer, valuing the shares at $12.75.

The S&P/ASX 200 Index (ASX: XJO) is up 7.2% in that same period. And it’s this resurgence in the wider market that has some of the Amatil’s larger shareholders demanding more. At least 10% more.

We’ll look at their rationale below. But first…

What does Coca-Cola Amatil do?

Coca-Cola Amatil is the authorised bottler and distributor of Coca-Cola Co‘s (NYSE: KO) beverages in Australia and 5 other Asia Pacific regions. Amatil provides a range of popular beverages including Coke, Sprite, Fanta, Kirks, Mount Franklin, Powerade, and Mother. The company also has a portfolio of alcoholic beverages, comprising a mix of company-owned and partner brands across beer, cider and spirits.

Coca-Cola Amatil has access to around 270 million potential consumers through more than 630,000 active customers.

How can these fundies send Coca-Cola Amatil’s share price 10% higher?

As the Australian Financial Review reports:

Four Amatil shareholders – Dublin-based Setanta Asset Management, Martin Currie Australia, Antares Capital and Pendal Group – have said CCEP’s offer is opportunistic and the price undervalued the business.

Together the 4 fund managers hold some 9–10% of Amatil’s shares. A formidable voting block that could derail the current offer when it comes to a vote in March. Some of the fundies believe the offer should value Amatil for at least $14 per share, 10% more than the current deal on the table.

According to one hedge fund manager (quoted by the AFR):

It would have been very hard to do this prior to COVID-19 and trying to do it next year when the world opens back up again would be extremely difficult. Markets could be higher [in March] than where they are today, which would certainly justify a higher bid.

If the past months have taught investors anything, it’s that the global economic outlook can change almost overnight. With that in mind, a lot could happen between now and March.

In the meantime, the Coca-Cola Amatil share price will be one to keep an eye on.

More reading

• ASX 200 down 0.35%: Bega Cheese jumps, Flight Centre & Webjet tumble lower
• This expert thinks the oil price could surge to US$196 a barrel in 2021
• Fund king Ray Dalio ditches China for Coke (NYSE:KO)
• ASX 200 expected to drop lower amid COVID-19 vaccine concerns
• 5 things to watch on the ASX 200 on Friday

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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The S&P/ASX 200 Index (ASX: XJO) is on course to end the week in a disappointing fashion. In afternoon trade the benchmark index is down 0.6% to 6,595.2 points.

Four shares that have fallen more than most today are listed below. Here’s why they are dropping lower:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is down 3.5% to $1.77. Investors have been selling energy shares on Friday after oil prices pulled back. According to Bloomberg, the WTI crude oil price is currently down 1.4% to US$45.06 a barrel. This has led to the S&P/ASX 200 Energy index falling 2.3% in afternoon trade.

Bravura Solutions Ltd (ASX: BVS)

The Bravura share price is down over 1% to $3.28. This appears to have been driven by a broker note out of Wilsons this morning. Its analysts remain concerned with the financial technology company’s near term prospects. As a result, they have reiterated their underweight rating and $2.97 price target on the company’s shares. Earlier this week Bravura advised that its profits would be weighted 80% to the second half in FY 2021.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down almost 4.5% to $17.15. Investors have been selling travel shares today amid concerns over the data from the AstraZeneca COVID-19 vaccine candidate. As an effective dosing regimen was given purely to a group filled with under 55s, which are classed as lower risk, there are concerns that the vaccine may not be as effective for higher risk individuals.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price has crashed 11% lower to $9.23. This follows an announcement by the Chinese Ministry of Commerce which reveals that it will apply provisional anti-dumping measures on Australian wine imports into China. The wine giant has requested a trading halt, pending the release of a response to the announcement.

More reading

• Why the Helloworld (ASX:HLO) share price is sinking lower today
• ASX 200 down 0.35%: Bega Cheese jumps, Flight Centre & Webjet tumble lower
• This expert thinks the oil price could surge to US$196 a barrel in 2021
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd and Treasury Wine Estates Limited. 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.

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The Douugh Ltd (ASX: DOU) share price is in a trading halt today over a proposed partnership agreement with a leading full service payments company, and capital raising. This follows the company’s ASX debut on 6 October 2020 after a $6 million initial public offering (IPO) at an offer price of 3 cents per share. 

About Douugh 

Douugh is a fintech company, taking an artificial intelligence first approach to disrupting traditional banking. It operates a subscription based financial wellness platform which helps customers spend wisely, save more and build wealth via a smart bank account and Mastercard debit card. 

The Douugh share price more than doubled on its ASX debut to close at 7 cents but that was just the beginning of a run to a peak of 49 cents just two weeks later. The Douugh share price was trading at 26.5 cents at close of trade yesterday.

The company is currently in the early stages of establishing its presence in the US and Australia. On 17 November, Douugh announced its official launch in the US after a successful 18-month beta trial. Its go-to-market growth strategy will be its utilisation of Google’s AI-powered ad bidding platform to target profitable customers. In addition, the introduction of a viral member-get-member affiliate distribution channel to grow the community via word-of-month, and expanded marketing program across online and social media platforms. The company indicated that 45.5% of its IPO funds would be allocated to marketing. 

Douugh will now look to scale up its US customer base. Features such as Autopilot and Investment Jars will be rolled out in the coming months, prior to the introduction of a monthly subscription fee. 

Capital raising right after IPO? 

Pointsbet Holdings Ltd (ASX: PBH) is an example of a company that initiated a capital raising just months after its IPO. Pointsbet debuted on the ASX in mid June 2019 after it raised $75 million at an offer price of $2.00 per share. Four months later, the company raised another $122.1 million to support product development, US business development, marketing and client acquisition.  

Proposed partnership agreement 

Along with the capital raising, Douugh today announced a proposed partnership agreement with a leading full service payments company. An example of a classic leading full service payments company that many ASX fintech companies have partnered with is PayPal.

More reading

• Why Douugh, Mirvac, Oil Search, & Westpac shares are charging higher
• Douugh (ASX:DOU) share price on the move again. Here’s why
• Why the Douugh (ASX:DOU) share price is storming 16% higher today
• Here are the 3 best performing IPO shares in 2020

Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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.

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The Magnis Energy Technologies Ltd (ASX: MNS) share price is rising today. This comes after the company announced that a three-party MoU has been signed for its ‘big battery’ project. At the time of writing, the Magnis share price is up 5.7% to 18.5 cents. In comparison, the All Ordinaries Index (ASX: XAO) is down 0.4% to 6,820 points.

What’s moving the Magnis share price higher

The Magnis share price is on the move today after the company announced a tripartite collaboration between Magnis, The University of Newcastle (UoN) and Fletcher International Exports to deploy a battery at Fletcher’s Dubbo meat processing facility. 

The project, due to commence in mid-2021, will see the battery transported from the company’s New York inventory. From there, the 2.2 MWh ‘plug and play’ battery will be installed using the best possible option for integration.

An R&D program overseen by the UON’s Institute of Energy and Resources will seek to explore cost and efficiency gains. In addition, the project may include renewable energy inputs to further enhance its operational power profile. Magnis noted that Fletcher has struggled to improve its energy use due to prohibitive costs and risk of disruption to its operations.

Management commentary

Deputy Prime Minister, The Hon. Mr Michael McCormack, welcomed the partnership by saying:

It is good to see the agriculture sector working closely with some of our brightest minds to develop new technology that will help the $31 billion industry grow.

Further to his comments, UoN’s deputy vice chancellor, research and innovation, Professor Janet Nelson added:

This partnership will provide the pathways for industry partners of O2N to tap into the expertise and multidisciplinary capabilities of the University’s researchers, specialised equipment and infrastructure.

Our aim is to have our researchers and students integrated with local industry, building on regional successes and unique attribute to drive innovative outcomes for these key sectors.

Lastly, Magnis executive chair Mr Frank Poullas said:

Agreements like these are a vital element in the company’s strategic plan to expand Lithium-ion battery cell offtake partnerships, as production in New York and then our plans for Australian manufacturing scales up.

About the Magnis share price

Over the past six months, the Magnis share price has risen more than 140% to its current level of 18.5 cents. Although the short-term picture appears rosy, looking at a larger time period, the Magnis share price is down 43% across the past two years.

More reading

• Why is the Douugh (ASX:DOU) share price in trading halt today?
• Why Air NZ, Bega Cheese, Fisher & Paykel Healthcare, & Galaxy are pushing higher
• Maggie Beer (ASX:MBH) is brewing up some solid support
• The Orcoda (ASX:ODA) share price has rocketed up 24% today. Here’s why.
• Why investors should look beyond ASX shares for outsized gains

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.

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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to end the week with a day in the red. At the time of writing, the benchmark index is down 0.55% to 6,600.3 points.

Four shares that haven’t let that hold them back today are listed below. Here’s why they are pushing higher:

Air New Zealand Limited (ASX: AIZ)

The Air New Zealand share price is up over 2% to $1.76. This morning the airline operator announced that it has been awarded four months of additional cargo flights under the New Zealand Government’s International Air Freight Capacity (IAFC) scheme. This comes after the government announced Phase Two of the IAFC scheme which runs from 1 December 2020 through to 31 March 2021.

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price has surged 8% higher to $5.48. This follows the completion of its institutional placement and the institutional component of its entitlement offer. Bega Cheese raised $284 million at a 9.1% discount of $4.60 per new share. These funds will be used to acquire Lion Dairy & Drinks for $534 million. This will add popular brands such as Dare, Farmers Union, Yoplait yoghurts, Pura milk, and Juice Brothers juices to its portfolio.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price is up 2.5% to $31.55. This could be in response to a broker note out of Goldman Sachs. Its analysts were impressed with the medical device company’s half year results. The broker retained its buy rating and bumped its price target higher to $37.60. Goldman notes that high-flow therapy continues to build momentum and it sees an attractive penetration runway ahead.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price has jumped 7.5% higher to $2.10. Investors have been buying the lithium miner’s shares after it successfully raised a total of $124 million from institutional investors at $1.70 per new share. The proceeds from the offer will be applied to Sal de Vida Stage 1 and fund pre-development activities to progress James Bay to a construction ready status.

More reading

• ASX 200 down 0.35%: Bega Cheese jumps, Flight Centre & Webjet tumble lower
• Bega Cheese (ASX:BGA) share price jumps 10% on Lion Dairy & Drinks acquisition
• 5 things to watch on the ASX 200 on Friday
• ASX 200 falls on Thursday
• Top brokers name 3 ASX shares to sell today

Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. 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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Maggie Beer Holdings Ltd (ASX: MBH) is a company you might not have heard of. But I’m sure the eponymous name gives it away regardless. Maggie Beer is a famous Australian chef, perhaps best known for her appearances on television shows like Masterchef, or from the self-branded range of foods and kitchen products.

But it’s not just this chef that’s been cooking up a storm lately. Maggie Beer Holdings is the company behind Maggie Beer (the chef). It grew it out of a small shop that accompanied one of Ms Beer’s restaurants back in the 1970s. But today, it is the company behind the product range described above, as well as a growing stable of supplementary brands, such as Paris Creek Farms and Saint David Dairy.

That’s despite it only changing its name to Maggie Beer Holdings in July this year (it was formerly known as ‘Longtable Group’). It has done very well in 2020 too, rising more than 158% in value since the start of the year. Maggie Beer Holdings is currently (at the time of writing) trading at 45 cents a share.

Investors tap the keg at Maggie Beer

And clearly, investors have noticed. According to reporting in the Australian Financial Review (AFR) this week, Maggie Beer Holdings is attracting a lot of attention as an investment, even though Ms Beer no longer owns a substantial stake in the company (despite still being a director). The AFR reports that Ms Beer and her husband sold their remaining 52% stake in the company last year. But that hasn’t stopped other investors taking up the slack.

The AFR reports that fund manager Ellerston Capital has become a major shareholder in the company. Ellerston has reportedly built a rough 7.2% stake in Maggie Beer Holdings after picking up 5 million shares earlier this week.

But Ellerston is not the only large-scale investor either. The AFR also reports that Geoff Wilson, of Wilson Asset Management (WAM), has also ‘got on the Beer’ in 2020. Wilson (in a private capacity, rather than through a WAM company) has reportedly racked up a 7.6% stake in the company of his own, through his private company Dynasty Peak Pty Ltd. That stake is worth more than $6 million on today’s prices.

It appears Mr Wison’s timing was impeccable. The AFR reports that Maggie Beer Holdings reported sales growth for the first quarter of FY2021 of 19% at its annual general meeting last week. It also reported that the Maggie Beer brand enjoyed sales growth of 24% over the same period.

The Paris Creek Farms range is apparently in the black now as well, after previously being a money loser. The company also recently made headlines for inking a deal with Coles Group Ltd (ASX: COL). Coles is now stocking a range of plant-based meals from Maggie Beer, which the markets welcomed at the time.

More reading

• Why Air NZ, Bega Cheese, Fisher & Paykel Healthcare, & Galaxy are pushing higher
• The Orcoda (ASX:ODA) share price has rocketed up 24% today. Here’s why.
• Why investors should look beyond ASX shares for outsized gains
• Why the Helloworld (ASX:HLO) share price is sinking lower today
• ASX 200 down 0.35%: Bega Cheese jumps, Flight Centre & Webjet tumble lower

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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 Orcoda Ltd (ASX: ODA) share price has rocketed up 24% to 21 cents on news the company will acquire transport services business Betta Group of Companies (BGC). The $5 million acquisition will be completed as a combination of securities and cash. 

Why is Orcoda buying BGC

BGC is a private transport services business specialising in contracting rail, road, air infrastructure power services, as well as mining projects. The company’s strong client base includes Aurizon, Ergon Energy, Queensland Rail, PowerLink, Q-Build, Australian Defence Force, and the Bowen Basin mining industry.

Orcoda said that BGC was a “good complementary fit” that would help to significantly bolster its bottom line.

In addition, BGC was likely to grow further, especially in Central Queensland, given the significant government stimulus it was expected to receive due to its ‘essential services’ status in major infrastructure projects. BGC’s key transport services business would also be a major revenue earner when the companies consolidated.

Orcoda advised that BGC achieved $9 million revenue, and earnings before interest, tax, depreciation, and ammortisation (EBITDA) of $2.1 million in FY 2020. In comparison, Orcoda’s full year revenue for FY20 was $1.2 million.

A brief look at Orcoda

Orcoda (formerly SmartTrans Holdings Limited) is a transport and logistics company. It focuses in business efficiency and optimisation through the use of software technology.

The company announced a significant customer win in July, signing a nine-year contract with the Mt Buller Ski Resort in Victoria. That contract comprised a five-year term, plus two additional two-year options. Under the arrangement, Orcoda will provide guest transit services and ride-share services to Mt Buller Ski Resort customers during the annual ski seasons.

The contract is expected to generate around $2–$3 million revenue per annum. And if it runs the full 9-year term, contract revenue value is estimated to be between $20 million and $30 million.

About the Orcoda share price

The Orcoda share price has experienced volatility in 2020. It started the year at a price of 22 cents, before slumping to 9 cents in March. The share price has since recovered along with the general improvement in the economy. Orcoda’s share price was trading as high as $4.60 back in 2015. At the current price of 21 cents, the company holds a market value of $20 million. 

More reading

• Why investors should look beyond ASX shares for outsized gains
• Why the Helloworld (ASX:HLO) share price is sinking lower today
• ASX 200 down 0.35%: Bega Cheese jumps, Flight Centre & Webjet tumble lower
• This expert thinks the oil price could surge to US$196 a barrel in 2021
• Why has the PointsBet (ASX:PBH) share price gone nowhere since August?

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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Yesterday I penned an article noting 3 reasons the S&P/ASX 200 Index (ASX: XJO) is likely to join US indexes to hit its own new record highs.

Although the ASX 200 slipped yesterday, and is down 0.5% in late morning trading today, that positive outlook certainly remains true.

However, while there are plenty of great performing shares on the ASX you should have in your portfolio, today I want to stress the importance of looking beyond the local markets. Specifically, to US markets.

Why you shouldn’t limit yourself to ASX shares

Let’s look at the relative performance of the Aussie and US markets first.

Over the past 12 months the ASX 200 is down 3.4%. Over 5 years it’s up 27.2%.

Over the past 12 months the S&P 500 Index (INDEXSP: .INX) is up 15.1%. Over 5 years it’s up 73.7%.

The tech-heavy Nasdaq Composite (INDEXNASDAQ: .IXIC) has performed even better. Over the past 12 months the Nasdaq is up 38.9%. Over 5 years it’s up 135.9%.

Have another look at those returns. A picture may paint a thousand words, but these figures speak for themselves.

Tremendous benefits

Scott Phillips, the Motley Fool’s chief investment officer in Australia, has had great success investing in ASX shares. But he’s also a strong proponent of investing internationally, particularly in US share markets.

Here’s an excerpt from an article he wrote for his investment service, Share Advisor, in April 2019:

Investing internationally delivers tremendous portfolio diversification benefits and brings a world of opportunities to your investment doorstep…

The fact of the matter is — some of the very best companies on planet Earth aren’t listed on the ASX. The Australian share market is a minnow on the global stage. Our share market represents a tiny 2% of global stock markets. If you exclude our two big miners and four large banks, that falls to almost 1%…

By investing part of your funds internationally you not only increase the opportunity to find the big winners of tomorrow, but you also reduce the risks that are specific to Australia. Risks that could seriously damage your portfolio.

Most online brokers these days offer you relatively inexpensive (and sometimes free) access to trading US shares.

You should be aware of the additional risks, though, chiefly currency fluctuations. If you invest in US shares and the Aussie dollar appreciates against the greenback, this will negatively impact your returns. Of course, if the Aussie dollar falls in value against the US dollar, it will boost those returns.

Why Bank of America and Blackrock are bullish on US shares

As the Australian Financial Review reports, Bank of America Corp (NYSE: BAC) is bullish for the outlook of US shares.

Noting that risks remain around the delivery of COVID vaccines and the potential for lengthier global lockdowns, the bank forecasts that a 5% increase in the S&P 500 from its Wednesday close is a conservative estimate:

[A] few themes support stocks: the S&P 500 dividend yield is three times the 10-year yield, and S&P 500 dividends are set to increase in 2021. And unlike bond yields, earnings are nominal and participate in inflationary upside – where inflation risks may be running higher, given rampant money-printing and a potential post-vaccine spike in demand…

Technology and Health Care offer neglect and growth at a reasonable price. We are underweight Staples, Real Estate and Comm. Services which represent past leadership, in our view, of bond-proxies and secular growth. We prefer small to large amid expectations for a strong US economic recovery.

BlackRock Investment Institute is also optimistic on the outlook for US shares, saying investors should look beyond the current volatility.

According to Mike Pyle, global chief investment strategist at BlackRock (quoted by Bloomberg):

We upgrade U.S. equities to overweight, expecting this market to benefit from both structural growth trends and a potential cyclical upswing during 2021. Positive vaccine news reinforces our outlook for an accelerated restart during 2021, reducing risks of permanent economic scarring.

BlackRock stated that apart from the mega-cap tech stocks, there are also semiconductor and software companies with strong growth trends that face few regulatory risks.

2 outperforming US shares with a ‘buy’ rating

We leave off today with a look at 2 outperforming shares Scott Phillips has previously recommended to the members of Share Advisor. Though they’ve posted strong gains since his recommendations, Scott maintains a ‘buy’ rating on both.

First up is Trade Desk Inc (NASDAQ: TTD). The company helps advertisers place programmatic ads across the web, on mobile, and in other places.

Scott recommended Trade Desk on 19 July 2019. His reasons to buy included the company’s innovative business model’s success at winning and keeping customers, its treasure trove of data to help clients, and its fast growing and scalable business.

Since Scott recommended it, the Trade Desk share price has rocketed 266.4% higher.

Today’s second outperforming US share is Match Group Inc (NASDAQ: MTCH). The company owns more than 40 separate online dating platforms including Tinder.

Scott recommended Match Group on 18 June 2020. His reasons to buy included the company’s impressive history of growth, the fact that Tinder continues to lead the way among dating apps, and that Match Group had plenty of room to grow profitability.

The Match Group share price is up 60.6% since 18 June.

At risk of being repetitive, when it comes to looking beyond ASX shares, these figures speak for themselves.

More reading

• Why fund manager optimism is at almost 3-year highs

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 The Trade Desk. The Motley Fool Australia has recommended The Trade Desk. 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 Helloworld Travel Ltd (ASX: HLO) share price has come under pressure on the day of its annual general meeting.

In early afternoon trade, the travel booking company’s shares are down over 3.5% to $2.95.

Why is the Helloworld share price dropping lower?

Today’s decline appears to have less to do with its annual general meeting and more to do with a piece of COVID-19 vaccine news.

Fellow travel bookers Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB) have also come under pressure today after concerns were raised with the data from the AstraZeneca COVID-19 vaccine candidate.

Last week, that data showed that when trial participants were given a half dose, followed by a full dose at least one month apart, the vaccine was 90% effective. Whereas, when given as two full doses at least one month apart, the vaccine showed just 62% efficacy.

Overnight, the UK-based pharmaceutical giant revealed that the more effective dosage was actually administered by accident and due to a manufacturing error.

It also came to light that the more effective dosage was given only to a lower risk group, which sparked fears that it may not be as effective against higher risk individuals.

In light of this, AstraZeneca looks set to have to undertake another clinical trial to prove its efficacy, which could push back its launch date.

What about the Helloworld AGM?

Given that Helloworld only recently released its first quarter update, there wasn’t much new information released with its presentation.

Management continues to expect FY 2021 to be a tough year and looks forward to a big improvement in the following financial years.

It commented: “The remainder of this financial year will continue to be challenging and we will continue to incur underlying EBITDA losses in the vicinity of $1.5-$2 million per month at least until the fourth quarter of FY21 however depending upon what other international bubbles may have opened up by then we’re hopeful that we would be close to a break even position by the last quarter of the current financial year.”

“Beyond that and looking forward into FY22, given the recent extraordinary success of the vaccine trials it is not unreasonable to assume the rest of the world will start to open up throughout the second half of 2021 and into the first half of 2022 and while we do not believe things will return to their previous levels in FY22 they will certainly continue to get better and better and we’re hopeful that FY23 will see a return to our previous TTV and revenue levels,” it added.

More reading

• ASX 200 down 0.35%: Bega Cheese jumps, Flight Centre & Webjet tumble lower
• CBA and Zip were among the most traded shares on the ASX last week
• Why the Webjet (ASX:WEB) share price is soaring 6%
• Why Origin, Qantas, Webjet, & Westpac shares are storming higher
• ASX stock winners from the $23 billion Victorian state budget

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

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At lunch on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a day in the red. The benchmark index is currently down 0.35% to 6,613 points.

Here’s what is happening on the market today:

Bega Cheese share price jumps.

The Bega Cheese Ltd (ASX: BGA) share price is jumping higher today after completing its institutional placement and the institutional component of its entitlement offer. Bega Cheese has raised approximately $284 million at a 9.1% discount of $4.60 per new share. The proceeds will be used to acquire Lion Dairy & Drinks for $534 million. This bolsters its portfolio with milk-based beverages such as Dare and Farmers Union, Yoplait yoghurts, Pura milk, and Juice Brothers juices.

Travel shares tumble.

A number of travel shares such as Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB) are tumbling lower on Friday. This is after concerns were raised with the data from the AstraZeneca COVID-19 vaccine candidate. This follows news of a manufacturing error which led to half doses being given to a certain group. As this group is filled with under 55s and therefore lower risk, there are concerns that the vaccine may not be as effective for higher risk individuals. Another trial is expected to be undertaken to prove its efficacy.

Energy shares drop.

Energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) have come under pressure today after oil prices pulled back. According to Bloomberg, overnight the WTI crude oil price dropped 1.6% to US$44.99 a barrel and the Brent crude oil price dropped 1.8% to US$47.73 a barrel. The S&P/ASX 200 Energy index is down 1.5% at the time of writing.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Friday has been the Bega Cheese share price with an 8% gain. Investors have responded positively to its plan to acquire Lion Dairy & Drinks for $534 million. The worst performer on the index has been the Webjet share price with a 4.5% decline due to the COVID vaccine news.

More reading

• Why the Helloworld (ASX:HLO) share price is sinking lower today
• This expert thinks the oil price could surge to US$196 a barrel in 2021
• Bega Cheese (ASX:BGA) share price jumps 10% on Lion Dairy & Drinks acquisition
• ASX 200 expected to drop lower amid COVID-19 vaccine concerns
• 5 things to watch on the ASX 200 on Friday

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

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