The S&P/ASX 200 Index (ASX: XJO) is going bananas today – there’s no other word for it (well, polite enough to publish that is).

At the time of writing, the ASX 200 is up another 2.51% to 6,149 points – smashing through the 6,000-point mark once again after last week’s dalliance.

ASX investors might now be wondering if this rally is getting a little overheated, especially if you consider the ASX 200 has added more than 12% in just the last month.

But one analyst is predicting this could just be the start of a new rally.

Dale Gillham, chief analyst of Wealth Within has just told the Australian Financial Review (AFR) that he expects the ASX 200 to continue to power ahead in the coming weeks.

The AFR quotes Mr Gillham as stating:

I expect the [Australian] market to continue to rise over the next few weeks into mid to late June, although there is a possibility it could continue to rise into July… There is some short-term resistance around 6200 points, however, I believe the market will most likely move through this to the next level of resistance at around 6600 points over the next two weeks.

This comes after markets around the world take off after their shellacking in March. The US Nasdaq index hit all-time highs overnight (yes, you read that right). Meanwhile, late last week the Dow Jones Industrial Average crashed through the 27,000 points mark for the first time since early March.

Back home on the ASX 200, we are now at levels we saw in early 2019 – and before that just prior to the global financial crisis back in 2007.

What’s next for ASX 200 shares?

If Mr Gillham is right, we look set to enjoy a fantastic few weeks on the ASX boards. An ASX 200 at 6,600 points would represent a further upside of another 7.3% for ASX shares.

Whilst this is obviously good news for investors, I am starting to get worried that the ASX 200 is becoming even further detached from reality. Yes, the threats from the coronavirus pandemic seem to be receding. But the damage the economy will sustain is still vast – and the true extent of this damage is not completely clear right now.

The ASX 200 is pricing in a rapid recovery. I think the heights of the ASX 200 might be questioned down the road if nothing short of a flawless return to a pre-coronavirus level of economic activity takes place.

But for now, let’s all enjoy the rampant bull market and keep our fingers crossed that I’m being too pessimistic!

More reading

• What 2020 has taught us about investing
• Leading brokers name 3 ASX 200 shares to buy today
• Flight Centre share price and other ASX 200 travel shares look set to continue rising
• Will ASX 200 shares hit a record high in June?
• ASX 200 jumps 2.5%: Big four banks surge higher, CSL announces an acquisition

Motley Fool contributor Sebastian Bowen 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 “new normal” of remote working has brought about a change in the types of service businesses require. It is out with the old world of physical infrastructure and hardware and in with the new world of cloud computing and software-as-a-service (SaaS). For many businesses and corporations, this pandemic could have long-lasting implications for how their people work. But ASX growth companies, Dubber Corp Ltd (ASX: DUB), LiveTiles Ltd (ASX: LVT) and ELMO Software Ltd (ASX: ELO) are helping businesses adapt to these new working environments.

Dubber 

Cloud-based call recording software developer, Dubber has seen its share price surge in recent weeks. Despite plunging to a 52-week low of $0.38 in late March,  Dubber’s shares have rebounded over 200% to $1.215 at the time of writing. This is fuelled, in part, by recent news that it is acquiring Australian call recording company, CallN.

Dubber uses AI technology when helping corporate clients analyse voice data to deliver business insights and improve customer service. Being cloud-based, the company’s SaaS model doesn’t rely on physical hardware. This means it has quickly adapted to the paradigm shift in working conditions caused by the coronavirus pandemic.

In the March company update, Dubber reported quarter-on-quarter revenue growth of almost 9% to $2.61 million. Dubber is experiencing record demand for its services as more companies transition to remote working arrangements.

LiveTiles

Long-undervalued LiveTiles is another cloud-based software company primarily servicing corporate and government sectors. It specialises in the development of collaborative digital working environments such as company intranet portals and homepages.

The LiveTiles share price has also staged a strong recovery since hitting a 52-week low of $0.11 in mid-March. Its shares have surged 150% to $0.275 as at the time of writing. But, while that is a solid rebound, its shares are still trading well-short of the $0.60 52-week high struck in July 2019. This means there’s still room to offer significant value for new investors.

LiveTiles has developed a strong relationship with international technology and software behemoth, Microsoft Corporation (NASDAQ: MSFT). The company has developed a number of programs designed to work with Microsoft Teams; Microsoft’s online collaboration and communication platform. Microsoft Teams is the fastest-growing application in its history. This growth has been accelerated during the COVID-19 pandemic with many corporations using the software from home offices.

In LiveTiles latest quarter update, it reported 60% year-on-year growth in annualised recurring revenues to $55.2 million. Cash receipts were also up 109% to $10.9 million for the quarter.

ELMO Software

After surging from a 52-week low of $3.66 in late March to be back up at $8 by early May, ELMO shares have come off the boil recently. Over the last month, shares slide almost 15% and are currently trading at $6.48.

The company’s share price originally surged with the news of completing a $70 million capital raising. The company stated that the placement, which closed oversubscribed, would finance a pipeline of acquisitions and growth opportunities. ELMO reaffirmed its full-year guidance for total revenues of between $50 million and $52 million.

Elmo Software develops human resources and payroll solutions for business clients. Its suite of software helps manage the full employee lifecycle from recruitment and onboarding through to performance management, professional development, remuneration and succession planning. Its cloud-based SaaS business model is well-suited to supporting businesses adopting remote working arrangements.

More reading

• 3 small cap ASX tech shares that could be stars of the future
• 2 exciting small cap ASX shares that could have big futures
• 5 exciting small cap ASX shares to watch in June
• Are these exciting small cap ASX tech shares the next Afterpay?
• 3 under the radar ASX tech shares to watch

Rhys Brock owns shares of Dubber Ltd, Elmo Software, and LIVETILES FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Elmo Software. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of LIVETILES FPO. The Motley Fool Australia has recommended Elmo Software and LIVETILES 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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This week Air New Zealand Limited (ASX: AIZ) CEO Greg Foran released an announcement regarding the airline’s future. It seems as though this update has had a significant effect on the Air New Zealand share price. Foran outlined a plan for the next 800 days and detailed what is to take place for the airline to “survive, then revive and finally thrive”, as he put it. 

Why did the Air New Zealand share price jump today?

The main reason for today’s Air New Zealand share price increase comes from the cost-cutting outlined in the CEO’s announcement. The airline’s survival plan will run until August 2022 and will include additional staff cuts to the 4,000 who have already been laid off. The market has responded positively to news that the CEO aims to cut its wages bill by NZ$150 million.

In addition to staff cuts, the airline has deferred expenditure on new aircraft, hangars and parking. It has also sought savings on supply contracts, leases, executive roles, office space and company vehicles. Mr Foran added that Air New Zealand is “leaving no stone unturned” when it comes to cutting costs. 

The company’s revive phase, which is planned to begin from 1 September, will see a much smaller airline working to recover from the recent coronavirus crisis. Come the 800-day mark the business will enter its “Thrive stage” where digital operations will become a core focus.  The report states that during this phase of the plan, “We will be a digital company that monetises through aviation and tourism in a very sustainable manner.”

“This will be a time where our customers, stakeholders, shareholders and all Air New Zealanders benefit from the hard work and innovation of the survive and revive phases of our journey.”

The Air New Zealand share price is up 126.88% today from its 52-week low of $0.80. 

More reading

• ASX airline share braces for FY20 loss and significant charges
• Is it too early to buy Webjet shares?
• 5 things to watch on the ASX 200 on Tuesday
• Why Flight Centre and Webjet shares are zooming higher today
• 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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Although you may not have guessed it judging by the recent performance of the S&P/ASX 200 Index (ASX: XJO), the economy is about to enter a significant recession. Which means that – in a rational world – another ASX 200 correction could be on the horizon. And whether or not you think we live in a rational world, the jury seems to still be out on that one. However, surely we can all agree that it wouldn’t hurt to start protecting your portfolio against short-term volatility in the share market.

So, with that in mind, here are 3 ASX 200 financial services companies with diverse income streams. These have the possibility of providing your portfolio with downside risk protection coupled with strong, long-term growth potential.

Bravura Solutions Ltd (ASX: BVS)

Bravura Solutions is a software company specialising in wealth management, financial services and funds administration. Its flagship product is Sonata, a scalable software solution for the wealth management industry. The company has grown rapidly over the last few years and now also has a full suite of products supporting the insurance and superannuation industries as well as other areas of the financial sector.

In the last year alone, Bravura has acquired financial planning software company Midwinter, as well as wealth management company FinoComp. The company’s first half FY20 net profit after tax (NPAT) surged 21% higher against 1H19 to $19.8 million. Furthermore, 78% of its total revenues were from recurring sources. Bravura expects its full year NPAT growth rate to be in the mid-teens.

Despite sliding 5.6% lower last week to $4.58, Bravura shares have risen to $4.71 in morning trade today. The Bravura share price has also held up surprisingly well during the coronavirus pandemic. After dropping to an intraday low of $2.92 on 23 March, Bravura shares have since recovered a significant portion of those losses. However, they are still trading well short of the $5.98, 52-week high they reached back in February.

Challenger Ltd (ASX: CGF)

ASX 200 investment management company Challenger is Australia’s largest provider of annuities. Challenger supports individuals throughout retirement by providing products that deliver stable income streams. Volatility in the financial markets caused by the coronavirus pandemic could potentially increase demand for the stability of fixed annuity products. However this also has the potential to hurt Challenger’s funds management business.

This was reflected in Challenger’s performance for the March quarter, which was a bit of a mixed bag. Sales were buoyed by an uptick in the Japanese and Institutional markets. But total assets fell 8% to $79 billion due to the broad market selloff that occurred back in March. Despite this, Challenger still reaffirmed its full year guidance for normalised net profit after tax of between $500 million and $550 million. This would represent year-on-year growth of between 26% and 39%.

Given the fact that Challenger shares are still currently trading at nearly 50% off their pre-coronavirus highs, they could offer a great – if speculative – ASX 200 investment opportunity for new shareholders.

ASX Ltd (ASX:ASX)

Despite a topsy-turvy year for the ASX 200, the share price of the market operator has climbed to new highs. After sliding to a low of $63.02 in mid-March, ASX shares have rebounded strongly. Last week, they even briefly touched a new 52-week high of $89.92.

Although new IPOs have dropped significantly over the last few months, secondary capital raisings have skyrocketed as companies seek to strengthen their balance sheets. For May, secondary capital raisings were up 151% versus May 2019 to a little over $7.5 billion. Trading activity has also been increasing, with the average daily value traded on the market for May up 33% versus the prior comparative period.

The fact that the total number of listed entities on the ASX is declining (down to 2,195 from 2,266 as at May 2019) is a concern for the operator. But it benefits from the income generated by facilitating higher trading volumes and capital raisings.

With the potential for more market volatility around the corner as Australia enters its first recession in 29 years, another correction in the ASX share price could be looming. However, it has proved itself to be a surprisingly defensive stock to have in your portfolio throughout the coronavirus crisis.

More reading

• Why I’d buy Appen and these ASX growth shares for the 2020s
• Could these ASX shares be the future dividend stars that make you rich?
• Top brokers name 3 ASX 200 shares to sell next week
• What ASX shares should you invest in during a bull market?
• 3 defensive ASX shares for a potential September sell-off

Rhys Brock owns shares of Bravura Solutions Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool Australia has recommended Bravura Solutions 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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With so many shares to choose from on the S&P/ASX 200 Index (ASX: XJO), it can be hard to decide which ones to buy.

The good news is that brokers across the country are doing a lot of the hard work for you.

Three top shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

BlueScope Steel Limited (ASX: BSL)

According to a note out of Goldman Sachs, its analysts have upgraded this steel producer’s shares to a buy rating with an increased price target of $14.95. The broker made the move after steel spreads improved in Asia and North America. Goldman expects these improvements to continue over the coming months as supply and demand begins to rebalance again. Especially given increasing demand in Australia following additional government stimulus in the construction sector. While it isn’t a company that I’m a big fan of, I think the broker makes some great points.

BWP Trust (ASX: BWP)

Analysts at Ord Minnett have upgraded this property company’s shares to a buy rating and lifted the price target on them to $4.40. The broker notes that funds are flowing back into the property sector and is recommending investors look at companies with long leases. It believes these are undervalued in comparison to others in the sector. BWP ticks a lot of boxes for the broker, hence its upgrade to buy this morning. I agree with Ord Minnett and would be a buyer of BWP’s shares.

Healius Ltd (ASX: HLS)

A note out of the Macquarie equities desk reveals that its analysts have upgraded this healthcare company’s shares to an outperform rating with an improved price target of $3.00. Macquarie believes that Healius won’t be impacted by the pandemic as much as previously expected. It also feels the company is well-placed to benefit from an increase in activity in the near term. In addition to this, it appears to see the potential divestment of its medical centres as a positive. While not my favourite option in the healthcare sector, I think Healius is still worth a closer look.

More reading

• Flight Centre share price and other ASX 200 travel shares look set to continue rising
• Will ASX 200 shares hit a record high in June?
• ASX 200 jumps 2.5%: Big four banks surge higher, CSL announces an acquisition
• Why Bendigo and Adelaide Bank, BWP, G8 Education, & Westpac are zooming higher
• 2 ASX 200 biotech shares to consider buying today

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 LBT Innovations Limited (ASX: LBT) share price is storming higher today after the company announced the achievement of a milestone in the United States.

At the time of writing, LBT Innovations shares last changed hands at 15.5 cents, representing a gain of 10.71%. This takes the company’s current market capitalisation to around $36 million – so we’re very much at the smaller end of the ASX here.

About LBT Innovations

LBT Innovations is a designer of advanced technology solutions for the medical industry. Its core capabilities include artificial intelligence (AI), image analysis, and software engineering solutions that improve medical diagnostic workflows.

The company’s first product, MicroStreak, was a world-first in the automation of the culture plate streaking process. Its second product, the Automated Plate Assessment System (APAS), is currently being commercialised through a 50%-owned joint venture company.

According to LBT, the APAS instrument is the only US FDA-cleared AI technology for automated imaging, analysis and interpretation of culture plates following incubation.

Why the LBT Innovations share price is spiking

This morning, LBT announced the first sale of an APAS Independence instrument in the US to Hennepin County Medical Centre (HCMC).

The sale of the APAS Independence has been completed following the installation of the middleware driver for APAS, which connects the instrument to HCMC’s information management system. This, in turn, enables the automated reporting capability of the APAS technology. 

The APAS driver was developed by Data Innovations and has been successfully interfaced by HCMC. It is now in a testing and validation phase prior to the expected routine clinical use of the urine analysis module.

HCMC is a medium-sized clinical laboratory that provides a full range of diagnostic testing and reporting services. It processes approximately 500 specimens a day, including 300 urine plate analysis.

According to the announcement, the centre has purchased the APAS Independence to support its daily culture plate workflow. With this, HCMC has entered into an annual software license for the FDA-cleared urine analysis model and a 5-year service agreement.

Commenting on the collaboration, HCMC’s director of microbiology, Dr Glen Hansen, said:

“The ability for us to automate the reading of our culture plates with the APAS Independence has increased the work efficiency through the laboratory and has motivated staff who now have more time for other activities.”

Meanwhile, LBT CEO and managing director Brent Barnes said:

“We are thrilled for HCMC to be the site of our first APAS sale in the United States given their status and reputation which will no doubt help provide further commercial validation. Dr Hansen has been a great advocate for the technology and the purchase reflects the positive impact the technology has had within their lab. We continue to work hard with other laboratories in the region as we look to target further U.S. commercial sales.”

More reading

• Leading brokers name 3 ASX 200 shares to buy today
• Flight Centre share price and other ASX 200 travel shares look set to continue rising
• CSL share price drops lower despite announcing a new acquisition
• Are the Rio Tinto, Fortescue and BHP share prices a buy right now?
• Brainchip share price rockets 42% after signing agreement with tier 1 automotive supplier

Motley Fool contributor Cathryn Goh 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 Flight Centre Travel Group Ltd (ASX: FLT) and other travel-related shares have soared in recent weeks. Many investors may think these shares have raced past fair value given current travel restrictions and recession woes. I believe the forward-looking nature of the markets, combined with the unprecedented stimulus, could see the Flight Centre share price and other S&P/ASX 200 Index (ASX: XJO) and All Ordinaries (ASX: XAO) travel shares push higher. 

Lean and cashed-up businesses 

The likes of Flight Centre, Webjet Limited (ASX: WEB) and Corporate Travel Management Ltd (ASX: CTD) reacted quickly to COVID-19. The companies promptly scaled-back capital expenditure, reduced headcount and raised capital to keep business alive. 

Corporate Travel Management has a very capital-light model. Over 70% of its costs are people-related and 50% of the remaining costs are variable. It has a small physical footprint and has the flexibility to hibernate its business. Its pre-COVID-19 business conditions also saw domestic travel account for approximately 60% of group revenues. This may allow the business to benefit from reopening domestic borders. 

Webjet has implemented a broad range of interim business initiatives. These have included the deferral of its $12.2 million dividend payment for 1H20, over 440 redundancies and 4-day working weeks for the majority of its remaining staff. It recently raised a total of $275 million from an institutional placement and entitlement offer. This lifts the company’s cash and cash equivalents position from $58 million to $333 million. 

Likewise, Flight Centre opted to raise $700 million, a significant amount relative to its ~$1.5 billion market capitalisation back in April. But instead of the share price continuing to slump post-capital raise, Flight Centre is not far off doubling from its March lows and it’s up more than 28% in June alone. 

A slow recovery on the cards 

Webjet commented on China’s early signs of normalisation with hotel bookings leading into March surging 40% from the previous week. Peak daily bookings for domestic flights also soared 230% from the lowest level recorded in February. 

The Sydney Morning Herald reported that Qantas Airways Limited (ASX: QAN) “is preparing to scale up its domestic flying from its current 5 per cent of pre-pandemic levels to 40 per cent by the end of July, pending the reopening of state borders.”

Qantas CEO, Alan Joyce has also suggested there is pent-up demand for travel and the airline had already experienced a surge in intrastate bookings. 

This all spells good news for the Flight Centre share price and travel-related cohorts. I believe the market has largely priced-in the negative economic impact of the coronavirus. The travel industry recovery is imminent and consumers are eager for more than just crowded shopping centres and long queues. 

More reading

• Leading brokers name 3 ASX 200 shares to buy today
• Will ASX 200 shares hit a record high in June?
• ASX 200 jumps 2.5%: Big four banks surge higher, CSL announces an acquisition
• 2 ASX 200 biotech shares to consider buying today
• 3 ASX 200 shares to watch this week

Motley Fool contributor Lina Lim 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.

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The CSL Limited (ASX: CSL) share price has continued its poor form and has been unable to climb higher with the market on Tuesday.

This is even after the release of a promising announcement this morning.

At the time of writing the biotherapeutics company’s shares are down 2.5% to $277.99.

What did CSL announce?

This morning CSL announced that it has agreed to exercise its right to acquire clinical-stage biotechnology company Vitaeris.

Vitaeris is currently focused on the phase 3 development of a treatment for rejection in solid organ kidney transplant patients.

Both companies entered into a strategic partnership in 2017 to speed up the development of this program. This partnership included the option for CSL to acquire Vitaeris in full at a later date.

It has now exercised this option, which means Vitaeris’ research assets will now join CSL842 and CSL964 as part of CSL’s portfolio of products in late-stage development to address significant unmet needs in the transplant community.

What is Vitaeris’ treatment?

According to the release, Vitaeris’ lead phase 3 program is investigating the role that a monoclonal antibody called clazakizumab has in treating a naturally occurring inflammatory gene (interleukin6 or IL-6).

This inflammatory gene is the leading cause of long-term rejection in kidney transplant recipients.

CSL’s Executive Vice President and Head of Research and Development, Bill Mezzanotte, spoke positively about the acquisition.

He said: “Clazakizumab has been a promising monoclonal antibody in the Transplant therapeutic area since we started working with Vitaeris several years ago.”

“Acquiring Vitaeris and their associate expertise helps us to continue to grow our strategic scientific platform of recombinant proteins and antibodies. We look forward to continuing to advance this treatment candidate as a potential option for people experiencing rejection, an area where current treatment options for transplant recipients are limited, at best,” he added.

What now?

CSL notes that the cost of acquisition is modest and does not materially change its profit expectation for FY 2020.

The terms of agreement include sales-based milestones and the company will incur additional research and development expenses. These are associated with the completion of the phase 3 clinical trial.

In FY 2021, these additional expenses are estimated to be between US$30 million to US$50 million. While this might seem like a large expense, it isn’t in comparison to its overall research and development spend.

CSL traditionally spends in the region of 11% to 12% of sales on research and development activities. This led to the company pumping US$832 million into these activities in FY 2019.

More reading

• ASX 200 jumps 2.5%: Big four banks surge higher, CSL announces an acquisition
• Why CSL, Elders, Evolution, & Xero shares are dropping lower
• 2 ASX 200 biotech shares to consider buying today
• ASX 200 Weekly Wrap: ASX bulls crash through 6,000 points
• ASX shares could be the best way to grow your wealth in 2020

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 CSL Ltd. 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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