• Xi Jinping admits China is ‘relatively weak’ on innovation and needs more talent to dominate the tech ‘battlefield’

    Chinese President Xi Jinping attends the opening session of the CPPCC, or Chinese Peoples Political Consultative Conference, at the Great Hall of the People on March 4, 2024 in Beijing, China. (Photo by Kevin Frayer/Getty Images)
    Chinese President Xi Jinping is urging the country's scientists to innovate in the tech sector to face off against the West.

    • China's leader, Xi Jinping, is urging his country's scientists to innovate in the tech sector.
    • While praising China's progress overall, he also highlighted several pressing shortcomings in the country.
    • He said China's innovation was "still relatively weak," and had a shortage of top talent.

    China's leader, Xi Jinping, made several admissions of the country's shortcomings in its race to become the world's tech powerhouse, saying its innovation is "relatively weak" and that its scientists are overburdened.

    To be sure, Xi's remarks on Tuesday at a national conference in Beijing lauded China's science industries overall.

    But he also highlighted glaring challenges and pressed the country to focus on tech growth, which he said is now the "main battlefield of international competition."

    "Although the country's science and technology development has made great progress, its original innovation capabilities are still relatively weak," Xi said.

    Indeed, Xi mentioned innovation 55 times in his speech on Tuesday, emphasizing it while discussing artificial intelligence, quantum technology, biotech, and new energy.

    And China's tech breakthroughs are too scattered across various companies and sectors for Xi's liking, with him saying they suffer a "low degree of organization and coordination" that needs addressing.

    Core technologies are out of China's hands, Xi says

    Key to his push for innovation is the idea of China becoming self-reliant — a common theme across all of his ideologies — especially as tensions with the West grow.

    "The scientific and technological revolution and the wrestling between superpowers are intertwined," Xi said.

    While he did not name the US, Xi said it was clear China would have to fix how "some key core technologies are controlled by others."

    The comment comes as the US has threatened to expand sanctions on several Chinese chip firms linked to Huawei and blocked the sale of advanced semiconductors essential to developing artificial intelligence technology.

    Last week, the US Treasury Department labeled China a "country of concern" and proposed new rules to limit international investment in "the next generation of military, intelligence, surveillance or cyber-enabled capabilities that pose national security risks to the United States."

    Researchers still caught up in red tape

    Xi also raised a shortage of manpower and top talent in the tech and science spaces. Researchers were still complaining of "heavy non-academic burdens" like red tape with publishing papers, busywork in official reports, and asking for resources, he said.

    He added that China would have to "improve incentive systems" like better awards for science and tech and a more even wage system for employees and researchers.

    While the US has been in the middle of its own technological boom, thanks in part to giants like OpenAI, Nvidia, Amazon, and Microsoft, Business Insider previously reported that bosses in China's tech sector are upping the pressure on workers following the loss of around $1.3 trillion in market value by the country's top five tech companies since 2021.

    The Chinese government has been especially focused on developing artificial intelligence technology. BI previously reported that an April report by Microsoft indicated China-linked social media accounts plan to use AI-generated media to influence elections in the US.

    With all said on Tuesday, it's clear Xi wants China to not just be a major player in the tech space but to dominate it.

    "We must bolster our sense of urgency. We must go further with our efforts to innovate," Xi said. "To occupy the commanding heights of science and tech competition and future development."

    Read the original article on Business Insider
  • Here are the top 10 ASX 200 shares today

    A woman's hand draws a stylised 'Top Ten' on a projected surface.

    It was an unpleasant Wednesday for the S&P/ASX 200 Index (ASX: XJO) and most ASX shares this hump day. After enjoying a strong session yesterday, investors reversed course today.

    By the closing bell, the ASX 200 had lost a hefty 0.71% of its value, leaving the index at 7,783 points.

    This miserable day on the Australian stock market follows a mixed night up on Wall Street last night (our time).

    The Dow Jones Industrial Average Index (DJX: .DJI) had a day to forget, shedding 0.76% of its value.

    It was the opposite outcome for the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) though, which vaulted 1.26% higher.

    But returning to the Australian markets, it’s now time for a checkup of how the different ASX sectors went this Wednesday.

    Winners and losers

    It was a fairly negative day for ASX shares, with only a handful of sectors eking out a rise. More on those in a moment though.

    First up, the worst ASX sector today was gold shares. The All Ordinaries Gold Index (ASX: XGD) had an absolute shocker, plunging an awful 2.99%.

    Real estate investment trusts (REITs) also had an awful time, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) tanking 2.09%.

    Consumer discretionary stocks were left out in the cold as well. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) ended up cratering 1.46%.

    Financial shares weren’t riding to the rescue, as you can see from the S&P/ASX 200 Financials Index (ASX: XFJ)’s loss of 0.94%.

    Nor were industrial stocks. The S&P/ASX 200 Industrials Index (ASX: XNJ) parted ways with 0.82% of its value this Wednesday.

    ASX mining shares weren’t getting bailed out of too, evident from the S&P/ASX 200 Materials Index (ASX: XMJ)’s 0.58% retreat.

    Communications shares did slightly better, but the S&P/ASX 200 Communication Services Index (ASX: XTJ) still walked back by 0.36%.

    Consumer staples stocks were another sore spot. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) was sent 0.28% lower by market close.

    Healthcare shares suffered too, with the S&P/ASX 200 Healthcare Index (ASX: XHJ) slipping 0.24%.

    But that’s it for the losers.

    Leading today’s winners were tech stocks. The S&P/ASX 200 Information Technology Index (ASX: XIJ) was on fire today, rising a strong 0.77%.

    Energy shares also ran hot, illustrated by the S&P/ASX 200 Energy Index (ASX: XEJ)’s 0.53% gallop higher.

    The final winners were utilities stocks. The S&P/ASX 200 Utilities Index (ASX: XUJ) managed to enjoy a 0.25% bump today.

    Top 10 ASX 200 shares countdown

    Topping out the index this Wednesday was healthcare stock Polynovo Ltd (ASX: PNV). Polynovo shares ended up adding a healthy 6.61%, leaving them at $2.42 each.

    This strong rise came despite no obvious catalyst from Polynovo itself.

    Here’s a look at the remaining winners from this Wednesday’s session:

    ASX-listed company Share price Price change
    Polynovo Ltd (ASX: PNV) $2.42 6.61%
    Liontown Resources Ltd (ASX: LTR) $0.93 3.33%
    Neuren Pharmaceuticals Ltd (ASX: NEU) $20.86 3.17%
    Super Retail Group Ltd (ASX: SUL) $14.17 3.13%
    IGO Ltd (ASX: IGO) $5.91 2.96%
    Pilbara Minerals Ltd (ASX: PLS) $3.23 2.54%
    Strike Energy Ltd (ASX: STX) $0.235 2.17%
    Inghams Group Ltd (ASX: ING) $2.57 2.00%
    WiseTech Global Ltd (ASX: WTC) $95.96 1.98%
    Karoon Energy Ltd (ASX: KAR) $1.80 1.98%

    Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

    The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Igo Ltd right now?

    Before you buy Igo Ltd shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Igo Ltd wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PolyNovo, Super Retail Group, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Super Retail Group and WiseTech Global. The Motley Fool Australia has recommended PolyNovo. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Analysts name 3 ASX income stocks to buy now

    Happy couple enjoying ice cream in retirement.

    There are plenty of ASX income stocks out there for investors to choose from, but which ones could be in the buy zone right now?

    Three that analysts have recently named as buys are listed below. Here’s what they are saying about them:

    Cedar Woods Properties Limited (ASX: CWP)

    Morgans is a fan of this property company and thinks it could be an ASX income stock to buy now.

    Its analysts believe the company’s shares are undervalued and deserve to trade on higher multiples. Particularly given “CWP’s exposure to lower priced stock in higher growth markets sees further potential to drive earnings.”

    Morgans expects this to underpin dividends per share of 18 cents in FY 2024 and then 20 cents in FY 2025. Based on the current Cedar Woods Properties share price of $4.60, this will mean dividend yields of 3.9% and 4.35%, respectively.

    The broker has an add rating and $5.60 price target on its shares.

    Dexus Convenience Retail REIT (ASX: DXC)

    Another ASX income stock that Morgans is positive on is the Dexus Convenience Retail REIT. It owns a portfolio of service stations and convenience retail assets across Australia. This portfolio has a long lease expiry profile and contracted annual rent increases, which management expects to deliver a sustainable and strong level of income security.

    Speaking of which, Morgans is forecasting the Dexus Convenience Retail REIT to pay dividends per share of 21 cents in both FY 2024 and FY 2025. Based on its current share price of $2.79, this implies yields of 7.5%.

    Morgans has an add rating and $3.23 price target on its shares.

    IPH Ltd (ASX: IPH)

    A final ASX income stock that has been given the thumbs up by analysts is IPH.

    It is an international intellectual property (IP) services company with a network of member firms working throughout 10 IP jurisdictions and with clients in more than 25 countries. Among its customer base are Fortune Global 500 companies and other multinationals.

    Goldman Sachs is a fan of the company and sees it as a great option for investors right now. It is forecasting fully franked dividends of 34 cents per share in FY 2024 and 37 cents per share in FY 2025. Based on the current IPH share price of $6.30, this represents yields of 5.4% and 5.9%, respectively.

    The broker has a buy rating and $8.70 price target on IPH’s shares.

    The post Analysts name 3 ASX income stocks to buy now appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Cedar Woods Properties Limited right now?

    Before you buy Cedar Woods Properties Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Cedar Woods Properties Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended IPH. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • We live in a world where top Twitch streamer Kai Cenat got a therapist to help him beat a video game boss he was stuck on for over 60 hours

    Kai Cenat at The 2023 Streamy Awards held at the Fairmont Century Plaza Hotel on August 27, 2023 in Los Angeles.
    Kai Cenat at The 2023 Streamy Awards held at the Fairmont Century Plaza Hotel on August 27, 2023 in Los Angeles.

    • Twitch streamer Kai Cenat was so frustrated with a video game that he got a therapist on his stream.
    • He had been struggling for 60 hours to beat the final boss of "Elden Ring: Shadow of the Erdtree."
    • Cenat eventually beat the video game boss about six hours after the mental health session.

    Frustrated with his performance against a video game boss, Twitch streamer and YouTuber Kai Cenat went viral on Tuesday evening for bringing a therapist to his livestream to help process his emotions.

    Cenat, 22, was well into his 60th hour of fighting the final boss of the "Elden Ring: Shadow of the Erdtree" when Aubri Williams appeared in his streaming room.

    Williams, a full-time model who also provides counseling sessions, told Cenat that someone booked him an appointment with her, but did not say who.

    What ensued was a bizarre blend of two worlds. For half an hour, Cenat haphazardly talked through the mechanics of "Elden Ring" as Williams taught him to breathe, think positively, and envision the outcomes of him achieving his gaming goal.

    https://platform.twitter.com/widgets.js

    Cenat had been streaming his playthrough of the video game for a total of 92 hours, with six to seven hours of sleep interspersed between gaming sessions.

    "I've been on the last boss for the past 60 hours of my life that I can't get back," Cenat lamented. "And I'm trying everything, I went to get a new weapon, I went to go upgrade new stuff like my dexterity, my arcane, I dropped my faith, I got more strength. I've done so much."

    "Let's close our eyes for a sec," Williams said.

    "Oh, I got scared, I see Radahn again," Cenat said, referring to the final boss blocking his victory.

    Calming down and steeling his mind under Williams' guidance, Cenat played the boss fight again for her to observe.

    "When I win, I win," Cenat said. Williams applauded his newfound positivity.

    His character spun and slashed for several minutes but eventually fell to Radahn's two gigantic swords. A death counter on Cenat's stream updated to 992.

    He slapped his knee in anger. "I got greedy," he said, raising his head and roaring the same words.

    [youtube https://www.youtube.com/watch?v=LI8oYon6kug?si=LDXE0UXcCkcjrawW&start=1342&w=560&h=315]

    "You might need to pull away and give yourself a good five minutes of just resetting and putting your energy only on seeing that good run. Only a continuous good run," Williams told him later.

    The streamer eventually appeared to get insecure. "92 hours and 992 deaths. Am I a bad player?" he asked Williams.

    "I would probably have way worse. So no, you're actually a phenomenal player," Williams replied, encouraging Cenat to avoid "negative self-thoughts."

    Her advice appeared to take root when Cenat's character died again. "It's OK," he said. "And that's fine. That was just fine."

    After a few breathing exercises — and a brief segment where Cenat seemed to get suspicious that his therapist was laughing at his gaming performance — Williams wished Cenat luck and exited his stream.

    Williams, who has 72,500 followers on Instagram, said on social media that she had opted not to run a full clinical session with Cenat when he was "trying to reach his goal" on a livestream.

    "Did this young man need some mental health support during a tough time while he's legit LIVE STREAMING? Yes," wrote Williams, who said she has a Master's Degree in Marriage, Couples, and Family Counselling from Stetson University.

    Cenat would defeat Radahn about six hours and 40 deaths later, or 67 hours after his first encounter with the video game boss.

    [youtube https://www.youtube.com/watch?v=emIzW8JNwwo?si=_Sj8rTLCGZVWY8NF&start=801&w=560&h=315]

    It was the end of an ordeal for the streamer, who collapsed on the floor in ecstasy. He'd also broken down days earlier in front of his fans because he kept losing.

    Williams and representatives for Cenat did not immediately respond to requests for comment sent by Business Insider outside regular business hours.

    Cenat, with 11.7 million followers on Twitch, is one of the biggest creators on the streaming platform, just behind the likes of Tyler "Ninja" Blevins, who holds the top spot with 19.1 million followers.

    The game that frustrated him, Bandai Namco's "Elden Ring," is notorious among avid gamers for its almost torturous difficulty but has sold over 25 million copies since its release.

    Though its main title was launched in February 2022, Cenat was playing a recently released expansion, "Shadow of the Erdtree," when Williams appeared on his stream.

    Read the original article on Business Insider
  • Elon Musk is reigniting his space feud with Jeff Bezos: ‘Sue Origin’

    Blue Origin founder Jeff Bezos (left) and SpaceX CEO Elon Musk (right).
    "Sue Origin," SpaceX CEO Elon Musk (right) said in reference to Jeff Bezos' (left) rocket company, Blue Origin in an X post on Tuesday.

    • Space barons Elon Musk and Jeff Bezos have long had competing ambitions to take over the skies.
    • Bezos' Blue Origin recently proposed a cap on SpaceX's launches due to environmental concerns.
    • Musk slammed the move and gave the company a new moniker: "Sue Origin."

    Jeff Bezos' rocket company, Blue Origin, thinks the FAA should cap SpaceX's launches — and Elon Musk isn't too pleased about it.

    Blue Origin recently expressed concerns over the environmental impacts of SpaceX's rocket launches on nearby facilities in a filing to the FAA, which the agency published on Friday.

    The company also recommended imposing a cap on the Starship-Super Heavy mega-rocket's "launch, landing, and other operations" so that it would have a "minimal impact on the local environment, locally operating personnel, and the local community."

    "An obviously disingenuous response," Musk said on X on Tuesday. "Not cool of them to try (for the third time) to impede SpaceX's progress by lawfare."

    "Sue Origin," Musk said in a subsequent post, taking a jab at the company's name.

    This isn't the first time the two space barons have feuded.

    In fact, Musk himself mentioned two other disputes that SpaceX had with Blue Origin in the past in an earlier post he made on Tuesday.

    In 2013, Blue Origin filed a complaint with the Government Accountability Office (GAO) after NASA chose to lease one of its launchpads at the Kennedy Space Center in Florida to SpaceX. The GAO rejected their complaint.

    Then, in 2014, Blue Origin was granted a patent for a reusable rocket concept that involved landing the rocket on a boat. The US Patent and Trademark Office canceled the patent a year later after SpaceX protested that the technology being patented "was, at best, 'old hat' by 2009."

    https://platform.twitter.com/widgets.js

    To be sure, Blue Origin isn't the only party that has flagged the environmental concerns posed by SpaceX's rocket launches.

    In 2021, residents of Brownsville, Texas, told BI that rocket explosions at a nearby SpaceX launchpad were a source of environmental pollution.

    "SpaceX explosions are littering our ecosystems, home to the endangered ocelot, aplomado falcon, and numerous migratory birds," Brownsville resident Bekah Hinojosa told BI's Kate Duffy.

    SpaceX and Blue Origin did not immediately respond to requests for comment from BI sent outside regular business hours.

    Read the original article on Business Insider
  • Some countries are cutting down their workweeks. Greece is doing the exact opposite.

    Overhead view of popular square in Greece
    Greek workers in some industries could see a six-day workweek.

    • Greece implements a six-day workweek for select industries starting Monday.
    • Workers will receive 40% more pay for extra hours and 115% more for holiday work.
    • This contrasts global trends toward shorter workweeks, sparking backlash and protests.

    As countries and companies worldwide trial a shorter workweek, one economy is moving to a six-day workweek.

    Starting Monday, some workers in Greece could have 48-hour workweek. The change aims to tackle labor productivity issues stemming from unemployment and shrinking populations, which have left many employees to work beyond their hours without extra compensation.

    The reform, which was passed in September, applies to workers in selected private industries, including retail, agriculture, and some service sectors. It also applies to businesses that provide round-the-clock services.

    Workers will be paid 40% more for the extra hours worked.

    Employees can be asked to split their work in various ways: working two additional hours a day or working a maximum of eight hours on a sixth day of the week. They will also be allowed to voluntarily have a second job with another employer of five hours a day, alongside their fulltime job of eight hours.

    Employers who follow the new structure are required to inform their workers of additional hours at least 24 hours before.

    Change could 'kill' the traditional workweek

    The new rules were met with backlash from trade unions and opposition groups.

    One day before the bill was passed in the fall, thousands of public-sector workers, including teachers, doctors and transportation staff, marched to protest the reform.

    While adopting the change is voluntary, opponents say the new bill will make six-day workweeks the norm because Greece has a poor history of conducting labor inspections.

    The new law "will kill off the five-day work week for good," Aris Kazakos, a labor law professor at the Aristotle University of Thessaloniki, told German media outlet DW last week. The employer has the authority to require staff to work a sixth day in the week and staff cannot refuse to work, he said.

    Kazakos also said he worried about the bill increasing safety risks for staff in industrial sectors. In 2023, 179 workers were killed in accidents at work in Greece, up from 104 the year before, DW reported.

    Greeks work more than any of their European counterparts, even before the new bill. Per the OECD, they work an average of 36 hours a week, while workers in France, Netherlands, and Germany work less than 30 hours. US employees work about 35 hours a week on average.

    Greece's reform is a stark contrast to initiatives other countries are taking to reduce the number of working days.

    In April, Singapore announced that employees in the country will soon be able to request shorter workweeks and flexible hours. Iceland, Ireland, UK, and Spain have all experimented with four-day workweeks. Out of 61 UK companies that took part in the six-month trial in 2022, 54 have continued with the shortened week, with 31 of them saying they would do so permanently.

    Read the original article on Business Insider
  • Your Ford pickup could be one of the half million trucks being recalled for suddenly shifting gears

    Pickup truck
    Ford F-150 pickup trucks.

    • Ford has issued a recall notice for over 550,000 of its 2014 model F-150 pickup trucks in the US.
    • The recall came after users complained that the trucks would suddenly drop to first gear.
    • At least two injuries were reported as a result of the transmission issue.

    Ford has issued a recall for half a million of its F-150 pickup trucks after receiving hundreds of complaints that they suddenly downshifted to first gear.

    The auto manufacturer will call back 552,188 units of its 2014 model truck in the US, according to documents by the National Highway Traffic Safety Administration (NHTSA) filed on June 14.

    The total number of recalls worldwide is 668,000 units, per Reuters.

    Ford said that it received 300 warranty reports, 96 field reports, and 124 customer complaints concerning some 482 vehicles, per Reuters. And vehicle users said they faced problems with their truck's transmission shifting unexpectedly to first gear, Reuters reported.

    "A downshift to first gear without warning could result in a loss of vehicle control, increasing the risk of a crash," per the NHTSA document.

    At least two injuries have been reported from the issue, per Reuters.

    Ford said in the NHTSA document that owners would be notified by mail by July 1 and "instructed to take their vehicle to a Ford or Lincoln dealer to have the PCM calibration updated."

    PCM refers to the Powertrain Control Module, which manages the functions of the car's engine and transmission.

    The company said in the document that it would foot the cost of the repairs.

    This week's recall is not the first time the company has had to bring in its pickup trucks because of this issue.

    In 2019, it recalled 107,000 units of its 2013 F-150 model because it did not have the updates necessary to prevent a potential unintended downshift into first gear.

    Last July, the company took back 870,000 trucks of its 2021 to 2023 models after receiving complaints that their parking brakes activated randomly while driving.

    Despite the problems, Ford's F-series trucks have been one of the top-selling vehicles in the US for decades.

    Other automobile companies have also had a bad week. On Tuesday, Tesla recalled 11,688 units of Cybertrucks after issues were detected with the vehicles' single giant windscreen wiper.

    Released in November, the Cybertrucks have had a shaky rollout. Also, on Tuesday, 11,383 units were called back to address a separate issue with a trim in the trunk bed that could have been improperly attached.

    And in April, nearly 4,000 units were recalled over a fault that could cause the vehicles' accelerators to jam.

    Ford didn't immediately respond to a request for comment from Business Insider sent outside regular working hours.

    Read the original article on Business Insider
  • 2 exciting ASX growth shares to buy in July

    a smiling woman sits at her computer at home with a coffee alongside her, as if pleased with her investments.

    With a new month on the horizon, now could be a good time to look at any additions you could make to your portfolio.

    And if you’re a fan of growth shares, then it could be worth checking out the two ASX shares listed below that have been named as buys.

    Here’s what you need to know about them:

    Life360 Inc (ASX: 360)

    Analysts at Bell Potter think that this location technology company’s shares could still be great value despite rocketing this year. The broker currently has a buy rating and $17.75 price target on its shares.

    It has been impressed with Life360’s quicker than expected growth and believes this bodes well ahead of the seasonally strong third quarter of the year. The broker said:

    Life360 put out a media release saying it has just reached 2m global paying circles. This was notably ahead of our forecast which was 1.98m at 30 June 2024 and an increase of 86k in 2Q2024. The figure at 31 March 2024 was 1.90m so this indicates the company has already added c.100k this quarter and will exceed the 96k added in 1Q2024. This far exceeds the growth of 73k in 1Q2023 and 62k in 2Q2023 which was admittedly after the material price rises which were put through for iOS users in the US in 4Q2022. We also note that Q1 and Q2 are traditionally not the strongest quarters for paying circle growth and this rather is in Q3 with back-to-school in the US so the current momentum suggests another quarter of around 100k or more in 3Q2024.

    Light & Wonder Inc. (ASX: LNW)

    Over at Morgans, its analysts are feeling bullish about Light & Wonder and see it as an ASX growth share to buy.

    Light & Wonder, which was formerly known as Scientific Games, is an American cross-platform global games company that provides gambling products and services. Morgans currently has an add rating and $172.00 price target on its shares.

    After winning market share in Australia, the broker believes the company is well-positioned to repeat this in the United States. It said:

    We initiate coverage of Light & Wonder (LNW) with an ADD rating and a 12-month target price of A$172. LNW develops gaming content, hardware and technology solutions for traditional land-based, as well as digital customers and players. LNW is dual-listed on the Nasdaq (primary listing) and ASX. Since restructuring and rebranding from Scientific Games a few years ago, its experienced team has captured significant land-based share in Australia. We believe LNW can replicate this in the US. Additionally, its digital segments are also performing well with its social casino division, SciPlay, significantly outpacing the rest of the market. On our estimates, LNW is on an attractive FY25F PER (based on EPSA) of 14x, with an EV/EBITDA of 9x and a free cashflow (FCF) yield of 6%.

    The post 2 exciting ASX growth shares to buy in July appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Life360 right now?

    Before you buy Life360 shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Life360 wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360 and Light & Wonder. The Motley Fool Australia has recommended Light & Wonder. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Guess which ASX uranium stock was just upgraded to a buy rating

    A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today

    Now could be the time to buy Paladin Energy Ltd (ASX: PDN) shares.

    That’s the view of analysts at Bell Potter, which have just upgraded the ASX uranium stock.

    What is the broker saying about this ASX uranium stock?

    Bell Potter notes that Paladin Energy has announced an all-scrip deal to acquire Fission Uranium (TSX: FCU).

    While this will mean ~30% dilution for shareholders, Bell Potter points out that they will gain exposure to one of the pre-eminent uranium assets in the Athabasca Basin for an attractive price.

    And although the broker acknowledges that the acquisition won’t add any new production in the immediate term, it won’t be too far into the future until it does. In the meantime, its Langer Heinrich Mine will be able to fund developments. It said:

    Our largest drawback to PDN prior to the announcement was the lack of viable near term growth options in the portfolio. This drawback is effectively removed with the inclusion of FCU’s Paterson Lakes (PLS) project, a high-grade unconformity uranium project in Saskatchewan Canada. PLS aims to commence production in FY29, averaging ~9Mlbspa over 10 years.

    We believe this profile fits neatly with production from PDN’s Langer Heinrich Mine (LHM), which will be in its 5th/6th year of operations and producing ~US$200-$220m in free-cash-flow providing potential funding options for PLS.

    In light of this, the broker sees scope for the ASX uranium stock to be producing 15Mlbs annually by the end of the decade. It adds:

    By the turn of the decade, PDN could be producing ~15Mlbs U3O8 annually (13.5Mlbs attributable) across two sites. The question is what is the new business worth? On a EV/ lb of production value, we would argue it’s significantly more than the current implied combined market capitalization. On a DCF basis, it sits somewhere in between. Either way, we argue the new PDN is bigger and better.

    Buy the dip

    Bell Potter notes that Paladin Energy’s shares have sold off since last month, which it feels has created a buying opportunity.

    As a result, it has upgraded the ASX uranium stock to a buy rating with a $16.10 price target. This implies potential upside of approximately 30% for investors over the next 12 months. The broker concludes:

    PDN has sold off since we moved to a Hold in May-24. We see this as a potential buying opportunity Irrespective of the transaction. We ascribe some additional value for the FCU transaction in this note and assume the deal goes through. Our recommendation moves to Buy, TP $16.10 (previously $15.70).

    The post Guess which ASX uranium stock was just upgraded to a buy rating appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Paladin Energy Limited right now?

    Before you buy Paladin Energy Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Paladin Energy Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Top brokers name 3 ASX shares to buy today

    Three people in a corporate office pour over a tablet, ready to invest.

    Many of Australia’s top brokers have been busy adjusting their financial models and recommendations again. This has led to the release of a number of broker notes this week.

    Three ASX shares that brokers have named as buys this week are listed below. Here’s why their analysts are feeling bullish on them right now:

    Bellevue Gold Ltd (ASX: BGL)

    According to a note out of Goldman Sachs, its analysts have initiated coverage on this gold miner’s shares with a buy rating and $2.20 price target. Goldman highlights that Bellevue Gold is now largely through its initial ramp up. As a result, it sees the business as well positioned and attractively priced compared to mid-cap peers. Especially given its higher average grades, stronger margin generation, and near-term free cash flow yields of ~10%. Goldman also sees low-cost mill expansion and underground optionality potentially supporting further upside for the company in the medium term. The Bellevue Gold share price is trading at $1.71 on Wednesday.

    Collins Foods Ltd (ASX: CKF)

    A note out of UBS reveals that its analysts have upgraded this quick service restaurant operator’s shares to a buy rating with an improved price target of $11.50. This follows the release of its FY 2024 results on Tuesday that were comfortably ahead of expectations. In addition, while some investors may be concerned with its soft start to FY 2025, with sales down 0.8% on a like for like basis, UBS isn’t fazed by this. In fact, it feels it is a strong showing given the tough comparables its KFC Australia business is facing. UBS also suggests that as its comparables ease in the second half, it could return to growth on a like for like basis. The Collins Foods share price is fetching $9.22 this afternoon.

    Perpetual Ltd (ASX: PPT)

    Analysts at Bell Potter have retained their buy rating and $27.60 price target on this fund manager’s shares. According to the note, the broker believes the market is undervaluing Perpetual’s business after announcing the sale of its Corporate Trust (CT) and Wealth management (WM) businesses to KKR for $2.175 billion. It thinks the company should be value at 6.3x FY 2025 EBITDA, which is in line with global peers. This values the company at $18.17 per share and then the remaining value comes from its estimated cash distribution following the sale of the CT and WM businesses. Bell Potter sees scope for a distribution of up to $9.55 per share. The Perpetual share price is trading at $21.07 at the time of writing.

    The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Bellevue Gold Limited right now?

    Before you buy Bellevue Gold Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bellevue Gold Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in Collins Foods. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Collins Foods. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.