In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.7% to 7,742.6 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:
The Cettire share price is down a massive 50% to $1.13. Investors have been hitting the sell button today after online luxury products retailer warned that “the operating environment within global online luxury has become more challenging” with heightened levels of discounting. In response to these challenging conditions, the company “has selectively participated in the promotional activity, leading to an increase in marketing costs relative to sales and a decline in delivered margin percentage.” Investors may believe that this marks an end of Cettire’s explosive sales and earnings growth.
The Metcash share price is down 3% to $3.66. This follows the release of the wholesale distributor’s FY 2024 results this morning. Metcash reported a 0.7% increase in revenue to $15.9 billion but an 8.2% decline in underlying profit after tax to $282.3 million. This reflects earnings growth in Food and Liquor being offset by lower earnings in Hardware and increased corporate costs. In light of this, the Metcash board cut its fully franked final dividend by approximately 23% to 8.5 cents per share.
The ResMed share price is down 12% to $28.04. This has been driven by concerns over the efficacy of weight loss drugs on treating sleep apnoea. Eli Lilly And Co (NYSE: LLY) released trial results for tirzepatide, sold under the brand names Mounjaro and Zepbound, that revealed that all primary and key secondary endpoints were met in adults with obesity. The trials demonstrated a mean reduction of up to 62.8% on the apnoea-hypopnea index (AHI), or about 30 fewer events restricting or blocking a person’s airflow per hour of sleep, compared to placebo.
The Star Entertainment share price is down almost 7% to 45.7 cents. This follows the release of a guidance update from the casino and resorts operator this morning. Due to the challenging economic environment and cost of living pressures, Star Entertainment’s performance has weakened in the fourth quarter. As a result, in FY 2024 management expects group revenue to be between $1,675 million and $1,685 million and normalised group EBITDA to be in the range of $165 million to $180 million. The latter represents a significant decline on FY 2023’s normalised EBITDA of $317 million.
Should you invest $1,000 in Cettire Limited right now?
Before you buy Cettire 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 Cettire Limited wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Cettire and Metcash. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Despite the past month’s sell-down, spurred by a retrace in uranium prices, ASX uranium stocks have broadly delivered some benchmark smashing longer-term returns.
Over the past 12 months the All Ordinaries Index (ASX: XAO) has gained a healthy 10.0%.
Here’s how these leading ASX uranium stocks have performed over that same time:
Paladin Energy Ltd (ASX: PDN)* shares are down 5.7%
Bannerman Energy Ltd (ASX: BMN) shares are up 121.4%
Deep Yellow Limited (ASX: DYL) shares are up 94.0%
Alligator Energy Ltd (ASX: AGE) shares are up 27.5%
(*Paladin shares entered a trading halt today pending an announcement. Rumour has it this could be related to a possible capital raising to fund a new uranium acquisition.)
And those smashing one-year gains could be just the tip of the iceberg amid what pundits are labelling the new global nuclear renaissance.
ASX uranium stocks could help power the world
Amid a global charge to build new nuclear power plants for carbon free baseload power, the World Nuclear Association forecasts uranium demand growth will outpace global supply growth through to 2040.
In another bullish signal for ASX uranium stocks, Russian uranium is now off the menu for the United States as part of the sanctions for the nation’s invasion of Ukraine. Other nations are also looking at banning Russia’s uranium exports.
And the US is among the 27 nations recently declaring its intention ramp up nuclear energy.
According to US Energy Secretary Jennifer Granholm:
We are entering a new era of nuclear energy, our single largest source of carbon-free electricity. We plan to invest up to US$900 million to accelerate nuclear deployment, add more small modular reactors, and reach more Americans with clean energy.
The US has said it will source its nuclear fuel both domestically and from its allies.
With Australia a top US ally and sitting on the world’s largest proven economic uranium reserves, ASX uranium stocks could have some big opportunities ahead.
Last year, US congressman Neal Dunn questioned the Australian government’s opposition to uranium.
Dunn said (quoted by The Australian Financial Review):
We talk about, ‘Why isn’t Australia with us on this?’ There are a lot of commercial opportunities. You have got the uranium ore, you have got the skills, all you lack is the will.
That will may now be emerging. At least, if opposition leader Peter Dutton and the Coalition have their way.
As you’re likely aware, Dutton is pushing for Australia to invest heavily in constructing nuclear plants. A move the Labor government still strongly opposes.
140% potential gains on the table
According to Morgan Stanley, the “nuclear renaissance” now underway may need US$1.5 trillion (AU$2.3 trillion) of investment between now and 2050.
And the broker noted that if Australia’s restrictive policies on uranium exploration and mining are lifted, it could usher in some outsized gains for ASX uranium stocks like Paladin.
According to Morgan Stanley’s Shannon Sinha (quoted by the AFR):
Nuclear power remains divisive. High construction costs, as well as concerns about waste and safety, plus political sensitivity, mean that nuclear is likely to remain a binary issue for many markets.
Sinha added, “Paladin’s Australia resource base is currently impacted by uranium mining bans in Australia, but we note that the political stance on this may be changing.”
Morgan Stanley estimates the ASX uranium stock could be a major beneficiary if the government eases restrictions on its Western Australian and Queensland assets.
The broker said the Paladin share price could soar as high as $32.00 in this event, representing a potential upside of 142% from Friday’s closing price of $13.24.
Should you invest $1,000 in Alligator Energy Limited right now?
Before you buy Alligator 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 Alligator Energy Limited wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Bernd Struben 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.
This Monday marks exactly one week until the start of July. That means there’s only one week left in June, as well as the 2024 financial year. It also means that from next Monday on, we’ll be able to lodge our tax returns for the financial year that is about to pass us by. So let’s talk about why you won’t want to forget your franking credits when you do your taxes.
Franking credits are an important component of the tax return for anyone who owns ASX shares. Overlooking them when you do your taxes would be a huge mistake.
Whenever a company pays out a dividend, it must do so from a pool of profits on which it has already paid corporate tax. When you or I receive this dividend, we must also declare it to the Australian Taxation Office (ATO) as taxable income and pay tax on this cash accordingly.
But you may notice a problem here. By the time this dividend cash makes its way into our bank accounts, it has theoretically been taxed twice. Once at the corporate level and once as personal income. That’s not exactly a fair outcome.
To account for this, companies include franking credits with any dividends funded from previously taxed profits. These credits can be thought of as a receipt of sorts that proves taxes have already been paid on this pool of cash.
Most ASX shares pay corporate taxes in Australia. If that’s the case, dividends from these companies usually come fully franked. But if a company makes profits and pays taxes offshore instead of in Australia, it might not generate franking credits. This is normally the case when a company pays a partially franked dividend or a dividend that is completely unfranked.
How does a franked dividend help us at tax time?
When we receive franking credits, we can use them to claim a tax deduction from the ATO up to the value of the taxes already paid. As such, franking credits reduce the income tax we might otherwise be required to pay to the ATO.
Thus, franking can form a big portion of the overall wealth-building benefits of investing in and owning ASX shares.
To illustrate, let’s take an ASX dividend share that has paid out a yield of 4% over FY2024. If these dividends were fully franked, that dividend yield would instead gross up to be worth 5.71%, with the value of those full franking credits included.
As you can see, franking is not something that should be ignored. It can help reduce your debt or assist you in getting a larger refund when you lodge your FY2024 tax return. So don’t forget about your franking this tax time. Doing so would be a huge own goal.
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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 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.
According to The Wall Street Journal, which first reported on Benarroch's departure, he also acted as a close advisor to Yaccarino, named X's chief executive in May 2023.
The pair previously worked together at NBCUniversal, where Yaccarino was the chief of advertising, and Benarroch was her direct report as executive vice president of global advertising.
But that longtime professional relationship has ended.
Two anonymous X employees told The Financial Times that Yaccarino held Benarroch responsible for botching the rollout of X's new policy on adult content earlier this month. The employees told the FT that Benarroch failed to tell X's clients about the rule before debuting it to the public.
Notifying X's clients could be crucial since the platform is struggling to attract more advertisers.
Benarroch's LinkedIn profile currently indicates he is "open to work."
He did not respond to a request for comment from Business Insider sent during the weekend.
Sources familiar with the matter told The Financial Times that Nick Pickles will take over Benarroch's comms responsibilities.
Pickles — a one-time conservative candidate for the UK's parliament — was among the few senior Twitter staffers who remained at the social media company after Musk's massive layoffs. He worked at the company since 2014 when Dick Costolo was still the CEO of Twitter.
Pickles'current role at X is the head of global government affairs, but he'll also temporarily be leading global communications, the sources told the Financial Times.
Pickles did not respond to a request for comment from BI sent during the weekend.
The staff change-up comes as Yaccarino faces mounting pressure to reduce costs and raise revenue for the social media company, according to the Financial Times.
The Verge reported that in April, Musk brought in Steve Davis, a chief executive at Musk's tunnel project, Boring Company, to review X's financial health.
According to The FT, Davis led layoffs and cost reductions at X in 2022 and 2023.
One X employee speaking to The Verge described Davis as "the grim reaper who only shows up for bad things."
Before Twitter became X, employees last year speculated that he could be the next chief executive under Musk's ownership.
Krysten Ritter in "Orphan Black: Echoes" and Tatiana Maslany in "Orphan Black."
Sophie Giraud / Christos Kalohoridis / BBC America
"Orphan Black: Echoes" is set 37 years after the end of the sci-fi drama "Orphan Black."
Showrunner Anna Fishko told Business Insider that they changed the cloning format to make the spinoff unique.
She also said there was an attempt to bring back "Orphan Black" lead Tatiana Maslany.
Warning: Spoilers ahead for the first episode of "Orphan Black: Echoes."
Nearly seven years after the series finale of "Orphan Black," the clone-centered sci-fi show is returning with a new spinoff, "Orphan Black: Echoes." But this time, the cloning element will be very different, "Echoes" showrunner Anna Fishko told Business Insider.
Like "Orphan Black," the Emmy-winning show that garnered a small but loyal fan base, "Echoes" begins with a dark-haired, stubborn woman stumbling upon a big mystery surrounding her creation. But that is where the similarities between the two series end.
At the beginning of the "Echoes" premiere episode, a woman named Lucy (played by Krysten Ritter) wakes up without her memories and learns that she was created in a neon-pink futuristic human-printing machine. Throughout the episode, Lucy is haunted by a nightmare in which she sees a teenage version of herself holding a bloody knife.
At the end of the episode, Lucy meets that teenage version of herself, but the girl doesn't recognize her. Lucy realizes the girl is another "print-out" clone like her.
In "Orphan Black," Tatiana Maslany played several clones simultaneously.
Temple Street Productions/BBC America/Bell Media/Space
While the original "Orphan Black" was praised for having its lead star, Tatiana Maslany, portray multiple lookalike clones with drastically different personalities, "Echoes" takes a new approach by having clones of various ages.
Fishko told Business Insider in an interview ahead of the series premiere that this was a deliberate attempt to distance the spinoff from the original show.
"We really specifically intended to do something different," Fishko said. "I think everybody felt like Tatiana had put in such an incredible performance, and nobody really wanted to do that over again. It was hard to imagine doing that better."
Fishko said this new concept allowed the writing team to explore the ideas of "sisterhood" and "identity" from the original show without repeating the same format.
Fishko said Tatiana Maslany doesn't appear in season one due to scheduling issues
Tatiana Maslany most recent credits include "Invincible," "She-Hulk: Attorney at Law" and "Butterfly Tale."
JC Olivera / Getty Images
"Echoes" is set in 2052, 37 years after the end of "Orphan Black," but there are plenty of connections between the two shows.
Lucy's creator is Kira Manning (Keeley Hawes), the daughter of "Orphan Black" lead character Sarah Manning (Maslany). At the end of episode one, Kira calls up her "Aunt Cosima," referring to Sarah's clone Cosima Niehaus (also Maslany).
The camera then pans to pictures of several characters from the original show, including Felix (Jordan Gavaris) and Siobhan (Maria Doyle Kennedy).
Unfortunately for "Orphan Black" fans, Fishko confirmed to BI that Maslany won't appear in person as any of her beloved clone characters.
"We definitely thought about it, and we talked with her," Fishko said. "Unfortunately, the timing just didn't work out because she was shooting something else right at the same time as us. And so it really was sort of a bad timing type of situation."
"Orphan Black: Echoes" showrunner Anna Fishko and "Orphan Black" co-creator John Fawcett.
Rick Kern / Getty Images for AMC Networks
Fishko added that the producers were open to Maslany appearing in future seasons if the series gets renewed. She added it was "a tricky balance" to figure out how many references to the original show to include without alienating new viewers.
"I think we really wanted new audience members who'd never seen 'Orphan Black' to be able to come to this show and not feel lost or confused and really be able to just start fresh and follow the story and go on the ride and have fun," Fishko said.
"But then, yeah, we wanted to make sure we were putting things in there for the Clone Club and for the fans of the original," she said, referring to the main characters of the original show.
Fishko said the writing team contemplated including a few fan-favorite characters in the spinoff, and she spoke to "Orphan Black" co-creator John Fawcett about what would have happened to these characters 30 years later.
"It was fun to talk with John Fawcett actually about what we could imagine had happened to them in the intervening time between when the first show finished, and this show that takes place 30-odd years in the future," Fishko said.
Fishko said Ritter was the blueprint for the other clone castings
"Orphan Black: Echoes" apparent clones played by Krysten Ritter and Amanda Fix.
Sophie Giraud
Although the clones are of different ages, there needed to be synergy in their looks to make the story believable.
Fishko said they cast Lucy's part first and then decided what a younger version of that character would look like.
"I think Krysten has this very kind of tough outer shell, but then there's always this vulnerability inside that you feel on screen," Fishko said. "Lucy's character had been through a lot, had learned to survive in the world on her own with no support, and then, also has this deep desire to find connection and family."
Fishko said there was a "global search" for Ritter's young lookalike, and they eventually found Amanda Fix, who plays the unnamed clone teenager at the end of episode one.
"We got really lucky," Fishko said. "She's an incredibly talented, wonderful performer. And then also looks pretty close to what a younger version of Kristen might have looked like."
New episodes of "Orphan Black: Echoes" air on Sundays on AMC and BBC America and stream on AMC+.
The S&P/ASX 200 Index (ASX: XJO) has started the week in a disappointing fashion. In afternoon trade, the benchmark index is down 0.65% to 7,746.1 points.
Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are rising:
The Cleanaway Waste Management share price is up 1.5% to $2.73. This follows news that the waste management company has agreed to acquire the waste and recycling business and assets of Citywide Service Solutions, Citywide Waste, for a total consideration of $110 million. Citywide Waste provides waste management services to approximately 1,500 municipal, commercial, and industrial customers in Melbourne. This includes Melbourne City Council. It generated EBITDA of $10.7 million and EBIT of $6.4 million in the twelve-month period ending February 2024.
The IGO share price is up 2.5% to $5.71. This is despite South32 Ltd (ASX: S32) taking legal action claiming to be entitled to royalty payments from the Tropicana Gold Mine in Western Australia. IGO continues to deny that it has any liability to South32 on the basis that the pre-conditions to any entitlement to be paid a royalty have not been satisfied. This gain could have been driven by a broad rebound in the battery materials space on Monday.
The Myer share price is up 17% to 75.5 cents. This has been driven by news that the department store operator is wanting to merge with the apparel brands of Premier Investments Limited (ASX: PMV). This comprises the Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti brands. The combination would see the department store acquire Premier’s apparel brands business in exchange for the issue of new Myer shares. Premier Investments’ chair, Solomon Lew, has indicated that he would be prepared to take an active role as a non-executive director of Myer if the transaction proceeds.
Premier Investments
The Premier Investments share price is up 3.5% to $30.98. Investors also appear to believe that the aforementioned apparel brands merger with Myer would unlock value for Premier Investments shareholders. The company said: “The proposed combination has the potential to deliver a step change in Myer’s scale and market position, deliver synergies and drive sustainable earnings growth. Premier shareholders would benefit given Premier’s existing shareholding in Myer and because Premier shareholders would become shareholders in Myer.” However, it has warned that there is no certainty that the proposal will result in a binding offer or transaction.
Should you invest $1,000 in Cleanaway Waste Management Limited right now?
Before you buy Cleanaway Waste Management 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 Cleanaway Waste Management Limited wasn’t one of them.
The online investing service heâs 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…
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 Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Commonwealth Bank of Australia (ASX: CBA) share price is outperforming the BHP Group Ltd (ASX: BHP) share price today, tightening the race that has some market watchers on the edge of their seats.
Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed Friday trading for $127.68. At time of writing on Monday, shares are changing hands for $127.69 apiece, up a very slender 0.01%.
As for BHP, shares in the ASX 200 mining giant closed Friday at $42.78 and are currently trading for $42.485, down 0.69%.
For some context, the ASX 200 is down 0.6% at this same time as well.
Here’s why the relative performance between the two ASX 200 goliaths matters.
Soaring CBA share price could upend ASX leader
At the current CBA share price, Australia’s biggest bank has a market cap of approximately $214.0 billion.
Despite that very impressive figure, CommBank still comes in second to BHP. With a market cap of approximately $216.7 billion, the iron ore miner remains the biggest stock on the ASX.
BHP has held that crown since November 2021. That’s when it sailed past CBA as the iron ore price rocketed above US$200 per tonne.
But that could be about to change once more.
CBA has joined in the broader bank stock rally over the past year, defying a chorus of bearish analyst forecasts. That rally sees the CBA share price up more than 30% in 12 months.
The BHP share price, meanwhile, has gone the other direction. Investors have sold down the miner amid a retrace in iron ore prices and further weakness forecast in the year ahead as China’s economy continues to sputter along in low gear. This sees the BHP share price down more than 4% in 12 months.
Should CBA stock continue to outpace BHP stock in the days ahead, we could see CommBank retake the biggest ASX stock title for the first time in almost three years.
Expert commentary
Commenting on the blistering rally in the CBA share price, and bank stocks in general, UBS analyst John Storey said (quoted by The Australian Financial Review), “The reason and narrative behind the bank rally is now fundamentally different to what initially sparked it in November.”
Storey explained:
Overall, clients think the impending tax cuts will provide further relief to consumers, while low unemployment numbers, and rising property prices, mean the credit cycle is turning out to be far more benign than initially feared.
Clients see few catalysts on the horizon which could fundamentally derate these stocks from here, outside of valuation.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bhp Group wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Bernd Struben 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.
"House of the Dragon" season 2 episode 2 focuses on the fallout of Jaehaerys' death.
HBO; BI
Rhaenyra lays into Daemon after learning he was inadvertently responsible for Jaehaerys' murder.
Meanwhile, Alicent and Criston grapple with their guilt in very different ways.
Criston makes a big move against Rhaenyra, and Aegon II names him his new Hand after ousting Otto.
The brutal killing of Aegon II Targaryen's heir has left both sides in chaos.
The "House of the Dragon" season two premiere ended with Blood and Cheese, two inept assassins hired by Daemon Targaryen to kill Aemond in retaliation for the death of Rhaenyra's son Lucerys Velaryon, beheading Jaehaerys, the oldest child of Aegon II and his sister-wife Helaena.
Episode two picks up shortly after the shocking death, with the Greens reacting to the death (and using it for political moves) and a clueless Rhaenyra desperately trying to figure out why the kingdom believes she's responsible for the murder of a child. (Thanks, Daemon.)
Below, Business Insider reporters Eammon Jacobs, Palmer Haasch, and Ayomikun Adekaiyero and senior entertainment editor Caralynn Matassa break down all the major moments in "House of the Dragon" season 2, episode 2.
The aftermath of Jaehaerys' death
Alicent and Helaena attend the procession behind Jaehaerys' body.
Theo Whitman/HBO
Palmer Haasch: There are a few really important reactions here: Alicent feels like she's being divinely punished, Helaena is utterly grief-stricken, Rhaenyra is aghast that she's being blamed, and Otto knows that this is the biggest political gift his side will probably ever see. And he's right!
Caralynn Matassa: And Aegon — just utterly wrecked. Any intention he had to try to be a good king is entirely wiped away here in favor of vengeance.
Palmer: I think it's interesting, because you really don't get the impression that Aegon cares too much about his children until he starts to see Jaehaerys as a viable heir. Even though he didn't want the throne himself, he too has become power-drunk and wants to continue his legacy.
Eammon Jacobs: Phia Saban's performance during that procession scene is so haunting. She's doing so much without needing to wail lines of over-the-top predictable dialogue. It's clear that Helaena is tapping into something bigger too, just with the focus on the seeds/leaves blowing in the wind and her frantic facial expressions.
Ayomikun Adekaiyero: The series does a great job of showing how this toxic masculinity among the men — particularly Aegon, Daemon, and Criston — escalates this conflict. Aegon doesn't really care about Jaehaerys; he is terrified at looking weak, which also isn't his fault, considering he has been raised to be this great king. Tom Glynn-Carney really has one of the best performances in this episode.
And on the toxic masculinity point, it's interesting to see how the harm of this conflict so far is mostly affecting the women. Rhaenyra is blamed for a murder she didn't order, Alicent and Helaena are forced to perform for the royal family during their grief while the men plot and create more chaos.
Palmer: This is also really the moment where we realize how much of a curse Helaena being a dreamer is. She can foreshadow the death of her own son, but she doesn't realize it and can't prevent it. The entire funeral procession should also satiate everyone who didn't think the death was horrifying enough — I think seeing little Jaehaerys, with his neck stitched, valorized like a martyr in the streets is infinitely worse than whatever else we could have gotten out of Blood and Cheese. Phia's performance here heightens the entire thing.
Caralynn: Phia and Tom were both such standouts in this episode! The way the procession was staged and filmed was also gorgeous and so evocative. The closeup on little Jaehaerys' sewn-on head almost made me puke.
Palmer: I also want to talk about the conversation between Alicent and Helaena right before the funeral procession — it's a huge insight into Alicent as a mother. For the most part, I've gotten the impression that the moments where she's protecting her children are also deep political moves, like when she demanded Lucerys' eye at Driftmark in season one. But in this moment, she is truly throwing Helaena to the wolves, and knows it. Olivia manages to elucidate this tension between protecting her daughter from scrutiny and making the savvy political choice, but obviously, we know where Alicent lands.
Caralynn: I've never had less sympathy for Alicent than in this episode. You can see her struggling with this choice — and that's all thanks to Olivia's meticulous performance — but she makes the wrong choice at literally every opportunity here.
Palmer: I do think that she is unfortunately pretty on the nose when she says that she's being punished by the gods.
Ayomikun: I haven't read the books, and maybe I'm reading into the procession too much, but I feel like there was so much foreshadowing that there is worse to come. The flowers of the funeral fall down like ash, terrifying Helaena. The people of the city reach out as if they are also in pain. So far, the casualties have all been kept to the royal family but there is a great sense that this is going to go really badly for everyone, and soon.
Eammon: That's a constant theme in the franchise, really — the smallfolk always pay for the actions of the upper class. We saw that back in season one when Rhaenys broke out of the Dragonpit and squished people watching the coronation!
Don't ignore the smallfolk
We get it, Hugh Hammer is going to be important soon.
Ollie Upton/HBO
Caralynn: Speaking of squished people, we got a lot of smallfolk scenes scattered throughout the episode. But the most effective for me was that mom who saw her dead ratcatcher son strung up. And the dog giving that small whine when he saw Cheese dead!
Palmer: Thank god the dog is safe!
Ayomikun: The hanging scene really highlights how much Aegon messed up more than Otto's tirade. The smallfolk don't really know the ins-and-outs of what's going on, but they know their king has just murdered the lowest of their servants, most of whom were completely innocent. They likely will trust Aegon less than Rhaenyra, who kept the conflict to just the royals.
Palmer: To be fair, Aegon is barely still winning the PR war because everyone thinks Rhaenyra killed a child. But yeah, ultimately, I agree with you — which is funny because everyone was lauding him as a wealth redistribution icon in the last episode.
Aegon giveth sheep….. he taketh away sheep….. he slays rat men…….
Eammon: I do think that even in the first two episodes, the writers are trying to show the war from the smallfolk's perspective — maybe more than "Game of Thrones." We had the sheep/dragon debate last week, and now we've got the elimination of the ratcatchers.
Palmer: I have mixed feelings about how the series handles this, because, on the one hand, I think that it's hugely important for the show to contextualize the war within the actual population of Westeros in order to convey the scope. But I also think that it's a bit halfhearted when — ratcatcher mother aside — the smallfolk we interact with the most in the show are all like, hugely important characters down the line. They're not truly the everyman.
Caralynn: I, for one, found it hard to care about the scene with Hugh's family because it just felt so much like a set-up for his eventual More Important story.
Eammon: That moment with Hugh's family did seem heavy-handed. And I'll be honest, hearing that the cost-of-living crisis has also hit Westeros was not the plot twist I was expecting.
Palmer: Hugh comes from a SIOSK (single income, one sick kid) family.
Caralynn: If only they had access to a Costco for a $5 rotisserie chicken.
Eammon: Westerostco.
Clinton Liberty and Abubakar Salim as Addam and Alyn of Hull in "House of the Dragon."
Ollie Upton/HBO
Palmer: We should also talk about Alyn and Addam of Hull, who, without saying too much, are also going to continue to be important. There's a very conspicuous dragon (cough, cough Seasmoke) flying in the sky above Addam during one scene that we should… probably pay attention to!
Ayomikun: If I didn't know Addam and Hugh were so important, some of their scenes feel so forced and out of place. Like the writers are stage-whispering, "YOU SHOULD KEEP AN EYE ON THESE PEOPLE."
Eammon: I found those two reuniting far more interesting than Aegon's predictable breakdown, I'm sorry to say. Their dynamic and that shot of the dragon was a great way of endearing them to the audience and positioning them as key characters further down the line.
Ayomikun: The conversation between Alyn and Addam — where Addam is like, "You should try to get close to Corlys Velaryon!" and Alyn is like, "I don't want to get involved in this conflict at all" — is a good way to establish the key divides of normal folk during this conflict. There are those who want to use the situation to rise above their station and those who just want to survive another day. It will be interesting to see where both those storylines lead.
Caralynn: Then, re: smallfolk, there's of course the prostitute Aemond is with in the brothel who goes ahead and helpfully spells out that it's really the commoners who get the shaft when royals, say, get angry and let their dragon eat their nephew.
And speaking of poor, traumatized Aemond…
Let's get a little love for the poor traumatized kids
Poor Aemond.
Ollie Upton/HBO
Palmer: I love Aemond, my beautiful, very very messed up boy. Ewan gives a great physical performance here — there's one shot where it shows him all curled up, and it's very effective to see all his limbs folded in like that. Somehow, he manages to make Aemond feel very, very small!
Caralynn: He was literally in the fetal position at one point, wasn't he?
Palmer: Yeah, he's baby.
Eammon: It was refreshing seeing him in a pretty vulnerable state for once though. All of Aemond's scenes previously have revolved around conflict, angst, or anger, so having a peek behind the armor (so to speak) really helps make him feel like more of a well-fleshed-out character than just a constant ball of contempt.
Palmer: It's also a very interesting contrast, because we haven't seen this side of Aemond since he was a child, basically. He is clearly the single most powerful war asset for the Greens, but I think it's important to remember that he is also the loser cousin who got bullied. But on top of that, he also very clearly realizes that Daemon is his true rival in the war, and I love the way that the show sets them up as counterparts.
Caralynn: Overlooked and extremely angry second sons.
Palmer: Who have both managed to indirectly exact the most damning murders of the war!
Ayomikun: Aemond is never escaping the wannabe Daemon allegations.
Palmer: Also, nice to know that he's seeking some absolution for killing Lucerys.
Caralynn: The confessional element of his conversation with the prostitute was a nice touch. She looked a little taken aback at him suddenly confiding that he regretted the single action that arguably started the war. She's just like, "Welp. You goofed, kid, and now we're all screwed."
Palmer: Can you imagine what it would be like to be the confidant for the most capable, messed up child of the entire royal family?
Caralynn: High-pressure therapy situation.
Eammon: It's like "The Sopranos," but with dragons.
The only reasonably well-adjusted members of this family.
Theo Whitman/HBO
Palmer: I also really want to talk about Baela and Jace because, damn, this is the most the show has given us of either of them in a hot minute.
Caralynn: Such a sweet scene! I love that Baela gave Jace the opportunity to talk about both his dads.
Palmer: It's a great way to show the closeness of their relationship. Baela knows how to ask about Ser Harwin Strong without judgment, and he's clearly someone that Jace still wants to talk about. Bethany Antonia, who plays Baela, told me at the premiere that she and Harry Collett, who plays Jace, made the decision that betrothal aside, Baela and Jace do want to be together — and I think this sequence does a great job illustrating that.
I also think it's extremely telling that Rhaenyra doesn't allow Jace to patrol near King's Landing on Vermax when he volunteers, and instead dispatches Baela to do the same thing on Moondancer. There is a difference in the children that she's willing to potentially sacrifice.
Caralynn: YES, that was such a subtle telling moment. She's not willing to lose another son. But Daemon's daughter? Sure, fine, whatever.
Ayomikun: Honestly, these two seem like the most emotionally and mentally well-adjusted of all the Targaryen/Velaryon/Hightower families. I'm rooting for them.
Palmer: That's the Laena Velaryon in them, truly.
The final straw for Daemon and Rhaenyra
Rhaenyra's had it with Daemon.
Theo Whiteman/HBO
Eammon: The writing in this whole scene was fantastic, it weaved through their twisted, chaotic relationship with such sharpness.
"Have you used me as a tool to grasp at your stolen inheritance?" There it is — the writers digging into what makes Daemon actually tick. Even among the violence, bloodshed, and dragons, they're committed to exploring these characters in great detail. In a way, it makes me sad that other shows (ahem "Star Wars" ahem) don't take as much time to do the same.
It's so obvious that Daemon continues to blame everyone but himself as that sociopathic, narcissistic streak keeps slipping out.
Palmer: It's unfortunately very funny that during the council meeting where they discuss Jaehaerys' death, Rhaenys basically immediately clocks that it's Daemon's fault.
Caralynn: The council meeting was kind of weirdly hilarious. It seemed like everyone registered it was Daemon's fault except for, belatedly, Rhaenyra?
Palmer: Their fight is a real watershed moment for Daemon. I think he's a character that — don't get me wrong, I love Daemon — got a little bit muddied in season one. He's bloodthirsty! He's a war hero! He's a devoted husband who wants to hang out in Pentos! Actually, he does want to be King Consort! We get a lot out of him, but it's hard to see where his head is at. I think this, and what it's setting up with him leaving, are great for us to get a bit of Daemon's interiority.
Caralynn: Also the chemistry between Matt and Emma is absolute fire, as usual. They're both top of their games in that scene.
Ayomikun: This conversation also sees them finally confronting an issue that we, as viewers, have all wanted to see hashed out since Daemon first started trying to romance Rhaenyra. Does he actually care for her, or is she another obstacle to what he really wants: power?
Palmer: It's refreshing to see Rhaenyra basically hit her breaking point there. I think it's important to note that she's been using him as well, whether it was to maybe indirectly piss off Viserys, or more obviously, to strengthen her standing as heir. This is the moment where she realizes that he's more of a liability than a boon, and that the challenge of mentally sparring with him just isn't worth it anymore.
Caralynn: I love that Rhaenyra lays every single card out on the table here. She's had enough of Daemon and his games.
Palmer: It speaks volumes that his insult is instead that Viserys used her to get back at him, by naming her as the heir. Daemon still ultimately sees her as a pawn, rather than a player.
Ayomikun: Also, though I do believe both Aegon and Daemon want war for the wrong reasons, they're kind of right? Both sides are unwilling to give in at this point. This doesn't end without one side dying, so why aren't they already making more proactive plans to win?
Maybe this is partly selfish of me, trying to see some action, but I find it kind of comical that both sides basically created a civil war scenario and now are just like, "No, you start the war. No, you start it!"
My God, Criston is an idiot… aaaand now he's the Hand
So pretty, but so stupid.
Ollie Upton/HBO
Caralynn: Criston might be one of the most deeply unlikeable characters in the wider "Game of Thrones" universe, which is saying something.
Palmer: In many ways, Criston and Aegon are a perfect match. Two revenge-minded imbeciles made to plunge Westeros into chaos. Criston is so unlikeable, it's genuinely funny. Alicent at least has the decency to be completely wracked by her guilt, but Criston instead lashes out to blame Arryk for what is basically his own mistake.
Caralynn: He has such a toxic male reaction to the guilt that he can't internalize it at all — he needs to project it outward. Good on Arryk though, for being like, "Well, where were you?"I thought Criston was going to bitch slap him at that point.
Eammon: Hilarious that the rest of the Kingsguard nope'd out when Criston started badgering him.
Palmer: Remember when Criston asked Rhaenyra to run away and like, trade oranges with him?
Caralynn: The scene with Arryk was very reminiscent of right before he beat Laenor's boyfriend to death. "There's a lot of things going on in my head that I refuse to have feelings about so instead… I'mma do a violence."
Palmer: Yeah, the man has deep-seated anger issues. But I think it's so funny, because Alicent has also been terrible for him, obviously. He was so wracked with guilt for sleeping with Rhaenyra all those years ago, and her spurning him clearly like, radicalized him. And now that he's in with Alicent, and loosely complicit in Jaehaerys' murder, he really has no path forward other than to Do This.
Caralynn: Aegon ousting Otto as Hand in favor of Criston is such a clear "OK, we've totally lost control of this situation" moment for Otto. It's silly and a little infuriating that Alicent is still insisting Aegon can be molded. This seems… unlikely?
Palmer: It's great to see Otto once again reaping the consequences of his actions. I love to see that man humbled (though I don't think he ever actually internalizes it).
Ayomikun: Otto was pushing the line a bit. disagreeing with the king is one thing, shouting about him being an idiot… like he's lucky Aegon idolizes him so much.
Ollie Upton/HBO
Caralynn: I did love the moment where Aegon says, "Well, Viserys named me his heir" and Otto says, "Is that what you think?" and laughs.
Palmer: It's definitely an emotional move, not an intelligent one.
Caralynn: I wonder if that little seed of doubt now planted in Aegon's head is gonna go anywhere. Or if that head is all just violence and vibes, no thoughts.
Palmer: His spite-fueled ego, probably.
Caralynn: Anyway, I'm looking forward to Criston making a bunch more dumb decisions in his official capacity as the Hand now.
Palmer: I'm sure he'll do great! No notes.
Ayomikun: Going back to Alicent and Criston for a second, it's interesting that both episodes end with a sex scene for them, but the circumstances are flipped. In episode one, Alicent is in charge completely and is on top during the scene. In episode two, Criston is now taking charge because he has reached the same station as her. I'm sure this will eventually cause conflict between those two.
Palmer: I do love how toxic and terrible they are for each other. Alicent beats him, and he's like, wow… that's hot.
Caralynn: One last thing I wanted to mention here — we finally got a shout-out to Viserys and Alicent's thus far unseen youngest son, Daeron! When Otto is telling Alicent he might go to Oldtown, he says Daeron is there and could be an asset to them. Maybe that means we'll finally see him sometime soon.
Criston's masterful gambit utterly fails — but Mysaria is so back
RIP Erryk and Arryk.
Ollie Upton/HBO
Palmer: Criston is so hot-headed he thought it was a good idea to send one guy on a suicide mission as penance for his brother defecting. Good work, man!
Caralynn: That Arryk v. Erryk fight scene was really well done.
Eammon: Absolutely brutal. Once again, people lower down the ladder are paying the price for the upper class's scheming.
Palmer: I think this is a great moment for Mysaria too, who has frankly been frustrating for me over the course of the show. It's not that I particularly dislike her character, but I feel like she's frequently deployed in irritating ways to make one-off points about the smallfolk.
But this is actually the first time I feel like we've really seen her make a decision — one that notably does not particularly serve her. It's fascinating to see her throw her lot in with Rhaenyra, but I think that Rhaenyra is also one of the first nobles to actually treat her with grace and respect by letting her go.
What's Mysaria's end game here?
Theo Whitman/HBO
Caralynn: The Mysaria of it all was really interesting. I'm so curious to see her explain her motivations for stepping in, and where this leads her now. (And how it changes her relationship with Rhaenyra.)
Ayomikun: The fight was a truly brilliant scene, especially since we as the audience can't really tell which twin is which.
Caralynn: I was worried that only one twin would survive and that they'd do a whole prolonged "Is it an imposter?" thing. I don't think I could have handled an entire season of waiting for that foot to drop so I'm thankful they just had them both die, honestly.
Eammon: That would've been kinda interesting, but I've been burned with that plotline in other franchises… (Yes, "Spider-Man: The Clone Saga," I'm looking at you.)
Palmer: I will say, I am happy that my notes are no longer filled with "Arryk? Erryk? AERRYK?"
"House of the Dragon" season two airs Sundays at 9 p.m. ET on HBO and is streaming on Max.
According to the release, the company has agreed to acquire the waste and recycling business and assets of Citywide Service Solutions, Citywide Waste, for a total consideration of $110 million.
In addition, Cleanaway will concurrently enter into a 35-year lease for the waste transfer station located at 391-395 Dynon Road in West Melbourne.
What is Citywide Waste?
Citywide Waste provides waste management services to approximately 1,500 municipal, commercial, and industrial customers in Melbourne. This includes Melbourne City Council.
It also operates the Dynon Road waste transfer station, Victoria’s second largest waste transfer station. It is located approximately five kilometres from the Melbourne central business district. Annually, the transfer station receives over 200,000 tonnes of waste and recycling material.
As part of the transaction, Cleanaway has committed to redevelop the Dynon Road waste transfer station into a larger, efficient, modern post collections facility. This is expected to cost the company approximately $35 million. An additional $10 million contribution will be made from the City of Melbourne over the first four years of Cleanaway’s ownership.
Citywide Waste generated EBITDA of $10.7 million and EBIT of $6.4 million in the twelve-month period ending February 2024.
‘Valuable efficiences’
The ASX industrial stock’s CEO, Mark Schubert, believes the acquisition represents an attractive expansion opportunity. He said:
This transaction represents an attractive opportunity to expand our Solid Waste Services business in metropolitan Melbourne. Integrating Citywide Waste into our network is expected to deliver valuable efficiencies, while facilitating growth through the broadening of our municipal and C&I collections capabilities. The re-development of Dynon Road will almost double its current operating capacity, unlocking attractive earnings growth for shareholders. It will also support future volume growth into our post collections infrastructure assets.
Schubert also highlights that the Dynon Road acquisition aligns with its BluePrint 2030 strategy. He adds:
Securing this site in inner-city Melbourne provides a strategic position in the densely populated Melbourne metropolitan area and aligns with our approach of using M&A to accelerate the delivery of our BluePrint 2030 strategy. We are confident that the acquisition of this unique asset will deliver attractive returns to shareholders over the life of the lease.
The acquisition remains subject to a range of conditions precedent including ACCC regulatory approval.
Cleanaway shares are up 8% over the last 12 months.
Should you invest $1,000 in Cleanaway Waste Management Limited right now?
Before you buy Cleanaway Waste Management 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 Cleanaway Waste Management Limited wasn’t one of them.
The online investing service heâs 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…
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.
My favourite method for outperforming the market is to pinpoint ASX shares with strong profit growth potential that the market undervalues.
The ASX’s good technology businesses are capable of producing good profit growth, but they’re also valued with higher forward price/earnings (P/E) ratios than other sectors.
There are companies in other sectors that are just as capable of producing pleasing profits, but these businesses aren’t valued as highly.
Recently, I’ve invested in these two stocks because I’m optimistic about their earnings growth outlook.
Collins Foods is a franchisee operator of a large number of KFC restaurants in Australia and Europe.
I think KFC is a strong brand that can deliver long-term success in Collins Foods’ operational markets.
Collins Foods is growing by expanding its store networks and achieving same-store sales (SSS) growth.
In the FY24 first-half result, KFC Australia reported SSS growth of 6.6%, and KFC Europe saw SSS growth of 8.8%. If SSS growth continues to be healthy, this can help drive the business’ margins higher.
The estimates on Commsec suggest Collins Foods’ earnings per share (EPS) could rise 44% between FY24 and FY26. The forecast would put the current Collins Foods share price at under 13x FY26’s estimated earnings â that looks very cheap to me for a growing business.
Close The Loop’s core offering is to collect and repurpose products with takeback programs in the US, Australia, South Africa and Europe. The ASX share’s overall premise is for there to be “zero waste to landfill” with the products it deals with.
The company recovers a wide range of electronic products, print consumables, cosmetics, plastics, paper, and cartons. It also uses toner and post-consumer soft plastics as asphalt additives.
According to the company, another service that it provides is sustainable packaging products with its packaging division, which enables “greater recoverability and recyclability”.
The ASX share recently announced it was exploring IT refurbishment expansion opportunities in the US, EU and Middle East. Its print consumable takeback program has been expanded into Spain and Portugal, with HP joining the program. The company revealed a new IT refurbishment plant in Mexico will be operational by October 2024. It’s also constructing a second TonerPlas line after the awarding of $2.2 million in government funding.
The company’s FY24 first-half result saw revenue increase by 76% year over year to $103 million, the gross profit margin increase from 32.8% to 36.2%, EBITDA grow by 139% to $22.7 million, and underlying NPAT jump by 164%.
According to Commsec, the Close The Loop share price is valued at just 7x FY24’s estimated earnings and EPS is predicted to grow by 23% between FY24 and FY26.
Should you invest $1,000 in Collins Foods Limited right now?
Before you buy Collins Foods 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 Collins Foods Limited wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Tristan Harrison has positions in Close The Loop and Collins Foods. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Close The Loop. The Motley Fool Australia has recommended Close The Loop and Collins Foods. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.