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The Novonix Ltd (ASX: NVX) share price struggled through last month despite the company staying mostly silent.

As of the final close of May, the Novonix share price was swapping hands for $4.09. That’s 22% lower than it ended April.

For context, the S&P/ASX 200 Index (ASX: XJO) slipped 3% over the same period.

Let’s take a closer look at what went wrong for the battery materials and technology company’s share price in May.

What weighed on Novonix’s stock in May?

The Novonix share price was battered by the market in May. Its tumble followed the release of its quarterly report on April’s final day of trade.

The company dropped its activities and cash flow reports for the March quarter on 29 April.

While the Novonix share price lifted 3% that day – likely due to the company’s revenue growth – it tumbled 4% the following session.

And the stock’s performance didn’t improve much from then on. It was dragged lower alongside many of its S&P/ASX 200 Information Technology Index (ASX: XIJ) peers amid an international tech sell-off.

In fact, the ASX 200 info tech sector slipped 8.7% last month while the tech-heavy Nasdaq Composite dumped 2%.

Unfortunately for Novonix investors, the company’s stock is particularly vulnerable to market volatility due to its valuation, as The Motley Fool Australia’s James Mickleboro reported last month.

The only news issued by the company last month detailed the exit of a key board member.

Trevor St Baker – billionaire and founder of Novonix investor St Baker Energy Innovation Fund (SBEIF) – stepped down from the company’s board.

“My resignation should not reflect any diminution of interest by SBEIF or of the St Baker family in Novonix as a serious growth stock in our investment portfolios,” St Baker said.

The Novonix share price traded relatively flat on the day St Barker announced his resignation.

Novonix share price snapshot

Novonix’s stock’s poor performance in May added to its recent struggles.

Right now, the company’s share price is 65% lower than it was at the start of this year. However, it has gained 53% since this time last year.

The post Why did the Novonix share price tumble 22% in May? appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares in May
• Here are the top 10 ASX shares today
• Why is the Novonix share price leaping 10% on Monday?
• 3 ASX 200 shares off to a cracking start to the week
• These were the worst performing ASX 200 shares last week

Motley Fool contributor Brooke Cooper 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.

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The Block Inc (ASX: SQ2) share price is having a tough day on the ASX market today.

The company’s share price is currently trading at $115.32, a 4.33% fall from Wednesday’s close. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 0.97% today.

There’s no price-sensitive news released by the company today, so what could be impacting the Block share price?

US listing falls

Block shares appear to be following a similar trend to the company’s New York Stock Exchange listing today. Block Inc (NYSE: SQ) tumbled 6.4% in the United States on Wednesday. In after hours trade, the NYSE listing is slipping a further 0.62%.

But Block shares are not the only buy now, pay later (BNPL) shares suffering on the ASX today.

Zip Co Ltd (ASX: ZIP) shares are also sliding 3%, while Sezzle Inc (ASX: SZL) shares are down 2.88%. The S&P/ASX All Technology Index (ASX: XTX) is 1.74% in the red today.

Block shares fell after the Wall Street Journal expressed a dire outlook for large players in the BNPL space. The WSJ said:

Late payments or related losses are piling up for the industry’s biggest players Affirm, AfterPay and Zip Co. Their borrowing costs, meanwhile, are rising.

Further, the WSJ highlighted that BNPL companies relied on credit lines impacted by interest rates, which are rising. The publication added:

Investors, once enamored with the business, are backing away. The young industry finds itself in a tricky spot at a time when the economy is slowing and, some fear, headed for a recession.

Block acquired Afterpay shares earlier this year and listed on the ASX as Block on the first day of February.

Block share price snapshot

The Block share price has fallen 35% on the ASX in the year to date, while it is down 20% in the past month alone. In the last week, Block shares have descended by more than 5%.

For perspective, the benchmark ASX 200 index has slid nearly 4% in the year to date.

Block has a market capitalisation of about $5 billion based on the current share price.

The post Why is the Block share price tumbling 4% on Thursday? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• 3 ASX 200 shares off to a cracking start to the week
• Why Alkane Resources, Block, Bubs, and Telix shares are storming higher
• ASX 200 midday update: AGL demerger scrapped, A2 Milk jumps
• Why is the Block share price surging 8% higher today?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The CSL Limited (ASX: CSL) share price has been out of form in 2022.

Since the start of the year, the biotherapeutics giant’s shares have fallen 8% to $268.04.

Will things start to improve for the CSL share price?

While the weakness in the CSL share price in 2022 has been disappointing, one leading broker appears to see it as a buying opportunity.

A recent note out of Citi reveals that its analysts have a buy rating and $335.00 price target on the company’s shares.

Based on the current CSL share price, this implies potential upside of 25% for investors over the next 12 months.

What is the broker saying?

CSL believes that recent industry data is pointing to continued improvement in plasma collections and strong underlying demand.

The broker appears to see this as a sign that trading conditions are normalising, which will lead to the market shifting its focus from supply to demand. And with demand remaining strong, it believes this will be good news for the CSL share price.

Citi commented:

The latest quarterly results from Grifols, Takeda and Haemonetics, and recent comments from CSL are all highlighting the continued improvement in plasma collection and strong underlying demand for plasma products.

This is consistent with our view that over the next six months, we expect the market to shift its focus to the strong underlying plasma product demand, and the closure the Vifor deal, both of which should lead to strength in the share price.

Citi also feels that the market is underestimating CSL’s growth potential in the coming years and is forecasting stronger than consensus earnings.

Our FY23-24 EPS estimates remain 5-6% above consensus (we have included the Vifor consensus estimates in our forecasts). The next catalyst will be the closure of the Vifor transaction which is now expected to complete by the end of Sept (previously June).

All in all, Citi appears to believe now could prove to be an opportune time to invest based on this note.

The post What’s in store for the CSL share price in June? appeared first on The Motley Fool Australia.

More reading

• Analysts name 3 ASX 200 shares that could generate strong returns
• What happened to the CSL share price in May?
• Buy these 2 impressive ASX 200 shares in June 2022: experts
• Why is the CSL share price losing ground on Friday?
• Why I think these 3 ASX shares are top-quality buying at today’s prices

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 positions in and has recommended CSL Ltd. 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.

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Shares in Newcrest Mining Ltd (ASX: NCM) are rangebound today at $24.40, up 0.12% at the time of writing.

The Newcrest share price has been volatile in 2022, having rallied as high as $28.84 and slipped to as low as $21.50.

Meanwhile, the price of gold has been equally as volatile, having booked a circa 1% loss over the past month.

Returns for both assets for the year to date are plotted on the chart below.

JPMorgan stays overweight on Newcrest

Analysts at investment bank JPMorgan retained their overweight rating on Newcrest in a recent note, flagging several positives.

“Newcrest Mining is an ASX-listed gold producer with assets in Australia, Papua New Guinea and Canada,” the team noted.

They feel positive about the potential Brucejack Mill expansion but also cited potential cost pressures across the businesses as a potential headwind.

Despite Newcrest being the broker’s “…bottom pick in [its] gold coverage…on a forced ranking…”, it still finds Newcrest attractive. The team said the stock offered a potential “FY23E EV/EBITDA of 5.5x, P/NPV of 0.86x and solid 6.3% free cash flow yield”.

According to the broker’s note:

Newcrest’s portfolio is underpinned by the world-class Cadia Valley Operations in central-west New South Wales. NCM also operates the Lihir gold operation on Lihir Island off the coast of Papua New Guinea. We have an Overweight rating on the stock, based on valuation.

The JPMorgan team values Newcrest Mining at $30 per share, slightly behind the consensus price target of $30.37, according to Bloomberg data.

From that list, 47.1% of brokers covering Newcrest rate it as a buy or hold.

Newcrest share price snapshot

In the past 12 months, the Newcrest share price has slipped by more than 13%.

It has lost 8% in the past four weeks.

The post Here’s why JPMorgan is bullish on the Newcrest share price appeared first on The Motley Fool Australia.

More reading

• UBS warns of more downgrades for ASX 200 shares… but not all
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• What’s the outlook for ASX 200 gold shares in June?
• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Zach Bristow 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.

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ASX lithium shares took an absolute hammering yesterday.

And that’s no hyperbole.

Having delivered some of the biggest gains on the index over the past 12 months, yesterday saw some leading ASX lithium shares lose almost a quarter of their value. And most every explorer and producer of the critical battery metal was down at least 10% by the closing bell.

Here’s how some of the top ASX lithium shares fared:

• Allkem Ltd (ASX: AKE) closed down 15.4%
• IGO Ltd (ASX: IGO) closed down 12.7%
• Pilbara Minerals Ltd (ASX: PLS) closed down 22.4%
• Liontown Resources Ltd (ASX: LTR) closed down 19.1%
• Core Lithium Ltd (ASX: CXO) closed down 20.8%
• Lake Resources NL (ASX: LKE) closed down 12.9%
• Sayona Mining Ltd (ASX: SYA) closed down 13.3%

Why did ASX lithium shares get smashed yesterday?

If you missed the action yesterday, the rout among ASX lithium shares looks to have been spurred on two fronts.

First, Argentina – which has some of the world’s largest lithium reserves – cited irregularities in lithium shipments over the past two years. The nation set a reference price for lithium carbonate exports of US$53 per kilogram.

Bearish sentiment on the mid-term outlook for lithium prices from Goldman Sachs also likely helped drive yesterday’s selloff among ASX lithium shares.

The closely watched broker said that despite sharply increasing global demand for lithium, “We see the battery metals bull market as over for now.”

Goldman said that too much investor money pouring into the sector has “generated an outsized supply response well ahead of the demand trend in focus. In this context, we see prices on a downward trajectory over the course of the next two years, with a sharp correction in lithium”.

There may well be a third reason for yesterday’s price falls, as reported by my Foolish colleague James.

As he noted, “Warren Buffett-backed electric vehicle company BYD is planning to buy six lithium mines in Africa.” This has the potential to add yet more supply to a potentially oversupplied market over the medium term.

Bargain hunters swoop in

It’s a decidedly different picture for ASX lithium shares today.

While the S&P/ASX 200 Index (ASX: XJO) is down 0.9%, all but one of the stocks named above are in the green as some bargain hunting looks to be taking place.

Here’s how these lithium stocks are faring during mid-day trading today:

• Allkem shares are up 1.9%
• IGO shares are up 4.3%
• Pilbara Minerals shares are up 1.7%
• Liontown Resources shares are up 5.2%
• Core Lithium shares are up 5.4%
• Lake Resources shares are up 0.7%
• Sayona Mining shares are down 4.1%

The post Which ASX lithium shares are rebounding on Thursday, and which are not? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Pilbara Minerals names new CEO, Wesfarmers’ strategy update
• Is the Allkem share price selloff a buying opportunity?
• Is this the real reason ASX lithium shares cratered on Wednesday?
• Pilbara Minerals share price higher on CEO appointment
• 5 things to watch on the ASX 200 on Thursday

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.

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The Woodside Energy Group Ltd (ASX: WDS) share price is lifting on Thursday despite more than 900 million new shares in the energy giant hitting the market.

The shares were issued as part of the company’s merger with BHP Petroleum International Pty Ltd. That’s the oil and gas arm of BHP Group Ltd (ASX: BHP).

An expected selldown following their release might have been minimised by a reported block trade.

At the time of writing, the Woodside share price is $31.66, 4.84% higher than its previous close.

In earlier trading, it reached an intraday high of $32.06, up 6.2%. This is the highest price that the company has traded at since its renaming.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.92% right now. Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) is one of only two ASX sectors in the green today, gaining 2.73%.

Let’s take a closer look at what’s going on with Woodside on Thursday.

Woodside share price surges following block trade

More than 914 million new Woodside shares are being distributed to BHP shareholders today after the merger was completed.

Their release could have sparked a major sell-off event. However, a strategic block trade might have helped the now $57 billion energy monolith dodge it.

About 38 million shares in Woodside were auctioned off to institutional investors for $29.15 per share overnight, reports the Australian Financial Review (AFR). That has likely resulted in less churn of Woodside shares as BHP investors decide whether to keep or sell their allocated holdings.

Additionally, the publication noted an upcoming block trade generally sees institutional traders steering clear of the stock.

Thus, finalising the trade prior to today’s open might have helped bolster institutional interest in Woodside stock.

JPMorgan was reportedly the sole book-runner of the $1.1 billion block trade.

The broker also noted that funds overweight in the ASX 200 energy sector will need to up their holdings in the much larger Woodside following the merger, reports The Australian. That could cause demand for the energy giant’s stock to surge.

At the time of writing, more than 54 million Woodside shares have swapped hands on Thursday. That’s more than the volume traded on Monday, Tuesday, and Wednesday combined.

The post Why is the ‘new’ Woodside share price leaping 6% today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Pilbara Minerals names new CEO, Wesfarmers’ strategy update
• Top broker tips BHP share price to jump 12%
• Cashed up with massive dividends: Advisor reveals ASX share to hold for 4 years
• 5 things to watch on the ASX 200 on Thursday
• Top brokers name 3 ASX shares to buy today

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Brooke Cooper 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.

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The Mineral Resources Limited (ASX: MIN) share price is down 2.35% in early afternoontrade, currently at $57.32 per share.

The S&P/ASX 200 Index (ASX: XJO) mining services provider and lithium producer, closed down 7.7% yesterday. This followed a bearish medium term forecast for lithium prices from Goldman Sachs.

Most every ASX lithium share got hammered yesterday, and it looks like some selling pressure remains today.

Even the announcement of a new joint venture (JV) exploration agreement hasn’t been enough to lift the Mineral Resources share price this morning.

What new exploration agreement was announced?

Mineral Resources has entered into a binding term sheet with Marquee Resources Ltd (ASX: MQR) to explore for and develop lithium deposits in a JV across the West Spargoville Project, located in Western Australia.

The Mineral Resources share price is dipping despite the company earning the right to acquire an initial 25% interest in the lithium rights at the project.

To earn that interest, Mineral Resources will fund all the exploration and development costs at West Spargoville, as well as complete a feasibility study within 24 months. The ASX 200 miner will fund at least $1,000,000 of exploration and development activities by the end of this calendar year.

Commenting on the agreement, Marquee executive chairman, Charles Thomas said:

I am extremely happy to announce we are partnering with one of the most innovative and leading mining service companies and one of the world’s largest lithium producers.

Mineral Resources has an excellent track record and reputation and I am very pleased that a company of their calibre sees the same potential at WSP as the team at MQR and I do.

Reverse Circulation (RC) drilling targeting lithium at the West Spargoville is currently underway.

Mineral Resources share price snapshot

Despite this week’s selling action, the Mineral Resources share price remains up 21% since this time last year. That compares to a 4% year-to-date loss posted by the ASX 200.

The post Mineral Resources share price dips despite new lithium partnership appeared first on The Motley Fool Australia.

More reading

• Why did the Mineral Resources share price slide today?
• These were the best performing ASX 200 shares in May
• Why ASX lithium shares have ‘absolutely more room to run’ in 2022: expert
• Analysts name 2 of the best ASX lithium stocks to buy now
• Why are ASX 200 lithium shares kicking goals today?

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.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The Dow Jones Industrial Average (DJINDICES: ^DJI) slipped about 177 points today, despite a better-than-expected earnings report from Salesforce (NYSE: CRM) that pushed the stock nearly 10% higher, which was by far the biggest move of any of the Dow’s 30 stocks.

Contributing to the losses in the Dow were financials and consumer goods stocks, which struggled following a warning from JPMorgan Chase‘s esteemed CEO Jamie Dimon. The bank leader warned investors to prepare for what he described as an economic “hurricane.”

Salesforce surprises

For the first quarter of fiscal 2023, which ended on April 30, Salesforce reported diluted earnings per share of $0.03 and adjusted earnings per share of $0.98. Total revenue came in at $7.41 billion. Both adjusted earnings and revenue beat analyst estimates during a quarter with difficult economic conditions, sending shares higher. 

“Our financial results once again demonstrate the strength and durability of our business model as we continue to see strong demand from customers across the entire Customer 360 portfolio,” Salesforce’s Co-CEO Bret Taylor said in a statement.

He added: “Salesforce has become even more strategic and relevant to our customers as we are providing them with the agility and resilience they need to drive growth and efficiency in these uncertain economic times.”

Along with the strong financial results, Salesforce also raised guidance. The company now expects to generate revenue of at least $31.7 billion for the full 2023 fiscal year and adjusted earnings per share of roughly $4.75. For the current quarter, Salesforce expects adjusted earnings of at least $1.01 on revenue of at least $7.69 billion.

In a research note, Bank of America analyst Brad Sills called the results “solid” and that “renewed discipline” on core expenses should help Salesforce achieve “meaning margin expansion.”

Dimon’s warning

Although Salesforce is often seen as a precursor for tech earnings because of its reporting schedule, the positive results from the cloud software company were not enough to pull the Dow into the green. The stark warning from JPMorgan’s top executive seemed to spook investors today.

Dimon said at a conference this morning that instead of “storm clouds” ahead for the U.S. economy, he now sees a “hurricane.”

“You’d better brace yourself,” he said. “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”

Dimon’s fears stem from Russia’s ongoing invasion of Ukraine, which he thinks will have an extraordinarily negative impact on commodities such as food and oil. Dimon said he is concerned that the price of oil could rise all the way to $150 or $175 per barrel, up from just below $115, as of this writing.

Dimon is also extremely worried about the Federal Reserve’s unwinding of its nearly $9 trillion balance sheet in a process known as quantitative tightening, which will effectively drain liquidity from the economy. The Fed begins that process today and will eventually ramp up to running off $95 billion of bonds from its balance sheet every month by August. 

The Fed has never embarked on a quantitative tightening effort of such epic proportions, so it could end up having consequences that no one is prepared for and create more market volatility down the line than currently anticipated. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Dow Jones finishes in the red despite strong earnings from salesforce appeared first on The Motley Fool Australia.

More reading

• This Dow stock is soaring after hours Tuesday
• Why Apple, Meta Platforms, and Salesforce stocks plunged today

Bram Berkowitz has no position in any of the stocks mentioned. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Bank of America is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Salesforce, Inc. The Motley Fool Australia has recommended Salesforce, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Shares of Galileo Mining Ltd (ASX: GAL) have shrugged off recent selling pressure to surge more than 16% higher on Thursday.

At the time of writing, the Galileo Mining share price is trading at $1.55 apiece, as trading volume surges past 2.56 million shares early in the session.

What’s up with the Galileo Mining share price?

Investors have been bidding up Galileo Mining today, continuing the longer-term trend in its share price.

Shares had surged more than 750% to a peak of $1.70 on 27 May before consolidating back to $1.34 by close of trade yesterday.

Most recently, market pundits had rallied Galileo on the back of its latest drill results. The company had intersected the rare and precious rhodium from drilling at the Callisto discovery of the Norseman Project.

Earlier in the month, it had intersected a  major discovery of palladium-platinum-copper-nickel-sulphide to the delight of investors.

Also in May, the company earned another vote of confidence when billionaire mining prospector Mark Creasy increased his position by 3 million shares.

The legendary mining investor now has a position of more than 44.37 million shares, according to filings.

Galileo Mining share price snapshot

After a string of recent updates, the Galileo Mining share price has now soared more than 418% in the past 12 months, with a 580% gain this year to date.

The post Galileo Mining share price shrugs off market pressure, soars 16% appeared first on The Motley Fool Australia.

More reading

• Why has the Galileo Mining share price shot to the stars in May?
• 3 ASX mining shares soaring by more than 30% on Friday
• Up 700% in 2022, why the Galileo Mining share price is leaping another 36% today
• 3 ASX mining shares going gangbusters on Thursday
• Galileo Mining share price surges another 25% on ‘very important’ drill results

Motley Fool contributor Zach Bristow 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.

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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. The benchmark index is currently down 0.9% to 7,168.7 points.

Here’s what is happening on the ASX 200 today:

Pilbara Minerals shares push higher

The Pilbara Minerals Ltd (ASX: PLS) share price is recovering on Thursday. This follows a rebound in the lithium sector and news the company has named its new CEO. In respect to the latter, Pilbara Minerals revealed that it will promote its chief operating officer, Dale Henderson, to the top job. The company’s long-serving CEO, Ken Brinsden, will formally step down as CEO on 30 July.

Pro Medicus wins major contract

Weakness in the tech sector is holding back the Pro Medicus Limited (ASX: PME) share price on Thursday. The health imaging technology company’s shares are in the red today despite announcing a major contract win. According to the release, Pro Medicus has signed a $28 million, seven-year contract with Allina Health.

Wesfarmers falls on strategy update

The Wesfarmers Ltd (ASX: WES) share price is trading lower today. This follows the release of the conglomerate’s strategy update. According to a note out of Goldman Sachs, its analysts felt the update was “uninspiring at first glance.” The broker added: “There were fewer details than we had hoped for on key drivers of the growth algorithm, particularly around Bunnings and Kmart, and the presentation did not offer any aspirational outlook for API nor corporate restructuring options for Officeworks and Industrials.”

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Woodside Energy Group Ltd (ASX: WDS) share price with a 5% gain. The energy sector is the only area of the market making real progress today. Going the other way, the worst performer has been the Life360 Inc (ASX: 360) share price with a 6% decline amid broad weakness in the tech sector.

The post ASX 200 midday update: Pilbara Minerals names new CEO, Wesfarmers’ strategy update appeared first on The Motley Fool Australia.

More reading

• Why is the Wesfarmers share price slipping today?
• Is this the real reason ASX lithium shares cratered on Wednesday?
• Pro Medicus share price falls despite major contract win
• Pilbara Minerals share price higher on CEO appointment
• This is when the pain will end: expert

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

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