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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.

What happened

Shares of Snap Inc (NYSE: SNAP) plummeted on Tuesday, falling as much as 40.7%. As of 10:48 a.m. ET, the stock was still down 40.4%.

The catalyst that sent the social media company plummeting was a profit warning that set off alarm bells about the state of the economy.

So what

In a regulatory filing after the market close on Monday, Snap — the parent of Snapchat — warned that the economic picture had become much more uncertain, causing the company to rein in both its revenue and profit guidance for the second quarter.

In a statement, the company said:

Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will report revenue and adjusted EBITDA below the low end of our Q2 2022 guidance range.

Management went on to say that the company remains “excited” about the “long-term opportunity” ahead. “Our community continues to grow, and we continue to see strong engagement across Snapchat, and continue to see significant opportunities to grow our average revenue per user over the long term.”

Now what

Following the profit warning, analysts scrambled to adjust their models to fit the changing economic paradigm. There was a raft of outlook adjustments, as no fewer than a dozen of Wall Street’s finest lowered their price targets on Snap.

Perhaps more telling, however, was the fact that none of the analysts downgraded Snap’s stock, which is decidedly bullish. Truist analyst Youssef Squali’s take was the most upbeat, telegraphing a long-term view.

He pointed out that while the outlook is disappointing, he expects the situation to be temporary, according to The Fly. He cited the company’s strong fundamentals and the increasing adoption of its first-party data measurement by advertisers. Squali also said that the growing adoption of Snapchat products by its users, including Map and Spotlight, as well as the continuing growth of its daily active users as signs that the current situation is transitory. 

Taking a long-term view is difficult on days like today, but given the growing opportunity and underlying strength of its business, Snap investors will likely look back on today as a chance to buy shares on the cheap.

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

The post Why Snap stock cratered on Tuesday appeared first on The Motley Fool Australia.

More reading

• Here’s why ASX 200 tech shares are under pressure on Tuesday
• Snapchat share price dives 30% pulling Nasdaq futures lower

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

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The Nanosonics Ltd (ASX: NAN) share price is dropping on Wednesday.

In morning trade, the infection prevention company’s shares are down 1.5% to $3.74.

Why is the Nanosonics share price falling?

The weakness in the Nanosonics share price on Wednesday has been driven by the release of a business update.

This update was in relation to the company’s direct sales model transition in North America which was announced in February.

According to the release, the direct sales model transition is progressing well with the transfer of GE customers currently in progress and a significant number of accounts already set up by Nanosonics.

The release notes that GE has been supporting Nanosonics with the transition by communicating with all of their trophon customers about the new arrangements being implemented for the ongoing provision of trophon products.

Furthermore, the relevant GE customer data has been supplied to Nanosonics and the company has communicated with all these customers to set up direct trading accounts. A significant number of these accounts are now in place. Management expects that the transition will be completed for the majority of customers by 30 June 2022.

Also supporting the transition will be a number of former GE High Level Disinfection team members that have joined Nanosonics. These include the previous Head of the GE High Level Disinfection team, a GE operations lead who was responsible for the supply and logistics of trophon products to all GE customers, and a number of sales managers.

Trading update

During the third quarter, Nanosonics’ global installed base grew to 28,900. This is up a modest 2.6% from 28,160 units at the end of December. It could be this slowing growth that is weighing on the Nanosonics share price today.

Nevertheless, management expects its full-year revenue to be in line with current market consensus estimates.

Nanosonics’ Chief Executive Officer and President, Michael Kavanagh, commented:

The continued transition to a more direct sales channel model in North America brings many benefits to Nanosonics and its customers. Our North American team can now manage the overall growth strategy associated with new installed base, upgrade adoption and consumables usage. This deeper relationship with our North American customers together with our corresponding infrastructure expansion also supports planned product expansion beyond trophon.

We are very pleased with the ongoing progress being made with the transition to the updated sales model. Our North American team and the GE healthcare ultrasound team continue to collaborate well ensuring the current and future infection prevention needs of all customers and their patients are fully met.

The post Nanosonics share price slides lower on business update appeared first on The Motley Fool Australia.

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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 Nanosonics Limited. The Motley Fool Australia has positions in and has recommended Nanosonics 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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Lithium carbonate prices have levelled off in recent weeks and now trade at 475,500 yuan/tonne at last check.

Despite a small reversal period, prices for the white salt – which is widely used to make cathode material for lithium-ion batteries when in ‘battery grade’ form – are holding multi-year highs on Wednesday.

New bulls arrive for ASX 200 lithium shares

Analysts at Barrenjoey Markets are heavily bullish on three leading ASX 200 lithium shares.

The broker has initiated coverage with buy calls on each of IGO Ltd (ASX: IGO), Allkem Ltd (ASX: AKE) and Liontown Resources Ltd (ASX: LTR).

It values IGO at $14.50 per share and starts Allkem at $15 while assigning a $1.80 price target for Liontown.

For each of these players, this represents a double-digit upside potential should Barrenjoey’s forecasts come to fruition.

Allkem also received an upgrade from Cowen with an $18 per share valuation, whereas analysts at UBS completely reversed course from a sell to a buy rating on IGO.

In a recent note, the Swiss investment bank was constructive on a number of catalysts, including IGO’s first production of battery-grade lithium hydroxide at Kwinana, the Western Areas transaction and a recent pullback in the share price.

Not only that, but IGO’s exposure to the Greenbushes mine remains a key driver for the miner’s share price, UBS says.

“As the downstream ramps up Greenbushes remains the earnings driver into,” it said, adding that the joint venture with Tianqi is substantially de-risked with the Kwinana update.

UBS values IGO at $12.15 per share.

Foolish summary

Each of these ASX 200 lithium shares has pushed well into the green over the past 12 months. Liontown is up 240% in a year whereas Allkem has surged 120% and IGO 62%.

The post Brokers name 3 ASX 200 lithium shares primed to take off appeared first on The Motley Fool Australia.

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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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You may be having difficulty finding the latest share price moves for Woodside Petroleum Ltd (ASX: WPL) this morning.

That’s because the S&P/ASX 200 Index (ASX: XJO) energy giant is trading under its new name and ASX ticker today, Woodside Energy Group Ltd (ASX: WDS).

When was the name change revealed?

The company officially announced the rebranding last Friday. This came on the heels of shareholders’ sweeping approval of Woodside’s proposed merger with  BHP Group Ltd‘s (ASX: BHP) petroleum business.

98.66% of the submitted votes were in favour of the merger. The company expects the merger to be complete by 1 June.

Are Woodside Energy and Woodside Petroleum different?

The new name reflects not just the pending merger with BHP’s petroleum assets, but also the company’s plans to play a major role in the global energy transition.

Commenting on the reasoning behind the rebranding at last week’s annual general meeting, chair Richard Goyder said the company “aims to thrive in the energy transition as a low-cost, lower-carbon energy provider”.

According to Goyder, the name change was made “to better reflect our long-term strategic direction and anticipated portfolio evolution through the energy transition”.

Woodside CEO Meg O’Neill lauded the proposed merger with BHP’s petroleum arm, saying, “The merger is an opportunity for Woodside to increase its contribution to the world’s growing energy needs and build the scale, resilience and diversity to thrive through the energy transition.”

She also reflected on the company’s strong performance and commitment to emissions reductions.

On the financials, O’Neil noted, “We generated an operating cash flow of US$3.8 billion, a 105% increase from 2020, strengthening our balance sheet and financial position. We finished the year with more than US$6 billion of liquidity and also maintained our investment-grade credit rating.”

And on the environmental front, O’Neil added:

We have near- and medium-term targets to reduce our net equity Scope 1 and Scope 2 greenhouse gas emissions by 15% by 2025 and 30% by 2030, in support of our aspiration of net zero emissions by 2050 or sooner. Our 2021 net equity Scope 1 and 2 greenhouse gas emissions were 10% below the 2016-2020 gross annual average and on course to achieve our 2025 target.

Woodside share price snapshot

Woodside shareholders have enjoyed some strong returns this year, with shares up 27.9% in 2022 amid rocketing energy costs. By comparison, the ASX 200 is down 5.9% year-to-date.

The post What exactly is the difference between Woodside Energy (WDS) and Woodside Petroleum (WPL)? appeared first on The Motley Fool Australia.

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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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Owners of Westpac Banking Corp (ASX: WBC) shares might want to keep their eyes peeled after reports the sale of the bank’s superannuation business is about to go public.

Rumours the sale of BT Super – which reportedly manages $45.4 billion – is about to go public hit headlines yesterday afternoon.

In early trade on Wednesday, the Westpac share price is climbing, up 2.17% to $24.05.

Let’s look at the news that has put the bank in the headlines this week.

Has Westpac sold its super leg?

Westpac shares could be in the spotlight amid reports Mercer is gearing up to announce its acquisition of the bank’s superannuation platform.

The corporate super fund was tipped as the business’ buyer by The Australian yesterday afternoon.

The purchase will reportedly see Mercer pushing customers from Westpac’s platform to its own, therefore doubling its size in corporate and retail super.

Mercer is also said to be acquiring Westpac’s Advance Asset Management business.

Westpac continues to work towards offloading its BT Panorama wealth management platform, of which BT super is a part.

The Australian claims that Commonwealth Bank of Australia (ASX: CBA)’s partly owned Colonial First State is in the lead to win the platform.

Previously, AMP Ltd (ASX: AMP) was rumoured to be involved in acquisition talks for the platform.

Offers for BT Panorama have been around $1 billion, according to the publication.

Westpac share price snapshot

The Westpac share price is outperforming all of its ASX 200 big four peers so far this year.

It has gained 12.6% year to date.

The S&P/ASX 200 Index (ASX: XJO) has slipped 3.6% in that time. Meanwhile, the next best performing big four bank – National Australia Bank Ltd (ASX: NAB) – has recorded a 9.78% gain.

Though, the Westpac share price has fallen around 8.5% since this time last year.

Only Australia and New Zealand Banking Group Ltd (ASX: ANZ) has recorded a worse slip. It has tumbled 9.3% over the last 12 months.

The post Own Westpac shares? Here’s why the bank’s $45b super business is hitting headlines appeared first on The Motley Fool Australia.

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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 recommended Westpac Banking Corporation. 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 APA Group (ASX: APA) share price has shaken off this morning’s dip amid news the company has made a leap towards growing its East Coast Gas Grid.

The gas pipeline operator has embarked on the second stage of its network expansion which aims to add around 13% of capacity for Australia’s southern states by winter 2024.

At the time of writing, the APA share price is $11.59, the same as its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is in the green this morning. It’s currently up 0.43%.

Additionally, APA’s home sector – the S&P/ASX 200 Utilities Index (ASX: XUJ) – is recording a 0.39% gain.

Let’s take a closer look at today’s news from the energy infrastructure company.

APA embarks on expansion’s second stage

The APA share price recovered from an early plunge on Wednesday as the company works to address potential shortages of gas in south-eastern states.

The Australian Energy Market Operator recently flagged shortfalls of gas might be felt in Victoria, the ACT, New South Wales, and Tasmania in extreme weather from as early as 2023.

APA’s network expansion aims to address such concerns, adding 25% of capacity at a total investment of around $270 million.

The first stage – set to add 12% of capacity – is already under construction and should be finished before winter 2023.

The second stage will see APA working on the South West Queensland Pipeline and Moomba Sydney Pipeline. It’s set to be completed by winter 2024.

The two pipelines deliver gas from Queensland and the NT to southern markets.

APA CEO and managing director Rob Wheals commented on today’s news, saying:

APA is playing a critical role in delivering additional energy security for southern gas markets ahead of forecast supply risks … Pipeline gas is also lower emissions than gas proposed to be supplied by east coast LNG import terminals, and more cost effective given the strong global demand for LNG.

APA share price snapshot

The APA share price has outperformed the ASX 200 over 2022 so far.

Right now, the stock is 15% higher than it was at the start of this year. Over the period, the index has tumbled 5.7%.

APA’s shares are also trading for 22% more than they were this time last year. Meanwhile, the ASX 200 is flat.

The post Why is the APA share price lifting on Wednesday? appeared first on The Motley Fool Australia.

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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 positions in and has recommended APA Group. 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 Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is breathing a sigh of relief after publishing its results for the full year ending 31 March 2022.

At the time of writing, shares are swapping hands at $18.89, 0.9% above their previous closing price.

Fisher & Paykel share price lifts on

• Total operating revenue down 15% compared to the prior corresponding period to $1.68 billion
• Net profit after tax (NPAT) down 28% to $376.9 million
• New application consumables revenue up 3% on a constant currency basis
• Research and development investment of $154 million
• Declared final dividend of 22.5 cents per share, up 2% from the prior year
• Total dividends for the financial year up 4% to 39.5 cents per share

What else happened during the year?

For the 12 months ended 31 March, Fisher & Paykel incurred a 15% decline in revenue to $1.68 billion. However, the company highlighted the unprecedented nature of the previous financial year during the peak of COVID-19. As such, Fisher & Paykel noted that the latest revenue result still represents a 33% stronger outcome than the pre-COVID-19 financial year.

The pandemic acted as a major catalyst for increased sales of various respiratory apparatuses. Furthermore, the company is building upon this success with the launch of two new nasal high flow interfaces, Optiflow Switch and Optiflow Trace.

With regards to profits, gross margin was reduced by 59 basis points to 62.6% during the year. Higher freight costs led to an increase in the use of air freight, resulting in margin pressure.

What did management say?

Commenting on the full-year result, Fisher & Paykel managing director and CEO Lewis Gradon said:

Over the last two financial years, we have supplied $880 million of hospital hardware, the equivalent of approximately 10 years’ hardware sales prior to COVID-19. The growing body of evidence supporting the use of nasal high flow and our other respiratory therapies shows that our products have a clear role to play in improving care and outcomes beyond COVID-19 patients. We have a proven fifty-year track record of changing clinical practice and now we have the additional benefit of customers already having our hardware and clinical experience with its use.

Overall, management reflected positively on its latest performance. However, the path forward appears to be cloudy for the company.

What’s next?

Looking forward, the Australian healthcare giant is taking a cautionary stance. According to the company, COVID-19 instances have possibly peaked, which leaves Fisher & Paykel expecting hospital hardware revenue to slow down in FY2023.

Moreover, management refrained from providing future guidance due to ongoing uncertainties. Although, freight costs are anticipated to remain elevated for the time ahead. In light of this, Fisher & Paykel is holding higher levels of inventory to negate freight issues.

Fisher & Paykel share price snapshot

Amid a cooling in sales growth, the Fisher & Paykel share price has tumbled throughout the front end of this year. Since the turn of 2022, shares in the respiratory device manufacturer have diminished by 39% in value.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has fallen nearly 6% — which is still 33% better than the healthcare company.

The post Fisher & Paykel share price exhales following ‘strong’ full-year results appeared first on The Motley Fool Australia.

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• Why BrainChip, Coles, Fisher & Paykel Healthcare, and PolyNovo shares are rising
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Motley Fool contributor Mitchell Lawler 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 Aristocrat Leisure Ltd (ASX: ALL) share price has stormed 8.8% higher following the company’s half-year results last week.

This is despite the gaming technology company’s shares edging 3.94% lower to $34.40 apiece at yesterday’s market close. At the time of writing, the Aristocrat share price was down another 1.05% to $34.04 in Wednesday morning trading.

A quick breakdown on the Aristocrat half-year result

In the half-year report for the 2022 financial year, Aristocrat reported strong growth across key metrics.

In summary, operating revenue surged by 23.1% to $2,745.4 million over the previous corresponding period. Aristocrat stated the robust result was driven by its outstanding performance in gaming operations and outright sales.

Notably, the improved numbers offset the mixed operational conditions and challenges that the company faced. This included the Russian war in Ukraine, an industry-wide moderation in overall mobile game demand post COVID-19, and ongoing global supply disruptions.

On the bottom line, profit after tax rose to $513 million, up 48.1% from this time last year.

Based on the company’s cash profit above, the Aristocrat Board declared a fully franked interim dividend of 26 cents per share. This represents a 73.3% lift from the 15 cents declared in the prior comparable period.

Management noted that cash returns via dividends to shareholders are based on a discretionary dividend policy. Periodic reviews are often conducted to ensure the capital allocation framework is sound and the balance sheet provides strategic optionality.

Here’s what you need to do to secure the Aristocrat dividend

The Aristocrat interim dividend will be paid to eligible shareholders around five weeks away on 1 July.

However, to be eligible, you’ll need to own Aristocrat shares before the ex-dividend date which falls on 26 May. This means if you want to secure the dividend, you will need to purchase Aristocrat shares today at the latest.

While there is a dividend reinvestment plan (DRP) in place, the board decided to keep it inactive for the interim dividend.

The post Looking to secure the Aristocrat biggest-ever dividend? Here’s what you need to do appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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 Sayona Mining Ltd (ASX: SYA) share price has been having a tough time this week.

Since the end of last week, the lithium share has lost 28% of its value.

This follows the release of a disappointing pre‐feasibility study (PFS) for the 75% owned North American Lithium (NAL) operation in Québec, Canada.

That study revealed a net present value of the project that was well short of the market’s expectations.

Sayona Mining share price halted

The Sayona Mining share price won’t be continuing its slide on Wednesday after the company requested a trading halt.

According to the request, Sayona Mining has requested the immediate halt pending the release of an announcement regarding a capital raising.

It has requested the trading halt remain in place until the earlier of the release of the announcement or the commencement of normal trading on Friday 27 May.

Capital raising

With the Sayona Mining share price down 28% this week, the timing of this capital raising is particularly disappointing for shareholders and is likely to be highly dilutive.

According to the AFR, the company is seeking to raise $190 million from investors at a price of 18 cents per new share. This represents a 12.2% discount to the last close price and a massive 35.7% discount to where the Sayona Mining share price ended last week.

The reports states that these funds will be used to support the restart of the aforementioned NAL project, development activities at its Authier mine, exploration at the Moblan project, and the assessment of downstream processing alternatives. All these activities are located in Canada’s Quebec, where the company is aiming to build a lithium hub.

The post Why is the Sayona Mining share price in a trading halt? appeared first on The Motley Fool Australia.

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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.

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The Pilbara Minerals Ltd (ASX: PLS) share price is dropping on Wednesday morning.

At the time of writing, the lithium producer’s shares are down 2% to $2.84.

Why is the Pilbara Minerals share price falling?

Investors have been selling down the Pilbara Minerals share price today despite the company announcing the results of its fifth spodumene concentrate digital auction, held via its Battery Material Exchange (BMX).

According to the release, a cargo of 5,000 dry metric tonnes (dmt) at a target grade of ~5.5% lithia was presented for sale on the platform with delivery expected from 15 June 2022.

Unsurprisingly given the insatiable demand for lithium, the company revealed that strong interest was received in both participation and bidding by a broad range of buyers.

Pilbara Minerals advised that it intends to accept the highest bid of US$5,955 per dmt, which on a pro rata basis for lithia content (inclusive of freight costs) equates to a price of approximately USD$6,586 per dmt (SC6.0, CIF China basis).

Judging by the Pilbara Minerals share price performance today, some investors may have been betting on even stronger prices.

BMX lithium prices continue to rise

This winning bid of US$5,955 per dmt represents the fourth consecutive increase in prices on the BMX.

The inaugural BMX auction in June 2021 saw Pilbara Minerals receive US$1,250 per tonne. It then commanded US$2,240 per tonne in September, US$2,350 per tonne in October, and then US$5,650 per tonne last month.

It’s unclear when the next BMX auction will take place, but all eyes will be on that one to see if this positive pricing trend continues.

In the meantime, these high prices bode well for ASX lithium shares already producing the white metal in vast quantities. These include Allkem Ltd (ASX: AKE), Mineral Resources Limited (ASX: MIN), and of course Pilbara Minerals.

The post Pilbara Minerals share price falls despite record BMX auction appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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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