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The Aristocrat Leisure Limited (ASX: ALL) share price is pushing higher on Thursday.

In morning trade, the gaming technology company’s shares are up 1% to $32.32.

Why is the Aristocrat share price pushing higher?

The catalyst for the rise in the Aristocrat share price appears to have been a broker note out of Goldman Sachs.

According to the note, the broker has reinstated coverage on the company with a buy and $43.00 price target.

Based on the current Aristocrat share price, this implies potential upside of 33% for investors over the next 12 months.

What did the broker say?

Goldman is feeling very positive on the Aristocrat share price for a number of reasons. This includes its current valuation and very positive growth outlook.

The broker commented: “At current levels, we see plenty of valuation support for ALL, both in absolute and relative terms noting, especially in terms of the double-digit forecast 3yr CAGR EBIT growth out to FY24E which is ahead of the market.”

Goldman expects this strong growth to be underpinned by “its relentless commitment to D&D [design and development] particularly during the pandemic which will deliver medium-term tailwinds” and its “well diversified digital business positioned for longer term structural growth.”

In addition, the broker highlights the company’s huge (and important) opportunity in real money gaming (RMG).

It explained: “We see ALL’s strategic shift into RMG as critical over the medium to longer term given the significant runway of growth and addressable market. We see it as an opportunity to grow overall earnings, with clear synergy benefits from the overlapping content, but more importantly view it as a way to defend against potential cannibalization of its North American land based business.”

All in all, this could make the Aristocrat share price one to consider at current levels.

The post Aristocrat share price higher on bullish broker note 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 Bruce Jackson.

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The Audinate Group Ltd (ASX: AD8) share price is climbing today following the company’s release of its trading update.

At the time of writing, the media networking solutions provider’s shares are swapping hands at $6.17, up 9.40%.

What did Audinate announce?

Investors appear pleased with the company’s latest performance, driving up the Audinate share price this morning.

According to its release, Audinate reported robust growth for the March quarter, achieving unaudited revenues of US$6.5 million. While the result reflected a 7.1% decrease over the prior corresponding period (Q3 FY21), management noted it had successfully navigated around the tight chip supply.

As such, supplies of a key chip used in Brooklyn and Broadway products were replenished in March, leading to strong trading conditions in April.

Gross margin stood at 75.8%, although spot inventory purchases are yet to fully flow through to the cost of goods sold.

Audinate stated that while chip supplies continue to be constrained, it has been building its inventory of key chips. Since the end of last year, the company’s raw materials inventory balance has increased by $3.7 million.

Supply of Ultimo chips continues to be modest, constraining the number of units shipped but not significantly impacting FY22 revenue.

Furthermore, Audinate advised demand for Dante products remains strong with sales orders to be fulfilled throughout FY22 and FY23.

Its total backlog of sales orders has increased with the addition of video product orders acquired from Silex.

Management pointed out that its ability to fulfil orders has improved due to improved supply of key chips. However, manufacturing risks associated with an uncertain COVID-19 situation in mainland China remain.

Audinate CEO, Aidan Williams commented:

We have navigated what was expected to be the weakest quarter of FY22 and whilst some supply chain risks remain, we are making good progress in filling demand for Dante by replenishing our inventory of chips.

I am also thrilled to have achieved two major product milestones with the release of IFE and our first video software – both are strategically important achievements for the ongoing growth of Audinate.

Audinate share price snapshot

Over the past 12 months, the Audinate share price has lost more than 70%.

When looking at year to date, the company’s shares have fared worse, down 36%.

Based on today’s price, Audinate presides a market capitalisation of around $434.78 million.

The post Here’s why the Audinate share price is rebounding 9% today 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 positions in and has recommended AUDINATEGL FPO. The Motley Fool Australia has positions in and has recommended AUDINATEGL FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares of Bigtincan Holdings Ltd (ASX: BTH) spiked at the market open this morning, soaring 7.9% to 68 cents after the company released its quarterly earnings update for Q3 FY22.

At the time of writing, ASX investors are paying 66 cents each for Bigtincan shares, up 5.6%.

Let’s take a look at the earnings update.

Bigtincan grows cash receipts 181% year-on-year

• Total quarterly customer cash receipts of $34.3 million, an increase of 181% from Q3 FY21 (yoy)
• Cash operating payments of $33.8 million including Brainshark integration investments
• Operating cash flow positive $500,000 for the quarter. This includes $600,000 in costs related to the integration of Brainshark
• $45.4 million in cash and cash equivalents on the balance sheet.

What else happened this quarter for Bigtincan?

The company notes that it was awarded a gold medal in the 2022 ‘SoftwareReviews Sales Enablement Data Quadrant Buyers Guide Report’.

It was ranked number one by users for its vendor capabilities and product features. The company said, “this level of market validation against direct competitors shows the power for the Bigtincan platform.”

Bigtincan also invested $4.4 million in its systems infrastructure and long-term development. This compares to $4.9 million in the previous quarter. These expenses came on the back of a mammoth 181% jump in customer cash receipts yoy.

Over the quarter, the Bigtincan share price fell by 17%.

What’s next?

Regarding its outlook, the company says that it is on track to “achieve or exceed” $119 million in annual recurring revenue (ARR) and $109 million in revenue for FY22.

The company secured a number of new customers including Lumen Technologies Inc (NYSE: LUMN), Lionco Pharmaceutical Group Co Ltd (SHA: 603669), Informa PLC (LON: INF), Panasonic (TYO: 6752), Genentech, American Express Travel (NYSE: AXP), Takeda Pharmaceuticals Co Ltd (NYSE: TAK), Abbott Laboratories (NYSE: ABT), Guardian, Arctic Wolf Networks, and Clarivate PLC (NYSE: CLVT).

Bigtincan share price snapshot

In the past 12 months, the Bigtincan share price has crumbled by 31%. It is down 37% this year to date, including a 20% drop over the past four weeks.

The post Cash bonanza: Here’s why the Bigtincan share price is leaping 8% appeared first on The Motley Fool Australia.

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American Express 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 positions in and has recommended BIGTINCAN FPO. The Motley Fool Australia has positions in and has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Cettire Ltd (ASX: CTT) share price is in the green following the release of the company’s latest quarterly results.

At the time of writing, the Cettire share price is 76 cents, 3.4% higher than its previous close.

Though, earlier this morning the company’s stock was trading at a high of 88 cents, representing a 19.7% gain.

Let’s take a look at how the online luxury goods retailer performed over the 3 months ended 31 March.

Cettire share price gains 3% as revenue takes off

• $70.3 million of gross revenue – a 178% improvement on that of the prior comparable period
• $48.7 million of sales revenue – a 163% increase
• 246,880 active customers – 185% more than the third quarter of financial year 2021
• Average order value slipped 2% to $682
• Unique website visits increased 269% to reach 13.3 million last quarter

During the March quarter, Cettire fulfilled 99,671 orders, 173% more than it did during the March quarter of financial year 2021. Though, its conversion rate dipped to 0.75% – a 26% drop.

Cettire has recorded gross revenue of $224.4 million over the first 3 quarters of financial year 2022. That’s a 188% year-on-year improvement.

Its sales revenue for the first 3 quarters reached $162.4 million – a 178% increase.

Though, its average order value for the financial year so far has dipped 6% to $702.

What else happened last quarter?

Last quarter was a big one for Cettire.

It launched new mobile applications, with the aim to boost its market penetration, customer experience, retention, and conversion.

The company believes the apps will also widen its customer base and build its global brand awareness.

They provide customers with push notifications, easy checkouts, and customer ‘wish lists’. At the same time, they give the company more opportunities to employ data analytics.  

Last quarter also saw Cettire’s founder and CEO, Dean Mintz, selling down his holding in the company. Mintz sold 35 million Cettire shares for $1.35 apiece.

The company also announced it’s expanding into beauty products and plans to launch in China.

The Cettire share price fell nearly 68% last quarter.

What did management say?

Mintz commented on the company’s latest quarterly results, saying:

Our business continued to grow very strongly through [quarter 3], driven by increased site traffic, substantially higher active customer numbers and repeat purchasers, which represented more than 50% of gross revenues in the quarter.

We have driven improved marketing efficiency and conversion as we exited the quarter …

The launch of our mobile app … further extends our proprietary technology platform, whilst enhancing brand and customer experience …

In the early stages post-release, we are experiencing higher conversion rates and higher [average order value] for on-app purchases versus other channels.

Cettire share price snapshot

Safe to say, 2022 hasn’t been a great year for the Cettire share price so far.

It has fallen 79% year to date. It’s also 56% lower than it was this time last year.

The post Cettire share price surges higher as revenue rockets 178% 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 positions in and has recommended Cettire Limited. The Motley Fool Australia has recommended Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Zip Co Ltd (ASX: ZIP) share price is finally heading in the right direction again on Thursday.

In morning trade, the buy now pay later (BNPL) provider’s shares are up over 4% to $1.06.

Why is the Zip share price storming higher?

Investors have been bidding the Zip share price higher today despite there being no news out of the company.

However, it is worth noting that the tech sector is performing a lot more positively today. For example, the S&P/ASX All Technology Index is up 0.4% at the time of writing.

And while the tech focused Nasdaq index was flat during overnight trade, futures contracts are pointing to a much-improved night of trade on Thursday. According to CNBC, futures are currently pointing to the Nasdaq index opening 1.2% higher.

This appears to have been driven by the release of a stronger than expected quarterly update by Meta (Facebook), which has boosted investor sentiment.

What else could be boosting Zip’s shares?

With the Zip share price falling to a new multi-year low on Wednesday, it’s possible that some investors believe its shares have been oversold and are buying them today.

Especially given that many of the most bearish brokers have price targets in or around the current level. While price targets are liable to change, as we see quite often, there may be some investors that finally believe a bottom has been found for the Zip share price.

Time will tell if that is the case.

The post Zip share price finally rebounds with its first positive session in 5 days 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 Bruce Jackson.

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The Paladin Energy Ltd (ASX: PDN) share price is in retreat, down 3%

Paladin closed yesterday at 83 cents per share and is currently trading for 80 cents.

Below we look at the highlights from the ASX uranium explorer and producer’s quarterly report for the 3 months ending 31 March.

What happened during the quarter?

The Paladin Energy share price is dipping after the company updated the market on its ongoing works to restart the Langer Heinrich Mine, which remained on care and maintenance during the quarter.

To that end, Paladin executed a fully underwritten $200 million institutional placement during the past quarter to fund the restart and recommence uranium production at the mine, located in Namibia.

On 31 March the company also announced a share purchase plan intended to raise another $15 million. The share purchase plan closed this past Tuesday, 26 April.

The mine restart project is slated to formally commence in July with early works activities to kick off right away. Paladin expects the mine to return to uranium production in 2024.

On other fronts, the company said it is continuing to progress with its “significant exploration portfolio” in Australia and Canada. It also continues to engage with global nuclear energy utilities.

As at 31 March Paladin Energy held cash of US$38.8 million, not including the proceeds from its institutional placement.

What did management say?

Commenting on the quarter gone by, Paladin Energy’s CEO, Ian Purdy said:

With the strength of the company’s existing uranium sales offtake with CNNC combined with the recent successful tender award and the continuing strong uranium market fundamentals, Paladin can now confidently work towards a formal commencement of the Langer Heinrich Mine Restart Project.

The extensive workstreams we have conducted reinforce our confidence in Langer Heinrich as a low risk, robust, long-life operation that is poised to take advantage of the improving uranium market conditions and deliver sustainable value creation for all of our stakeholders.

Paladin has an offtake agreement with CNNC Overseas Uranium Holding Limited for up to 25% of the Langer Heinrich future life-of-mine production.

Paladin Energy share price snapshot

The Paladin Energy share price was a strong performer over the past 12 months, gaining 112%. By comparison, the All Ordinaries Index (ASX: XAO) is up 4% over the past year.

The post Paladin Energy share price dips as investors await restart of uranium mine 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 Bruce Jackson.

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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

After a massive 12% sell-off Tuesday, shares of leading electric vehicle maker Tesla (NASDAQ: TSLA) were slightly rebounding Wednesday morning. Tuesday’s crash came as investors processed the news that the board of Twitter (NYSE: TWTR) had agreed to sell the social media company to Tesla CEO Elon Musk for $44 billion.

That news rattled Tesla investors initially, but they appear to be regaining some of their optimism about the EV stock again. As of noon ET, Tesla shares were up by about 2.7%.

So what 

Some investors appear to be concerned that Musk — who also leads the space exploration company SpaceX and is deeply involved in other start-ups — could divert too much of his attention away from Tesla and toward Twitter. 

They are also likely concerned about the way the EV company’s stock will be tangled up with the Twitter deal: Musk will put up tens of billions of dollars worth of Tesla shares as collateral for the loan he’s taking out to partially finance the purchase. Wedbush analyst Daniel Ives highlighted this issue in an investor note Wednesday, and said that the Twitter transaction “was never ideal” for Tesla investors. 

Given all that, it’s possible that bargain-hunting investors picking up shares on the dip are driving Tesla’s moderate share price rise Wednesday. 

Now what 

While it’s not surprising that some traders have been concerned about what Musk’s Twitter purchase will mean for Tesla, I think investors are right to be ignoring some of the harshest takes on the stock right now. 

Musk is clearly committed to the EV company, and even as he’s put time into launching and managing other businesses, Tesla has still grown at a rapid pace. While it’s likely that Musk will assert considerable influence over Twitter, he’s also said that he won’t join the social media company’s board. 

All of which means that investors probably shouldn’t be too concerned that too much of Musk’s attention will be taken away from Tesla. 

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

The post Why Tesla stock is bouncing back today appeared first on The Motley Fool Australia.

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Chris Neiger 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 Tesla and Twitter. 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 Bruce Jackson.

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

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The fund management business BetaShares has come out with some suggestions for exchange-traded funds (ETFs) that could protect against inflation.

BetaShares chief economist David Bassanese notes there has been a shift in global interest rate expectations since last year, with interest rates in the United States now expected to reach 1.9% by the end of the year and 2.8% by the end of 2023.

With global inflation spurred on by the Russian invasion of Ukraine, Mr Bassanese has pointed to some ASX ETFs in the commodities sector that may be of interest to investors in this inflationary environment.

Commodity ETFs

The four ETFs that BetaShares refer to relate to global energy, gold and food producers, and Australian resource companies.

They include:

• BetaShares Global Energy Companies ETF (ASX: FUEL)
• BetaShares Australian Resources Sector ETF (ASX: QRE)
• BetaShares Global Gold Miners ETF (ASX: MNRS)
• BetaShares Global Agriculture Companies ETF (ASX: FOOD)

Mr Bassanese said these ETFs had been performing thanks to the strength of oil, gold, food, and iron ore prices. More broadly, many commodity shares were performing well.

BetaShares said that valuations were “still attractive” when looking at price to earnings (p/e) ratios compared to long-run averages.

However, commodities aren’t the only industry that BetaShares said could benefit in the current environment.

Global banking ETF

The other high-performance area was the global banking sector.

Mr Bassanese said that the banking sector “tended to do relatively well in an environment of rising interest rates”, referring to the BetaShares Global Banks ETF (ASX: BNKS) for these inflationary times.

The BetaShares chief economist said:

This is because rising rates tend to be associated with stronger profits margins as medium-term bank lending rates tend to widen by more than the cost of short-term funding costs. Rising credit demand due to strong economic growth also tends to be supportive of global banks.

Mr Bassanese wrote that the same attractive valuation argument was also broadly held for the financial sector.

Australian interest rates to increase?

Mr Bassanese said that he expected Australian interest rates to rise by 15 basis points next week, which is early May 2022. He said it made sense for the RBA to “start off slow”, with another 25 basis point increase expected in June.

Interest rates are being increased by several central banks around the world, including the US Federal Reserve.

The post 5 ASX ETFs to combat inflation: fund manager appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended BetaShares Global Banks ETF – Currency Hedged and BetaShares Global Energy Companies ETF – Currency Hedged. 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 Bruce Jackson.

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The Cochlear Limited (ASX: COH) share price is trading lower on Thursday morning.

At the time of writing, the hearing solutions company’s shares are down 1% to $228.92.

Why is the Cochlear share price falling?

Investors have been selling down the Cochlear share price on Thursday following the release of an acquisition announcement after the market close yesterday.

According to the release, Cochlear has agreed to pay A$170 million to acquire cochlear implants and bone conduction hearing solutions provider Oticon Medical from Denmark-based hearing health care company Demant. This follows Demant’s decision to exit its hearing implants business activities.

As part of the transaction, Cochlear has agreed to provide ongoing support for Oticon Medical’s base of more than 75,000 hearing implant recipients, which includes cochlear and acoustic implants.

Though, the deal still has a few closing conditions to satisfy before it completes. These include customary closing conditions and the receipt of competition approvals in jurisdictions where the transaction meets relevant notification thresholds.

If all goes to plan, the acquisition will be funded from its existing cash balances and is expected to close in the second half of 2022.

What’s has been the reaction?

According to a note out of Goldman Sachs, its analysts appear to believe the deal could be a good one. And while it won’t make much of a difference to its market share, the broker highlights that it provides greater scale and supports industry pricing.

Goldman commented: “[G]reater scale would allow COH to further re-invest into product development (as it has traditionally done) which would further entrench the company’s market position. The acquisition of Oticon would likely also be supportive of industry pricing, given that Oticon was previously considered to be one of the market challengers with below industry average pricing.”

Management commentary

The market doesn’t appear as convinced based on the Cochlear share price performance. Particularly given that the acquired business is currently operating at a loss.

Nevertheless, Cochlear’s CEO and President, Dig Howitt, is very positive on the deal. He said:

“The acquisition of Oticon Medical will provide us with greater scale and will enable us to increase our investments in R&D and market growth activities. While Cochlear is a market leader in implantable hearing, we are a small player in the hearing loss segment where hearing aids remain the primary treatment option.

Our goal is to improve the penetration of implantable hearing solutions, building customer awareness and confidence, and offering more patients hearing solutions best suited to their individual needs.”

Mr Howitt also addressed the lack of profits from Oticon Medical. He added:

“Oticon Medical is expected to add AUD75‐80 million to annual revenue. The business is currently loss making. Our priority post‐closing of the transaction will be to determine and implement a plan that returns the business to profitability as quickly as possible. Integration costs, which include the development of compatible next generation sound processors, are yet to be determined and could range from $30‐60 million. We continue to target a long‐term net profit margin of 18%.”

The post Cochlear share price falls on ‘loss making’ Oticon Medical acquisition 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 Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Fortescue Metals Group Limited (ASX: FMG) share price is rising on Thursday morning.

In early trade, the iron ore miner’s shares are up 3% to $20.75 following the release of a mixed third quarter update.

Fortescue share price higher on Q3 update

• Iron ore shipments up 10% year on year to 46.5 million tonnes (mt)
• Average revenue up 34% quarter on quarter to US$99.52 per dry metric tonne (dmt)
• C1 costs up 3% quarter on quarter to US$15.78 per wet metric tonne (wmt)
• Net debt of US$2.4 billion
• Shipments guidance upgraded to between 185mt and 188mt
• C1 costs guidance increased to between US$15.75 and US$16.00 per wmt

What happened during the quarter?

For the three months ended 31 March, Fortescue reported a 10% year on year increase in shipments to 46.5mt. This means that shipments for the first nine months of FY 2022 have now reached a record high of 139.5mt.

Pleasingly, this shipments growth comes at a time of higher prices, with Fortescue commanding an average of US$99.52 per dmt during the quarter. This represents a revenue realisation of 70% of the Platts 62% CFR Index, which is up from 68% during the second quarter.

Partially offsetting this was a 3% quarter on quarter increase in Fortescue’s C1 costs to US$15.78 per wmt. This was driven largely by inflation across key inputs.

Management commentary

Fortescue’s Chief Executive Officer, Elizabeth Gaines, was very pleased with the company’s quarterly performance.

She said: “Fortescue’s excellent operating performance continues to drive strong results, with shipments of 46.5mt in the third quarter contributing to record shipments in the nine months to 31 March 2022. This strong performance is underpinned by the successful delivery and ramp up of the Eliwana project, and execution of our integrated operations and marketing strategy, resulting in the upgrade to FY22 shipment guidance to 185 – 188mt.”

“Against the backdrop of a record performance in our iron ore business and our focus on decarbonisation and green energy, Fortescue is well placed to finish the financial year strongly, as we continue to meet demand from our customers and deliver on our strategic priorities,” Ms Gaines added.

Outlook

As mentioned above, the company has increased its shipments guidance to between 185mt and 188mt. This compares to its previous guidance of 180mt to 185mt.

However, taking some of the shine off this was an increase to its costs guidance. Fortescue now expects its C1 costs to between US$15.75 and US$16.00 per wmt. This is up from US$15.00 to US$15.50 per wmt previously, reflecting inflation across key input costs.

And while the company has narrowed its FY 2022 capital expenditure guidance (excluding FFI) down to US$3 billion to US$3.2 billion from US$3 billion to US$3.4 billion, it has increased its Iron Bridge Magnetite project capital estimate.

The latter has been revised to US$3.6 billion to US$3.8 billion, up from its previous estimate of US$3.3 billion to US$3.5 billion. This has been driven by delays caused by ongoing supply chain issues. First production is now planned for the March 2023 quarter, instead of its previous guidance of December 2022.

The post Fortescue share price charges higher on Q3 update and shipments guidance upgrade appeared first on The Motley Fool Australia.

More reading

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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 Bruce Jackson.

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