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The Life360 Inc (ASX: 360) share price is edging higher during mid-afternoon trade. This comes after the mobile app maker provided investors with its retail entitlement offer information booklet today.

At the time of writing, Life360 shares are fetching for $12.07 apiece, up 2.29%.

Life360 begins retail entitlement offer

Investors are buying up the Life360 share price following the company’s capital raising efforts.

Last week, the company announced it successfully completed the institutional component of its fully-underwritten $280 million placement. This saw approximately $248.9 million raised from both institutional and sophisticated investors.

Life360 revealed the details of its retail component today for eligible investors.

The retail entitlement offer will see 1 new CDI share for every 15.64 Life360 CDI share owned. Each new CDI represents one third of a share of common stock in the company.

Listed at an offer price of $12 apiece, Life360 is hoping to raise gross proceeds of $31.1 million. This follows the successfully completed Institutional Entitlement Offer which received $88.7 million. Together, Costa is aiming to raise $119.8 million from both offers.

Approximately 9.98 million CDI’s will be created in the retail entitlement offer.

The closing date for the retail offer is 13 December 2021. The record date has already surpassed (25 November 2021) if you were hoping to get in on the action.

Life360 is seeking to build up its balance sheet to fund the acquisition of Tile, Inc for up to US$205 million. The global leader in finding things along with Life360’s market, will boost membership numbers for digitally native customers.

About the Life360 share price

It’s been an outstanding 12 months for the Life360 share price, accelerating by more than 200% for the period. When looking at year-to-date, its shares are up close to 220%.

Life360 presides a market capitalisation of about $1.88 billion, with approximately 156.03 million shares on its books.

The post Why is the Life360 (ASX:360) share price climbing 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. owns shares of and has recommended Life360, Inc. 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 S&P/ASX 200 Index (ASX: XJO) is having a pretty stellar day of trading this Tuesday so far. At the time of writing, the ASX 200 is up a healthy 0.98% at 7,310 points. For the ASX 200 to have such a robust gain usually means one thing — ASX 200 bank shares are having a good time of it.

That’s because the big four ASX banks, along with Macquarie Group Ltd (ASX: MQG), make up 5 of the top 7 ASX 200 shares by market capitalisation and therefore weighting. And it is proving a strong day for the ASX banks, with two notable exceptions.

The ASX 200’s largest company, Commonwealth Bank of Australia (ASX: CBA), is currently down slightly by 0.13% at $93.65 a share after rising as high as $94.99 earlier today.

Westpac Banking Corp (ASX: WBC) is also down, by 0.5% at $20.81, after going as high as $21.27 this morning.

Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares are currently up a very pleasing 1.65% at $27.06 a share.

And National Australia Bank Ltd (ASX: NAB) is presently up 1.05% at $27.48 a share.

Macquarie, which briefly overtook ANZ as the ASX 200’s fourth-largest bank earlier this month, is up 2.14% at $198.16.

So why are some ASX 200 bank shares having such a good day?

ASX 200 bank shares lead share market recovery

Well, we don’t know for sure. But we do know that ASX 200 financials shares are still one of the best performing sectors on the ASX 200 so far this Tuesday.

It’s possible these gains are the direct result of the losses ASX financials such as the banks took on Monday. Yesterday’s trading day saw the ASX 200 lose 0.4% by the closing bell, with the banks all going backwards by varying degrees. ANZ was the biggest loser, falling 1.6%.

Financial shares like the banks are notoriously cyclical and volatile, often exceeding the market’s gains or losses when either occurs. Take last year. When the COVID-induced crash hit the ASX boards, the ASX 200 lost around 33% peak-to-trough.

But the NAB share price was down by roughly 45% over the same period. NAB’s subsequent share price recovery was even more dramatic than the ASX 200’s. We could just be seeing this dynamic playing out yesterday and today on a far smaller scale with NAB and ANZ.

Out of CBA, NAB, Westpac, and ANZ, Westpac is currently leading the ASX 200 banks’ income potential, with its dividend yield of 5.67% on today’s share pricing.

The post Here’s why some ASX 200 bank shares are having a terrific Tuesday appeared first on The Motley Fool Australia.

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• At this share price, is NAB (ASX:NAB) the best big four bank to buy?
• Westpac (ASX:WBC) share price on watch amid ASIC update

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank 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 recommended Macquarie Group Limited and Westpac Banking Corporation. 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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Fund managers have been buys repositioning their ASX 200 share portfolio even before the omicron COVID-19 outbreak hit.

Capital flows have been rotating into defensives from cyclical shares on the S&P/ASX 200 Index (Index:^AXJO), reported JPMorgan.

The latest fund manager survey by the broker provides insights to where these professionals see the best value buys.

ASX 200 shares that are hot and not

“Most of the flows have been directed into defensives, with Communication Services the preferred destination,” said JPMorgan.

“This pattern is evident through the performance of Value vs. Growth, with the former underperforming sharply since mid-year (-1206bp).”

The broker noted a similar theme for global shares, but it is particularly pronounced in ASX 200 shares.

Going defensive

One beneficiary of the rotation is the Telstra Corporation Ltd (ASX: TLS) share price. The telco is trading close to a four-year high at $4.06 at the time of writing.

“A clear favourite in the defensive dial-up has been TLS, which has seen its proportion of top stock holdings rise from 3.4% in Jan-21 to 4.3% currently,” said JPMorgan.

“In addition, this move has been accompanied by an increase in the average manager OW to 180bp. Through that period, the stock has outperformed the ASX 200 by 1100bp.”

Gold is another defensive sector that’s with the “in” crowd. That makes sense given inflation fears and jitters over renewed COVID lockdowns.

The ASX 200 share that is benefitting from this thematic is the Newcrest Mining Ltd (ASX: NCM) share price. The broker noted that the gold miner entered into the “well-held” territory this month.

Another ASX 200 finding favour

Another favourite of fund managers is the Aristocrat Leisure Limited (ASX: ALL) share price. You might not think the gaming machine maker as a defensive investment, but experts are confident in its growth outlook.

“ALL has been a near-permanent member of the ‘well-held’ cohort in our Love Index,” said JPMorgan.

“Since the turn of the year, conviction in the stock has ratcheted higher, with the number of funds holding the stock rising sharply.”

The proportion of the Aristocrat share price held by fundies rose to 5% in October from under 1.5% at the start of calendar 2021.

JPMorgan has an “overweight” recommendation on both Telstra share price and Aristocrat share price.

ASX 200 shares losing their lustre

On the flipside, the so-called value shares that fundies have been stepping away from include the BHP Group Ltd (ASX: BHP) share price and Rio Tinto Limited (ASX: RIO) share price.

Meanwhile, cyclical ASX 200 shares have also fallen out of favour with the professionals. These include the Brambles Limited (ASX: BXB) share price and Qantas Airways Limited (ASX: QAN) share price.

The post These are the ASX 200 shares that fundies have been snapping up appeared first on The Motley Fool Australia.

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• Why is the Aussie Broadband (ASX:ABB) share price soaring today?
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Motley Fool contributor Brendon Lau owns shares of Aristocrat Leisure Ltd., BHP Billiton Limited, Newcrest Mining Limited, Rio Tinto Ltd., and Telstra Corporation 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 owns shares of and has recommended Telstra Corporation 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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PainChek Ltd (ASX: PCK) has been dealt a speeding ticket today following its share price and trading volume taking off over the past few days.

The company’s stock finished last Thursday’s session trading at 4.5 cents. Since then, it has surged more than 44% despite no word having been released by the company.

At the time of writing, the PainChek share price is 6.5 cents, the same as it was at yesterday’s close.

Let’s take a closer look at what’s been happening with PainChek’s stock lately.

A quick refresher

PainChek develops and markets its PainChek app.

The app uses artificial intelligence, facial recognition, and smart phone technology to assess pain levels of people who can’t verbalise or self-report their pain.  

What’s happening with the PainChek share price?

It’s been a crazy couple of days for PainChek on the ASX.

More than 23 million of its shares have swapped hands since Friday’s open. For context, the average day over the last 4 weeks has seen around 3.1 million PainChek securities traded.

Additionally, the PainChek share price soared 35.5% on Friday and another 6.5% yesterday.

It was in the green again earlier today amid the release of a ‘please explain’ issued by the ASX. In response, the company said it was as confused as anyone else about the change in trading behaviour.

Making the increased price and volume more head-scratching, is the fact the company hasn’t released any price-sensitive news to the market in more than a month.

In fact, the last time the ASX heard price-sensitive news from PainChek was in October when it updated the market on its performance over the September quarter.

Though, it published its non-price-sensitive annual general meeting investor update earlier today.

At its current share price, PainChek has a market capitalisation of around $74 million.

The post What the heck is going on with the PainChek (ASX:PCK) share price? 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 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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Shares in mineral exploration company Minrex Resources Ltd (ASX: MRR) are soaring in Tuesday’s session and now trade 18% higher at 3.2 cents apiece.

That marks a single year high for the company after it took off last week and has jumped over 60% in the time since. Let’s take a closer look at what the company has been up to lately and what’s behind its latest share price moves.

A quick rundown on Minrex Resources

Minrex – formerly MinRex Resources NL – has its priorities set on the exploration of gold and base metal projects in Western Australia.

MinRex currently holds five projects, four of which are in the East Pilbara region of WA. These include the Daltons Gold Project, the Bamboo Creek Gold Project, the Marble Bar North Gold Project and the Marble Bar South Gold Project; as well as the Deflector Extended Gold Project at Gullewa.

At the time of writing, Minrex Resources has a market capitalisation of $15.77 million and is trading well off its 52-week low of 1.4 cents.

What’s up with Minrex Resources lately?

The market had a delayed reaction to Minrex’s recent announcement that it had acquired 4 exploration licences and mineral rights to 3 Exploration Licences in the Pilbara region.

The agreements are with Abeh Pty Ltd and with Maxwell Strindberg. The list of acquisitions includes the:

• Tambourah North Lithium Project
• Tambourah Creek Project
• Shaw River Lithium Project
• Coondina Lithium Project and
• 3 exploration licenses at the Soanesville Projects.

Minrex reckons the acquisition represents a significant next step in its tenement acquisition plan to become an emergent lithium explorer with high-quality assets.

It also notes that its operations lie within a 70km radius of lithium and tantalum producer Pilbara Minerals Ltd‘s (ASX: PLS) Pilgangoora site and Mineral Resources Ltd‘s (ASX:MRL) Wodgina deposit.

Several of the new projects supplement and offer “fantastic synergies” to additional lithium projects to be acquired by MinRex, as announced earlier in November.

Investors have piled into Minrex on the back of the announcements. That trend continues today, with participants sending its share price north on a volume 243% that of its 4-week average volume.

That’s over 28.1 million Minrex shares changing hands today, versus its 8.2 million average – a figure that will be distorted higher from the recent activity.

Speaking on the announcement, Minrex Resources Chief Executive Officer Mr Kastellorizos commented:

The MinRex team, which includes Director George Karageorge, who is one of the founding geologists of the Pilbara Minerals owned Pilgangoora Lithium-Tantalum deposits, are delighted with the success of the Company’s strategy to acquire further and more highly prospective ground in the East Pilbara World Class Mineral Field.

The price of lithium continues to soar to record heights and is now up over 3% for the month and up over 400% in the last year. These strengths bode in well for lithium producers and lithium-ion battery companies, according to analysis from Goldman Sachs, Roskill, CRU Group and FactSet.

Minrex Resources share price snapshot

In the past 12 months, the Minrex Resources share price has soared over 45% and is now up 60% this year to date.

These returns are a galaxy ahead of the benchmark S&P/ASX 200 Index (ASX: XJO)’s gain of around 12% in the last year.

The post Minrex Resources (ASX:MRR) share price jolts 60% in a week. Here’s why appeared first on The Motley Fool Australia.

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• Starpharma (ASX:SPL) share price jumps 6% following AGM
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The author has no positions 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 Starpharma Holdings Ltd (ASX: SPL) share price has gained more than 6% from the open today as investors respond positively to the company’s AGM.

In the address, the biotech company outlined several investment takeouts, ranging from its financials to various product and/or drug launches throughout the year.

At the time of writing, the Starpharma share price is trading near 3-month lows at $1.11 after coming off a high of $1.48 in September.

What did Starpharma cover in its AGM?

The company reiterated its FY21 financials where it recognised $2.2 million in sales, down from $6.6 million in FY20.

However, note that Starpharma received a $4.4 million milestone payment last year from AstraZeneca for its DEP drug delivery platform.

As such, the loss for the period came in at almost $20 million, a blowout of $6 million from the year prior, and net cash burn was also higher at $16.5 million in FY21.

Starpharma left FY21 with $53.4 million on the balance sheet after collecting $46.9 million in net proceeds from an equity placement and share purchase plan.

Aside from this, the company also registered its antiviral VIRALEZE nasal spray in Europe, India, and New Zealand, and secured distribution agreements in the UK, Italy, and Vietnam.

These agreements enabled the launch of VIRALEZE in pharmacies, online, and in retail outlets in those regions, per the release. In fact, Starpharma even established its own e-commerce store which has now shipped VIRALEZE to consumers in more than 50 countries.

Earlier in the year, the company signed a new partnership agreement with pharmaceutical company Merck & Co Inc for its DEP platform. This builds on partnerships with AstraZeneca and Chase Sun, alongside “several undisclosed partner programs”.

What did management say?

Speaking on the address which is likely fuelling the Starpharma share price today, chairman Rob Thomas AO said:

This year, we continued to witness the devastating impacts of the COVID-19 pandemic following the emergence of multiple new and more severe variants, which required our community to innovate and adapt quickly to overcome the challenges posed by this global health crisis.

For Starpharma, it reinforced the value of our purpose and strategic focus as an organisation, which is to leverage the company’s proprietary dendrimer platform technology to build a portfolio of high-value products and partnerships that address significant unmet patient need. It inspired our team to develop VIRALEZE, an innovative broad-spectrum antiviral nasal spray that can be used in situations where individuals may be at risk of being exposed to respiratory viruses, including coronavirus.

What’s on the cards for Starpharma and its share price?

According to the address, Starpharma remains focused on progressing its DEP programs – both internal and partnered.

It also hopes to close out a number of valuable distribution arrangements and product registrations for VIRALEZE by the end of CY21.

Looking to 2022 and beyond, Starpharma remains focused on “fulfilling its purpose and strategic objectives with further registrations, launches and revenue growth for VIRALEZE and VivaGel products, and DEP partnerships”.

In the past 12 months, the Starpharma share price has fallen almost 13%. It is also down 29% this year to date.

The post Starpharma (ASX:SPL) share price jumps 6% following AGM appeared first on The Motley Fool Australia.

More reading

• Why is the Starpharma (ASX:SPL) share price trading at 52-week lows?

The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings 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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Shares in Qantas Airways Limited (ASX: QAN) have come off a closing high of $5.85 marked on November 8 and now trade 14% lower at $5.025.

In today’s session, shares in the flying kangaroo are up 2.5% on about half of its 4-week average volume.

Amid the uncertainties surrounding the new Omicron COVID-19 strain – where several international flight routes have already been cancelled – investors have run from Qantas at a pace these past few weeks.

Yet, amongst the turbulence, the team at investment bank Jefferies reckon that this could instead be a time for investors to be constructive on Qantas shares.

Plenty of opportunities

The recent shakeup on the Qantas share price as the new Omicron COVID-19 strain emerges from the depths, could be full of buying opportunities.

That’s what the team at Jefferies reckon anyway, as the firm encourages investors to consider the recent pullback in a more positive light, rather than complying with the market’s knee-jerk reaction to Omicron.

Despite the constructive language, the broker also cautions investors to factor in the risk that an international travel recovery will be more drawn out if governments step in again with lockdowns.

It notes that Qantas’ international volumes could be 79% behind pre-COVID levels in 2H FY22 and 19% in FY23 according to internal estimates, ceteris paribus.

Jefferies says that “while the recovery to travel confidence is expected to be impacted by the Omicron variant, this impact is a function of the lack of information on the effectiveness of the current vaccines”.

The firm values Qantas at $6.55 per share and reiterated its buy rating in a note to clients yesterday, which suggests a 31% upside potential at the time of writing.

However, bullish sentiment like this isn’t shared equally amongst the list of analysts covering Qantas. Credit Suisse reckons Qantas is a sell whereas another broker has it as a hold in updates last month.

Meanwhile, Morgan Stanley is heavily bullish on Qantas and values the airline company at $7 per share, implying a 40% margin of safety.

ASX travel shares started the week with a mixed reaction across the board yesterday as traders evaluate how to tackle the Omicron strain. Competitor Regional Express Holdings Ltd (ASX: REX) finished down on Monday whereas travel giant Flight Centre Travel Group Ltd (ASX: FLT) also finished the day down from Friday’s close.

Qantas share price snapshot

In the past 12 months, the Qantas share price has slipped almost 7% in the red due to pressures from the pandemic. This year to date, it has rekindled some hope and is now 3% in the green since January 1.

Despite this, investors are driving down Qantas shares this past month. They are down 6% in that time after sinking a further 5% in the last week.

The post What’s Jefferies saying about the Qantas (ASX:QAN) share price? appeared first on The Motley Fool Australia.

More reading

• How did ASX 200 travel shares weather the Omicron storm today?
• Here’s why the Webjet (ASX:WEB) share price is getting hammered on Friday
• Why are ASX 200 travel shares having such a shocker today?
• Are Qantas (ASX:QAN) shares a top reopening buy? Here’s what Motley Fool analyst Benny Ou thinks
• Qantas (ASX:QAN) share price down 5% so far this week despite boss spruiking ‘new opportunities’

The author has no positions 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 Flight Centre Travel Group 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 Webjet Limited (ASX: WEB) share price is surging higher today despite no news having been released by the company.

However, the global market seemingly recovered overnight, potentially due to reduced fears surrounding the Omicron COVID-19 variant.

At the time of writing, the Webjet share price is $5.47, 5.29% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is also in the green today. It is currently up 1.14%.

Let’s take a look at what’s going on with the travel company and its peers on Tuesday.

What’s boosting the Webjet share price?

The Webjet share price is taking off, as are plenty of other ASX travel stocks. The upwards trajectory might have been spurred my movements in US markets overnight.

Many NASDAQ-listed travel stocks bounced back on Monday following a disastrous end to last week.

While much of Australia slept, the Expedia Group Inc (NASDAQ: EXPE) share price recorded a 4% gain. The Airbnb Inc (NASDAQ: ABNB) share price also surged 3.5% while the Booking Holdings Inc (NASDAQ: BKNG) share price increased 1.2%.

Back home, plenty of other ASX 200 travel shares are also in the green.

That’s despite Prime Minister Scott Morrison putting on hold the plan to welcome student, humanitarian, working holiday, and family visa holders, as well as travellers from Japan and South Korea, back into the country.

Those affected were meant to start flying into Australia tomorrow, but the reopening has been ‘paused’ until 15 December. The extra time will allow officials to gather more information on the Omicron variant.

Additionally, travel from 8 African countries has been halted amid the emergence of the variant.

Australian citizens, residents, and their immediate families can still return from the 8 nations. Though, they must spend 14 days in hotel quarantine on arrival.  

However, in an interview with Today‘s Sylvia Jeffreys, Morrison said symptoms of the variant seem to be less severe than those of other COVID-19 mutations.

The knowledge that Omicron might not be as large a threat as previously anticipated might have helped calm the market on Tuesday.

Right now, the Webjet share price gain is similar to that of fellow travel agent Flight Centre Travel Group Ltd (ASX: FLT). Flight Centre’s shares are up 5.18% at the time of writing. The Qantas Airways Limited (ASX: QAN) share price is also in the green, sporting a 2.65% gain.

The post Why is the Webjet (ASX:WEB) share price taking off 5% today? appeared first on The Motley Fool Australia.

More reading

• How did ASX 200 travel shares weather the Omicron storm today?
• Why EML Payments, Pact, Senex, and Webjet shares are dropping
• ASX 200 (ASX:XJO) midday update: Omicron hits Flight Centre, Domino’s jumps
• Flight Centre (ASX:FLT) share price crashes 11% amid omicron fears
• These are the 10 most shorted ASX shares

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 Booking Holdings, Flight Centre Travel Group Limited, and Webjet 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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There are a number of quality ASX dividend shares that could be good picks for longer-term income.

These are defensive businesses with pretty reliable demand and a commitment to paying shareholders a high level of annual profit.

Here are two relatively large businesses to consider:

Charter Hall Long WALE REIT (ASX: CLW)

This ASX dividend share is a real estate investment trust (REIT). It targets a distribution payout rate of 100%. The business owns a diversified property portfolio in Australia and New Zealand across office, industrial, diversified long weighted average lease expiry (WALE) retail, hospitality, convenience retail, social infrastructure and agri-logistics.

The goal of Charter Hall Long WALE REIT is to provide investors with stable and secure income and the potential for both income and capital growth through exposure to a portfolio of high-quality properties and tenants that are signed up to long contracts.

Its WALE at the latest disclosure was 12.6 years, which provides a high level of “security and continuity of income” for investors. It has a number of resilient, high profile customers – it received 100% of its net recent during COVID. Two of its largest tenants includes Telstra Corporation Ltd (ASX: TLS) and Endeavour Group Ltd (ASX: EDV).

The ASX dividend share has annual rental escalation which is delivering organic growth.

In FY22 it is expecting to achieve FY22 operating earnings per security (EPS) growth of at least 4.5% compared to FY21 operating EPS of 29.2 cents. At the current Charter Hall Long WALE REIT share price, that represents a distribution yield of 6.25%.

It’s currently rated as a buy by Citi, which expects it to pay a distribution per unit of 31.9 cents in FY23.

Metcash Limited (ASX: MTS)

Metcash is a diverse that owns or supplies various businesses across food, liquor and hardware including: IGA, Foodland, Cellarbrations, The Bottle-O, IGA Liquor, Duncans, Thirsty Camel, Mitre 10 and Total Tools.

The company recently decided to increase its target dividend payout ratio from 60% to 70% of net underlying profit after tax (as well as announcing a $200 million off-market buy-back). This further increases dividend payouts for investors.

This ASX dividend share has a number of initiatives to improve the business including store upgrade programs, rolling out new store formats, expanding its private and exclusive label ranges and accelerating its digital plans. It’s also looking to retain new and returned customers gained through COVID.

It is also pursuing attractive growth opportunities, such as the acquisition of Total Tools.

UBS currently rates Metcash as a buy, with a price target of $4.60, which likes the growth prospects of the hardware division.

According to the broker, Metcash is valued at 16x FY22’s estimated earnings with a grossed-up dividend yield of 4.4% for FY22.

The post These 2 ASX dividend shares could be high-quality picks for income appeared first on The Motley Fool Australia.

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• Alcohol and intelligence: 2 ASX shares on the way up

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. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation 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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It has been a great day for the S&P/ASX 200 Index (ASX: XJO. In afternoon trade, the benchmark index is up a sizeable 1.25% to 7,330.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Nuix Ltd (ASX: NXL)

The Nuix share price is down 11% to $2.27. This follows the release of a disappointing trading update from the investigative analytics and intelligence software company this morning. That update reveals the Nuix’s revenue was up 10% during the first four months of FY 2022. However, a jump in costs means that Nuix’s pro forma EBITDA has fallen 27% during the same period.

Resolute Mining Limited (ASX: RSG)

The Resolute share price is down 2.5% to 37 cents. This appears to have been driven by a shift back to risk assets, which is weighing on safe haven assets like gold miners. It isn’t just Resolute falling today. The S&P/ASX All Ordinaries Gold index is down 0.7% at the time of writing.

Talga Group Ltd (ASX: TLG)

The Talga share price has tumbled almost 17% to $1.50. Investors have been selling the battery materials company’s shares after a non-binding Letter of Intent executed with Mitsui & Co and Luossavaara-Kiirunavaraa Aktiebolag expired without a deal being signed. Talga advised that it will continue to pursue existing and new financing and partnership opportunities.

Vection Technologies Ltd (ASX: VR1)

The Vection Technologies share price has crashed 18% to 22.5 cents. This follows the completion of a $12 million equity raising this morning. Those funds were raised a 20 cents per new share, which represents a huge discount of 27% to its last close price. Vection intends to use the funds to support its expansion plans and strengthen its balance sheet. The company also revealed that its managing director is selling 15 million shares.

The post Why Nuix, Resolute, Talga, and Vection shares are falling today appeared first on The Motley Fool Australia.

More reading

• Vection Technologies (ASX:VR1) share price tumbles 12% following trading halt. Here’s why
• Nuix (ASX:NXL) share price sinks 7% following trading update
• Nuix (ASX:NXL) share price climbs despite second class action
• Talga (ASX:TLG) share price leaps 7% on EV anode facility update
• The Vection (ASX:VR1) share price is rocketing 10%. Here’s why

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 recommended Nuix Pty 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 Bruce Jackson.

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