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Yesterday I looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Blackmores Limited (ASX: BKL)

According to a note out of Citi, its analysts have retained their sell rating and $71.00 price target on this health supplements company’s shares. This follows an update from rival Swisse which flagged difficult trading conditions in China. In addition to this, the broker notes that competition in Australia remains aggressive. The Blackmores share price is trading at $96.98 today.

Commonwealth Bank of Australia (ASX: CBA)

A note out of Macquarie reveals that its analysts have retained their underperform rating and $86.00 price target on this banking giant’s shares. Macquarie believes investors would be better focusing on commercial-focused banks ahead of retail focused banks like CBA. It expects the former to deliver better profit growth. In light of this, Macquarie doesn’t believe CBA’s shares deserve to trade at such a premium. The CBA share price is fetching $96.81 this afternoon.

Fortescue Metals Group Limited (ASX: FMG)

Analysts at Goldman Sachs have retained their sell rating and $11.00 price target on this mining giant’s shares. According to the note, the broker expects Fortescue’s shares to remain under pressure due to lower iron ore prices and the strategic uncertainty implied by its openness to entering other markets (e.g. renewables). The Fortescue share price is trading at $17.03 on Tuesday.

The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: BHP, Woodside rise, TechnologyOne falls
• Why ASIC chair warns ‘great caution’ needed when investing in crypto
• Is the Fortescue (ASX:FMG) share price dirt cheap or overvalued?
• Only a few ASX 200 companies have received this honour and Scentre (ASX:SCG) just joined them
• Why this mining analyst is upbeat on the iron ore price forecast

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Blackmores 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 CV Check Ltd (ASX: CV1) share price is rebounding fiercely after slumping 20% over the last three trading days.

The online integrated screening and verification company announced a sound second-quarter trading update which has excited investors.

At the time of writing, the online integrated screening and verification company’s shares are up 15.39% to 15 cents.

CV Check achieves positive cash flow

The CV Check share price is on the move today after the company outlined robust performance for the start of Q2 FY22.

According to its release, CV Check reported growth in employment demand across both Australia and New Zealand. This led the company to record $2 million in revenue for October, up 81% on the prior corresponding period. Cash receipts for the month totalled $2.3 million, reflecting a 99% increase from this time last year.

CV Check also became cash flow positive for October, generating $0.4 million. The closing cash balance for the end of the month stood at $12.6 million.

In addition, the company revealed that favourable tailwinds are indicating that November is on track to beat last month’s result.

CV Check CEO Michael Ivanchenko commented on the company’s solid performance:

With strong recent employment demand across the region, CV1 has seen a corresponding uptick in order flows, further validating our strategy of pursuing a B2B focus. CV1’s innovations, such as our Covid-vaccine status check, continue to gain traction with a market needing certainty and reliability as it grows.

We are confident that as the full benefits of our workforce compliance monitoring and management software, Cited, are brought to the market, CV1 will be able to accelerate further growth through the balance of FY22.

CV Check share price snapshot

The CV Check share price is down 9% in the past 12 months and is hovering almost 20% lower year-to-date.

Based on valuation grounds, CV Check has a market capitalisation of around $64.95 million, with approximately 433.02 million shares outstanding.

The post CV Check (ASX:CV1) share price leaps 15% on strong trading update appeared first on The Motley Fool Australia.

More reading

• Is the Qantas (ASX:QAN) share price still a good recovery buy?
• Why this fundie likes NAB (ASX:NAB) shares in a firming interest-rate environment
• CSL (ASX:CSL) share price struggles despite new government funding
• Tritium opens world-class facility in Brisbane but still no plans for ASX listing
• Did the Bitcoin and Ethereum bubble burst just signal a crypto market top?

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 recommended CV Check 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 Qantas Airways Ltd (ASX: QAN) share price has alternately crashed and soared on the back of COVID-19 developments.

In February and March 2020, during the wider pandemic-fuelled market rout, the Qantas share price cratered by 67%. That was more than double the 32% losses suffered by the S&P/ASX 200 Index (ASX: XJO).

Moving forward to November 2020, when news of effective COVID vaccines broke, we saw Qantas shares soar 32% in less than a month.

More recently, the Qantas share price got another big lift in August this year when Aussie vaccination rates began to take off and the government unveiled its grand reopening plans.

While shares have retraced some 10% since 9 November 2021, investors may be wondering if the airline is still a good recovery buy.

Is the Qantas share price still a good recovery buy?

To gain some insight into the answer to that question, we defer to Paul Xiradis, head of equities at Ausbil Investment Management.

Looking ahead towards the rest of the 2022 financial year, Xiradis forecasts “another year of strong earnings growth from select cyclicals”.

Among those cyclicals, he points to travels shares, including Qantas.

“Post-lockdown, with borders reopening we see positive earning growth outlooks for companies like Qantas,” he said.

Discussing Qantas and other “select cyclicals”, Xiradis explained:

We are of the view that forward estimates for the next two years will be upgraded, driven by an under-appreciated pick-up in activity beyond COVID lockdowns.

The December quarter ’21 is shaping up to be a very strong period, making up for the lockdown-induced slowing in the September quarter. We expect activity levels will remain elevated for the whole of calendar year ’22, before it starts its march to trend growth commencing in ’23.

But there are risks

As an investor, it’s paramount to keep an eye on potential risks to any investment thesis.

For the case of an increasing Qantas share price in the year ahead, the coronavirus remains one of the biggest uncertainties.

According to Xiradis:

Any resurgent re-infection issues or return to lockdowns and border closures would be a concern, however with vaccination rates so high we believe this risk of such is low. Furthermore, the breakthrough of a COVID-19 antiviral pill by Pfizer could be a game changer. There remains a slim risk that not all Australian states will deliver on vaccination targets, but we believe this risk is negligible.

Qantas share price snapshot

The Qantas share price has gained 8% in 2021, trailing the 11% year-to-date gains posted by the ASX 200.

Qantas shares have slipped just under 8% over the past month.

The post Is the Qantas (ASX:QAN) share price still a good recovery buy? appeared first on The Motley Fool Australia.

More reading

• Is the reopening already priced into ASX 200 travel shares?
• Here’s why ASX 200 travel shares are getting hammered today
• Here’s why Qantas (ASX:QAN) is not having such a ‘Bonza’ day
• Qantas (ASX:QAN) share price shrugs off another Rex route
• Could climate issues pose a bigger risk to the Qantas share price than COVID?

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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In 2021, and especially in the latter part of this year, much of the talk of the ASX town has revolved around inflation, and by extension, interest rates.

Inflation hasn’t been a pressing problem for Australian policymakers or the Reserve Bank of Australia (RBA) for decades now. But resurgent inflation across many of the advanced economies of the world in recent months has certainly raised some eyebrows.

This is highly relevant for investors because rising inflation, and the higher interest rates that normally accompany it, can have big consequences for any investor’s investment portfolio.

If you weren’t aware, inflation is the phenomenon where the intrinsic value of money decreases over time. It means you will need more nominal currency to buy a good or service than you used to. It’s the reason why your grandparents talked about 5 cent loaves of bread, yet that same bread costs $5 today instead.

Normally, governments welcome a little bit of inflation because it helps stimulate a healthy economy. That’s why the RBA has an inflation “target band” of between 2% and 3%. But too much can cause economic distortions across the economy and is almost universally regarded as undesirable. And that’s why the RBA tends to raise interest rates if it believes inflation is getting ahead of itself.

So how does one position an ASX share portfolio for a world of rising interest rates?

Fundie: Why NAB shares are a good pick for a higher-rate world

Paul Xiradis, chief investment officer and executive chair at fund manager Ausbil, has a few ideas.

Xiradis is confident we will see higher interest rates in the near future. He says that even if they remain below historical levels, “they are likely to be higher than their COVID lows”.

He went on to state “it’s not unreasonable for rates to start to rise and normalise” from here.

In this scenario, Xiradis singles out “the major banks” as worthy investments in this environment. And he “specifically” likes Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Ltd (ASX: NAB). Why? Xiradis says ASX banks such as CBA and NAB “benefit in positive economic growth conditions when rates are firming” and they have “strong capital positions”.

Xiradis isn’t NAB’s only fan though. As my Fool colleague James covered earlier today, investment bank and broker Goldman Sachs is also bullish on NAB shares.

Goldman has a ‘conviction buy’ rating on NAB right now, with a 12-month share price target of $31.15 (implying a near-10% upside over the next year). Goldman likes NAB for its dominance in the business banking space, which it views as more lucrative than residential mortgages right now.

At the current NAB share price of $28.42 (at the time of writing), this ASX bank has a market capitalisation of $93.14 billion, with a dividend yield of 4.47%.

The post Why this fundie likes NAB (ASX:NAB) shares in a firming interest-rate environment appeared first on The Motley Fool Australia.

More reading

• Analysts name 2 ASX 200 blue chip shares to buy now
• Are ANZ (ASX:ANZ) and NAB (ASX:NAB) the best ASX bank shares to buy?
• 5 things to watch on the ASX 200 on Monday
• 2 ASX 200 dividend shares to buy
• 3 ASX shares Goldman Sachs rates as conviction buys

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 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 global biotech company CSL Limited (ASX: CSL) are struggling to find range today and are now inching 0.25% lower at $315.28.

Whilst there is no market sensitive information out of the blood plasma specialist’s corner today, it released a statement to the media regarding an upcoming venture.

CSL will team up with Melbourne University and The Walter and Eliza Hall Institute of Medical Research (WEHI) to create an incubator and wet space lab for biotech start-ups, with support from the Victorian government.

Here are the details.

Driving world class research

CSL announced today the group has secured funding to create a start-up incubator, with the goal of supporting and growing early-stage Australian biotech companies.

Funding has been secured alongside a contribution from Breakthrough Victoria, the independent investment company administering the Victorian government’s $2 billion Breakthrough Victoria Fund. 

The incubator will support start-ups by enabling them to “translate promising medical research into commercial outcomes”.

In practical terms, the incubator will take on small biotech companies engaged in early research that want to take their discoveries to the next stage of development.

One factor the incubator wants to address is “skill gaps in translating research into commercial products”.

Aside from “state of the art wet lab facilities”, the incubator will also provide a range of services including “commercialisation education programs, facilitated access to investors, industry mentoring, and access to service providers”.

Speaking on the announcement, CSL’s CEO Paul Perreault said:

As one of the world’s leading biotechnology companies, CSL is driven by our promise as a patient-focused organisation, so this partnership clearly aligns with our Values and Purpose. We are well positioned to support incubator residents, whose experience often lies purely within the lab, better understand commercial aspects of medicines development that may be foreign or new to them.

Why an incubator?

As CSL puts it, incubators reduce barriers to entry for start-ups. It’s all about cost reduction and incubators can offer a ‘one-stop shop’ by minimising expenditure on things otherwise cost-prohibitive to small companies.

CSL notes start-ups that are incubated have a much higher five-year survival rate and accelerated growth trajectory compared with standalone entities.

Speaking on the announcement, WEHI director Professor Doug Hilton said the collaboration will “help to build a generation of corporate and management-skilled scientists who have the knowledge and confidence to run a successful biomed or biotech company”.

The incubator is scheduled to open to start-ups in 2023 and will be able to accommodate up to 40 early-stage companies from around Australia.

CSL share price snapshot

It’s been a difficult past 12 months for the CSL share price which has lost 0.09% in that time. However, this year to date it has climbed almost 12% and is up around 7% this past month.

Despite this, over the past 12 months, CSL shares have lagged the benchmark S&P/ASX 200 Index (ASX: XJO).

The post CSL (ASX:CSL) share price struggles despite new government funding appeared first on The Motley Fool Australia.

More reading

• Here’s why these brokers say the CSL (ASX:CSL) share price might be overcooked
• 2 outstanding blue chip ASX shares to buy this month
• Can CSL (ASX:CSL) shares regain their pre-COVID highs above $330?
• Why has the CSL (ASX:CSL) share price fallen over $7 in a week?
• 3 ASX 200 shares with major competitive advantages

The  author Zach Bristow 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 CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Yesterday was an electrifying day for Tritium as the fast-charging station maker for electric vehicles (EVs) opened its own world-class testing facility. Yet, Tritium isn’t planning on an ASX listing anytime soon.

Accompanied by Queensland deputy premier and minister for state development Steven Miles, the Tritium team officially opened one of the world’s largest and highest-powered testing facilities. The key development comes as the company readies for its Nasdaq listing.

Additionally, the opening is less than two weeks after Tritium’s CEO shared an upbeat belief for an EV future. At a summit held by the Australian Financial Review, CEO Jane Hunter shared the expectation that EVs will be cheaper than internal combustion vehicles in the next four years.

Tritium brings testing capability in-house

In an exciting move for the Australian EV charging company, Tritium opened its own electromagnetic compatibility (EMC) testing chamber yesterday. In simple terms, this facility enables the testing of EV charging equipment under a wide range of conditions. Unfortunately for investors, the Tritium opportunity can’t be found on the ASX.

According to the release, Tritium will be able to test both full charging systems and individual components under a range of temperatures, power loads, and impacts. For example, one of the facility’s thermal chambers can produce temperatures between -70 degrees celsius and 180 degrees celsius.

This enhanced in-house capability means the company will now be able to accelerate testing, prototyping, compliance, and certification. As a result, the road from design to market for Tritium products will be much shorter.

The company highlights how many EV charger manufacturers rely on publicly accessible EMC testing facilities. Because of this, companies must book in ahead of time and wait their turn for assessing a design. This process can be strenuous and time-consuming.

Commenting on the new facility, Tritium chief technology officer and co-founder James Kennedy said:

We now have the freedom to test a charger at a moment’s notice and for as long as we need, to ensure our chargers not only meet the thresholds required for compliance but exceed them.

Additionally, the facility is capable of delivering up to 720 kilowatts of regenerative power from its integrated system. This ensures the company is able to test even the most power-demanding of devices.

Tritium on the Nasdaq, not ASX

Some investors might be wondering how to get their hands on Tritium shares. Currently, the company is expected to merge with a special purpose acquisition company (SPAC) known as Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN). This is set to occur sometime between December 2021 and January 2022.

The listing has been highly anticipated since we first covered the Tritium story back in June this year. However, ASX investors who want a slice will need to keep their eyes on the US Nasdaq exchange. Until then, the EV charging company remains a private company.

The post Tritium opens world-class facility in Brisbane but still no plans for ASX listing appeared first on The Motley Fool Australia.

More reading

• Did the Bitcoin and Ethereum bubble burst just signal a crypto market top?
• The Vection (ASX:VR1) share price is rocketing 10%. Here’s why
• Why is the IOUpay (ASX:IOU) share price tumbling 7% on Tuesday?
• Here’s why the Pilbara Minerals (ASX:PLS) share price hit a record high today
• Is the reopening already priced into ASX 200 travel shares?

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 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.

After reaching all-time highs on Nov. 10, leading cryptocurrencies Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are both down around 15% from their peaks.

Meanwhile, Cardano (CRYPTO: ADA) and Solana (CRYPTO: SOL) are down over 20% from their highs. Fears of an impending cryptocurrency winter and crackdowns by the U.S. and China may signal a short-term market top. Here’s what to do if you’re worried about falling cryptocurrency prices.

Bitcoin and Ethereum are not a bubble

Long gone are the days of calling Bitcoin and Ethereum a craze. Yes, many doubters remain, but there’s no denying that Bitcoin and Ethereum are much more established than they used to be.

Bitcoin provides a store of value and an inflation hedge, especially in countries that lack a stable fiat currency. New financial products centered around Bitcoin are being introduced. Bitcoin is even being stored on companies’ balance sheets. And most importantly, Bitcoin has remained safe and secure even as adoption has grown exponentially.

Meanwhile, Ethereum is the backbone of decentralized finance (DeFi). The growth of new applications that run on the Ethereum blockchain expands the importance of its network. One reason Bitcoin is so valuable is that it has a peak supply of just 21 million coins. Ethereum doesn’t have a fixed supply, but coin-burning has successfully kept the asset scarce.

Ethereum is burned on purpose by those that try to limit its supply, as well as in transaction volumes for non-fungible tokens (NFTs) on sites like OpenSea. Without getting too much into the details, Ethereum has proven it is in fact scarce, which gives it more value and differentiates it from infinite-supply altcoins like Dogecoin or Shiba Inu.

The impending Ethereum 2.0 upgrade, which is expected in the first half of 2022, will transition Ethereum from a proof-of-work to a proof-of-stake consensus mechanism. In theory, the transition would make Ethereum more safe, secure, and scalable, not to mention less environmentally taxing. In a proof-of-stake method, users will validate transactions based on how many coins they hold, not by deploying computer power as is done in a proof-of-work method.

Distinguishing Bitcoin and Ethereum from altcoins

Bitcoin’s unparalleled decentralization and safety make it a linchpin in the cryptocurrency market, whereas Ethereum is well-rounded and balanced — acting like a smartphone that hosts innovative projects.

According to CoinMarketCap, there are over 14,500 cryptocurrencies currently in existence. Many of these projects will get hyped up, fail, and lose money for a lot of people. But it’s important not to tangle fads and fringe markets in the Bitcoin and Ethereum investment thesis.

How to approach the market now

Whether you’re new to the cryptocurrency market or wondering how to adjust your position amid falling prices, the most important thing is to respect your personal risk tolerance. Despite the potential, there’s no reason to get overly involved in cryptocurrencies, especially the risky ones, if it doesn’t suit you.

If you believe that we are in the early innings of decades of cryptocurrency growth, then simply dollar-cost averaging into Bitcoin and Ethereum over time should do the trick. If you want to expose yourself to other options as well, then adding a high-growth name like Solana is OK too.

Some risk-averse investors may even find the high interest rates offered by stablecoins providing an attractive income stream.

The cryptocurrency market is sure to go through cycles of boom and bust for the foreseeable future. But if you think the growth trajectory is headed up, then there’s no reason to fear a short-term market top so long as the investment position is an amount you can afford to lose.

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

The post Did the Bitcoin and Ethereum bubble burst just signal a crypto market top? appeared first on The Motley Fool Australia.

More reading

• Why ASIC chair warns ‘great caution’ needed when investing in crypto
• Planning to gift Bitcoin (CRYPTO:BTC) or another crypto for Christmas? You’re not alone
• Could carbon credits become the new crypto? This fundie thinks so
• How has Bitcoin (CRYPTO:BTC) performed since this weekend’s Taproot upgrade?
• Getting paid in cryptocurrency will be the norm, says expert

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. Daniel Foelber owns shares of Bitcoin, Cardano, and Ethereum. 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 Vection Technologies Ltd (ASX: VR1) share price is soaring in early afternoon trade. Shares are up 10% at time of writing to 22 cents per share.

Below, we take a look at what’s driving investor interest in the ASX tech share.

Capitalising on the remote work force

The Vection share price is off to the races today after the company unveiled its FrameS Metaverse release “introducing autonomous 3D World content creation”. This means companies will be able to build their own self-contained immersive metaverses.

According to Vection, this represents a milestone for its plans to integrate with Webex by Cisco during the second half of FY22. Webex by Cisco has provided video conferencing and online meetings services to more than 590 million monthly participants during the global pandemic.

Vection noted that there is “significant interest” from companies looking to increase their remote workforce productivity and encourage collaboration between team members. It has already begun to roll out its new Metaverse release to existing users, including fashion retailer Giorgio Armani and luxury yachts manufacturer Ferretti Group.

Commenting on the release, Vection’s managing director Gianmarco Biagi said:

Vection has always been a true believer in virtual 3D worlds, where organisations and people can connect and collaborate to create value.

As part of this vision we have worked tirelessly with industry leaders to understand their problems and creating solutions to address them. Today, following years of development, we believe we are on the cusp of a major adoption revolution, where, via Webex’s established user base and Vection’s critical metaverse-focused technology, we can play a major role in framing the future of the XR industry and the metaverse to come.

Vection share price snapshot

The Vection share price is up an impressive 100% since this time last year. That compares to a 12 month gain of 14% posted by the All Ordinaries Index (ASX: XAO).

Over the past month, Vection shares have rocketed an impressive 133%.

The post The Vection (ASX:VR1) share price is rocketing 10%. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here’s why the Vection (ASX:VR1) share price has boomed 40% in 2 days
• Why the Vection (ASX:VR1) share price lifted 9% on Friday

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 Woodside Petroleum Limited (ASX: WPL) share price is taking off today following news of the company’s merger with BHP Group Ltd‘s (ASX: BHP) oil assets and its Scarborough project.

The two S&P/ASX 200 Index (ASX: XJO) giants have signed a binding share sale agreement.

Additionally, Woodside has made a final investment decision for the Scarborough project and Pluto Train 2 development.

At the time of writing, the Woodside share price is $22.40, 3.27% higher than its previous close.

Let’s take a closer look at the news released by the two companies after yesterday’s close.  

Woodside inks massive merger

Woodside and BHP have taken a huge step towards creating a top 10 global independent energy company and the largest energy company on the ASX.

The newly announced share sale agreement is the latest step towards their planned merger.

It will see Woodside taking on the entire share capital of BHP Petroleum International. In exchange, it will issue new Woodside shares to BHP.

On the other side of the merger, Woodside shareholders will own 48% of the combined entity. BHP’s shareholders will take home the other 52% stake.

The merger is now pencilled in to be completed in the second quarter of 2022.

It’s still subject to several regulatory approvals, shareholder approval, and independent experts finding the merger is in the best interests of Woodside shareholders.

Scarborough gets the green light

Additionally, the two giants have also both agreed to go ahead with their portions of the Scarborough project and Pluto Train 2.

According to Woodside, the US$12 billion development will be capable of being one of the lowest carbon intensity sources of LNG for customers in North Asia.

The project’s development will see 13 subsea wells created, as well as a semi-submersible floating production unit.

The project’s productions will travel through a 430-kilometre subsea pipeline to the Pluto LNG Facility in Karratha, Western Australia.

The first LNG cargo from the project is expected to set sail in 2026.

BHP has a 26.5% holding in the project, with Woodside owning the remaining share.

Last week, Woodside announced it had sold a 49% stake in Pluto Train 2 to Global Infrastructure Partners.  

However, not everyone is happy about today’s news. The Australasian Centre for Corporate Responsibility director of climate and environment Dan Gocher commented:

Woodside has declared war on the climate by reaching FID (final investment decision) on the single largest fossil fuel project in Australia in recent memory…

Any assumption by Woodside that the climate movement will abandon its opposition to the Scarborough project now that FID has been reached is sorely misplaced. Post-COP26, activists committed to a safe climate will only become more determined.

Woodside share price snapshot

Despite today’s gains, the Woodside share price is still 7% lower than it was this time last month.

It has also fallen 2.8% since the start of 2021.

The post Woodside (ASX:WPL) share price climbing as megadeals signed off appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: BHP, Woodside rise, TechnologyOne falls
• BHP (ASX:BHP) and Woodside (ASX:WPL) shares on watch amid petroleum merger update
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday
• Woodside (ASX:WPL) share price shrugs off latest threat to $16 billion LNG project

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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The IOUpay Ltd (ASX: IOU) is losing ground on Tuesday and has slipped into the red from the open. At the time of writing, shares in the BNPL player are down more than 7% at 19.5 cents apiece.

IOU shares are on the move as the market responds to its operations update which the company released earlier.

Here are the key takeouts from IOU’s business update with information current up until 14 November 2021.

IOU share price struggles despite 13% merchant growth

Key investment highlights from the operational update include:

• $3.2 million in Total Transaction Value (TTV)
• $306,616 in Net Transaction Revenues (NTR)
• Strong growth in consumer and merchant sign ups, approval, and onboarding
• 2,613 merchants now onboarded (up 13% since 30 September)
• 1,182 merchants systems activated and listed on myIOU (up 25% since 30 September)
• 28,370 consumer downloads of myIOU (up 67% since 30 September)
• 8,201 consumer activated accounts (up 71% since 30 September)

What did IOU announce in its update?

The company posted its earnings results up until November. It has delivered $3.2 million in TTV, resulting in NTR of $306,616 for the period.

It also grew its merchant base by 13% since 30 September and now has 2,613 merchants onboarded. At the same time, IOU saw 28,370 consumer downloads of the myIOU platform, up 67% over the same period.

This activity means IOU now has 8,201 consumer activated accounts, representing a substantial growth of 71% since 30 September.

The IOU Merchant Services team also trained staff from Razor Merchant Services (RMS) during the period. Following the completion of systems integration testing by RMS, a pilot group of merchants is set to go live by early December.

The company’s Malaysian operations added more than 100 merchants operating more than 300 outlets to the myIOU platform during this quarter so far.

New merchants have been added to almost every industry vertical category including electrical and electronics, automotive, IT and gadgets, home and garden, beauty, and health and personal care.

On its IDSB settlement process and acquisition progress, IOU advised it is waiting for third party consent from one of IDSB’s banking partners for the change of shareholding in the acquisition.

It notes that “the Company expects this to be a formality and this has only been delayed due to the banking partner’s ability to convene its normally scheduled formal Board meetings due to local COVID restrictions”.

In respect to its COVID-19 response in Malaysia, the company advised that it has deployed a dedicated regional commercial officer to develop regional areas outside of the Klang Valley central economic hub encompassed by Kuala Lumpur and Selangor.

Speaking on its ongoing marketing strategy and digital campaign, IOU stated:

As shopping choice expands with many new merchants added across industry verticals and physical store locations, consumer engagement with myIOU has shown a significant growth trend over recent weeks. This growth also correlates with the Government’s easing of COVID-19 restrictions, the Company’s ongoing Digital Marketing Strategy and various promotional campaigns.

IOU share price snapshot

In the last 12 months, the IOU share price is down 2.5% despite gaining around 18% this year to date.

Despite this, it has slipped 22% into the red over the past month, falling more than 11% in the last week.

The post Why is the IOUpay (ASX:IOU) share price tumbling 7% on Tuesday? appeared first on The Motley Fool Australia.

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The author Zach Bristow 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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