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The Macquarie Group Ltd (ASX: MQG) share price edged higher to finish in the green today, closing the session at $196.32.

That earmarks Macquarie for its third all-time high in three consecutive days this week, as the banking giant now extends its rally in the past month to a 9% gain.

Here we uncover what’s been driving this price action for the company.

What’s been fuelling the Macquarie share price lately?

Zooming out and taking a birds-eye view over a longer time frame, it’s clear that Macquarie shares have been on an upward trajectory for about a month now.

As we commenced the walk through October, Macquarie released an investor presentation that gave some colour on its outlook for the coming periods.

In the presentation, the bank explained that it anticipates a slight down-step in earnings from the second half of FY21, although still expects a substantial jump in operating profit in Q1 FY22.

Aside from this, Macquarie also reckons it will record a significant growth period from the same time last year in H1 FY22.

Macquarie is also firm on the belief that its pivot into renewables will soon begin to yield positive returns, particularly as secular energy trends divert energy consumption towards greener alternatives.

The bank has a $2 billion exposure to the renewables sector, with another $45 million ready to put into the field, per its investor presentation.

Brokers vote Macquarie is a buy

In addition to these factors, several brokers are bullish on the Macquarie share price and feel there is plenty more upside yet to be priced in.

Analysts at Morgan Stanley have a $240 price target on Macquarie shares, a figure the broker justifies due to Macquarie’s renewables exposure.

In its report, Morgan Stanley exclaimed that “Macquarie’s critical scale in renewables should command a further ‘green premium’ and reduce its cost of capital”.

Fellow analysts at peer investment bank JP Morgan are also bullish on Macquarie, albeit with a tighter price target of $190.

The broker models a 15% net profit after tax (NPAT) growth in FY22, alongside a 15% return on equity for shareholders from FY22–24.

JP Morgan reckons that Macquarie’s annuity divisions will continue to drive strong medium-term growth, in addition to the accretive benefits earned on recent divestments.

It also feels that Macquarie Asset Management is well positioned to capitalise on structural demand pull from investors for exposure to alternative asset classes such as infrastructure, managed futures or commodities.

After hitting another record high today, the Macquarie share price has climbed 42% this year to date, and around 46% in the past 12 months.

The post Another day, another all-time high for the Macquarie (ASX:MQG) share price appeared first on The Motley Fool Australia.

More reading

• Up 11% in a month: Can the Zip (ASX:Z1P) share price keep rising?
• Can the Macquarie (ASX:MQG) share price hit $240 by Christmas?
• What leading brokers are saying about the Macquarie (ASX:MQG) share price
• Why did the Macquarie (ASX:MQG) share price have such a great FY22 first quarter?
• Is the Westpac (ASX:WBC) share price a buy for its 7% dividend yield?

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 owns shares of and has recommended Macquarie 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 Polynovo Ltd (ASX: PNV) share price went up around 0.5% after the company delivered its quarterly update for the first quarter of FY22.

For readers that don’t know what Polynovo does, it’s a business that develops medical devices that use the patented bioabsorbable polymer technology called Novosorb.

Novosorb is a group of medical grade polymers that can be ‘expressed’ in a variety of physical formats. Novosorb polymers have advantageous properties such as biocompatibility and design flexibility. These devices help tissue repair, before they biodegrade.

It has expanded its manufacturing facility and headquarters in Melbourne, as it prepares for growth.

Polynovo FY22 first quarter update

Geographically, the company has seen different levels of performance in different markets.

Europe

Polynovo said that in the EU, face to face meetings are back, conferences are being attended and hospital access has returned to near normal levels.

Management are expecting to sign additional distributors in the second quarter, including in Cyprus and the Czech Republic. Other jurisdictions, such as France and Portugal, are in negotiation. The EU has performed “well” with growth of 204% compared to the first quarter of FY21.

A new third party logistics distribution centre in Belgium is operational and filling sales orders with deliveries to Germany, Finland and an order from Italy being filled this week.

The company said that all indications are that orders will commence soon to other distributors in Poland, Turkey and Greece.

A relaxation of COVID-19 restrictions in UK and Irish hospitals has been a “positive” for the business. It has also been buoyed by some clinical trials. FY22 first quarter sales were up 327% on the same quarter last year.

US

Management called the trading in the US “patchy”. Polynovo said it has had limited access to American hospitals and surgeons. Despite that, it achieved a record number of new accounts opened in the first quarter, with total accounts in the US up 65% on the first quarter of FY21. Its enlarged sales team is making progress into new territories.

July and August sales were up 56% year on year, whilst September sales were mixed. This resulted in the first quarter sales being up 21%.

Australia and New Zealand

Polynovo said that its local sales were impacted by the long lockdowns in New South Wales and Victoria. It’s expecting sales to improve as COVID-19 restrictions ease in the second quarter of FY22.

Leadership commentary

New accounts in its direct markets (excluding distributor markets) in the first quarter of FY22 were 56% higher than the FY21 first quarter.

The managing director of Polynovo, Paul Brennan said:

A strong start to the first quarter of FY22 follows the strong fourth quarter finish in FY21 despite continuing COVID restriction in the southern states of the US. Our teams are expanding and signing new accounts and as patient access improves, we expect this will translate into strong sales.

Polynovo share price snapshot

Over the past year, the Polynovo share price has actually fallen by 23%. However, in the last five years it has risen 467%.

The post Polynovo (ASX:PNV) share price rises after “positive” FY22 quarterly update appeared first on The Motley Fool Australia.

More reading

• Why is the Polynovo (ASX:PNV) share price having such a tough time of late?
• 3 ASX 200 shares down more than 50% in 2021
• Why these 3 ASX shares all hit 52-week lows today
• Why has the Polynovo (ASX:PNV) share price tanked 15% in 3 weeks?
• Why the Polynovo (ASX:PNV) share price is edging higher today

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 shares of and has recommended POLYNOVO FPO. 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 Origin Energy Ltd (ASX: ORG) share price gained today amid the company’s annual general meeting (AGM) where its CEO outlined an improved outlook for financial year 2022.

Demand for LNG and high oil prices are now expected to lead the energy producer through a relatively stable financial year.

At Wednesday’s close, the Origin share price was $5.14, 0.98% higher than its previous close.

That’s a better performance than that of the broader market. The S&P/ASX 200 Index (ASX: XJO) finished Wednesday up 0.53% while the All Ordinaries Index (ASX: XAO) gained 0.48%.

Making Origin’s day in the green more impressive is the generally poor performance of its peers. The S&P/ASX 200 Energy Index (ASX: XEJ) dropped 1%.

Let’s take a closer look at the highlight of Origin’s AGM.

Origin improves FY22 guidance

The Origin share price might have responded to optimism at the company’s AGM on Wednesday.

There, CEO Frank Calabria stated it has already sold 3 LNG cargo ships to the tight Asian spot market this financial year.

When it released its full-year results in August, the company said it expected its energy market earnings to be lower through financial year 2022.

However, Origin’s now feeling more optimistic as the expected decline looks to be offset by a strong performance from Australia Pacific LNG. Cash flows from the joint venture should see Origin with more than $1 billion of extra cash in the bank, net of oil hedging.

The additional cash flow means Origin can invest in the energy transition.

Calabria also noted the oil price is currently sitting at more than US$80 per barrel. Since Origin has a breakeven price of between US$20 and US$25 a barrel, it’s looking at a healthy upside.  

However, the company hasn’t changed its guidance for the energy market’s underlying earnings before interest, tax, depreciation, and amortisation (EBITDA).

Previously, Origin stated the energy market’s EBITDA for financial year 2022 will be between $450 million and $600 million. Origin expects its Energy market earnings to improve by another $150 million to $250 million in financial year 2023.

Origin Energy share price snapshot

Today’s gains were much needed by the Origin Energy share price which has rallied more than 17% in the past month.

Origin shares are almost 8% higher than they were at the start of 2021. They’ve also gained 14% since this time last year.

The post Origin (ASX:ORG) share price lifts amid improved FY22 guidance appeared first on The Motley Fool Australia.

More reading

• Why has the Origin (ASX:ORG) share price rallied 17% in 3 weeks?
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• 5 things to watch on the ASX 200 on Friday
• Origin Energy (ASX:ORG) share price leaps 6% on investment news
• Why Beach, Collins Foods, Origin, & Tuas shares are racing higher

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 Doctor Care Anywhere Group PLC (ASX: DOC) share price is finding enthusiasm on Wednesday after releasing its third-quarter trading and activities update. The market has responded positively to the United Kingdom-based telehealth company’s record-setting quarter.

At the time of writing, shares in Doctor Care Anywhere are fetching 74.5 cents apiece, an increase of 6.43%. For comparison, the S&P/ASX 200 Index (ASX: XJO) is trading 0.82% higher heading into the afternoon.

Let’s peel back the wrapping on this quarterly surprise.

Why is the Doctor Care Anywhere share price surging today?

It was a solid quarter for the telehealth company. While some investors may have expected growth to slow down as a result of the UK’s lockdown restrictions ending, it had the opposite effect. To briefly summarise, here are some highlights from the quarter:

• Revenue increased 21.6% quarter on quarter to A$10.7 million
• Number of consultations grew by 30.6% quarter on quarter to 116,800
• Number of signups (or activated lives) reached 603,200
• Completed the acquisition of Australian telehealth and tele-mental provider, GP2U Telehealth
• A record 41,000 patients had their first consultation with the company
• Net operating cash outflows of A$4.24 million compared to A$1.11 million in the prior quarter.

What happened during the quarter?

In its first quarter since UK lockdowns had been lifted, Doctor Care Anywhere witnessed a re-acceleration in growth. This is demonstrated by the significant rise in revenue compared to the prior quarter. For instance, the A$10.7 million derived in Q3 is roughly half the total revenue collected in FY20.

Due to the reopening, wait times for appointments across the UK public health system have deteriorated. This has been a positive for the company, as more patients turn to a more convenient and efficient alternative.

In September alone, 45,800 consultations were handled, with 1,900 patients completing Doctor Care’s secondary care diagnostic pathway. The sudden influx in demand looks good for the Doctor Care Anywhere share price.

Illustrating the recurring nature of Doctor Care’s telehealth service, more than 65% of consultations were to returning patients. The company aims to scale in response to demand in a bid to increase its pool of returning patients.

Additionally, with the company attempting to capture the increase in demand, operating margins were depressed during Q3. This was as a result of Doctor Care increasing its investment in the supply of clinicians. However, it remains confident that these decisions will eventually lead to better margins in 2022.

While the numbers appeared to be positive for revenue growth, they came at a cost. Consequently, net operating cash outflows increased to A$4.24 million from A$1.11 million in the prior quarter.

Management commentary and outlook

Commenting on the third-quarter result, Doctor Care Anywhere CEO Dr Bayju Thakar said:

We are excited by the continuing rapid growth in demand for our services. The increasing volume of consultations and diagnostic referrals completed in Q3 provides further evidence that patients, doctors and insurers are seeing the benefits of our integrated digital offering.

The convenience that our solution provides is compelling for patients. We are also demonstrating value for doctors and insurers by removing inefficiencies and reducing costs throughout the patient journey.

Regarding its outlook, the company reaffirmed its previously set guidance for FY21, which involves achieving at least 100% organic year-on-year revenue growth. Notably, the revenue growth excludes contributions from its recently acquired Australian business.

Despite these factors, the Doctor Care Anywhere share price is still down 36% over the past year.

The post Doctor Care Anywhere (ASX:DOC) share price jumps 6% on record quarter appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• These 3 ASX 200 shares topped the volume charts this Wednesday
• 2 ASX 200 shares that keep growing their dividends
• Why is the LiveHire (ASX:LVH) share price tumbling 13% today?
• Which ASX 300 shares are the major movers today?

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. owns shares of and has recommended Doctor Care Anywhere Group PLC. The Motley Fool Australia has recommended Doctor Care Anywhere Group PLC. 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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Today, the S&P/ASX 200 Index (ASX: XJO) rallied on the back of another positive session in the US. The benchmark index moved 0.53% higher to 7,413.7 points.

Only two sectors finished in the red at the end of Wednesday’s day of trade. The two disappointing culprits were communications and energy, with considerable drawdowns in coal miners and oil producers.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Worley Ltd (ASX: WOR) was the biggest gainer today. Shares in the engineering company jumped 7.91% higher. This momentum came amid the announcement of a services contract by Shell for a low-carbon fuels facility in The Netherlands. Find out more about Worley here.

The next biggest gaining ASX share today was Codan Ltd (ASX: CDA). The metal detection services company climbed 7.63% despite no announcements from the company. Uncover the latest Codan details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Worley Ltd (ASX: WOR)	$11.32	7.91%
Codan Ltd (ASX: CDA)	$13.335	7.63%
Bapcor Ltd (ASX: BAP)	$8.08	5.21%
REA Group Ltd (ASX: REA)	$162.36	5.08%
The a2 Milk Company Ltd (ASX: A2M)	$7.32	5.02%
Orica Ltd (ASX: ORI)	$14.85	3.27%
Challenger Ltd (ASX: CGF)	$6.885	3.22%
Latitude Group Holdings Ltd (ASX: LFS)	$2.24	2.75%
Insurance Australia Group Ltd (ASX: IAG)	$5.005	2.56%
Brambles Ltd (ASX: BXB)	$10.43	2.56%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares topped the volume charts this Wednesday
• 2 ASX 200 shares that keep growing their dividends
• Which ASX 300 shares are the major movers today?
• Why is the Transurban (ASX:TCL) share price beating the ASX 200 today?
• Why is the Worley (ASX:WOR) share price leaping 10% on Wednesday?

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 owns shares of and has recommended Bapcor, Challenger Limited, and Insurance Australia Group Limited. The Motley Fool Australia has recommended A2 Milk and REA 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 S&P/ASX 200 Index (ASX: XJO) has had another day of pleasing gains this Wednesday. The ASX 200 closed up a healthy 0.53% to 7,413.7 points. That’s all well and good but let’s now check out the ASX 200 shares that topped the charts in terms of raw trading volume, according to investing.com.

3 most active ASX 200 shares by volume on Wednesday

South32 Ltd (ASX: S32)

This ASX 200 resources share is our first company to check out today The diversified miner has seen a sizeable 21.55 million of its shares trade on the markets today. South32 hasn’t released any major updates today. But that hasn’t stopped its share price from hitting the brakes.

The company’s shares finished the day down 1.29% to $3.83 apiece. Since South32 has a relatively low share price for its size, moves like this can often push the company to the top of the ASX 200 trading volume pile, which we seemed to see today.

Beach Energy Ltd (ASX: BPT)

The ASX 200 energy share Beach is next on our list. This Wednesday has seen a hefty 22.88 million Beach shares swap owners. This high number appears to be the result of Beach’s quarterly report which it released earlier this morning.

As my Fool colleague James covered today, this report outlined a 4% fall in oil production and an 8% slide in revenue despite higher oil prices in recent months. Investors didn’t take too kindly to the news and the Beach share price finished down a nasty 3.01% today at $1.45 a share. This is the likely cause of so many Beach shares trading today.

Whitehaven Coal Ltd (ASX: WHC)

Our third and final ASX 200 share today is yet another resources share in coal miner Whitehaven. Whitehaven has seen a whopping 25.69 million shares bought and sold on Wednesday. This surge in volume appears to be driven by news that “China’s top economic planner is looking at possibly intervening in its coal market”.

As my Fool colleague Kerry looked at earlier today, this has seen Whitehaven shares smashed. The miner fell as much as 10% this morning and closed today at $3.06 a share, down 7.55%. This is almost certainly behind the large trading volumes we saw with this company today.

The post These 3 ASX 200 shares topped the volume charts this Wednesday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• 2 ASX 200 shares that keep growing their dividends
• Which ASX 300 shares are the major movers today?
• Why is the Transurban (ASX:TCL) share price beating the ASX 200 today?
• Why Beach, Flight Centre, Tyro, and Whitehaven Coal are dropping

Motley Fool contributor Sebastian Bowen 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 are some S&P/ASX 200 Index (ASX: XJO) shares that have continued to grow their dividends for investors for several years in a row.

Whilst there are some businesses that have grown the dividend for many years in a row, such as Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) and APA Group (ASX: APA), there are others that have been growing the dividend at a much quicker rate.

However, just because a business pays a growing dividend doesn’t automatically make it worth owning.

Here are two of those businesses with growing dividends:

JB Hi-Fi Limited (ASX: JBH)

JB Hi-Fi is one of the largest retailers on the ASX, with three operating businesses – JB Hi-Fi Australia, JB Hi-Fi New Zealand and The Good Guys.

Combined, these businesses have been driving JB Hi-Fi’s profit and dividend higher.

JB Hi-Fi has grown its dividend every year since 2013.

FY21 was a big year for the company. The ASX 200 share saw net profit rise 67.4% to $506.1 million, earnings per share (EPS) grew by 67.5% to 440.8 cents and the full year dividend went up 51.9% to 287 cents per share. That means the dividend represented 65% of net profit for the year. In FY13, the annual dividend was $0.72 per share.

JB Hi-Fi’s board said it would continue to regularly review the group’s capital structure with “a focus on maximising returns to shareholders and maintaining balance sheet strength and flexibility.”

The company believes that its successful model is underpinned by five unique competitive advantages: scale, low cost operating model, quality store locations, supplier partnerships and multichannel.

At the current JB Hi-Fi share price, it has a trailing grossed-up dividend yield of 8.6%.

Domino’s Pizza Enterprises Ltd. (ASX: DMP)

Domino’s is another ASX 200 share that has grown its dividend for many years in a row.

The food business now has operations across ANZ, Asia (in Taiwan) and Europe. Indeed, it’s operating in 10 different markets.

Domino’s has grown its dividend every year since 2009 when it started paying one, giving it one of the longest dividend growth runs in the ASX 200.

The company managed to fulfil a lot of demand for online food ordering during FY21. Total network sales increased 14.6% to $3.74 billion, whilst online sales rose 21.5% to $2.93 billion.

Profitability increased at the various levels of the business. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 19.4% to $424.9 million, earnings before interest and tax (EBIT) grew by 27.2% to $293 million and net profit grew 29.2% to $188.2 million.

But, free cashflow rose the most – rising 40.2% to $216.2 million. The Domino’s board decided to increase the full year dividend by 45.4% to 173.3 cents per share.

Over the next three to five years, Domino’s said it’s expecting its same store sales to grow by between 3% to 6% and new organic store additions to be between 7% to 9% of the network.

The post 2 ASX 200 shares that keep growing their dividends appeared first on The Motley Fool Australia.

More reading

• Why is the Transurban (ASX:TCL) share price beating the ASX 200 today?
• ASX 200 (ASX:XJO) midday update: Kogan jumps, Flight Centre sinks
• 5 things to watch on the ASX 200 on Wednesday
• Why is the Vanguard MSCI Index International Shares ETF (ASX:VGS) underperforming the ASX 200 lately?
• Here are the top 10 ASX shares today

Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company 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 APA Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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 LiveHire Ltd (ASX: LVH) share price is plummeting today on the back of the company’s latest quarterly report.

At the time of writing, the LiveHire share price is 34 cents, 12.82% lower than its previous close.

Let’s take a look at the quarter just been for LiveHire.

But first, what is LiveHire?

LiveHire operates a cloud-based human resources platform focused on the hiring process.

It operates in 2 segments, its Talent Community, a software-as-a-service, and its Direct Sourcing business, which allows large organisations to use Talent Community to source and hire contract-based employees.

The company has been listed on the ASX since 2016.

The quarter that’s been for LiveHire

The LiveHire share price is dropping today despite the company’s North American Direct Sourcing business reporting 700% more revenue than it did in the prior comparable quarter.

The business’ revenue came to $576,000 over the quarter just been. While that was significantly more than the first quarter of financial year 2021, it was down from $686,000 in the previous quarter.

The business also onboarded 3 new clients, bringing its total number of clients up to 17.  All up, that’s an estimated contract value of $5.4 million.

The company believes its Direct Sources business is on track to have around 36 clients by the end of this financial year.

The company’ software-as-a-service business brought in 8 new clients over the quarter just been. However, it lost 5 in the process. As of 30 September, it had 141 clients.

Talent Community’s annual reoccurring revenue was $4.5 million at quarter’s end – 3.5% more than it was at the end of the previous quarter.

The business’ client retention also improved. It increased from 91% to 96%.

LiveHire reported it received $1.6 million of cash receipts over the first quarter.

It also saw its operating cash burn increase to $2.3 million, down from the fourth quarter’s $1.6 million cash burn.

It ended the quarter with $13.2 million in cash, enough to fund another 9 quarters identical to its last.

LiveHire share price snapshot

While today has been a tough one for the LiveHire share price, it’s been performing well this year.

Right now, it is 21% higher than it was at the start of 2021. It has also gained 6% since this time last year.

The post Why is the LiveHire (ASX:LVH) share price tumbling 13% today? appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are the major movers today?
• The Bubs (ASX:BUB) share price is up 40% in 6 days. Here’s why
• Why is the Transurban (ASX:TCL) share price beating the ASX 200 today?
• Atlas Arteria (ASX:ALX) share price gains on revenue update
• Lake Resources (ASX:LKE) share price jumps 19%, charges to an all-time high

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 S&P/ASX 300 Index (ASX: XKO) is rebounding in positive territory on Wednesday after losing some minor ground yesterday.

During late-afternoon trade, the ASX 300 is up 0.66% to 7,433.8 points. This means that the index is currently 2.07% higher in the past week.

Let’s take a look at which ASX companies are making headlines today.

Worley Ltd (ASX: WOR)

The Worley share price is rocketing 8.77% to $11.41 today.

The engineering company revealed that it has been awarded a services contract by Shell for a low-carbon fuels facility in The Netherlands.

When online, the plant will be able to produce around 820,000 tonnes of low-carbon fuels every year. It is expected to be a key supplier of sustainable aviation fuel (SAF) and renewable diesel from waste products.

Swiss investment firm UBS also revised its outlook on Worley shares by adding 13% on its price target to $13.20.

Codan Ltd (ASX: CDA)

Adding gains to the ASX 300 is the Codan share price, up 7.51% to $13.32.

While there haven’t been any announcements from the metal detection services company, it appears its shares have found the bottom. Codan shares have been on a gradual decline for a number of months.

Since hitting an all-time high of $19.43 in mid-June, the company’s shares have lost approximately 32% in value for investors.

REA Group Ltd (ASX: REA)

Another big mover on the ASX 300 is the REA share price, up 6.08% to $163.91.

The property listings company also hasn’t reported any market-sensitive news since its full-year results in early August.

It’s worth noting that REA shares have gained more than 7% in a week following positive investor sentiment in the company. Its shares are roughly 6% off breaking the record high of $173.11 reached a few months ago.

And which ASX 300 companies are heading the other way?

Whitehaven Coal Ltd (ASX: WHC)

In decline today is the Whitehaven share price, down a sizeable 8.46% to $3.03.

The coal miner’s shares are deep in the red after a sharp pullback in coal prices. Currently, the spot price for thermal coal is fetching US$233.00 a tonne. This represents a decline of 4.27% in the past 5 business days.

Yancoal Australia Ltd (ASX: YAL)

Without surprise, also trailing not far behind is the Yancoal share price, down 7.01% to $3.45.

The energy producer’s shares frequently make the ASX 300 headlines, bouncing from the top gains to the biggest loser.

It’s worth noting that a number of ASX energy sector companies are also freefalling today. The S&P/ASX200 Energy Index (ASX: XEJ) is down 1% to 8,852 points. 

The post Which ASX 300 shares are the major movers today? appeared first on The Motley Fool Australia.

More reading

• Why Beach, Flight Centre, Tyro, and Whitehaven Coal are dropping
• Why is the Worley (ASX:WOR) share price leaping 10% on Wednesday?
• Why the Whitehaven Coal (ASX:WHC) share price is plunging 6% on Wednesday
• Why is the VAS (ASX:VAS) share price underperforming the ASX 200 over the past month?
• Which ASX 300 shares are the biggest winners and losers on Tuesday?

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 REA 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 Bubs Australia Ltd (ASX: BUB) share price is climbing once again, having gained more than 6% since the market open today.

At the time of writing, shares in the organic baby food company are changing hands at 51 cents after hitting an intraday high of 52 cents.

What’s fuelling the Bubs share price lately?

Today’s gains extend Bubs’ rally over the past 6 days to a 40% run into the green, well ahead of the benchmark S&P/ASX 200 Index (ASX: XJO)’s return of 2% in that time.

Bubs shares had popped on the release of the company’s Q1 trading update where it delivered a stellar 96% year on year and 45% sequential growth in revenue to $18.5 million.

Infant formula revenues alone came in 124% on top of the same time last year and 64% ahead of Q4 FY21.

This quarter’s tremendous growth was underscored by Bubs’ exposure to the re-emerging consumer market of China.

For instance, combined sales from each cross-border sales channel into China increased 156% year over year, demonstrating the aggregate demand in the Chinese infant formula market once again.

In fact, Bubs posted an approximate 490% year on year gain total gross international revenue, further alluding to this sentiment.

Doubtless, shareholders welcomed the company’s performance which comes after a series of underwhelming earnings results in the last several quarters. Bubs shares spiked to close almost 40% higher on the day of its Q1 earnings update.

Since then, leading broker Bell Potter chimed in and upgraded its rating on the company’s shares to a buy, assigning a 65 cent price target on the infant formula behemoth.

It cited the company’s strong Q1 FY22 results as a reason for the upgrade, alongside an improved trade outlook into China.

The broker’s valuation implies a 29% upside potential from the current Bubs share price, indicating its bullish stance on the investment opportunity.

Bubs share price snapshot

Bubs shares have had an incredibly difficult year to date, marred by instability and controversy in its end-markets.

As such, it is swimming in a sea of red these past 12 months, having posted a loss of 32% in the last year and down 14% since January 1.

These results significantly lag the benchmark index’s return of around 19% in the last year.

The post The Bubs (ASX:BUB) share price is up 40% in 6 days. Here’s why appeared first on The Motley Fool Australia.

More reading

• A2 Milk (ASX:A2M) share price ticks higher as UBS increases holding
• ASX 200 (ASX:XJO) midday update: HUB24 & Netwealth impress, A2 Milk surges again
• Bubs (ASX:BUB) share price jumps a further 13% on broker upgrade
• 3 reasons why Bubs (ASX:BUB) shares could be worth owning
• Bubs (ASX:BUB) share price rockets 17% on revenue growth

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 recommended BUBS AUST 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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