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The Humm Group Ltd (ASX: HUM) share price is in the green on Tuesday morning. This comes as the financial services company announces a new partnership.

At the time of writing, Humm shares are up 1.24% to 98.2 cents apiece.

What did Humm update the ASX with?

Investors appear to be welcoming the company’s latest positive update.

According to its release, Humm advised it has partnered with LG Energy Solution to enter the Virtual Power Plant (VPP) market.

VPP is considered a cleaner alternative to traditional power stations that consume a large amount of space. As such, VPP delivers power by combining the energy from rooftop solar panels and battery storage systems around the country. This technology can be remotely controlled, distributing electricity across the grid.

In addition, the battery storage systems can put excess power in the bank for when it’s needed during peak times.

The collaboration between both parties is a major win as Humm is the leading financier of solar installations in Australia. The company has financed more than $2.2 billion in residential rooftop solar panels since its inception in 2010.

On the other hand, LG Solution is a world leader in lithium battery technology for residential, grid-scale, IT, appliance, and electric vehicle use. It is also recognised as the most popular brand with installers looking for solar energy solutions.

Humm estimates the solar and battery market will more than double to around $5 billion per year by 2025. VPP is predicted to become the leading category for solar and battery sales over the medium term.

Both phase 1 and 2 VPP trials in South Australia have been successful with a network of more than 1,000 energy storage systems. Humm is aiming to have 10,000 virtual network and energy storage systems installed by the end of FY23.

Renewable energy retail company Diamond Energy has been appointed as the partnership’s electricity retailer.

What did management say?

Humm CEO Rebecca James commented:

Making renewable energy affordable for Australian homeowners has been a cornerstone of Humm for over a decade now, with more than 350 active solar merchants and $547 million of Climate Bond certified Green bonds issued during this time.

Forging into the VPP market, with a technology partner like LG Energy Solution and a retail partner like Diamond Energy will enable us to deliver quality, simplicity and great energy savings to our customers.

VPP is a natural progression for us with 265,000 solar systems financed since 2010. This new channel advances Humm’s leadership position by adding to our existing in-home sales and corporate energy finance channels as green energy continues to evolve.

About the Humm share price

It’s been a whirlwind year for Humm shareholders, with the company’s share price down more than 12% year-to-date.

On valuation metrics, Humm presides a market capitalisation of roughly $485.3 million, with approximately 495 million shares outstanding.

The post Humm (ASX:HUM) share price rises after partnership announced appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Humm 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 American Rare Earths Ltd (ASX: ARR) share price has jumped into the green today.

At one stage this morning, the shares were skyrocketing by 19%. However, at the time of writing they have partially retreated and are swapping hands for 9.4 cents, still a gain of 11.9% on yesterday’s closing price.

The move comes as the company released drilling estimates from its La Paz site earlier today.

Quick refresher on American Rare Earths

American Rare Earths is in the mining and exploration business.

Its geographical footprint lies in the Murray Basin and at Broken Hill, alongside its interests at the La Paz Rare Earth project and the Thackaringa Cobalt project.

American Rare Earths has a market capitalisation of $28.9 million at the time of writing.

What did the company release?

The company outlined drilling at La Paz delivered an “indicated resource estimate increase” of 117%.

Indicated resource estimates exhibited a growth from 16.2 million tonnes (MT) to 35.2MT, whilst JORC compliant resource tonnage increased by 33.1%.

Results of such magnitude demonstrates the La Paz site could be “one of the largest rare earths projects in North America”, according to the company.

Assay results obtained from this site also show it is an “environmentally stable resource” compared to “most other projects on the market”.

Additionally, American believes the announcement “supports the development of US domestic rare earths supply chain”.

Moreover, it also “highlights the strategic value of (the) assets” to the US Government.

Investors have favoured the announcement, pushing the American Rare Earths share price 19% into the green at one point today.

American Rare Earths shares are now exchanging hands at 9.4 cents, well below their 52-week high of 23.5 cents.

American Rare Earths share price snapshot

The American Rare Earths share price has posted a year-to-date return of 9%. It has also gained 317% in the last 12 months.

This has outpaced the S&P / ASX 200 Index (ASX: XJO)’s return of approximately 26% over the past year.

The post Why the American Rare Earths (ASX:ARR) share price soared 19% today appeared first on The Motley Fool Australia.

More reading

• Here’s why the Patrys (ASX:PAB) share price is tumbling 16% today
• Qantas (ASX:QAN) share price slips as airline stands down 2,500 crew
• Crown (ASX:CWN) share price up despite Crown Melbourne CEO exiting
• Why Tesla stock popped Monday
• Here’s why Affirm Holdings was up big on Monday

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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Patrys Limited (ASX: PAB) shares are tumbling in late morning trade. At the time of writing, the Patrys share price has slumped 16.33% following the company’s latest announcement.

Below we take a look at the ASX healthcare company’s update on its clinical trial preparation.

What update did Patrys report?

The Patrys share price is tanking after the company reported there were unanticipated delays in its PAT-DX1 clinical trial program.

Across a number of pre-clinical studies, PAT-DX1 has demonstrated significant ability to kill cancer cells.

In February, Patrys reported it had selected a “stable, high-yielding cell line suitable for the commercial production of clinical-grade PAT-DX1”. The company’s commercial contract manufacturer used this cell line to prepare the production and purification processes at its facility.

While the required materials were ordered 6 months in advance, the company reported that the COVID-19 pandemic has disrupted global reagent production and supply chains. Due to the proprietary nature of the reagents, Patrys said it is unable to source them from other suppliers.

Patrys now expects the engineering run for PAT-DX1 will be pushed back to the fourth quarter of this year. This will delay the start of its GMP toxicology studies to the first quarter of 2022, “pending the availability of GMP grade PAT-DX1”.

The company anticipates it will now submit a Human Research Ethics Application (HREA) for the phase 1 clinical trial in the second half of 2022.

Commenting on the delay, Patrys CEO James Campbell said it was obviously disappointing for the company and its loyal shareholders. He stressed that the delay is “based solely on global supply chains, not technical obstacles”.

Campbell added:

The recent data from ongoing pre-clinical studies has been extremely positive and has highlighted the many ways our deoxymabs may be able to improve the health of patients with a range of difficult to treat cancers.

We continue to work with our global suppliers to prepare for and initiate the first PAT-DX1 clinical trial in late 2022. In addition, we will continue to pursue a range of unique development opportunities for both PAT-DX1 and PAT-DX3.

Patrys share price snapshot

Despite today’s slide, the Patrys share price remains up more than 300% over the past 12 months, well outpacing the 28% gains posted by the All Ordinaries Index (ASX: XAO).

Year to date, the Patrys share price also continues to charge ahead, up 105% in 2021.

The post Here’s why the Patrys (ASX:PAB) share price is tumbling 16% today appeared first on The Motley Fool Australia.

More reading

• Here’s why the Patrys (ASX: PAB) share price is climbing 13% today

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 Qantas Airways Ltd (ASX: QAN) share price is down 1.86% in morning trade as the company announced it is standing down 2,500 crew for a likely period of 2 months.

Qantas is currently trading for $4.47 per share.

Why the temporary stand down?

The COVID-19 outbreak in New South Wales has seen domestic borders between the nation’s biggest states sealed.

While there is hope that travel between Victoria, South Australia and Queensland will resume once new community infections are eliminated, Qantas Group CEO Alan Joyce believes the Greater Sydney area won’t open for 2 or more months.

According to Joyce:

Based on current case numbers, it’s reasonable to assume that Sydney’s borders will be closed for at least another two months. We know it will take a few weeks once the outbreak is under control before other states open to New South Wales and normal travel can resume.

Qantas stressed that there will be no job losses for the 2,500 frontline Qantas and Jetstar employees being stood down.

The domestic pilots, cabin crew and airport workers impacted are mostly based in New South Wales. However, Qantas noted that employees in other states will also be affected due to the nature of its travel business. Employees will receive 2 weeks’ notice and paid through mid-August during the stand down.

“This is clearly the last thing we want to do but we’re now faced with an extended period of reduced flying and that means no work for a number of our people,” Joyce said. “Qantas and Jetstar have gone from operating almost 100 per cent of their usual domestic flying in May to less than 40 per cent in July because of lockdowns in three states.”

Joyce voiced hope that domestic travel levels may return to 50–60% of normal if Victoria, South Australia and Queensland reopen for travel.

He also noted that while the new stand down is “extremely challenging” for the 2,500 people involved, that things look very different to last year when the airline was forced to stand down more than 20,000 people, with most of its aircraft mothballed for months.

On the domestic front, Joyce sounded an optimistic tone, pointing to the importance of the national vaccine rollout. “Fortunately, we know that once borders do reopen, travel is at the top of people’s list and flying tends to come back quickly, so we can get our employees back to work,” he said.

Internationally, the outlook is murkier. According to Joyce:

The challenge around opening international borders remains. There are still several thousand Qantas and Jetstar crew who normally fly internationally and who have been on long periods of stand down since the pandemic began. Higher vaccination rates are also key to being able to fly overseas again and finally getting all our people back to work.

Qantas share price snapshot

Qantas’s share price has gained 41% over the past 12 months, compared to a gain of 26% on the S&P/ASX 200 Index (ASX: XJO).

Year-to-date, the Qantas share price has struggled, currently down 8% in 2021.

The post Qantas (ASX:QAN) share price slips as airline stands down 2,500 crew appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Crown Resorts Ltd (ASX: CWN) share price is in the green despite the company announcing Crown Melbourne’s CEO is leaving his role.

Xavier Walsh will step down from the top job at Crown Melbourne on 20 August.  He will continue to be available to the company until 9 December.

Right now, the Crown share price is $8.97, 0.45% higher that its previous closing price.

Let’s take a closer look at the latest news from Crown.

Crown Melbourne CEO steps down

The Crown share price is gaining this morning following news Crown Melbourne’s CEO will step down.

Walsh has held the top job at the Southbank casino since December 2020. Prior to his role as CEO of Crown Melbourne, he held various chief operating officer roles with Crown entities.

Crown stated it will appoint an interim CEO following consultation with the Victorian Commission for Gambling and Liquor Regulation.

Walsh’s resignation follows revelations at the Royal Commission into the suitability of Crown to hold Melbourne’s casino licence that Walsh was aware Crown Melbourne underpaid tax in 2018.

On June 7, the Commission heard Walsh began an internal investigation into the matter after the Royal Commission was announced. Interested readers can find a transcript of the revelations here.

The Crown share price fell 1.3% on the day the Commission heard the allegations.

Additionally, during the Royal Commission’s closing remarks, counsel assisting the Commission Adrian Finanzio said unless Crown makes changes to its leadership, it is unsuitable to hold a casino licence.

Finanzio said of Walsh:

In the time since he’s been thrust into positions of greater authority he has, with respect, not risen to the occasion in a way which can give any confidence that he has the necessary qualities to be a suitable associate of Crown.

Finanzio also said Crown’s chair Helen Coonan was unsuitable for her role.

The Crown share price fell 2.6% after the comments.

Closing submissions to the Royal Commission will be heard today.

Crown share price snapshot

Despite being in the green today, the Crown share price has been struggling lately.

Right now, it’s 7% lower than it was at the start of 2021. However, it has gained almost 3% since this time last year.  

The post Crown (ASX:CWN) share price up despite Crown Melbourne CEO exiting appeared first on The Motley Fool Australia.

More reading

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• Crown (ASX:CWN) share price slumps amid accusations against chair
• Here’s why the Crown Resorts (ASX:CWN) share price is in focus today

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

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

What happened

Shares of Affirm Holdings (NASDAQ:AFRM) jumped 14.8% in Monday’s trading session, according to data from S&P Global Market Intelligence. The fintech stock gained ground following news that Square (NYSE:SQ) would be acquiring Afterpay (OTC:AFTP.F) in an all-stock deal valued at approximately $29 billion.

AFRM data by YCharts

Square published a press release on Aug. 1 announcing that it would be acquiring Afterpay, a competitor in the buy-now, pay-later category that Affirm Holdings operates in. It looks like demand for the service category is heating up, and investors poured into Affirm Holdings stock in response to the big buyout news.

So what

Square’s acquisition of Afterpay is expected to close in the first quarter of 2022. This fintech power player’s acquisition of the Australia-based buy-now, pay-later specialist could result in a tougher competitive landscape. However, the market mostly appears to be reading the move as an affirmation of Affirm Holdings’ positioning for growth and the untapped value in the broader service category. Square stock also closed the day up roughly 10.7%.

Now what

Square’s acquisition of Afterpay boosts Affirm Holdings’ visibility as a potential buyout target, though the company doesn’t necessarily need to look for large-scale merger opportunities in order to remain competitive. Mobile-focused payment and financing services have seen huge growth over the last decade, but the market for these services still has big room for growth in the U.S. and other regions, and it should be able to support a breadth of winners across a variety of service categories.

Affirm Holdings now has a market capitalization of roughly $17.1 billion and is valued at approximately 15 times this year’s expected sales.

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

The post Here’s why Affirm holdings was up big on Monday appeared first on The Motley Fool Australia.

More reading

• Why the Afterpay (ASX:APT) share price is in the green today
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• Why the Afterpay (ASX:APT) share price is crashing 9% on Wednesday
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Keith Noonan has no positions in any stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Affirm Holdings, Inc., and Square. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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 NEXTDC Ltd (ASX: NXT) share price will be on watch later this month when it releases its full year results.

Ahead of the results release, I thought I would look at what the market is expecting from the data centre operator.

What is expected from NEXTDC in FY 2021?

Another strong full year result is expected from NEXTDC in FY 2021. A note out of Goldman Sachs reveals that its analysts are forecasting:

• Data Centre Revenue growth of 24% to $250 million. This compares to its guidance of $246 million to $251 million.
• Earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 26% to A$132 million. This compares to its guidance of $130 million to $133 million.
• A net loss after tax of $5 million.
• Capital expenditure of $393 million.
• Customers of 1,564, cross connects of 14,965,000, and contracted capacity of 75MW.

What else should investors look for?

Given how much growth is built into the NEXTDC share price, its outlook for FY 2022 will be of great importance.

Goldman Sachs is forecasting FY 2022 revenue of $298 million and EBITDA of $165 million. This is broadly in line with the market consensus estimate for the year ahead.

The broker has also pencilled in capital expenditure of $331 million. This includes $171 million on the S3 centre and $75 million on the M3 site.

Is the NEXTDC share price in the buy zone?

The team at Goldman Sachs remain very bullish on the NEXTDC share price.

At present they have a conviction buy rating and $14.80 price target on its shares. This implies potential upside of 12.5% over the next 12 months.

The broker commented: “We remain high-conviction on the growth profile ahead, forecasting +37MW contract wins across FY22-23E (=65% conversion of options). Combined with recent share price underperformance, this gives an attractive growth adjusted valuation. We reiterate our Buy (on CL) on NXT, the most compelling growth story in our coverage.”

The post Is the NEXTDC (ASX:NXT) share price in the buy zone before its FY 2021 results? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC 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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The Westpac Banking Corp (ASX: WBC) share price is in negative territory on Tuesday morning. This comes after the banking giant announced an update to the sale of one of its finance businesses.

At the time of writing, the bank’s shares are fetching $24.85, down 0.72%. In comparison, the S&P/ASX 200 Index (ASX: XJO) is sitting at 7,472 points, down 0.25%.

Westpac sells vendor finance business

According to the release, Westpac has completed the sale of its vendor finance business, Strategic Alliances, to Angle Finance.

Strategic Alliances supports third parties to fund small-ticket equipment finance loans for approximately 42,000 Australian businesses.

Based in Melbourne, Angle Finance is a non-bank asset finance company that services small and medium-sized enterprises. The business specialises in offering equipment finance of up to $200,000 for transport, construction, materials handling, and earthmoving equipment.

The transaction resulted in the transfer of roughly $500 million in customer loans to Angle Finance. However, the size of the portfolio means the sale will have little impact on Westpac’s balance sheet and capital ratios.

Westpac realised a small accounting loss on the sale in FY20. This was due to the transaction being structured with an initial payment on completion, followed by a deferred consideration payable over a two-year period.

Westpac also recently sold its vehicle dealer finance business to Angle Finance. This also resulted in a fall in the Westpac share price.

The vendor finance business previously operated out of Westpac subsidiary, Capital Finance Australia. Despite the sale, the bank will continue managing its remaining Capital Finance Australia equipment finance business.

Westpac chief executive of specialist businesses and group strategy Jason Yetton commented:

Westpac is pleased to have successfully executed the transaction which will help Australian businesses continue to finance small-ticket equipment loans to grow and be successful and help us become a simpler bank.

About the Westpac share price

Over the past 12 months, Westpac shares have accelerated by more than 50%, with year-to-date gains almost at 30%. The company’s share price reached a 52-week high of $27.12 in June, before slightly treading lower.

Westpac commands a market capitalisation of roughly $91.8 billion, and has over 3.6 billion shares on its registry.

The post Westpac (ASX:WBC) share price lower after sale of finance business appeared first on The Motley Fool Australia.

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• Leading brokers name 3 ASX shares to buy today
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Fortescue Metals Group Ltd (ASX: FMG) share price has delivered outsized returns over the previous 12 months.

Whereas the S&P/ASX 200 Index (ASX: XJO) has posted a return of around 23%, Fortescue shares have soared 36.5% into the green.

Despite this, Fortescue shares have lagged the broad index this year to date, posting a return of only 4%.

So is it a bad time for Fortescue Metals shares?

According to one leading broker, thankfully, this may not be the case.

An equity research report from JP Morgan reveals the investment bank still holds its conviction on Fortescue shares, reinstating a price target of $30 and overweight rating.

This price target implies an upside potential of approximately 22% from Fortescue’s current trading price of $24 and change.

Fortescue Metals also paid a dividend of $1.20 per share over the past 12 months, giving a dividend yield of 3.47% at the time of writing.

Therefore, it stands to reason that JP Morgan believes the Fortescue Metals share price has more room to run just yet.

What did JP Morgan say?

Analysts at JP Morgan were pleased with Fortescue’s “outstanding set of (Q4 FY21) results” that encompassed “record achievements, achieved price and in line costs”.

Additionally, Fortescue’s net cash position “materially exceeded our [JP Morgan’s] expectations and consensus”.

This also weighed in on the broker’s investment thesis. It stated that Fortescue “offers exposure to long-life operations, with attractive margins and expansion optionality over the long term”.

The broker also retained its “positive investment view” on the company from a number of tailwinds.

It stated: “Our FY22 earnings sit 16% above consensus…We continue to believe iron ore markets will remain buoyant on a multi-year view, and that the [Fortescue] stock can re-rate to reflect the company’s outstanding FCF generation”.

Bringing it all together, JP Morgan sees a robust investment case for Fortescue Metals shares.

Its final view on the company is “overweight rated on a sector-leading dividend yield, strong iron ore market conditions, significant mark-to-market upgrades” and attractive upside potential from its price target of $30.

Foolish takeaway

The Fortescue Metals share price has underperformed the broad index this year to date, although has delivered outsized returns over the last 12 months.

Despite this, Fortescue shares dipped 4% into the red over the past week.

JP Morgan retains its bullish outlook on Fortescue’s shares, assigning a price target of $30 based on its Q4 FY21 results. They maintain their overweight rating.

The post This leading broker believes Fortescue Metals (ASX:FMG) shares can lift appeared first on The Motley Fool Australia.

More reading

• Own Fortescue (ASX:FMG) shares? Here’s what to look for during reporting season
• Fortescue (ASX:FMG) share price under most pressure as iron ore crashes to bear market
• The Fortescue (ASX:FMG) share price is falling on Monday
• Why Fortescue, Over The Wire, Pro Medicus, & Whispir shares are dropping
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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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Monday night to discuss a huge day of takeovers, including Afterpay Ltd (ASX: APT), Square Inc (NYSE: SQ), Oil Search Ltd (ASX: OSH) and Santos Ltd (ASX: STO). Plus, house prices through the roof, and focus turns to Tuesday’s RBA interest rates decision.

The post Afterpay share price surges on takeover. Oil Search, Santos do a deal. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips 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 AFTERPAY T FPO, Square, and Twitter. The Motley Fool Australia owns shares of and has recommended AFTERPAY T 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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