Tag: Motley Fool

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.

When the time comes for Warren Buffett to step aside as CEO of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), vice chairman Greg Abel will be the person who replaces him.

Investors have been speculating for years about who would step in once Buffett, who is 90, and 97-year-old vice chairman Charlie Munger retire. Most assumed Abel, who runs Berkshire’s non-insurance business, and Ajit Jain were the most likely candidates.

On Saturday, Munger inadvertently provided the answer. Speaking at Berkshire’s annual meeting, Munger said he is confident “Greg will keep the culture” that he and Buffett have put in place well after the duo are gone.

On Monday, Buffett confirmed on CNBC that Abel was the choice, saying that “the directors are in agreement that if something were to happen to me tonight, it would be Greg who’d take over tomorrow morning.” Buffett also praised Jain, who runs Berkshire’s insurance operations, saying, “If, heaven forbid, anything happened to Greg tonight, then it would be Ajit.”

Abel and Jain were both promoted to vice chairmen in 2018, and observers have assumed that the two were the primary candidates to one day take over. While Jain runs Berkshire’s core insurance businesses, which provide the capital and fuel that make the conglomerate tick, Abel arguably has a broader view of the global economy and different industries through his position.

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

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Lou Whiteman owns shares of Berkshire Hathaway (B shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Berkshire Hathaway (B shares) and recommends the following options: short January 2023 $200 puts on Berkshire Hathaway (B shares), short June 2021 $240 calls on Berkshire Hathaway (B shares), and long January 2023 $200 calls on Berkshire Hathaway (B shares). The Motley Fool Australia has recommended Berkshire Hathaway (B shares). 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.

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The ResApp Health Ltd (ASX: RAP) share price is racing higher in mid-morning trade. This comes after the company announced a new agreement to accelerate sales in ResAppDx.

At the time of writing, the digital health company’s shares are fetching for 5.4 cents apiece, up 5.8%.

New agreement to accelerate ResApp sales

ResApp shares are on the move today as investors are pleased with the company’s latest update.

In a statement to the ASX, ResApp advised it has entered into a non-exclusive distribution agreement with Ilara Health.

Founded in 2019, Ilara Health provides affordable diagnostic equipment and services to small clinics and pharmacies across Africa. The company specialises in artificial intelligence medical devices such as portable ultrasound and blood diagnostics for diabetes. The current opportunity represents a market of more than 500 million people who live on the sub-Saharan Africa continent.

The deal will see ResApp provide its software application ResAppDx to Ilara Health for acute respiratory disease diagnosis in Kenya. This follows a successful pilot test undertaken by Ilara Health using ResAppDx at five partner sites in the country.

ResAppDx is a smartphone-based acute respiratory diagnostic test that has been developed to diagnose a range of health issues. These include lower respiratory tract disease, croup, pneumonia, asthma/reactive airway disease exacerbation, COPD exacerbation and bronchiolitis.

At present, Ilara Health has partnerships with over 250 clinics across four of the largest cities in Kenya. In addition, the healthcare provider is seeking to expand into a new African market within the next 12 months. This provides ResApp with a lucrative opportunity should sales meet targets.

The agreement has an initial term of 3 years, with Ilara Health to promote, market and sell ResAppDx in Kenya. Should the collaboration become successful, the deal can be renewed for consecutive 12-months periods by both parties.

Management commentary

Ilara Health CEO and co-founder, Emilian Popa welcomed the partnership, saying:

We have been thrilled with the simplicity, ease of use and confidence that ResAppDx has instilled in clinicians and patients. We see significant benefits that ResAppDx offers our partner clinics across Kenya as a low-cost and accurate respiratory diagnostic test.

ResApp CEO and managing director, Dr Tony Keating went on to add:

We are pleased that Ilara has seen the considerable value that our important diagnostic support provides their customers. Importantly, the pilot evaluation demonstrated the benefits of ResAppDx in a face-to-face, in-clinic setting and in a country with high unmet need for such diagnostics.

We are confident, that with the learnings from this pilot, Ilara Health will be able to bring the value of ResAppDx to a broad range of clinics in Kenya for the benefit of many clinicians and patients.

ResApp share price summary

Despite today’s positive announcement, ResApp shares have failed to take off in 2020, down almost 40%. When looking over the past 12 months, the company’s shares have fallen close to 70%.

ResApp presides a market capitalisation of roughly $46 million, with approximately 859.1 million shares outstanding.

More reading

• Why the ResApp (ASX:RAP) share price is down 9% today

Motley Fool contributor Aaron Teboneras 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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May 2021 could be a good month to look at some ASX tech shares.

There are lots of high quality options available to Aussie investors. Some of them have been sold down in recent months.

These two potential investments could be ones to think about:

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

This exchange-traded fund (ETF) is all about the video gaming and e-sports industry.

The video gaming industry has achieved 12% average revenue growth per annum since 2015. E-sports in-particular has grown strongly with revenue growth of 28% per annum since 2015.

VanEck says there’s now more than 2.7 billion active gamers worldwide. The video gaming business is now larger than both the movie and music industries combined, making it an important industry in entertainment.

There’s a lot of interest when it comes to watching e-sports, with the biggest tournaments getting crowds that aren’t far off World Cup football and the Olympic Games numbers.

The Asia Pacific region is forecast to generate game revenue of US$78.4 billion in 2020, accounting for 49% of the global games market. The Middle East and Africa region is expected to be the fastest growing games market in 2020, growing 14.5% year on year to US$5.4 billion.

E-sports has created new potential revenue streams with game publisher fees, media rights, merchandise, ticket sales and advertising.

This ETF has plenty of quality businesses with good growth potential in the gaming space such as Nvidia, Tencent, Advanced Micro Devices, Sea, Nintendo, Activision Blizzard, Netease and Take Two Interactive Software.

The management fee cost is 0.55%, which is cheaper than many active fund managers.

Temple & Webster Group Ltd (ASX: TPW)

This ASX tech share is one of leading online retailers of furniture and homewares in Australia.

It has over 200,000 products on sale from hundreds of different suppliers. It operates with a drop-shipping model where products are sent directly to customers by suppliers. This means that Temple & Webster can have a larger product range, have faster delivery and it reduces the need to hold inventory.

Temple & Webster is going to invest heavily for growth to capture market share to generate longer-term returns. One of the main things it’s going to do is build strong brand awareness to achieve national brand status within the next three years with a high level of marketing to drive both first time and repeat customers.

It’s expecting the earnings before interest, tax, depreciation and amortisation (EBITDA) margin to be in the 2% to 4% range during this period.

After that, increased scale should come with operating leverage and higher levels of profitability. This should mean it can achieve better margins with improved supplier terms, more repeat customers (which will reduce marketing costs), a slowing of investment in fixed costs and a higher percentage of exclusive products with higher gross margins.

Longer-term profit margins are expected to be higher than many comparable offline peers.  

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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 Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd and VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. 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 DEXUS Property Group (ASX: DXS) share price is bouncing around in early morning trade, up 0.3% at the time of writing.

Dexus manages a portfolio of properties across Australia valued at $32.1 billion. Below we take a look at the ASX real estate share’s latest quarterly report.

What did Dexus report for the quarter?

Dexus’ share price is seeking direction after the company reported that occupancy rates across CBD office locations have increased since the COVID-19 vaccine rollout commenced during the quarter ending 31 March. Dexus maintained high rent collections of 96% during the quarter.

Commenting on the office market rebound, Darren Steinberg, Dexus CEO said:

It is pleasing to see momentum in leasing activity across our CBD office markets. Tenant enquiry and activity across our office portfolio has been strong particularly for smaller tenancies, and larger occupier briefs are starting to emerge. The significant number of leasing transactions completed during the quarter is encouraging and highlights the demand for quality workspace in well-located CBD assets.

On the property front, Dexus noted it had raised $125 million for its Dexus Healthcare Property Fund during the quarter, as well as completing 108 leasing transactions in its office portfolio, totalling 46,703 square metres of space. Office occupancy stood at 95.4%.

Dexus was also active in the industrial space, with 37 transactions seeing 117,747 square metres leased. Industrial occupancy increased to 97.8%.

The company reported that it’s continuing work on expanding and diversifying its funds management business. Initiatives include establishing a new office joint venture, as well as securing approval for the merger of the $5.4 billion AMP Capital Diversified Property Fund with Dexus Wholesale Property Fund.

Commenting on the funds management business, Steinberg said:

We are pleased with the continued momentum across the funds platform, as we progressed initiatives in DWPF, healthcare and our new opportunity fund. Our continued focus on our relationships with third party capital partners will assist with opportunities we have in the pipeline

Dexus also obtained shareholder approval on 22 April for plans to simplify its corporate structure.

Looking ahead

With a look to the future Steinberg said:

Moving forward, we will continue to execute on our strategic initiatives which include increasing the resilience of portfolio income streams, expanding and diversifying the funds management business, and progressing the development pipeline to drive superior risk-adjusted returns for investors.

Dexus maintained its guidance on its dividend distribution for the 2021 financial year, expecting to pay 50.3 cents per share, the same payout as FY20.

Dexus share price snapshot

Over the past 12 months, Dexus shares have gained 17%, trailing the 33% gains posted by the S&P/ASX 200 Index (ASX: XJO).

So far in 2021, the Dexus share price is up 9%.

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Motley Fool contributor Bernd Struben 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 Leigh Creek Energy Ltd (ASX: LCK) were flying high this morning after the company broke its 3-day trading halt with major news of its energy project.

After touching a high of 30 cents in opening trade, the Leigh Creek Energy share price has retreated to 28 cents at the time of writing, up 3.7%.

Let’s take a closer look at the energy company’s news.

Leigh Creek Energy Project

Leigh Creek announced it has signed a binding heads of agreement (HoA) for a urea manufacturing facility with South Korean engineering and construction company DL E&C.

Under the agreement, DL E&C will become the engineering, procurement, construction, and commissioning (EPCC) contractor at the Leigh Creek Energy Project, a large-scale power plant and construct urea plant in South Australia.

As EPCC contractor, DL E&C will begin work on the project’s feasibility and front end engineering and design (FEED) stages. The contractor will finance the project with Leigh Creek Energy’s assistance, building it for a to-be-decided turn-key price.

The project is located in the disused Leigh Creek Coalfield. It will produce syngas from the resource that is no longer economic to mine using an in-situ gasification process. Leigh Creek Energy will use the syngas to produce urea fertiliser with hydrogen optionality.

According to the company, the Leigh Creek Energy project will be the only fully integrated urea production facility in Australia. It said the project would create thousands of jobs during construction, commissioning and operation.

Commentary from management

Leigh Creek Energy managing director Phil Staveley commented on the news, saying:

This HoA is a major milestone for [Leigh Creek Energy] as we are partnering with a leading global organisation with huge experience.

We have chosen DL E&C from a pool of contenders as we are confident that they can deliver a first class urea production facility which will employ the latest innovative technology and that they will be a reliable partner.

Leigh Creek Energy share price snapshot

Leigh Creek Energy’s trading halt was watched closely by ASX investors waiting to hear the company’s announcement.

With today’s gains included, the Leigh Creek Energy share price is up 61.7% year to date. It’s also up 205% over the last 12 months.

The energy company has a market capitalisation of around $179 million, with approximately 675 million shares outstanding.

More reading

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Motley Fool contributor Brooke Cooper 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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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.2% to 7,041.9 points.

Here’s what is happening on the market today:

SEEK share price hits record high

The SEEK Limited (ASX: SEK) share price stormed to a record high this morning following the release of an update. The update revealed that all conditions precedent to completion of the Zhaopin transaction have been satisfied. Following its divestment, management intends to return some of the proceeds to shareholders via a 20 cents per share special dividend. SEEK also revealed that its performance has been stronger than expected in FY 2021. As a result, it has upgraded its guidance.

Flight Centre Q3 update disappoints

The Flight Centre Travel Group Ltd (ASX: FLT) share price is trading lower today following the release of a third quarter update. That update revealed that trading was subdued in January and February before bouncing back strongly in March. Nevertheless, despite these improvements, Flight Centre advised that it expects to report an underlying second half loss in line with the one recorded in the first half.

Super Retail impresses

The Super Retail Group Ltd (ASX: SUL) share price is pushing higher today after reporting an acceleration in its sales growth since the end of the first half. According to the release, the retail conglomerate’s like for like sales grew 28% during the first 44 weeks of FY 2021. This compares to its first half (26 weeks) like for like sales growth of 24%.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the De Grey Mining Limited (ASX: DEG) share price with a 9% gain. This follows the release of drill results from the Diucon-Eagle mining sites in the Hemi prospect. The worst performer has been the Mercury NZ Ltd (ASX: MCY) share price with a 5% decline on no news.

More reading

• What’s happening with the Dexus (ASX:DXS) share price today?
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Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and SEEK 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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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.

The next upgrade cycle for Apple (NASDAQ: AAPL) iPhones is going to be part of a “super replacement cycle,” and an analyst is predicting the tech giant will be offering a foldable iPhone in 2023 to coincide with the trend.

MacRumors reported on Sunday that it has seen a research note to investors from TF International Securities analyst Ming-Chi Kuo, who says the feature-rich phone will offer an 8-inch QHD+ flexible OLED display. He forecasts Apple will ship 15 million to 20 million foldable iPhones in 2023.

In a rather upbeat and bullish note, Kuo said Apple is likely to be the biggest winner among manufacturers of foldable smartphones, which will become the obligatory tech that consumers need to have.

Currently, a foldable phone is designed to bring together the convenience and power of a smartphone and tablet computer, but further technological developments will add in the discrete capabilities of laptops, too.

Kuo wrote that Apple has a powerful, long-term edge over the competition. “With its cross-product ecosystems and hardware design advantages, Apple will be the biggest winner in the new foldable device trend,” he said.

The analyst says development hasn’t officially begun yet on the foldable iPhone, but he was making the prediction based on his latest industry survey.

Samsung has been a leader in foldable phones, releasing the Galaxy Fold in 2019. It has since been joined by LG and Motorola, though LG announced it was exiting the smartphone market.

Kuo believes all major smartphone manufacturers will need to have a foldable device, since it will be the center point of the next “super replacement cycle” for high-end models. But this is not the first time speculation has surfaced over Apple developing a foldable phone.

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

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Apple and recommends the following options: short March 2023 $130 calls on Apple and long March 2023 $120 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120.0 calls on Apple and short March 2023 $130.0 calls on Apple. The Motley Fool has a disclosure policy.

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

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The Odyssey Gold Ltd (ASX: ODY) share price has been an incredible performer on Tuesday.

In morning trade, the gold explorer’s shares were up a whopping 118% to a record high of 15.5 cents.

The Odyssey Gold share price has now given back some of these gains but remains 69% higher at 12 cents at the time of writing.

Why is the Odyssey Gold share price rocketing higher?

Investors have been scrambling to buy the company’s shares on Tuesday following the release of an update on its exploration activities at the Tuckanarra project.

As you might have guessed from the performance of the Odyssey Gold share price, the update was a very positive one.

According to the release, Odyssey has intersected significant visible gold in its maiden diamond hole. This was a 70 metre step-out in the eastern extension of the developing Bottle Dump deposit at Tuckanarra.

Management notes that this is the first ever drilling in an untested area, with the visible gold mineralisation associated with the nearby basal quartz vein system.

It believes this indicates a second mineralised domain, parallel to the mineralisation in the main mine banded-iron formation sequence.

Odyssey Gold’s Executive Director, Matt Syme, commented: “The impressive visible gold intersected at Bottle Dump confirms the strong potential of the Bottle Dump trend to host high-grade gold mineralisation. The visible gold in TCKDD0003 and the 13m at 3.9g/t in TKRC0014 have extended known gold mineralisation over 100m to the east of the Bottle Dump pit.”

“The potential extent of the Bottle Dump trend is up to 3km and the known gold mineralisation is open to the east and west and at depth. Odyssey has consolidated some of the best gold exploration ground in the Western Australian Goldfields and we are looking forward to applying modern exploration techniques to uncover the area’s outstanding potential,” he concluded.

The Odyssey Gold share price is now up almost 400% since its re-listing at 2.5 cents per share in January.

More reading

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Motley Fool contributor James Mickleboro 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 Nine Entertainment Co. Holdings Ltd (ASX: NEC) share price has provided key third-quarter updates as part of its presentation to the Macquarie Australia Conference. 

At the time of writing, the Nine Entertainment share price is trading for $2.85, up 0.71%. 

Nine third-quarter update

Nine estimates that by FY22, more than half its revenue will come from digital growth segments. This includes subscription and licensing such as Stan, marketplaces including its majority shareholding of Domain Holdings Australia Ltd (ASX: DHG), and online advertising.

To date, the company has made an impressive transition and investment into digital growth segments. At the same time, it has been building on its core broadcasting and traditional advertising businesses. 

Solid broadcasting performance 

Nine’s broadcasting segment contributed to approximately 53.5% of the Group’s revenue in 1H21. Free-to-air (FTA) television is a significant driver of this segment, responsible for 85% of broadcasting revenue. 

The trading update highlights a 6% increase on the prior corresponding period (pcp) for Metro FTA market revenue. While broadcast-video-on-demand (BVOD) market revenue was 50% higher with growth trends expected to continue into the fourth quarter. Despite the strong growth of BVOD, it is worth noting that these segments only contributed approximately 9% of overall broadcasting revenues in 1H21. 

Digital subscriptions driving publishing revenues 

Nine’s publishing segment contributed to 22% of the Group’s revenue in 1H21. This segment is heavily driven by the growth of digital revenues, whereas print-related growth has either plateaued or is in decline. 

Digital subscription revenue continued to grow strongly into the third quarter, up 20% on the prior corresponding period. The company has also clamped down on publishing costs, down double digits in FY21. 

Nine is notes that it is in advanced discussions with Google and Facebook. 

Streaming services growth consolidating

Nine reveals that subscriber numbers for its Stan streaming service is consolidating post-COVID. The plateauing near-term growth of streaming services should come as no surprise following Netflix’s disappointing first quarter earnings. Nine eyes the commencement of Stan Sports and deal with NBCUniversal content to drive medium term subscriber numbers. 

The update notes that second half earnings before interest, taxes, depreciation, and amortisation (EBITDA) will be lower than the first half due to content phasing. Stan delivered a 28% increase in revenue to $14.9.1 million in 1H21, or approximately 12.8% of Group revenue. 

Hot property market driving Domain earnings 

Digital revenue was up 8% and total revenue was up 2% in the third quarter. The update highlights that April’s new residential listings rebounded strongly from April 2020’s COVID-impacted base. Property indicators remain positive evidenced by record property search volumes, open home attendances, clearance rates, and new account creation at Domain Home Loans.

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Motley Fool contributor Kerry Sun 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 Archer Materials Ltd (ASX: AXE) share price is lifting off during morning trade following the company’s announced partnership agreement.

At the time of writing, the advanced material company’s shares are going for 90.5 cents a pop, up 6.4%.

What’s driving the Archer share price higher?

Investors are pushing Archer shares higher today after the company provided a positive update.

According to its release, Archer advised it has executed a new quantum computing agreement with IBM Common Stock (NYSE: IBM).

Under the framework, both companies will work together in developing quantum computing. Archer will retain membership to the global IBM Quantum Network as well as the related IBM Quantum Start-up Program.

In addition, the collaboration also gives Archer the opportunity to advance its work under the previous agreement signed with IBM. This entailed Archer becoming a member of the invitation-only IBM Q Network and associated IBM Quantum Experience for Business program.

As a result of the agreements, Archer will have continued access to IBM’s quantum computing knowledge and resources. This supports the company’s efforts in building a qubit processor chip that can operate at room temperature and integrate into modern electronics.

Current quantum computing technologies are limited because they use qubit processors that can only operate at low temperatures and are difficult to integrate into today’s applications.

Archer CEO, Dr Mohammad Choucair hailed the partnership with IBM, saying:

We are at an early stage in terms of the work that needs to be done with IBM, so we are looking forward to our continued collaboration.

When we see what has been achieved in the quantum ecosystem to date, we are determined to actively engaging in, and contributing to, the global IBM Quantum Network.

Archer is making crucial steps towards its goal of enabling practical quantum computing applications, and IBM is helping us get there.

The Archer share price has gained over 350% in the past 12 months and is currently sitting above 60% year-to-date.

More reading

• Here’s why the Archer Materials (ASX:AXE) share price is up today
• Archer (ASX:AXE) share price retreats despite positive update

Motley Fool contributor Aaron Teboneras 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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