Tag: Motley Fool

Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

88 Energy Ltd (ASX: 88E)

For a second week in a row, this oil and gas exploration company’s shares were easily the most traded share on the CommSec platform. 88 Energy’s shares accounting for 4.1% of trades, with 56% of the volume coming from buyers. Unfortunately for those buyers, the 88 Energy share price crashed 63% lower last week. This follows a disappointing update on its Merlin-1 project in northern Alaska.

Zip Co Ltd (ASX: Z1P)

Zip’s shares were popular with investors once again last week. The buy now pay later provider’s shares were attributable to 2.5% of trades on the platform, with 59% coming from the buy side. Positively, the Zip share price climbed 7.4% over the week and has continued its ascent this week thanks to a strong Q3 update today.

Red Sky Energy Limited (ASX: ROG)

This oil and gas acquisition and development company remains in the top five after accounting for 2.1% of trades on CommSec. And although almost two-thirds of these trades came from buyers, it couldn’t stop the Red Sky Energy share price falling 14% during the four days. This was despite the company revealing that its operations had exposure to an estimated 6.4m barrels of oil-equivalent.

Betashares Nasdaq 100 ETF (ASX: NDQ)

The Betashares Nasdaq 100 ETF was popular with investors last week. Its units were attributable to 1.9% of trades on the platform, with 68% of trades coming from buyers. A pullback in bond yields appears to have attracted investors to the tech-heavy index. Its units rose almost 4% last week.

Afterpay Ltd (ASX: APT)

As always, Afterpay’s shares were heavily traded last week. The payments giant’s shares were responsible for 1.4% of trades on CommSec. However, despite the Afterpay share price rising 15% over the four trading days, only 44% of trades came from buyers. Its shares took off following a positive update on its Afterpay Day event in the United States.

More reading

• ASX 200 flat: Zip rockets, Cleanaway higher, Regis-IGO announce Tropicana deal
• Why IGO, Orocobre, Splitit, & Zip shares are charging higher
• Zip (ASX:Z1P) share price races 11% higher on record Q3 performance
• These top 2 ASX 200 shares have thumped the index’s 2021 returns
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BETANASDAQ ETF UNITS and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It’s another cracking day for the ClearVue Technologies Ltd (ASX: CPV) share price. This comes as it rallies a further 17% higher to 69 cents a share.

In isolation, today’s performance alone is impressive, but the real eyebrow-raising occurs over a longer timeline. Taking a look at the bigger picture, the ClearVue share price is 65% higher now than it was a month ago. Right now you may be asking “what’s the fuel setting the photovoltaic company’s shares on fire? Let’s take a look.

Renewables are gaining interest

ClearVue’s share price has likely been the beneficiary in what seems to be an insatiable demand for renewable investments this year. To clarify, the company has developed glass that can harness solar energy, effectively turning windows into photovoltaic solar panels.

This means ClearVue could be accounted for in the same group as other recent renewable highflyers. These companies include:

• Solar and wind farm operator, Tilt Renewables Ltd (ASX: TLT) up 92% in the last 6 months;
• Solar farm operator Genex Power Ltd (ASX: GNX) up 24% in the last 6 months; and
• Freshly listed bioenergy producer, Delorean Corporation Ltd (ASX: DEL) up 95% since its ASX debut yesterday.

Much of the excitement stems from the US government’s $2 trillion (with a T) infrastructure and green energy plan. This is aimed at addressing climate change. Investors are clamming to get ahead of the curve, as governments begin to pour big money into renewables.

With a product that could see buildings making better use of all that vertical exposure, ClearVue is seeking to capture the spending needed to make a greener way of living.

Other news sending the ClearVue share price skyward

It’s more than a prototype — that’s what ClearVue has been pushing heavily with recent marketing efforts. The company emphasised this towards the end of March with its listing on the OTCQB, an over-the-counter market for early-stage companies in the US. Around the same time, ClearVue launched a marketing campaign targeting architects, façade engineers, and sustainability engineers.

In addition, ClearVue’s latest share price jump comes after the appointment of Japanese greenhouse leader, Tomita Technologies, as a distributor. The agreement will see Tomita as the exclusive distributor in Japan for the next 5 years, with the option to extend. The deal shows promising signs for ClearVue to move ahead with commercialising its technology.

Having already gained 495% in the last year, the ClearVue share price is certainly outperforming the S&P/ASX 200 Index (ASX: XJO). For comparison, the benchmark index has delivered 29.4% over the last 12 months.

More reading

• Why Alumina, Delorean, Next Sceince, & Pushpay shares are tumbling lower
• Delorean (ASX:DEL) debuts on ASX, already posting profits
• Genex Power (ASX:GNX) can count Atlassian founders as major backers
• How are New Zealand-based ASX shares performing ahead of a likely recession?
• Genex (ASX:GNX) share price frozen on hydro project fund raising

Motley Fool contributor Mitchell Lawler 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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Of the ASX’s major banks, Westpac Banking Corp (ASX: WBC) has probably been the most disappointing for ASX investors. That assumption is purely based on dividends, seeing as the ASX banking sector is one of the most famous for providing shareholder income. 

In years gone by, most of the ASX’s big four banks offered fully franked dividend yields between 4-7%.

But the coronavirus pandemic turned that paradigm on its head. It’s been more than a year since the onset of the pandemic, and the ASX banks are only now getting back to the levels they were trading at before the pandemic. 

Yet, the same can’t be said of the ASX banks’ dividends. Let me illustrate. At the current pricing, Commonwealth Bank of Australia (ASX: CBA) can claim 2.85%. National Australia Bank Ltd (ASX: NAB) is putting up 2.24%. And Australia and New Zealand Banking Group Ltd (ASX: ANZ) offers a trailing dividend yield of 2.08%. But last and least is Westpac with a paltry 1.23%. All of these banks today have trailing yields well below other ASX blue chips like BHP Group Ltd (ASX: BHP), Telstra Corporation Ltd (ASX: TLS) and Coles Group Ltd (ASX: COL).

Why is Westpac’s offering so woeful? Well, Westpac was the only ASX bank not to even pay an interim dividend last year – the first time it has missed a dividend in decades. But perhaps its darkest before the dawn, as they say.

Are Westpac shares’ dividends coming back?

A report from the Australian Financial Review (AFR) yesterday quotes David Cassidy, head of Australian equity strategy at Wilsons Advisory. Mr Cassidy is bullish on the ASX banking sector. He estimates that there could be as much as a 15% upside on the share prices of the ASX banks as they stand today. A key plank of his thesis is a faster than expected economic recovery that will lead to higher bank earnings. And higher earnings, coupled with APRA’s removal of a payout ratio leash, means higher dividends. 

That could be especially fruitful for Westpac shareholders. Seeing as the bank didn’t pay an interim dividend at year, it does have some cash lying around. That’s despite that nasty $1.3 billion fine it had to pay last year. 

Now Westpac paid out $1.88 in annual dividends per share from 2015 until 2018. 2019’s dividends came in at $1.74 per share. Back in December 2020, Westpac’s only dividend for the year came to 31 cents per share. 

Now it’s impossible to know today what Westpac’s dividends in 2021, 2022 and beyond will look like. But if Mr Cassidy is correct, we could see a significant recovery. Just to illustrate a hypothetical scenario, if Westpac paid out $1.74 in dividends this year, it would have a forward yield of 6.9%. 

Food for thought.

More reading

• Why the NAB (ASX:NAB) share price could push higher from here
• Why the Commonwealth Bank (ASX:CBA) share price could soar 15%
• ANZ (ASX:ANZ) share price dips as bank focuses on AI automation
• Why NAB (ASX:NAB) and other bank shares are on watch today
• Can the CBA (ASX:CBA) share price break above $90?

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited and Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and is edging lower. At the time of writing, the benchmark index is down slightly to 6,968 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:

Alumina Limited (ASX: AWC)

The Alumina share price is down 3% to $1.75. Investors may have been selling the alumina company’s shares due to concerns about falling prices. According to S&P Global, record high freight is impacting alumina prices. This led to S&P Global warning that alumina may be poised for a bumpy ride during the second quarter of 2021.

Delorean Corporation Limited (ASX: DEL)

The Delorean share price is down almost 17% to 35 cents. Investors appear to be taking profit after a very strong performance on Monday following the successful completion of its IPO. Delorean is in the renewable energy industry, selling power to retail and wholesale clients under the CleanTech Energy brand. It has aims to generate electricity and gas from organic waste that would otherwise end up in landfill.

Next Science Ltd (ASX: NXS)

The Next Science share price is down 6.5% to $1.40. The medical device company’s shares have come under pressure following the release of its first quarter update. For the three months ended 31 March, the company reported unaudited revenue of US$2.2 million. While this was almost five times greater than the prior corresponding period, it was down slightly quarter on quarter.

Pushpay Holdings Ltd (ASX: PPH)

The Pushpay share price has fallen 3.5% to $1.78. This is despite there being no news out of the donation and community engagement platform provider’s shares. However, prior to today, the Pushpay share price was up 25% since this time in January. This could have led to some profit taking from investors. Especially given the upcoming release of its full year results.

More reading

• Here’s why the Next Science (ASX:NXS) share price is sinking 6% lower
• 2 highly rated ASX shares to buy now
• Delorean (ASX:DEL) debuts on ASX, already posting profits
• Got cash to invest? Here are 2 ASX shares to buy
• 3 stellar ASX growth shares to buy next week

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nexus Energy Limited and PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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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Is the Fortescue Metals Group Limited (ASX: FMG) share price an attractive stock to own?

The broker Ord Minnett certainly thinks so. It has a price target on the iron ore miner of $29, which suggests potential upside of around 40% over the next 12 months.

Ord Minnett believes that the Chinese steel production will continue to remain strong for longer than expected. There’s also the possibility that non-Chinese steel production could make up for any reduction of demand from China.

The broker feels that there’s a good chance that the Fortescue share price could gain investor attention again as the iron ore price remains strong.

However, there are other brokers which don’t have such a positive outlook for the Fortescue share price. Morgan Stanley has a price target of $17.45, which suggests a possible decline of the Fortescue share price of around 15%.

The broker thinks that the iron ore price could drop in the coming months if China’s demand lessens over the rest of the 2021 year. More iron ore supply could also come online, such as Brazil, which has been impacted by COVID-19.

What about the dividend?

Fortescue is well known for its high dividend yield and FY21 is expected to be a really big dividend.

Different brokers have different expectations for the Fortescue dividend.

It might be unsurprising that Ord Minnett’s positive outlook for the Fortescue share price also translates into big expectations for the dividend. Ord Minnett thinks Fortescue could pay a dividend of $3.52 per share for FY21, translating to a grossed-up dividend yield of 24.5%. In FY20, the broker is expecting the miner to pay a dividend of $3.10 per share – this is a grossed-up dividend yield of 22%.

Morgan Stanley is expecting Fortescue to pay a dividend of $2.89 per share in FY21 – that’s a grossed-up dividend yield of 20%. In FY22, the broker is expecting a dividend of $1.56 per share, which is a grossed-up dividend yield of 10.9%.

Fortescue recently changed its capital allocation strategy, whilst retaining its commitment to shareholder returns. It’s targeting the top end of its dividend policy to payout 50% to 80% of full year net profit after tax (NPAT). With 20% of net profit available to fund future growth, Fortescue intends to allocate 10% to fund renewable energy growth through Fortescue Future Industries (FFI) and 10% to fund other resource growth opportunities.

What’s Fortescue Future Industries?

FFI has been created to identify renewable energy and green hydrogen projects both in Australia and globally.

The business intends to “bring its demonstrated capability of adopting innovation and technology to ensure future green energy projects will position Fortescue at the forefront of this emerging industry.”

Fortescue also described the renewable energy and green hydrogen projects as diversification opportunities for the business.

Fortescue hopes that its green energy division can become a substantial size of the business over time.

More reading

• Why are the big ASX mining share prices slipping today?
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• 2 high yield ASX dividend shares rated as buys
• The new race between US and China is good news for these ASX shares
• 2 great ASX 200 blue chip shares for dividends

Motley Fool contributor Tristan Harrison owns shares of Fortescue Metals Group Limited. 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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It’s our best asset. But it can also be our Achilles Heel.

‘It’ of course, is our brain. That wonderful, inexplicable grey mass that separates us from the rest of the animal kingdom.

And yet…

A theme I keep returning to, because it’s so incredibly important in investing as in life, is the limitations of our evolved brains.

Don’t get me wrong, they are wonderful, awesome machines. They are supercomputers on speed. Our ability to observe, synthesise, extrapolate, contextualise, react, plan, review and ponder, among much, much else, is just phenomenal.

But they come with limitations.

Perhaps chief among them, because of the impact it has on us, are the shortcuts our thinking subconsciously takes. And, related, the difficult task of really ‘thinking about our thinking’. (No, this isn’t a philosophy lecture. I’m getting to the life and investing bits, but the set-up is important.)

Behavioural psychologists know — and it’s instinctively true when you think about it — that our brains quickly hardwire our habits, to free up processing space.

Imagine if, first thing in the morning, you woke up, and had to think about each inhalation and exhalation. Then you had to think about the very act of sitting up — individually and consciously activating each muscle, in turn, each time you used it. But don’t forget the breathing thing while you do it.

Then there are the decisions of whether and how to get to the kitchen, making toast, coffee, and the rest. Without innate behaviours, patterns, and subconscious thoughts, you’d have to methodically do everything. Just getting ready for work would take all day, and leave us mentally exhausted.

So, our brains have developed a way to do all that, subconsciously. Thank god.

Now to the ‘thinking about thinking’ part.

See, none of the above is a surprise, or even controversial. And we all know that much of our day is governed by those subconscious, often learned, behaviours that leave our brain free to think about the new, the big and the challenging.

However, somehow — probably due to ego — many of us are not prepared to accept that those subconscious thoughts and habits actually influence our very thinking.

But, of course, they do.

My experiences, tendencies, emotions and preferences are part of who I am. I can’t excise those from my instinctive decision-making process, and neither can you.

It should not be a surprise that many who have overcome the odds believe that people should similarly pull themselves up by their bootstraps.

Or that those who’ve struggled their whole lives think the odds are stacked against them. (And, right now, you’re already judging those last two statements, based on your preconceptions, aren’t you?)

It’s why, to use a lightning-rod example, the ‘trickle down’ theory of economics has been so pervasive for four decades: people want to believe it because it’s how they think the world should work.

But, in reality, it doesn’t.

I use that example because I’ve been on that intellectual journey. I wanted to believe that ‘growing the pie’ was the answer. I did believe it. For many years. I could rationalise it, explain it and justify it. And, deep down, it just made sense that it should be true.

But, of course, it isn’t. And here’s where you have a choice to make: are you going to accept the reality, or stick your head in the sand and pretend you don’t know better?

Sound harsh?

It’s not meant to be — but it is meant to be honest. And I’m not just having a go at the ‘trickle down’ mob. It’s true right across the ideological spectrum.

An example from the other side of politics: you only have to ask Labor supporters why their party lost the last Federal election.

The answer tends to be ‘They should have done more of the things I like’.

Which may be true, but that misses the point that they’re already the True Believers (to coin a phrase).  Isn’t it just possible that the realpolitik of elections means that convincing one party’s voters to change sides requires something different to what would delight the rusted-on members?

In both cases, that which seems obvious to us, based on our experience and worldview, isn’t necessarily right.

And that takes us to the investing bit.

Are you a ‘value’ investor?

A ‘growth’ investor?

Do you think things ‘should’ be a certain way?

Do you own a company that ‘should’ be winning, but isn’t?

Are you investing because of how ‘you’ think or act, rather than how the whole market does?

Those terms are all in inverted commas, because they indicate pre-determined or self-referenced worldviews. They are things we have already decided are true/best/real.

And that’s not even unreasonable.

As I said, our brains need to work out shortcuts to help us live our lives. We can’t, every morning, wake up and look at every one of the almost 2,000 companies on the ASX from scratch. So we start by applying some rules of thumb to cut down on the mental load.

The trick, of course, is remaining open to changing our minds.

As John Maynard Keynes said, “When the facts change, I change my mind. What do you do, sir?”

As an investor, though, it’s hard to balance having enough conviction to invest in a company with the preparedness to change your mind. How can you do both at once, without falling victim to cognitive dissonance?

The answer is a phrase I’ve adopted: “strong opinions, loosely held”. That is, analyse the information and come to a firm view. And act on it.

But know what you expect. Be rigorous.

Be ready to either change your mind, and/or recognise when you’re wrong.

And don’t fall in love with either the companies you own, or the thesis you formed. If they’re wrong, the faster you acknowledge that, the less money you stand to lose, and the more likely you are to redeploy that cash into better opportunities.

But remember to choose an objective, evidence-based yardstick. Don’t let the market tell you how to invest.

Or those on social media.

Or even how you wish the world was.

More reading

• Here’s why Lion Energy (ASX:LIO) shares rocketed 132% this morning
• The DroneShield (ASX:DRO) share price is flying 6% today. Here’s why
• Here’s why Microsoft just spent $19.7 billion to acquire nuance communications
• What’s driving the Bitcoin price higher?
• Here’s why the Next Science (ASX:NXS) share price is sinking 6% lower

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If one was to look at some of the best performing ASX shares today, no doubt the Lion Energy Ltd. (ASX: LIO) share price would have caught the eye. Lion Energy shares are up an extraordinary 132.14% today to 6.5 cents per share. Yes, Lion opened at 3 cents a share this morning. That’s pretty much the price this company has been bumping along at for the past few months. But shortly after open, a rocket was lit under Lion shares and they soared as high as 8.5 cents. That was a gain of more than 183% at one point. Even after the company settled at 6.5 cents a share, it’s still an eye-popping 132% gain. Just for some context, that gain would have turned $10,000 worth of Lion Energy shares yesterday into a $23,210 position in 24 hours.

Lion is now in a trading halt, frozen at 6.5 cents a share. But let’s take a look at what sparked this incredible share price appreciation today.

Lion Energy share price rockets on oil find

Today’s dramatic share price appreciation is almost certainly the result of Lion Energy’s announcement to the markets this morning before open. In this announcement, Lion informed investors that one of its ventures – the Oseil Oil Field – houses significantly higher oil reserves than was previously anticipated. According to the company, Oseil’s proven and probable reserves are now estimated at 4.37 million barrels of oil equivalent (MMbbl). Lion Energy has a 2.5% interest in Oseil. That means the company now estimates that its share of these oil reserves now stands at 0.109 MMbbl. That’s a 203% increase on what its precious estimates were. 

Further, Lion Energy has also upgraded its estimates for Oseil’s ‘undeveloped’ reserves. It was previously estimated that Oseil held 0.281 MMbbl in unproven reserves. That has been upgraded to 1.796 MMbbl.

With these massive upgrades in this oil field’s estimated reserves, it’s no surprise investors reacted so bullishly this morning.

What about the share trading halt?

As mentioned earlier, Lion Energy shares are now (as of 11:47 am) in a trading halt after their stellar performance this morning. At 12:53 pm, the company released a further release stating that the company has requested a trading halt, pending the release of an announcement. Lion tells us that it will remain halted until 15 April at the latest. That’s all we know for now. But Lion Energy shareholders will no doubt be pretty pleased with what has happened today. At the current share price, Lion Energy has a market capitalisation of $12.58 million.

More reading

• The DroneShield (ASX:DRO) share price is flying 6% today. Here’s why
• Here’s why Microsoft just spent $19.7 billion to acquire nuance communications
• What’s driving the Bitcoin price higher?
• Here’s why the Next Science (ASX:NXS) share price is sinking 6% lower
• Why the Starpharma (ASX:SPL) share price is up 27% in 2021

Motley Fool contributor Sebastian Bowen 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 DroneShield Ltd (ASX: DRO) share price is taking off today after the company shared the news it has received a $2.3 million payment. The payment was the remaining balance on an order from the Middle Eastern Ministry of Defence.

Today, the DroneShield share price reached an intraday high of 19.5 cents, up 14.7%. It has since retreated to 18 cents at the time of writing, which is still 5.88% higher than yesterday’s closing price.

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

$2.3 million payment

In 2018, DroneShield announced it had received an order from the Middle Eastern Ministry of Defence for 70 DroneGun tactical jammer products.

At the time, the company stated the total cost of the order was $3.2 million. Shipping of the order was completed in March 2020.

DroneShield expects the Middle Eastern Ministry of Defence to be a repeat customer, with the next order anticipated to be worth between $60 million and $70 million.

In 2018, DroneShield stated the order from the ministry was the largest known order of tactical drone mitigation equipment ever made. It was also DroneShield’s first multimillion-dollar order.

Today’s news boosting the DroneShield share price follows a busy few weeks for the company. It has recently won multiple contracts globally, including a $1.1 million repeat order contract with a Five Eyes agency, an initial order from a high profile US law enforcement agency, and multiple DroneSentry-XTM orders.

Management commentary

DroneShield CEO Oleg Vornik commented on the final payment for the order, saying:

In addition to the material value of this cash receipt, it demonstrates several critical points. Firstly, it shows that DroneShield is able to successfully navigate doing business in one of the most challenging yet most lucrative regions globally for Western companies, in terms of successful management of stakeholders and achieving outcomes.

Secondly, this is the completion of a repeat purchase by this end user, with the next contract expected to be a much larger amount…

Thirdly, this underscores the global leadership positioning of DroneShield products, and our best-in-breed performance, as confirmed by this customer who faces daily UAS threats on their home soil, like no other customer globally.

DroneShield share price snapshot

The DroneShield share price has been having a productive year on the ASX, with today’s news just the latest boost.

Currently, it is up 5.88% year to date, but an impressive 63.6% over the last 12 months.

DroneShield has a market capitalisation of around $66 million, with approximately 389 million shares outstanding.

More reading

• The DroneShield (ASX:DRO) share price will be on watch this morning. Here’s why
• DroneShield (ASX:DRO) share price rises on new customer order
• Droneshield (ASX:DRO) share price moving on multiple product orders
• Here’s why the DroneShield (ASX:DRO) share price is flying 8%

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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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.

Microsoft (NASDAQ: MSFT) confirmed rumors today that it would acquire Nuance Communications (NASDAQ: NUAN) in an all-cash transaction valued at $19.7 billion, including assumption of the company’s debt. The tech giant sees the deal as a way to boost its own ambitions in the realm of artificial intelligence (AI). Nuance is a pioneer in conversational AI, or technology that can understand and respond to voice commands. 

Nuance made its fortunes by developing software that’s capable of understanding, responding to, and transcribing human speech. The tech is used by doctors’ offices to keep patients’ medical records accurate and up to date. The company’s enterprise segment uses natural language understanding to provide voice mail transcription services, while also powering AI chatbots used in customer service.

In recent years, Microsoft has been working to expand its industry-specific cloud offerings, and the acquisition of Nuance will boost the Microsoft Cloud for Healthcare, which was introduced late last year. Nuance has several industry-leading software-as-a-service offerings including Dragon Ambient eXperience, Dragon Medical One, and PowerScribe One for radiology reporting, which are all built on Microsoft Azure.

Microsoft noted that Nuance products and services are currently used by more than 55% of physicians and 75% of radiologists in the U.S., as well as 77% of hospitals. This helped drive Nuance’s healthcare cloud revenue up 37% year over year in 2020.

In a post on Twitter (NYSE: TWTR) Monday, Microsoft CEO Satya Nadella said: “AI is technology’s most important priority, and healthcare is its most urgent application. Together with [Nuance], we will put advanced AI solutions into the hands of professionals to drive better decision-making and create more meaningful connections.” 

The purchase price represents a 23% premium to Nuance’s closing price on Friday, and the deal is expected to close later this year. The acquisition will double Microsoft’s total addressable market in healthcare to roughly $500 billion. 

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

More reading

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• Zoono (ASX:ZNO) share price soars 40% on Microsoft deal
• Here are the US shares ASX investors have been buying
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Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Microsoft and Twitter. 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.

Danny Vena owns shares of Microsoft. The Motley Fool owns shares of and recommends Microsoft and Twitter. The Motley Fool has a disclosure policy.

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The Bitcoin (CRYPTO: BTC) price is up 1.3% over the past 24 hours. One Bitcoin is currently worth US$60,634 (AU$79,782).

According to data from CoinDesk, US$56.5 billion worth Bitcoin have changed virtual hands since this time yesterday.

Bitcoin has rebounded more than 18% since it traded below US$51,280 on 26 March.

What’s driving Bitcoin’s new price surge?

Simon Peters, market and crypto analyst at online trading and brokerage company eToro, says that Bitcoin’s renewed price strength is due to a range of factors. These include “new demand from institutional investors and wealth managers offering crypto asset exposure to clients”.

Peters adds that his comes as “a decline in on-exchange reserves is reducing supply as more investors move the currency to their own wallets”.

As far as institutional interest goes, State Street Corp (NYSE:STT), among the world’s biggest asset managers, intends to join the crypto market.

According to Peters:

State Street has forged a deal to lend its trading technology to start-up Pure Digital, which aims to be the main institutional platform for bitcoin. The new trading venue will enable cash crypto asset trading for investors via their existing banking relationships, with Currenex, State Street’s platform providing the underlying technology. 

The new crypto trading venue is scheduled to go live in mid-2021.

Have you calculated your rent in Bitcoin?

I don’t know about you, but my landlords of yore were quite insistent to be paid in good old dollars. Or euros, yen, rupiah, and guilders. (I’ve moved around a bit!)

But a major global landlord is breaking the mould and declaring he’s more than happy to take Bitcoin in payment for rent.

As eToro’s Peters writes:

Rick Caruso’s retail estate company, which owns the likes of outdoor malls The Grove and The Americana, alongside luxury apartments, will now accept rent in the form of bitcoin.

Alongside investing a portion of its corporate treasury in bitcoin, Caruso has entered into a partnership with Gemini, the crypto exchange and custodian led by CEO Tyler Winklevoss.

Taking a bullish outlook, Caruso commented on the move: “It’s not about the next year or five years. We’re looking forward to the next decade.”

Ten years ago you could have bought 1 Bitcoin for US$1.

If the next decade proves to be anything like the last for the Bitcoin price gains, Caruso’s current rental payments would be worth some 60,000 times more than the equivalent rent paid in fiat currency.

A bullish outlook, indeed.

More reading

• Will this Nasdaq IPO send the Bitcoin price back to record highs?
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• With the Bitcoin price up overnight your crypto Tesla just got cheaper
• Bitcoin’s price is down 8% from February’s highs. Is it time to buy the dip?
• How Westpac (ASX:WBC) is set to cash in on Bitcoin

Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin. 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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