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The Genex Power Ltd (ASX: GNX) share price is rising today following the release of the company’s Kidston Hydro Project update. During late afternoon trade, the Genex share price is up 2.04% to 25 cents.

Let’s take a look at what the power generation and renewable energy storage company reported.

What did Genex announce?

The Genex share price is on the rise today after the company reported a positive update regarding its flagship 250MW Kidston Pumped Storage Hydro Project.

In its release, Genex advised that development and financing activities associated with the project are well advanced. This follows the final investment decision (FID) delivered by the board in late December 2020.

The company stated that final due diligence is nearing completion, with construction, financing, and operations documentation mostly in agreed form.

However, Genex noted that it has revised its schedule and expects that contractual close will be accomplished in late March. In addition, financial close and the commencement of construction at the site is expected to follow early in the second quarter of 2021.

To accommodate the altered timetable, Genex secured an extension of its energy storage services agreement with EnergyAustralia.

In further news impacting the Genex share price, the company revealed it is currently in discussions with Japan’s Electric Power Development Co. Ltd (J-POWER) about an agreed postponement of its share subscription agreement and technical services agreement.

Words from the CEO

Genex CEO James Harding commented:

We have now reached a critical point where all due diligence has been largely completed and our construction, financing and operational documentation is in substantially agreed form. As such, we are pleased that we have today secured the necessary extension from EnergyAustralia to align with our revised timeline for Contractual Close this quarter, and commencement of construction early next quarter.

We are thankful for the ongoing support of EnergyAustralia, and also our broader stakeholder group including the Northern Australia Infrastructure Facility, Queensland State Government and the Australian Renewable Energy Agency, for their continued support as we work toward financial close.

About the Genex share price

The Genex share price has gained 25% since this time last year. The company’s shares dropped to a low of 8.4 cents in March, and have surged more than 170% since then. 

Based on the current Genex share price, the company has a market capitalisation of around $130 million.

More reading

• Why the Genex (ASX:GNX) share price is up 5% 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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The Inghams Group Ltd (ASX: ING) share price is currently up 3.45% today, trading at $3.74 at the time of writing.

The jump follows release of the company’s half-year results for the period ended 26 December 2020 (1H FY21).

Let’s look at the update from the chicken and turkey products provider. 

What did Inghams report?

In today’s 1H FY21 earnings release, Inghams reported a statutory net profit after tax (NPAT) of $35.3 million, up 34.7% compared to the prior corresponding period (pcp). The company’s underlying NPAT was $37.5 million, up 28.4% over the pcp.

Cash flow from operations came in at $181.9 million during the half.

Inghams posted a group core poultry volume growth of 4% on the pcp. The company advised that this reflects a strengthened demand across most channels and the return of overall trading volumes to pre COVID-19 levels.

The board declared an interim dividend of 7.5 cents per share, up 2.7% compared to the pcp. The interim dividend represents a payout ratio of 74.3% of Inghams’ underlying NPAT.

Commenting on the 1H FY21 performance, CEO and Managing Director Jim Leighton said: 

Today’s results are a testament to the great work of our team and their execution of our five-year strategic plan and the resilience in demand for poultry.

These results have been delivered despite the continued impact of COVID-19, ongoing high realised feed prices and the partial closure of Australia’s poultry export channels due to industry Biosecurity issues in Victoria. Our strategy is driving performance and delivering improved returns.

Outlook for Inghams

The company advised it will continue to progress its five-year strategy going forward, however, ongoing volatility remains due to COVID-19 and the potential re-opening of some Australian export markets.

The net impact of lower feed prices is expected to be modest in the second half, and the company also advised it expects the second half of FY21 to experience normal seasonal influences.

Snapshot of the Inghams share price

Ingham has a current market capitalisation of $1.3 billion with 371.5 million shares outstanding.

Over the past 12 months, the Inghams share price has remained relatively flat, gaining a modest 4% on this time last year.

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Motley Fool contributor Gretchen Kennedy 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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Pursuit Minerals Ltd (ASX: PUR) shares are off to the races today, up more than 35% to 5 cents in afternoon trading. Earlier during intraday trade, the Pursuit Minerals share price rallied by as much as 70% to 6.4 cents before retreating. 

The soaring share price comes following the company’s announcement of promising airborne electromagnet (AEM) data from its Calingiri East exploration licence on the Warrior PGE-Ni-Cu project in Western Australia.

(For the uninitiated, Ni stands for nickel, Cu is copper, while PGE stands for platinum group elements. Those are comprised of palladium (Pd), iridium (Ir), osmium (Os), rhodium (Rh) and ruthenium (Ru).)

What did the company report?

The Pursuite Minerals share price is surging today after the company reported its preliminary AEM survey had detected five strong electromagnetic (EM) conductors. The company believes these have the potential to be due to PGE-Ni-Cu sulphide mineralisation.

These stronger EM conductors, Pursuit Minerals states, are associated with “magnetic anomalies interpreted to be due to mafic or ultramafic intrusive rocks”. These same anomalies are known to host the PGE-Ni-Cu mineralisation at the Chalice Mining Ltd (ASX: CHN) Julimar Project.

Due to the highly prospective nature of the five identified anomalies, the company has significantly extended the survey block. It expects to complete its overall Warrior AEM survey before the end of March. The final data is expected by the middle of April.

Commenting on the results, Pursuit CEO Mark Freeman said:

The PGE-Ni-Cu targets which have been recognised from the preliminary data from the Calingiri East AEM survey block, demonstrate how the application of AEM surveys to PGE-Ni-Cu exploration can rapidly advance a project and generate highly prospective targets for drill testing. To have defined focussed quality targets from the preliminary data is very encouraging and we look forward to identifying further targets from the remainder of the Warrior AEM survey and then drill testing the highest priority targets as soon as practicable.

Once the company has all the data in hand, it intends to start drill testing the high priority in either the second or third quarter of this year.

Pursuit Minerals share price snapshot

Patient shareholders in the junior miner have enjoyed a highly profitable 12 months and a great start to 2021.

Over the past year, the Pursuit Minerals share price is up 400%. That compares to a 3% loss on the All Ordinaries Index (ASX: XAO). With today’s intraday moves taken into account, Pursuit Minerals shares are up 150% year to date.

More reading

• Aquis Entertainment (ASX:AQS) share price boosts 365% in second day of triple-digit gains
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• The PWR (ASX:PWH) share price is on fire today, up 6%. Here’s why

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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The Aquis Entertainment Ltd (ASX: AQS) share price has hitched a ride on a rocket today. The resort and gaming company that owns Casino Canberra has experienced a startling 365% share price increase.

Where’s the news?

Long story short, there is none, which is rather peculiar. The company’s shares experienced the same situation yesterday, with abnormally high volumes and a stark price increase. Yesterday’s rise of 216% prompted the ASX to issue the colloquial speeding ticket.

Aquis’ query response provided no additional insight, making this whole situation a bit of a mystery. The company inferred it was as clueless about the reason for the price rise as the rest of us.

With the stratospheric price rise today, it’s safe to say the ASX will be even more intrigued. To put the movement into context, the Aquis share price has nearly increased by 15 times, in the space of 3 days.

Not to mention the off-the-charts volume being experienced by the company. Today’s volume is currently around 12.5 million shares traded. The monthly average for this micro-cap share is 86,000 – mindboggling!

Keeping an eye on the Aquis share price

The ASX will be following along closely after such an abnormal increase in interest in what is a fairly inconspicuous share.

There are many possibilities for such a scenario: potentially a fund is building a position, inside buying (which will need to be disclosed), an upcoming announcement, etc.

For now, we will wait with keen interest on further developments.

At the time of writing, the Aquis share price is swapping hands for 51 cents apiece. 

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• The PWR (ASX:PWH) share price is on fire today, up 6%. Here’s why
• MyState (ASX:MYS) share price falls despite ‘outstanding first half’

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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The Woodside Petroleum Limited (ASX: WPL) share price is sinking today despite the company announcing a supply agreement for liquefied natural gas (LNG).

At the time of writing, the Woodside share price is down 5.45% to $23.96.

Let’s take a closer look at what Woodside announced.

LNG supply agreement

Woodside advised it has entered a sale and purchase agreement with RWE Supply & Trading GmbH (RWE). The contract will tap into Woodside’s global energy portfolio to deliver roughly 0.84 tonnes per annum of LNG.

This deal extends the working relationship between both parties, developed through mid-term and spot business deals in Asia-Pacific and the Atlantic basin.

RWE will use the supply of LNG to service the strong demand from its customer base.

The contract will kick off in 2025 and last for a period of 7 years. Woodside said the agreement was not subject to a final investment decision (FID) on any of its projects.

Today’s release also noted that Woodside and RWE signed a memorandum of understanding (MOU) in October last year. The document is based on pursuing mutually beneficial hydrogen-related opportunities.

Hydrogen is expected to become increasingly adopted in future as it is a carbon-neutral fuel. Currently, RWE is advancing the development of about 30 hydrogen projects, mostly situated in Europe.

What did management say?

Commenting on the deal, Woodside executive vice president Meg O’Neill said:

Customers are increasingly seeking to secure new energy supplies in a timeframe which supports the development of our Scarborough offshore gas resource and the expansion of the Pluto facility with the addition of a second LNG production train.

This agreement with RWE is another demonstration of the momentum we are gathering ahead of our targeted FID on Scarborough and Pluto Train 2 in the second half of this year. The SPA also provides the opportunity for Woodside and RWE to explore the potential for carbon-neutral LNG production and trading.

RWE chief commercial officer Andree Stracke added:

RWE is delighted to enter into a longer-term LNG supply agreement with Woodside which further reinforces the strong relationship we have developed together over the last years. The volumes will continue to enable us to deliver effective LNG solutions to our customers and will provide a platform to further advance our existing business in Asia.

Woodside share price performance

The Woodside share price is down 27% over the last 12 months but up almost 7% year-to-date. The company’s shares dived to $14.93 when COVID-19 put the global economy at a standstill. However, its shares have gradually rebounded, especially of late.

Based on the current Woodside share price, the company has a market capitalisation of roughly $23.3 billion.

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Motley Fool contributor Aaron Teboneras owns shares of Woodside Petroleum Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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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.

Shares of AMC Entertainment Holdings (NYSE: AMC) moved higher on Thursday morning on chatter that Amazon.com, Inc (NASDAQ: AMZN) could emerge as a potential suitor. Right now, it’s just little more than collective wishful thinking from the AMC bull camp. 

There are no credible media outlets with sources claiming that talks between the two parties are happening. However, there were reports last year that Amazon and AMC were in preliminary negotiations before talks broke down. There were also more substantiated reports of Amazon in the running to acquire the smaller Landmark Theatres in 2018, but that also faded to black. 

There are some very good reasons why this won’t happen. There are some very good reasons why this might. Let’s break down both arguments. 

Amazon shouldn’t buy AMC

Let’s get the bearish argument out of the way first. We can start with the price. AMC had an enterprise value of $10.6 billion in May of last year when the last story was making the rounds. AMC’s fundamentals have only gotten worse, but its enterprise value has ballooned up to $13 billion – and likely closer to $15 billion by the time all of the latest stock sales and debt moves are on the books. If the price was an issue for Amazon before, it would make even less sense to pursue a transaction now.

AMC has lost leverage with Hollywood over the past year. Movie studios are dictating the terms of release windows, and folks haven’t been flocking back to the local multiplex since it reopened late last summer. 

There’s also an argument to be made that Amazon doesn’t need AMC if it wants some skin in this game. It can have AMC rival Regal and its presently shuttered multiplexes for what is likely pennies on the AMC dollar. Amazon considering the purchase of the 53-unit Landmark three years ago suggests that it’s not just gunning for the largest player here. 

There’s also the risk here that Amazon stock takes a hit on an AMC purchase. The market was also confused by the $13.7 billion Whole Foods purchase, but at least that was a top dog in a growing niche. Whole Foods is aspirational. AMC is, well, AMC. 

Amazon should buy AMC

As crazy as it sounds, there are also some reasons why the pairing of Amazon and AMC makes sense. In supporting Amazon’s pursuit of Landmark three years ago, I came up with five reasons why Amazon can win if it was successful in its purchase: 

• Street cred in Hollywood
• Prime Video retention and attraction
• Beating MoviePass and AMC in the subscription game
• A new take on the concessions stand
• Research

There’s still some mining to be done in all five of those areas. Owning the country’s largest multiplex operator would give Amazon a leg up on other streaming platforms when it comes to distribution. Studios would move Amazon higher up on the list of potential partners. If anyone could crack the subscription model beyond AMC Stubs A-List and the now-defunct MoviePass platform, it has to be Amazon. 

When it comes to the concessions counter, it’s hard to think of anyone better than Amazon to disrupt pricing on overpriced snacks but – more importantly – to also flesh out its kiosks with relevant merchandise and likely an upgrade in automated service technology. The final point about research may seem to matter less these days, with audiences unlikely to return to peak levels, but Amazon would be able to use the data it can collect from its moviegoers far more effectively. 

Amazon would also be able to improve in-theatre marketing. It also can reinvent programming with its breadth of multimedia connections. AMC in Amazon’s hands would be misunderstood by Wall Street at first, but you don’t bet against Amazon when it gets its hands on a new toy – or in this case, a 100-year-old toy that just needs to be wound in a new way. 

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

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis – even one of our own – helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. 

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Rick Munarriz 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 Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. 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 Afterpay Ltd (ASX: APT) share price is on course to end the week on a very positive note.

Earlier today, the payments company’s shares were up as much as 6% to $159.28. That left the Afterpay share price trading within a whisker of its record high of $160.05.

However, if one leading broker is correct, it may not be long until the Afterpay share price smashes through its record high and ascends even higher.

Why is the Afterpay share price racing higher?

Investors have been fighting to get hold of Afterpay shares on Friday after it was the subject of yet another bullish broker note.

According to a note out Morgan Stanley, its analysts have retained their overweight rating and lifted their price target on its shares by 25% to $170.10.

Why is Morgan Stanley bullish on Afterpay?

The broker made the move after looking through recent results and updates from buy now pay later (BNPL) providers.

It notes that Afterpay and other BNPL providers are continuing to grow at rapid rates despite the increase in competition from the likes of PayPal and Shopify.

One thing in particular that attracts Morgan Stanley to Afterpay is its industry-leading repeat purchases metric. It feels this is a big positive and should support strong revenue growth.

In addition to this, it notes that many of its competitors have been increasing their offerings with other product lines. Whereas Afterpay is only in the early stages of doing so. If it succeeds with this, it could bolster its growth further.

Does anyone else think the Afterpay share price can go higher?

Analysts at Bell Potter have a similar view to those at Morgan Stanley.

As I mentioned here recently, it suspects that the upcoming launch of transaction accounts in collaboration with Westpac Banking Corp (ASX: WBC) could be a precursor to the company offering other products. This includes home loans, investment products, and personal loans.

The broker believes that the Afterpay-Westpac collaboration should be worrying Commonwealth Bank of Australia (ASX: CBA).

It explained: “We see this as a step change in APT’s product offering, and as a deliberate strategy for WBC to break CBA’s stranglehold on the millennial banking market. We believe CBA should be worried, and perhaps is, which is seen with comments from their CEO Matt Comyn at the Banking Summit in November last year, who noted Afterpay as a potential threat to the banking sector over time.”

Bell Potter is also tipping the Afterpay share price to climb beyond its record high. It currently has a buy rating and $168.00 price target on its shares.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of 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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The PWR Holdings Ltd (ASX: PWH) share price is fired up today as the market reacts to the automotive cooling solutions’ half-year results. By the looks of it, the company has been firing on all cylinders during the period.

At the time of writing, the PWR share price is trading up 6.43% at $4.80.

It’s hard to stay cool with these firey results

PWR smashed last year’s revenue and profit figures during the period. Management noted this was due to deferred activities from FY20 and growth in emerging technologies and OEM products.

Revenue for the company increased by 25% to $37.2 million for the half. Earnings before interest, tax, depreciation, and amortisation (EBITDA) also increased by 60%. PWR improved EBITDA through efficiency improvements, economies of scale recognised by increased volumes, and JobKeeper payments.

Subsequently, the combination of increased revenue and improved margins delivered a 90% increase in net profit. This significant surge in profit equated to $6.58 million net profit after tax for the company.

Management has elected to increase the interim dividend to 2.8 cents per share, up 47% from 1.9 cents the prior year.

Commentary and outlook

Addressing the results, PWR managing director Kees Weel said:

We are now very well placed for our expected growth which has only just started and a 90% increase in NPAT illustrates our capability and potential. We remain focused on our strategy to grow and diversify the business into new channels, and the progress made to date in this regard is very encouraging.

PWR’s revenue remains heavily geared towards sales in the motorsport category, at 49% of total sales. However, the company noted a trend towards expansion in the emerging technologies and OEM sale streams. This marks a key driver in improving margins for the business.

Emerging technologies in focus for PWR include defence and aerospace applications, battery and hybrid system cooling, additive manufacturing applications, computational fluid dynamics (CFD) modelling services, and super alloy brazing capabilities.

PWR share price in the rearview mirror

The PWR share price has experienced a rough 12 months. Shares tumbled during the March 2020 crash from $4.88 down to a low of $2.50. However, the company kept its cool and continued to deliver for its customers. As a result, the share price has steadily climbed back to its current price tag. 

Over the past year, the PWR share price has appreciated by 0.2%. This still reflects an outperformance of the S&P/ASX 200 Index‘s (ASX: XJO) 5% loss.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has recommended PWR HLDING 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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MyState Limited (ASX: MYS) shares are falling lower in today’s session after the company released its report for the first half of FY21. At the time of writing, the MyState share price has slumped 1.93% to $5.07.

What’s impacting the MyState share price?

Investors are driving down the MyState share price after the fintech released its latest half-year results this morning.

A key highlight from the company’s report was an 8.4% increase in revenue of $63.3 million. In addition, MyState saw net profit after tax (NPAT) soar 12.6% to $17.0 million for the period.

The company also recorded an 18.8% growth in core earnings of $26.4 million. It noted that the result was driven by above-system lending growth and improvements in the cost of funding.

MyState also achieved a peer-leading ROE of 9.94%, up 65 basis points from the prior corresponding period.

Despite reporting an “outstanding first half result” the company determined to cut its interim dividend, which may explain the MyState share price languishing today. Management reinforced that the interim dividend was reduced in order to achieve “the right balance between pursuing significant organic growth opportunities in the business and rewarding shareholders with dividends”.

As such, MyState declared an interim dividend of 12.5 cents per share after not paying a final dividend in 2020.

Company snapshot

MyState is a financial services group with its headquarters in Tasmania. It offers personal and commercial lending, mortgage lending, savings and investment products, wealth management and insurance.

According to the company, it is well-positioned for accelerated growth. MyState cited various industry and regulatory dynamics that could fuel growth. These include a stronger rebound in the Australian economy and renewed consumer and business confidence.

Managing director and chief executive Melos Sulicich also highlighted the fact that the digital transformation of MyState’s services will help grow its customer base. 

He stated “…we will have an ongoing focus on digitalisation of operations, adding to our capability, and generating momentum to driving further activity and investment in attracting new customers.”

Based on the current MyState share price, the company commands a market capitalisation of around $468 million.

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Motley Fool contributor Nikhil Gangaram 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 Treasury Wine Estates Ltd (ASX: TWE) share price is currently down around 7% on news of a resignation of a key member of the management team, if it isn’t being influenced profit-taking by some investors. 

According to reporting by the Australian Financial Review, the managing director of the Treasury Wine Europe, Middle East and Africa (EMEA) business has resigned and will be leaving in the next few months.

What’s going on with Treasury Wine?

The newspaper said that the cause of the resignation was the restructure that Treasury Wine Estates business is about to go through.

Michelle Brampton, the managing director in question, wasn’t chosen for any of the main three roles despite being in the business for around two decades and having held various important roles across the company.

What did TWE say about the restructure?

A couple of days ago, the business announced a new divisional operating model, aimed at maximising the benefits of a separate focus across its brand portfolios, rather than regions. From FY22, Treasury Wine Estates will operate under three new internal divisions being Penfolds, Treasury premium brands and Treasury Americas.

Treasury Wine Estates said that each division will have unique strategic, geographic and consumer characteristics with distinct growth opportunities. These three businesses will be serviced by centralised businesses, supply and corporate functions. Management said that the establishment of the new operating model will maximise the benefits of the separate focus across the company’s brand portfolios.

The company said it has progressed on key initiatives to deliver a future state premium wine business in the US, including the planned exit of other non-priority brands, operating assets and leases as it continues to prioritise the growth of its focus premium brand portfolio to drive future performance in the region.

TWE’s outlook for the future

After a decline of 24% of underlying profit to $175.3 million in the first half of FY21, Treasury Wine Estates said that it’s planning for the continuation of conditions consistent with recent trading in the Americas, Australia and New Zealand, Europe, the Middle East, Africa and Asian markets outside of China.

In China, TWE expects that demand for its portfolio will remain extremely limited while the provisional (or similar) Chinese measures remain in place and that’s why the company is expecting minimal profit from China over the rest of the year.

However, the company is becoming increasingly confident around its plans for reallocation of product from China to other markets as it continues to engage with its customer and consumer base, with modest benefits to commence towards the end of FY21.

TWE is expecting that underlying earnings before interest and tax (EBIT) will be below what was generated in the first half of FY21.

More reading

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates 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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