Tag: Motley Fool

  • Why the Regional Express (ASX:REX) share price is flying higher today

    pilot, flying, flight, aircraft, plane, webjet, flight centre

    The Regional Express Holdings Ltd (ASX: REX) share price is trading close to its 52-week high after an overseas interest gained investment approval today. After an early surge, the Regional Express share price is trading up 1.32%, at $2.31.

    This is the latest piece of good news for the regional airline that has seen its share price soar in recent weeks. Brushing aside COVID-19 impacts that largely decimated the travel sector this year, the Regional Express share price is up an astonishing 97% since the start of the year.

    What happened today?

    This morning, leading Asian investment firm PAG confirmed it had been granted Foreign Investment Review Board approval to acquire an interest in Regional Express.

    The approval was sought in relation to a subscription agreement entered into with PAG on 19 November. Shares in Regional Express are up 49% since news of that agreement transpired.

    Under the deal, Rex will issue up to $150 million convertible notes to PAG to fund its domestic operations. The notes can be converted to ordinary shares at $1.50, so it’s worth noting that PAG could potentially hold up to 47% of Rex’s shares if fully converted.

    Despite today’s good news, other regulatory approvals are still needed. The company is awaiting its high capacity air operator’s certificate (HCAOC), and the outcome will likely be known by 18 December. The transaction is also subject to shareholder approval at Regional Express’s next AGM.

    What now for the Regional Express share price?

    The company is Australia’s largest independent regional and domestic airline. In exciting news for shareholders, Regional Express recently announced it will be offering flights from Melbourne to Sydney from $79. These flights will begin with 6 planes in March next year.

    In addition to the airline, Regional Express comprises wholly owned subsidiaries Pel-Air Aviation and two pilot academies in Wagga Wagga and Ballarat.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Motley Fool contributor Daniel Ewing 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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  • Zip and Creso Pharma were among the most traded shares on the ASX last week

    Financial Technology

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

    As well as a couple of familiar faces, this week there were a few new names in the top five.

    Here’s the data:

    Zip Co Ltd (ASX: Z1P)

    This buy now pay later provider was the most popular share on the CommSec platform last week. It accounted for a total of 2.5% of trades over the five days. This followed the release of its trading update for the month of November. Unfortunately, despite 70% of these trades coming from buyers and the update revealing further strong growth at home and in the United States, it couldn’t stop the Zip share price dropping 7.8% over the week.

    Creso Pharma Ltd (ASX: CPH)

    This cannabis company is a surprise entry into the top five. It contributed 1.9% of trades on the platform last week, with 62% coming from buyers. They were fighting to get hold of shares after the UN announced the decision to reclassify cannabis as a less dangerous drug. The Creso Pharma share price rocketed 185% higher last week thanks to this news and has continued its ascent this week.

    Treasury Wine Estates Ltd (ASX: TWE)

    Treasury Wine shares accounted for 1.8% of trades on CommSec last week. News that China was putting material tariffs on this wine company’s products put a huge amount of pressure on the Treasury Wine share price last week. Some investors appear to believe the sharp decline in the Treasury Wine share price at the start of the week created a buying opportunity. A massive 77% of trades came from the buy side.

    Flight Centre Travel Group Ltd (ASX: FLT)

    This leading travel agent was popular with CommSec investors last week. Its shares were attributable to 1.8% of trades over the five days, with 66% of them coming from buyers. Those investors will be pleased to learn that the Flight Centre share price continued its positive run and recorded its fifth consecutive week of gains. This followed a 52% jump in November thanks to vaccine news and the re-opening of domestic borders.

    Betashares Nasdaq 100 ETF (ASX: NDQ)

    Finally, this exchange traded fund (ETF) makes the top five after accounting for 1.6% of trades on the platform. The growing popularity of fund constituents such as Apple, Facebook, Microsoft, and Tesla led to 80% of these trades coming from buyers. The good news for them is that the Nasdaq index hit a record high overnight.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    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 and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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  • Why is the APA Group (ASX:APA) share price trading flat today?

    A woman lying face down on the couch, indicating a flat ASX share price

    The APA Group (ASX: APA) share price is trading relatively flat this morning after the company announced its first hybrid energy investment. Shares in the energy infrastructure business are currently trading just 0.00% higher at a price of $10.12.

    What is the investment?

    APA Group announced a 2-phase power expansion agreement with existing customer Gold Road Resources Ltd (ASX: GOR) in Western Australia. It’s a $38 million investment that will boost total installed capacity from 45MW to 64MW.

    The agreement includes the creation of a hybrid energy microgrid, making it APA’s first hybrid energy investment.

    The company will carry out the upgrades in 2 phases. Firstly, APA will expand the Gruyere Power Station by installing a 12th reciprocating gas-fired engine. The expansion work is under way and expected to be finished mid next year.

    In the second phase, APA Group will build, own and operate a 13MW solar farm. The hybrid control system will combine weather forecasting, battery control and existing engine control systems to optimise renewable use. Phase two is expected to be completed by the fourth quarter of 2021. 

    Commenting on the investment, APA CEO and managing director Rob Wheals said:

    This new Gruyere battery storage and microgrid project is an exciting first for APA, demonstrating our ability to respond to the needs of our customers with world-class energy solutions.

    Consistent with our purpose to strengthen communities through responsible energy, we are delighted to be working with the Gruyere JV on this innovative energy solution.

    What now for the APA Group share price?

    When completed, APA will be able to provide renewable energy supported by battery storage. Gas supply will continue on a take or pay basis through APA’s interconnected gas pipeline network.

    As such, the expansion of the power station complements APA’s recent $460 million pipeline investment.

    The APA share price has dropped 8% this year.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of APA Group. 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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  • Cisco makes 2 big acquisitions to take on Zoom

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

    Person engaged in a zoom meeting on laptop computer

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

    Cisco Systems Inc (NASDAQ: CSCO) announced on Monday that it is making two acquisitions to help improve the functionality of its WebEx videoconferencing, collaboration, and customer service platform. The networking giant is paying an undisclosed sum to acquire audience interaction platform Slido. The technology company provides tools that help moderate large groups, and “enables real-time feedback and insight before, during and after any meeting.” Slido has features that allow viewers and meeting participants to ask questions, answer polls, and participate in quizzes, among others. The Motley Fool regularly uses Slido for its events. 

    Slido boasts over 7 million participants each month and will continue to be available for use by competitors. “Cisco understands the value in continuing Slido as a stand-alone product and building great integrations with other virtual meeting and presentation platforms like [Microsoft (NASDAQ: MSFT)] Teams, Zoom (NASDAQ: ZM) and [Alphabet‘s (NASDAQ: GOOGL) (NASDAQ: GOOG)] Google Meet,” said Juraj Pal, Slido’s product head. 

    The tech giant also revealed plans to acquire IMImobile, a cloud communications software and services company, for roughly $730 million. IMImobile allows organizations to communicate with their customers across various channels, including social media, messaging, and voice. The company will become part of WebEx to further Cisco’s contact center-as-a-service (CCaaS) platform. The company will use the platform’s omnichannel capability to allow businesses to better connect with their customers.

    Zoom has become the de facto industry standard for video conferencing since the rise of the pandemic earlier this year. In the third quarter, its revenue grew 367% year over year. At the same time, the number of customers contributing $100,000 or more in trailing-12-month revenue grew 136%, while the number of customers with more than 10 employees grew 485%. This marked the third consecutive quarter of triple-digit revenue growth for Zoom, eating into Cisco’s market opportunity.

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

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    Danny Vena owns shares of Alphabet (A shares), Microsoft, and Zoom Video Communications. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. 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 Alphabet (A shares), Alphabet (C shares), Microsoft, and Zoom Video Communications. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Zoom Video Communications. 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 Aussie dollar just hit a new 2-year high. Here’s what that means

    Australian dollar symbol on digital chart with green up arrow

    The Australian dollar has just hit a new 2-year high.

    Yes, our national currency hit a new high overnight. According to reporting in the Australian Financial Review (AFR) this morning, the dollar hit a high of 74.53 US cents last night, which is reportedly its highest level since August 2018 – more than 2 years ago. The dollar has pulled back somewhat since, and is trading at 74.17 US cents at the time of writing.

    Why the dollar is on the rise

    So why is our dollar pushing these new highs? It’s likely that a significant factor is the rising prices of commodities that we have witnessed over the past month. As I’m sure most readers would be aware, mining and processing of commodities like iron ore, gold, oil and coal form a large component of the Australian economy. And over the past month alone, we have seen iron ore go from under US$120 per tonne to today’s price of more than US$145 per tonne.

    Likewise, Brent crude oil has appreciated from just under US$38 per barrel a month ago to today’s price of US$49.25. And since 30 November, gold has risen from ~US$1,770 per ounce to today’s price of US$1,865.50 per ounce.

    Because Australia exports large volumes of these commodities (particularly iron ore), rising prices mean overseas buyers have to exchange more US dollars for Australian dollars, increasing the demand for Aussie dollars. This, under the laws of supply and demand, has the effect of pushing our dollar up in response.

    So is the Aussie dollar going to continue to climb and make new highs? Are we heading back, perhaps, to the days of parity with the greenback?

    Well, the AFR quotes currency strategists from National Australia Bank Ltd (ASX: NAB) on that matter:

    Markets remain in consolidation mode as we await Brexit and US stimulus developments… After no breakthrough, PM Johnson and the EU Commission President will now meet in person in coming days, so hopes for an EU-UK trade deal survive another day. Meanwhile US Congress bipartisan negotiators are still ongoing on a $908 billion pandemic relief package.

    So, that’s a ‘not anytime soon’ from NAB, it seems.

    What does this mean for ASX shares?

    As I discussed a fortnight ago, a higher dollar is, in simplistic terms, good news for companies that import goods and services, and bad news for those that export. Thus, companies like JB Hi-Fi Limited (ASX: JBH), Bapcor Ltd (ASX: BAP) and Harvey Norman Holdings Limited (ASX: HVN) are probably cheering this development, as it allows them to import TVs, car parts and computers at a lower cost.

    But for miners like BHP Group Ltd (ASX: BHP) and Newcrest Mining Ltd (ASX: NCM), as well as any other company that sends products overseas, the news isn’t so sweet (although the miners do have high commodity prices to help ease the pain).

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited and Newcrest Mining Limited. The Motley Fool Australia owns shares of and has recommended Bapcor. 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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  • Woodside (ASX:WPL) share price flat on CEO retirement

    The Woodside Petroleum Limited (ASX: WPL) share price is trading flat today on news that CEO Peter Coleman plans to retire next year. At the time of writing, the Woodside share price is down just 0.04% at $23.14. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.3% at 6,692 points.

    CEO retirement

    The market was advised this morning that Mr Coleman had announced his intention to retire. While the CEO’s exit won’t take effect until the second half of 2021, Woodside has begun to search for a new replacement.

    Mr Coleman’s decision to retire comes as the company has set itself up for a bumper year ahead. During the year, management has taken steps to ensure the continuity of its operations. The company says its on track to deliver record production in its next report, and growth plans are progressing along expectations.

    What did management say?

    Commenting on the retirement news, Woodside chair Richard Goyder said:

    Peter has been an outstanding CEO and his focus on safety, base business and operational excellence have created a resilient and future-focused organisation. His commitment to prudent capital management and maintaining a strong balance sheet and liquidity has complemented his track-record for operational excellence.

    Peter is a corporate leader in safety and environmental performance, inclusion and diversity, gender equality, and Indigenous respect and awareness and has entrenched these values in Woodside’s culture.

    Mr Coleman said his decision to retire in 2021 would ensure “continuity to support the Scarborough investment decision, which will transform Woodside, while ensuring our international projects in Senegal and Myanmar maintain their positive momentum”.

    The company has been reset with a strong platform for the future, with the next stage of our journey ready for a new CEO to take the required ownership of Woodside’s significant growth projects.

    About the Woodside share price

    The Woodside share price has had a rough 9 months as COVID-19 disrupted oil and gas markets and sent its shares sinking. During March, the share price dropped as low as $14.93, a price not seen since 2004.

    Woodside shares are trading 34% lower than at the start of the year.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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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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  • Why the Tali Digital (ASX:TD1) share price is surging 30% today

    man holding bunch of balloons soaring through the air signifying asx share price rise

    The Tali Digital Ltd (ASX: TD1) share price is surging by nearly 30% today, after the company announced it has signed an investment and advertising agreement with the Times Group of India. At the time of writing, the Tali Digital share price is trading at 4.8 cents after closing its previous session at 3.7 cents.

    What’s driving the Tali Digital share price?

    The Tali Digital share price is rocketing higher after the digital health company advised the new agreement was signed with Brand Capital International (BCI), which is part of the Times Group of India.

    Under the investment agreement, BCI will make an initial investment of US$2 million into Tali. This will see BCI receiving 81.8 million shares in Tali at 3.3 cents per share, representing 9.8% of the company.

    There is also a clause for additional investments by BCI of up to $US5 million, which will be at the mutual agreement of both parties.

    The advertising agreement, meanwhile, will see The Times Group of India become Tali’s channel partner in promoting the sales of its ‘Tali Detect’ and ‘Tali Train’ cognitive performance tools into India.

    Funds from the initial investment will be utilised for the advertisement agreement with The Times Group, which will provide Tali access to 550 million people every month.

    Big potential in India

    Tali says the Indian market represents a significant growth opportunity for the company.

    Almost one in eight children in India between the ages of 2 and 9 years are estimated to have at least one neuro-developmental disorder. This represents a direct opportunity for Tali to target its products to a market of approximately 30 million children.

    India also possesses the world’s second largest middle-class population with approximately 340 million people, and is set to surpass China in size by 2035.

    The Tali Detect and Tali Train cognitive performance tools have already been launched in India via the iOS and Android app stores in October 2020.

    Today’s agreement with the Times Group will provide a platform for these products to be directly marketed to the Indian consumer via the Times Group’s 360-degree media assets, which include popular print, television, radio and digital channels in India.

    Tali Digital managing director Glenn Smith said that India provides a significant growth opportunity for the company.

    We are pleased to be partnering with Brand Capital International in the Indian market. This deal will provide significant exposure possible in growing the Indian market opportunity for Tali.

    What are ‘Tali Detect’ and ‘Tali Train’?

    Tali Detect and Tali Train are digital tools to help children with attention and learning difficulties.

    The technology combines 25 years of research in developmental psychology and cognitive neuroscience to deliver game-based digital programs to assess and strengthen attention capabilities early in life.

    In developing these products, Tali has leveraged research from one of Australia’s leading neuroscience institutes – the Monash Institute of Cognitive and Clinical Neurosciences – to build algorithms that produce reports for parents, teachers and healthcare partners.

    About the Tali Digital share price

    In October, Tali made an announcement reporting its products had been clinically validated, and had achieved regulatory clearance in the United States and the European Union.

    The company advised that commercialisation of its products would be executed throughout the remainder of FY21. 

    The Tali Digital share price has made grounds since losing 70% of its value in March, at the height of the pandemic. After today’s rise, Tali shares are now almost back at the same level at which they began 2020.

    The company commands a market capitalisation of around $28 million.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Motley Fool contributor Eddy Sunarto 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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  • Youfoodz (ASX:YFZ) share price crashes 25% lower following IPO

    falling asx share price represented by woman making sad face

    The Youfoodz Holdings Limited (ASX: YFZ) share price has had a very disappointing start to life as a listed company after completing its initial public offering (IPO) this morning.

    At the time of writing, the ready-made meal company’s shares are down 25% from their listing price to $1.12

    The Youfoodz IPO.

    Youfoodz listed on the Australian share market after raising $70 million via the issue of 46,725,779 shares at a price of $1.50 per share. This gave the company a market capitalisation of approximately $202 million.

    The company revealed that it launched its capital raising to provide it with access to capital markets, which it expects will provide funding and financial flexibility to pursue its growth initiatives.

    These initiatives include marketing, product development, the fit out of a new purpose-built manufacturing facility, and other growth opportunities.

    In addition to this, the IPO will allow it to repay its shareholder loan, broaden its shareholder base, and provide a liquid market for its shares.

    What is Youfoodz?

    Youfoodz generates revenue from the sale of its fresh, ready-made meals, snacks, and drinks. The company operates a complementary omni-channel sales model whereby products are distributed through both B2C and B2B channels.

    Its B2C offering is facilitated through a user-friendly online and mobile application platform. This platform allows customers to select from the full product range of Youfoodz’ products to create an order.

    In FY 2020 the company generated revenue of $127.3 million and recorded a loss after tax of $6.2 million.

    Whereas in FY 2021, Youfoodz is forecasting a 17.8% increase in revenue to $149.9 million and an improved net loss of $0.6 million.

    This is still only a small slice of its overall market opportunity. In FY 2020, the Australia and New Zealand market for ready-made meals was estimated to be worth $3.2 billion at retail prices.

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    Returns as of 6th October 2020

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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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  • Cimic (ASX:CIM) share price flat despite another contract win

    flat asx share price represented by investor shrugging

    Cimic Group Ltd (ASX: CIM) shares are flat today despite the company announcing a new contract win with Rail Projects Victoria for a yet-to-be disclosed amount. 

    At the time of writing, the Cimic share price is up just 0.07% at $26.58.

    The scope of work

    Cimic says Rail Projects Victoria has appointed its business, UGL, as preferred tenderer to improve rail services for Victoria’s Gippsland Line.

    The value of the contract has not been disclosed, and the company says revenue to UGL will be confirmed at contract execution.

    The scope of the project includes second platforms and station amenity works at three stations along the line and reactivating the second platform at Traralgon. Civic will also perform track duplication, level crossing upgrades for safety and reliability, as well as improvements to signaling, train control systems and freight passing loops.

    Cimic Group chief executive said this was not the first time that Cimic has worked on a project for Rail Projects Victoria.

    “We are pleased to build on our relationship with Rail Projects Victoria to deliver improved rail services on the Gippsland Line, benefitting the growing communities of Gippsland, and creating jobs in the region.”

    Other recent contract wins

    Today’s contract is the second major contract that the engineering company has announced within the space of a week.

    Last Friday, the company announced several new contract wins for UGL worth $112 million. Those contracts were in the utilities sector, involving the state governments and electricity network operator Transgrid, to build electricity transmission lines.

    Cimic was also recently selected by the Australian Government’s Department of Defence to deliver the development phase of the Australia-Singapore Military Training Initiative (ASMTI) facilities project in North Queensland. That project is worth $800 million in revenue.

    How did the Cimic share price perform in 2020?

    The Cimic share price has lost around 20% of its value in 2020. This comes alongside the cyclical downturn in general construction activities globally as a result of the COVID-19 pandemic. 

    Cimic shares dropped to $11.87 in March, their 52-week low, before recovering to today’s level. Cimic currently commands a market capitalisation of $8.3 billion.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Motley Fool contributor Eddy Sunarto 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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  • ASX 200 up 0.1%: Bank of Queensland update, Link jumps, Woodside CEO to retire

    Worried young male investor watches financial charts on computer screen

    At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is currently up 0.1% to 6,681 points.

    Here’s what has been happening on the market today:

    Bank of Queensland update.

    The Bank of Queensland Limited (ASX: BOQ) share price is trading lower today despite the release of a positive business update. As well as revealing that it is performing in line with expectations in FY 2021, the regional bank reported a significant reduction in COVID-related loan deferrals. At the end of November, just 3% of its housing loans and 3% of its small to medium sized business (SME) loans were on deferral. This represents an 80% and 82% reduction, respectively, since the end of June.

    Link share prices rockets higher.

    The Link Administration Holdings Ltd (ASX: LNK) share price is rocketing higher today after receiving an unsolicited takeover approach from SS&C Technology. The Nasdaq listed company has tabled an offer of $5.65 per share, which represents a 13.9% premium to Link’s last close price. The Link board advised that it will consider the SS&C proposal and provide further updates when necessary. This offer is 4.6% higher than the $5.40 per share offered by a consortium comprising Pacific Equity Partners and Carlyle Group.

    Woodside CEO to step down.

    The Woodside Petroleum Limited (ASX: WPL) share price is edging lower after the energy producer announced the retirement of its Chief Executive Officer, Peter Coleman. After 10 years in the role, Mr Coleman advised that he believes now is the right time to retire and transition leadership. Woodside has commenced an internal and external search for the company’s next CEO

    Best and worst ASX 200 performers.

    The best performer on the ASX 200 on Tuesday by some distance has been the Link share price with a 14% gain following its takeover approach. Going the other way, the worst performer has been the G8 Education Ltd (ASX: GEM) share price with a 5.5% decline. This was driven by the release of a trading update by the childcare operator this morning.

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    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 Link Administration Holdings Ltd. The Motley Fool Australia has recommended Link Administration Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

    The post ASX 200 up 0.1%: Bank of Queensland update, Link jumps, Woodside CEO to retire appeared first on The Motley Fool Australia.

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