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Macquarie Telecom Group Ltd (ASX: MAQ) has just announced a significant client contract win. Macquarie Telecom’s share price is up 4.39% at the time of writing amid a broader rise in the ASX.

What was the deal?

The company advised that its Macquarie Data Centres business has entered a contract to provide approximately 10MW of capacity (IT load) at its Macquarie Park Data Centre Campus. The contract details cannot be disclosed at this stage for confidentiality reasons.

Macquarie Telecom said it would provide updated guidance on the associated capital expenditure in an upcoming investor briefing later this month.

Chief executive David Tudehope said: 

Macquarie’s 20-year strategy of investing in world class data centres is based on strong demand for data centre capacity as customers migrate to cloud and colocation services. This customer win recognises the world class investment we have made in the Macquarie Park Data Centre Campus in Sydney’s North Zone.

A brief take on Macquarie Telecom

Macquarie Telecom provides telecom services to corporate and government customers within Australia. The company operates through two segments, namely: Hosting (for business and government customers), and Telecom mobiles.

The hosting segment relates to the provision of services utilising Macquarie Telecom’s data hosting facilities. The company generates the majority of its revenue from the this segment. The telecom segment on the other hand, relates to the provision of voice and mobile telecommunications services utilising the Macquarie Telecom data network. 

Macquarie Data Centres’ customers include Fortune 500 companies as well as the Australian Federal Government, where it provides secure and compliant data centre services.

Macquarie Telecom won the award for Best Customer Experience in the World, and Macquarie’s CEO won the CEO of the Year at the World Communications Awards in London on 28 October.

How has the company performed in 2020?

Macquarie Telecom’s full year revenue for FY20 was $266.2 million, a year-on-year increase of 8%. Its earnings before interest, tax, depreciation and amortisation (EBITDA) rose 25% to $65.2 million. This compared favourably against its competitor Nextdc Ltd (ASX: NXT), which posted an overall net loss after tax of $45.2 million for FY20. 

Macquarie Telecom’s share price has gone through the roof this year, gaining around 110%, including today’s rise of 4.39%, where the share price is currently trading at $48.96. The company has a market cap of $1 billion at this price.

More reading

• The 5 best-performing ASX 200 shares so far this year
• Why ResMed (ASX:RMD) and these ASX shares just hit record highs
• Which 5 ASX shares hit 52-week highs on Friday?
• 5 best performing large caps in 2020
• These ASX growth shares could be long-term market beaters

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. 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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The 2020 COVID-19-related stock market crash may mean that some investors look outside of dividend shares for a passive income. For example, they may decide to purchase bonds or hold cash for their lower risks and more stable outcomes.

However, the high yields currently available across the stock market could mean that dividend shares are a more attractive option. They could also offer dividend growth over the long run.

Meanwhile, building a diverse portfolio of financially-sound businesses could mean less risk in an uncertain economic period.

Making a passive income with high-yield dividend stocks

High-yield dividend stocks could offer a far more attractive passive income than other assets. Although some shares have recovered from the 2020 stock market crash, many others continue to trade at low prices. As a result, their yields are above their historic averages.

By contrast, income-producing assets such as cash, bonds and property may offer relatively unattractive income prospects. Low interest rates could remain in place over the medium term, as policymakers seek to stimulate the economy. This may mean that the returns on cash and bonds struggle to beat inflation. Over time, this may lead to a loss of spending power. Meanwhile, high house prices may mean that investing in property yields a relatively low level of income compared to dividend shares.

High-yield dividend stocks could also offer a growing passive income. The current economic woes facing the world are unlikely to last over the long run. Positive GDP growth has always followed recessions on a global basis. Therefore, investors could benefit from dividend growth as a result of their holdings generating higher profits as the world economy recovers.

Reducing risks from dividend investing

Of course, making a passive income from dividend stocks is riskier than other mainstream assets. Even the very best companies can experience periods of disappointing performance that disrupts their ability to pay dividends. Therefore, it is a good idea for an investor to try to reduce risks wherever possible.

One simple strategy to achieve this goal is to build a diverse portfolio of stocks. In doing so, an investor reduces their exposure to a specific business, sector or region. This can mean their income is more stable and reliable than it would be in a more concentrated portfolio. It may also provide them with greater opportunity to benefit from growth prospects in a wider range of industries and countries.

Meanwhile, selecting the most financially-sound businesses for a passive income may mean risks are further reduced. Companies with strong balance sheets, wide economic moats and solid track records of performance in a range of economic conditions may offer a more stable income return over the long run. They may also be better able to adapt to changing operating conditions, which could lead to rising dividends in the long run.

More reading

• Why Bingo, Evolution, JB Hi-Fi, & Super Retail shares are dropping lower
• 2 ASX dividend shares analysts rate as a ‘buy’
• Why the Electro Optic Systems (ASX:EOS) share price is up today
• Ausnet (ASX:AST) share price higher following half year results
• ASX 200 up 1.3%: CBA Q1 update, tech shares rebound, JB Hi-Fi sinks

Motley Fool contributor Peter Stephens has no position in any of the stocks mentioned. 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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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) has continued its remarkable run and is storming 1.45% higher to 6,432 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

Bingo Industries Ltd (ASX: BIN)

The BINGO share price is down 1% to $2.65 following the release of its annual general meeting update. The waste management company’s update was reasonably downbeat, with management continuing to expect COVID-19 headwinds to impact its business in 2021. In light of this, it expects its group EBITDA margin to decline by approximately 2% to 3% in FY 2021.

Evolution Mining Ltd (ASX: EVN)

The Evolution share price has fallen 3% to $5.61. Investors have been selling the gold miners again on Wednesday despite a small rebound in the price of the precious metal. It appears as though safe haven assets are losing their allure due to the prospect of a working COVID-19 vaccine being released soon. The S&P/ASX All Ordinaries Gold index is down 1.7% today.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price has tumbled 5% lower to $44.18. The catalyst for this has been a broker note out of Macquarie this morning. According to the note, the broker has downgraded the retailer’s shares to a neutral rating and cut the price target on them to $49.50. It believes consumer behaviour will return to normal in 2021 due to the aforementioned vaccine.

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price has dropped 3% to $10.02. This also appears to have been driven by a broker downgrade. Analysts at Morgans have downgraded this retailer’s shares to a hold rating and reduced the price target on them to $11.78. While it is expecting a strong holiday period, it believes a redirection of spending (post-vaccine) will slow its growth in 2021.

More reading

• ASX 200 up 1.3%: CBA Q1 update, tech shares rebound, JB Hi-Fi sinks
• The Bingo (ASX:BIN) share price dips on AGM
• Why the JB Hi-Fi (ASX:JBH) share price is down 7% today
• Gold shares tumble on vaccine news
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. 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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The recent reduction in interest rates from the Reserve Bank of Australia (RBA) has once again highlighted the appeal of ASX dividend shares for those investors seeking regular investment income. At the new cash rate of 0.1%, there really are few alternatives.

Whilst some investors might seek the safety of cash and term deposits (complete with government guarantee), the reality is that an interest rate of 1% (if you’re lucky) isn’t going to help you build wealth or provide a decent income.

Here’s a closer look at 2 ASX dividend shares that have been recommended by Motley Fool analysts.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is one of the most diversified companies on the ASX. It owns a massive portfolio of businesses, ranging from Bunnings and Officeworks to Kmart and Target. It also owns mines, chemical manufacturing plants, Kleenheat Gas, and a clothing line, amongst other things. Wesfarmers also still retains a ~5% stake in Coles Group Ltd (ASX: COL).

Wesfarmers has a long history on the ASX – a history that includes a long streak of dividend payments. This company has paid 2 dividends every year since at least 1985 (when Wesfarmers’ online records go back to). Its two most recent payouts came in at 75 and 95 cents per share, respectively (the latter including an 18 cents per share special dividend). That gives Wesfarmers a trailing dividend yield of 3.6% on current prices, or 5.14% grossed-up with full franking credits.

Wesfarmers is currently a recommendation of the Motley Fool’s Everlasting Income service.

Washington H. Soul Pattinson & Co Ltd (ASX: SOL)

Soul Patts is another ASX company that’s very old and highly diversified. But instead of owning a portfolio of underlying businesses, this company instead owns a portfolio of ASX shares within it. Some of the businesses Soul Patts has large stakes in right now include Brickworks Ltd (ASX: BKW), TPG Telecom Ltd (ASX: TPG) and New Hope Corporation Limited (ASX: NHC). It also owns a portfolio of unlisted assets, such as property.

Soul Patts also has the rare distinction of having a record of 20 straight years of annual dividend increases – a record unmatched on the ASX today. Its last two dividend payments came in at 25 cents and 35 cents a share, respectively. That gives this company a trailing dividend yield of 2.2% on current prices, or 3.14% grossed-up with full franking.

Soul Patts is a current recommendation of the Motley Fool’s Dividend Investor service, as well as Everlasting Income alongside Wesfarmers.

More reading

• 3 compelling ASX shares rated as buys by brokers
• Why Coles, Incitec Pivot, Kogan, & Northern Star shares are crashing lower
• Why big brokers are bullish about the Woolworths (ASX: WOW) share price 
• ASX 200 Weekly Wrap: US election special
• Why Soul Patts (ASX:SOL) is a strong ASX dividend share

Motley Fool contributor Sebastian Bowen owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. 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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The Electro Optic Systems Hldg Ltd (ASX: EOS) share price is rising higher today after the company provided an update on its EM Solutions business.

During late-morning trade, shares in the global defence contractor are up 1.99% to $5.90.

Let’s take a look at how EM Solutions performed over the year.

EM Solutions update

Following the integration of EM Solutions into the Electro Optic Systems group, management advised of strong growth from the newly acquired business.

The Brisbane-based division recorded a successful first year under ownership, with new contract wins and significant technology development. EM Solutions achieved growth of more than 20% year-on-year in both revenue and earnings before interest and tax (EBIT).

As expected, critical supply chain components were affected by delays due to COVID-19. However, management is confident that all schedule shipments will be met before the end of the year.

For the current calendar year, EM Solutions has delivered its tri-band Cobra satellite communications terminals to the Royal Australian Navy. The upgrades were implemented on the Anzac frigates and new offshore patrol vessel programs. In November, the first series of Cobra terminals were shipped as part of a $14 million contract with three NATO navies.

In addition, EM Solutions received a $3 million order from a United States contractor supplying manpack satellite terminals. The equipment will be employed into a US defence program, and include Ka-band transceivers onto multi-layered platforms.

As a result of the new deals, EM Solutions advised it has a record confirmed order backlog of 14 month’s production. Furthermore, the company is in discussions with an overseas defence force that could see future production stretch to more than 2 years.

The company is investing strongly in research and development, using its knowledge on electromagnetics and microwaves. EM Solutions is seeking to enhance a new breed of hybrid RF-optical systems that will support forthcoming satellite systems.

What did management say?

Commenting on the efforts made to accomplish its goals, EOS Communications Systems CEO Glen Tindall said:

The team at EM Solutions have worked exceptionally hard to deliver a fantastic result, demonstrating their dedication to their clients, adding to EOS’ proprietary technology base, and maximising the synergies between EM Solutions and the broader EOS group.

As government customers continue to evolve towards multi-orbit, multi-band satellite communications, EM Solutions is uniquely positioned to deliver products that provide maximum flexibility and resilience.

We will be developing next generation satcom-on-the-move terminals that can support the optical technology that will be deployed by the EOS SpaceLink MEO Satellite Relay System.

How has the EOS share price performed?

The EOS share price suffered a setback when COVID-19 hit global logistics, restricting exports to overseas markets. Since the fall-out in March, the defence contractors’ shares have somewhat recovered but are meeting resistance around the $6 mark.

For EOS to reach back to its share price from pre-pandemic levels, supply chains constraints will have to be lifted. This will allow a steady flow of products to be delivered to international customers, thus receiving a steady flow of revenue.

More reading

• Why the Electro Optic Systems (ASX:EOS) share price is pushing higher

Aaron Teboneras owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings Limited. 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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The Ausnet Services Ltd (ASX: AST) share price is up by 2.79% at the time of writing to $2.02 per share. This comes after the energy distribution company released its results for the 6 months to 30 September 2020.

What did Ausnet announce?

In the 6 months to 30 September 2020, Ausnet had revenue of $1.04 billion, an increase of 1.8% compared to the prior corresponding period (pcp). Higher revenues were driven by increased residential electricity distribution volumes as a result of COVID-19. The company also had higher lease interest income from completed wind farms.

Other features of Ausnet’s results for the 6 months to 30 September 2020 included:

• earnings before interest, tax, depreciation and amortisation (EBITDA) of $661.6 million, an increase of 5.7% on pcp
• earnings before interest and tax (EBIT) of $429.7 million, an increase of 8.1% on pcp
• net profit after tax of $225.7 million, up 31.4% on pcp
• $1.5 billion liquidity at 30 September 2020
• dividends of 4.75 cents per share for the half year (40% franked), down 6.9% on the pcp

According to the company, profits were boosted by lower finance costs. At 30 September 2020, Ausnet had an average cost of debt of 4.25% compared to 4.48% in the prior corresponding period. The company held an A-/stable rating from Standard and Poors and an A3/stable rating from Moody’s.

Ausnet gave some guidance on its future performance. Dividends for the full year were expected to be 9–9.5 cents, 40% franked. The company forecast that:

• its regulated asset base growth would be around 2–2.5% per annum to FY2024
• it is on track to hold $1.5 billion of contracted energy infrastructure assets by FY2024
• net debt to contracted and regulated asset base should be less than 70% by FY2024

About the Ausnet share price

The Ausnet share price is up more than 37% from its 52-week low of $1.46 and up 11.7% since this time last year. On current prices, Ausnet’s price-to-earnings ratio sits at 25.68 and its market capitalisation comes in at $7.5 billion.

More reading

• Leading brokers name 3 ASX shares to sell today

Motley Fool contributor Chris Chitty has no position in any of the stocks mentioned. 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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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning run. The benchmark index is currently up 1.3% to 6,422.8 points.

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

Commonwealth Bank Q1 update.

The Commonwealth Bank of Australia (ASX: CBA) share price is pushing higher today after the release of its first quarter update. For the three months ended 30 September, the bank posted an unaudited net profit after tax of $1.8 billion. This was a 16% decline over the prior corresponding period. In addition to this, Commonwealth Bank revealed a sharp reduction in its COVID-19 temporary loan deferrals during October. The bank recorded a net reduction in total loan deferred facilities of 59% during the month, representing a monthly net reduction in deferred balances of ~$21 billion.

Tech shares rebound.

The Australian tech sector has rebounded on Wednesday after a horror showing on Tuesday. The likes of Altium Limited (ASX: ALU) and Xero Limited (ASX: XRO) are recording solid gains and helping to drive the S&P/ASX All Technology Index (ASX: XTX) 2% higher. One tech share that is still struggling today is Afterpay Limited (ASX: APT). Its shares are down slightly at lunch. Though, it is worth remembering that they have more than tripled year to date.

Gold miners sink lower again.

It has been another red day for gold miners such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST). Although the gold price has recovered from its Monday night selloff, it appears that investors are not in a rush to invest. With risk sentiment improving, funds have been piling into areas of the market that have underperformed in 2020.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Wednesday has been the Virgin Money UK CDI (ASX: VUK) share price with a 13% gain. The prospect of a working COVID-19 vaccine has given the UK-based bank a big boost. The worst performer is the JB Hi-Fi Limited (ASX: JBH) share price with a 5% decline. This morning the retailer’s shares were downgraded by analysts at Macquarie.

More reading

• Why CBA, Straker, Woodside, & Xero shares are surging higher
• CBA (ASX:CBA) share price lifts on first quarter results
• These ASX dividend shares offer 4.5%+ dividend yields
• 5 things to watch on the ASX 200 on Wednesday
• Enjoying your ASX 200 gains? Here’s why you should watch out for January

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 and recommends Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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The share price of Bingo Industries Ltd (ASX: BIN) has slipped 1.5% this morning following the company’s outlook for FY21 at the annual general meeting (AGM) this morning. Let’s take a look.

Highlights from the AGM

• Revenue $486.7 million, up by 21% from prior year
• Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) was $152.1 million, up 40.8% 
• Net Profit After Tax (NPAT) to $66 million, up by 196%
• Operating free cash flow of $160.1 million, up 37.4% 
• Achieved all safety targets for financial year 2020, recording a lost-time injury frequency rate of 0.4, which is a 50% improvement 

Management admitted that the company has been impacted hard by COVID-19, and it expected to be further impacted in the second half of FY21. 

The company is also anticipating increased regulations, which will result in increased compliance costs. It says that the Australian Competition and Consumer Commission (ACCC) market investigation is ongoing and the outcome is yet to be determined. 

Update and guidance for FY21

• Views on the outlook for FY21 remain unchanged, as the company anticipates COVID-19 headwinds may continue to impact the business in 2021.
• As a result, Bingo expects group EBITDA margin to decline in FY21 by approximately 2% to 3%, before rebounding to its longer-term target of 30%.
• Pre-collections volume continue to be affected by the ongoing impacts of COVID-19, down 10-15% below pre-COVID-19.
• Post-collections volume however, which accounts for approximately 72% of EBITDA, continued its strong momentum in volumes in the first four months of FY21.

What does Bingo do?

More reading

• ASX 200 up 1.3%: CBA Q1 update, tech shares rebound, JB Hi-Fi sinks
• ASX small cap RXP (ASX:RXP) is up 54%: Here’s why
• Why CBA, Straker, Woodside, & Xero shares are surging higher
• This under-the-radar ASX tech company’s shares are up 150% since March
• The Resources & Energy (ASX:REZ) share price dived 33% on open today. Here’s why.

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. 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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French consulting giant Capgemini SE (EPA: CAP) has announced it will buy Australian digital services provider RXP Services Ltd (ASX: RXP).

RXP is very much a small cap on the ASX, with a market capitalisation of under $60 million before the ASX opened Wednesday. Capgemini is a multinational worth $32 billion.

Capgemini will pay $95.5 million in cash for a 100% acquisition, equating to 55 cents per share.

RXP shares closed Tuesday at 34 cents – but exploded on Wednesday to be 54% up at 11:08 am AEDT, to hit 52 cents.

The buyout shows its intent in the Asia-Pacific, according to Capgemini.

“The acquisition of RXP Services will make Capgemini a market leader in Australia in digital, data and cloud,” said Capgemini Asia-Pacific and Middle East executive chair Luc-Francois Salvador.

“Both companies share similar values and vision of the role of technology and humanity in successfully transforming businesses and society. Our strengths will enable us to use insights, design and technology to create inclusive and sustainable futures for our clients.”

The transaction is currently undergoing all the necessary legal, regulatory and shareholder approvals and is expected to close in March 2021.

Carrot for existing shareholders

The RXP board stated Wednesday morning that it unanimously recommended the deal be accepted.

“The RXP board believes the offer from Capgemini represents an excellent opportunity for RXP shareholders to realise certain value at a significant premium.”

If shareholders approve the buyout a special dividend of 5 cents per share may be paid, although this amount would be taken out from the final 55 cents sale price.

The company already provides a fully franked yield of 10.29%.

RXP founder and chief executive Ross Fielding’s stake would turn into a $5 million payday when the buyout closes.

“I am very excited for the growth opportunities this will create for our 550 employees within a global and culturally aligned business,” he said.

“RXP’s valued clients stand to gain from an integrated group through increased scale.”

Once the deal is completed, RXP would become a wholly owned subsidiary of Capgemini.

More reading

• Why CBA, Straker, Woodside, & Xero shares are surging higher
• This under-the-radar ASX tech company’s shares are up 150% since March
• The Resources & Energy (ASX:REZ) share price dived 33% on open today. Here’s why.
• Why the Mesoblast (ASX:MSB) share price is jumping higher today
• Sky Network (ASX:SKT) share price shoots 6% higher on upgraded guidance

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. 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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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning run with another solid gain. At the time of writing the benchmark index is up over 1% to 6,406.3 points.

Four shares that are climbing more than most today are listed below. Here’s why they are surging higher:

Commonwealth Bank of Australia (ASX: CBA) 

The CBA share price is up over 2% to $74.04 following the release of its first quarter update. For the three months ended 30 September, the banking posted an unaudited net profit after tax of $1.8 billion. This was a 16% decline over the prior corresponding period. In addition to this, the bank revealed a sharp reduction in its COVID-19 temporary loan deferrals in October.

Straker Translations Ltd (ASX: STG)

The Straker share price has zoomed almost 44% higher to $1.30. Investors have been buying the translation platform provider’s shares after it announced a major deal with IBM. The global tech giant has appointed Straker as a strategic translation service provider on a two-year agreement. This agreement commences in January and comes with an option for an additional two years. It extends the company’s current relationship with IBM from one language (Spanish) to 55 languages.

Woodside Petroleum Limited (ASX: WPL)

The Woodside Petroleum share price has climbed 3% to $20.31. Today’s gain appears to have been driven by a rise in oil prices and the release of its investor day presentation. In respect to the latter, the company spoke positively about its future and confirmed its full-year output guidance of 99 to 101 million barrels of oil equivalent.

Xero Limited (ASX: XRO)

The Xero share price has surged 8% higher to $124.48. This is despite there being no news out of the business and accounting platform provider. However, with its half year results due to be released on Thursday, some investors may be buying shares in anticipation of a strong result.

More reading

• Why the Straker Translations (ASX:STG) share price is rocketing 37% higher today
• CBA (ASX:CBA) share price lifts on first quarter results
• These ASX dividend shares offer 4.5%+ dividend yields
• 5 things to watch on the ASX 200 on Wednesday
• Vaccine hopes cause ASX 200 to rise on Tuesday

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 Xero. The Motley Fool Australia has recommended Straker Translations. 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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