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

This week there are a couple of new faces to the list, with one in particular possibly coming as a surprise to readers.

Here’s the data:

Novonix Ltd (ASX: NVX)

The most traded share on CommSec last week was this battery materials supplier. Its shares accounted for 3.7% of trades on the platform. Speculation that the company might announce a deal with Tesla appeared to be getting investors excited. However, with no deal forthcoming, the Novonix share price unsurprisingly crashed lower. It lost 35% of its value last week.

BrainChip Holdings Ltd (ASX: BRN)

BrainChip shares were popular with investors again last week and accounted for 2.1% of trades on the CommSec platform last week. And despite 60% of these trades coming from the buy side, it didn’t stop the BrainChip share price from dropping 3.5% lower. The artificial intelligence technology company’s shares were still up over 750% year to date at the end of last week.

Zip Co Ltd (ASX: Z1P)

This BNPL provider’s shares accounted for 1.9% of trades on the CommSec platform last week. Approximately 63% of these trades were from the buy side, which appears to indicate that investors feel recent weakness in the Zip share price is a buying opportunity. Zip shares fell 3.2% last week and were down 32% month to date at the end of the period.

Commonwealth Bank of Australia (ASX: CBA)

Australia’s largest bank remains in the top five for a second week. CBA shares accounted for 1.9% of trades on the CommSec platform, with two-thirds coming from buyers. The good news for these buyers was that the government announced plans to relax responsible lending rules. This led to bank shares storming higher on Friday. The CBA share price recorded a weekly gain of 2.7%.

National Australia Bank Ltd (ASX: NAB)

As with CBA, this big four bank was popular with investors thanks to changes to responsible lending rules. This meant that NAB’s shares accounted for 1.8% of trades on the CommSec platform. Pleasingly, the positive finish to the week led to the NAB share price recording a weekly gain of 6.2%.

More reading

• 3 ASX dividend shares to buy for income today
• Why Flight Centre, MoneyMe, Paradigm, & Zip shares are pushing higher today
• Here are the 10 most popular ETFs on the ASX
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• Why I would buy Commonwealth Bank (ASX:CBA) and this ASX dividend share

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 ZIPCOLTD FPO. 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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Virgin Money UK (ASX: VUK) shares have edged higher today after the company announced a new interim chief financial officer (CFO). At the time of writing, the Virgin Money share price is trading 1.52% higher at $1.34. 

What was in the announcement?

The Virgin Money share price is rising as the company announced it has appointed its current group corporate development manager, Enda Johnson, as interim CFO. This will take effect on 15 October and the executive will remain in the role while the company continues its search for a permanent new CFO.  

The interim CFO appointed has held executive roles with Virgin Money UK since 2016 and, according to the company, he has been involved in strategy, corporate finance, corporate affairs, financial planning and investor relations. 

Mr Johnson joined the company in 2015 after working for Allied Irish Banks for 3 years as head of strategy and corporate affairs. Prior to this, he worked on the restructure and recapitalisation of Irish banks following the GFC in a role with the Irish National Treasury Management Agency. The new interim CFO started his career in investment banking with Merrill Lynch, working on client advisory and equity transactions.

The company’s former CFO, Ian Smith, will continue at the bank until 15 October.

Virgin Money UK CEO David Duffy commented on the appointment, stating;

Enda, together with Ian and I, has been instrumental in developing and directing Virgin Money UK’s strategy since the IPO. Enda’s broad banking experience and deep knowledge of our business make him a strong appointment as our interim CFO, providing continuity while we continue our search for a permanent CFO.

About the Virgin Money share price

In September, the Virgin Money share price was removed from the S&P/ASX 100 Index (ASX: XTO) which is a list of the biggest 100 companies on the ASX by market capitalisation.

In its quarterly trading update to 30 June 2020, Virgin Money UK announced that it had not seen any significant provisions or credit losses due to the COVID-19 pandemic, mainly due to government support. At 30 June 2020, the group’s CET1 capital ratio improved by .30% to 13.3%. Customer deposits were up by 4.3% in the June quarter due to lockdown induced savings and the company’s mortgage portfolio shrank by 1% due to lower house purchases during lockdowns.

The Virgin Money share price is up 26.42% since its 52-week low of $1.06, however, it is down 62.25% since the beginning of the year. The Virgin Money share price is down 35.58% since this time last year.

More reading

• 2 ASX shares I think are cheap today
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• These were the worst performing ASX 200 shares last week
• ASX 200 falls 0.7%, UK and travel shares drop
• COVID-19 fear hits the UK, 2 ASX shares to buy

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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ASX dividend shares are a minefield these days. The players and the game have massively shifted since the glory days of 2019. Now, it seems like an ASX share is deemed a successful dividend payer if it trumps up any cash whatsoever in 2020. But when it comes to choosing income shares, I’m adopting a long-term outlook.

Remember, the year we’re all going through has been truly unprecedented, and I’m not going to punish or overlook a company just because it’s had some issues fronting up cash in a year of a global pandemic. So here are 3 ASX dividend shares I would consider today for both their current and future dividend prospects.

3 ASX dividend shares to buy today

CSL Limited (ASX: CSL)

CSL is not normally classed as a strong dividend share, with most ASX investors preoccupied with its eye-watering growth over the past decade. But a dividend share CSL is and a top one at that in my view. The company’s current dividend yield doesn’t look too impressive at 1% today. But when you consider that CSL has managed to double its dividend over the past 5 years, the picture starts looking a lot clearer (and more beautiful). If this rate of dividend payouts continues at anywhere near this pace, you’ll be reaping substantial income from a CSL investment today in just a few years.

Commonwealth Bank of Australia (ASX: CBA)

I’ve gone on the record over my reluctance to consider CBA as a dividend share in the next few years. Even so, I’ve been impressed with the biggest ASX bank’s ability to keep the dividends flowing this year, especially when you consider rivals like Westpac Banking Corp (ASX: WBC) have practically had to turn off the dividend tap. As such, I think CBA is the pick of the bunch right now when it comes to ASX financials.

Yes, CommBank has only paid $2.98 in dividends this year so far. But that still gives CBA shares a yield of 4.57% on current prices. And if CBA ever got back to a position where it was able to pay $4.31 in dividends again (2019’s payouts), the shares today would give you a yield of 6.61%. Now just to be clear, I don’t think this will happen for a number of years. But it’s still a possibility to consider if you have a long investment horizon.

Ramsay Health Care Limited (ASX: RHC)

Ramsay sadly had to end a 20-year streak of annual dividend increases this year when it announced there will be no final dividend for ordinary shareholders in 2020. Such are the realities of this pandemic. Even so, Ramsay made a hard but necessary choice, and I think the company is well placed to resume its dividend trajectory in FY21.

This company is the largest provider of private hospital care in the country – an evergreen and growing market. This company has had a stellar history of growth over the past few decades, and I think is well-poised to continue this in light of our ageing population. As such, I think Ramsay is another top dividend share to buy for future income today.

More reading

• Here are the 10 most popular ETFs on the ASX
• 2 ASX shares I would buy for growth and income
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• 3 of the best ASX healthcare shares to buy and hold
• Why I would buy Commonwealth Bank (ASX:CBA) and this ASX dividend share

Sebastian Bowen owns shares of Ramsay Health Care Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended Ramsay Health Care 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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A select group of ASX shares have shot the lights out this year. And garnered most of the headlines.

Yes, we’re looking at you Brainchip Holdings Ltd (ASX: BRN). The Brainchip share price is up 640% year to date, despite tumbling around 50% since 10 September.

And you Afterpay Ltd (ASX: APT), with share price gains of 167% since 2 January.

Yet, while there are scores of high-quality shares on the S&P/ASX 200 Index (ASX: XJO), the index of the top 200 Australian listed stocks has lagged most other developed nations’ markets in 2020.

While edging higher in late morning trade today, year to date the ASX 200 is still down 11%.

In comparison, Germany’s DAX Performance-Index (DB: DAX) is down 3%; the United States’ S&P 500 Index (SP: .INX) is up 3%, and Japan’s Nikkei 225 (NIKKEI: NI225) has gained 1%.

Chinese and technology shares have been among the strongest performers. China’s CSI 300 Index (SHA: 000300) is up 11% in 2020, while the tech-heavy Nasdaq Composite (NASDAQ: .IXIC) has gained 22%.

With Brexit negotiations still unresolved and COVID-19 cases spiking, the United Kingdom’s FTSE 100 Index (FTSE: UKX), down 22% in 2020, is one of the few to greatly underperform the ASX 200.

Why Morgan Stanley sees value in ASX shares

Australia, fingers crossed, looks to have rounded the corner in its battle against the coronavirus. Victoria is emerging from its strict lockdown measures, and many states haven’t had any new cases in weeks.

State borders, with the exception of Western Australia for the time being, are reopening. And there is talk that the much-touted trans-Tasman travel bubble could eventuate before the Christmas holidays.

All that spells good news for the beaten down travel and leisure shares still lagging on the ASX.

This hasn’t escaped the attention of the analysts at Morgan Stanley. Noting that it’s likely ASX share earnings have hit their lows, the broker upgraded Australia to overweight in its regional country model.

According to Morgan Stanley’s equity strategist Chris Nicol (as quoted by the Australian Financial Review):

Despite a better-than-feared initial COVID impact and best-in-class economic trough, the ASX 200 has lagged developed market peers when comparing recovery in equity market levels from crisis lows… Catch-up catalysts are now in focus from investors. The set up from here is interesting where Australia’s recovery outlook contrasts with developed market economies entering winter and second-wave COVID risks rising amid fiscal debates and varying recovery impacts.

Foolish takeaway

If you take a look through the leading shares in the travel and leisure business, you’ll find most of them are still well down for the year. Yet, again for most of these companies, nothing has changed from their previously successful business model. Aside, of course, from the pandemic.

If Australia is indeed on track to reopen its domestic borders alongside travel to New Zealand over the next few months, these shares should enjoy some of the strongest rebounds.

One blue chip share that’s really been pummeled by the travel bans is Sydney Airport Holdings Pty Ltd (ASX: SYD). Historically a reliable dividend payer with strong annual share price growth, the Sydney Airport share price has gained nearly 30% since the 19 March lows, but it is still down almost 33% from 17 January.

That means if the share price recovers to its 17 January levels — which I believe is likely inside the next 1 to 2 years — investors buying shares today could be looking at gains of 50%.

More reading

• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• Brokers name 3 ASX shares to buy right now
• Why the Flight Centre (ASX:FLT) share price and Webjet (ASX:WEB) share price are taking off
• Why you should look beyond the second wave to the blue investment skies beyond
• Macquarie says ASX value shares will outperform growth stocks from here

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. 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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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up slightly to 5,956.2 points.

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

The Flight Centre Travel Group Ltd (ASX: FLT) share price is up 2.5% to $14.30. Investors have continued to buy travel shares on Tuesday amid speculation that a travel bubble will soon open up between Australia and New Zealand. Declining COVID-19 cases in Victoria also appear to have given investor sentiment a boost.

The MoneyMe Ltd (ASX: MME) share price is up over 3% to $1.55. This morning the digital consumer credit company announced that it has established a new warehouse funding facility. The new facility is led by Westpac Banking Corp (ASX: WBC) and reduces its funding costs by more than half. MoneyMe will now introduce more competitive pricing across its risk based priced Personal Loan and Freestyle products.

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has surged 15% higher to $2.77. Investors have been buying the biopharmaceuticals company’s shares after it extended and expanded its exclusive license and supply agreement with bene pharmaChem. This is a big positive for Paradigm as bene pharmaChem is the only FDA approved manufacturer/supplier of Pentosan Polysulphate Sodium (PPS). PPS is used in the company’s Zilosul product.

The Zip Co Ltd (ASX: Z1P) share price has risen over 2% to $6.39 despite there being no news out of the buy now pay later provider. However, a number of tech shares are charging higher on Tuesday following a positive night of trade on Wall Street’s Nasdaq index. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is storming 1.8% higher.

More reading

• Why the Paradigm (ASX:PAR) share price is storming 12% higher today
• MoneyMe (ASX:MME) share price jumps 10% on Westpac (ASX:WBC) funding deal
• Are ASX travel shares like Webjet (ASX:WEB) set to soar?
• Why the Paradigm (ASX:PAR) share price has rocketed 8% higher today
• ASX 200 up 0.1%: a2 Milk crashes lower, Flight Centre and Webjet surge higher

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 ZIPCOLTD FPO. The Motley Fool Australia has recommended Flight Centre Travel 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 ikegps Group Limited (ASX: IKE) share price has climbed today, up 2.3% to 89 cents in morning trade. This comes after the company released results of its annual general meeting.

Why is the ikeGPS share price on the move?

The company advised that momentum had picked up, after COVID-19 affected revenues in the first quarter of the 2021 financial year. Orders for Q2 are expected to be approximately $3 million. This is above FY20 run rate levels. Ike achieved this through being granted ‘essential business’ status in the United States, which supports critical infrastructure development and maintenance.

The company concluded an oversubscribed capital raising of $19.7 million, with which it plans to grow sales and delivery capability. Ike will also assess additional acquisition opportunities that may arise.

What does ike do?

Ike operates in the designing, marketing and sale of integrated GPS data capture services, related software and consulting solutions. The group’s key products include ikeGPS and Spike.

ikeGPS is a field data collection product that uses the latest mobile hardware and software to measure and locate utility poles. This in-turn allows accuracy and efficiency for aerial fibre deployments and repairs by users.

Spike is the world’s first laser accurate smartphone measurement tool that captures real time measurements. The software product uses the phone camera, laser-based system and mobile app to determine location, heights, width and distance.

Ike’s software and hardware has been widely used by electric utilities, communications and engineering services in North America. Most notably, ikeGPS is adopted by one of the world’s largest communication companies, AT&T.

What did management say?

Chair Rick Christie was pleased with the company’s performance over the past year. He said:

FY20 was a busy and productive year for our business with continued growth and improvement across key metrics. Our core target market has also continued to develop positively, being tier-1 US communications companies, electric utilities and their engineering service providers. Success within this market is the key long-term value driver for our business.

Mr Christie touched on Ike’s determination to be an industry leader.

In keeping with our ambition to be the pole standard in the North American market and to increase our suite of products to pole owners and users, we also acquired certain assets of PowerLine Technology Inc. (PLT) in the period, one of the leading structural analysis software companies in North America.

Post-acquisition activities have been positive with all major PLT customers renewing their annual software licenses post-acquisition, and IKE Analyze cross-sell opportunities with PLT customers have also emerged. In the future IKE will continue to investigate and pursue growth by further acquisitions of relevant market products and technologies.

Where to from here?

I think the tech company has been making small tailwinds since COVID-19 affected its business in Q1. Ike has been busy optimising its internal processes and positing itself for future growth.

I do like what Ike has to offer and will be adding the ikeGPS share price to my watchlist for now.

More reading

• Why Flight Centre, MoneyMe, Paradigm, & Zip shares are pushing higher today
• Where to invest your Coles (ASX:COL) dividends this week
• The latest 3 ASX stocks that brokers just upgraded to “buy”
• ASX 200 up 0.15%: a2 Milk sinks lower, Bank of Queensland tumbles, CTM’s major acquisition.
• Why a2 Milk, Bank of Queensland, Mesoblast, & Northern Star are dropping lower 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. 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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On Tuesday supermarket giant Coles Group Ltd (ASX: COL) is paying eligible shareholders a 27.5 cents per share final dividend.

If you’re not planning to use these dividends for income and would rather invest them back into the share market, then I would suggest you consider one of the ASX shares listed below.

Here’s why I would buy them:

Appen Ltd (ASX: APX)

If you’re looking to invest the funds into growth shares, then I would suggest you consider Appen. It is the global leader in the development of high-quality, human-annotated training data for machine learning and artificial intelligence. Its team of over 1 million crowd-sourced workers allows the company to collect and label high volumes of image, text, speech, audio, and video data. This data is then used to build and improve artificial intelligence and machine learning models.

Given the growing importance of artificial intelligence and machine learning for businesses and governments, I expect demand for its services to grow strongly in the future. This should put Appen in a position to continue growing its sales and earnings at a strong rate for some time to come.

Rural Funds Group (ASX: RFF)

If you’re interested in generating even more dividends, then I would suggest you look at this agriculture-focused property group. I’m a big fan of Rural Funds due to its very long leases and blue chip tenants. For example, at the end of FY 2020, the company’s 61 properties had a weighted average lease expiry of 10.9 years, with approximately 78% of revenue coming from corporate or listed tenants.

Importantly, these leases include periodic rental increases which are designed to put the company in a position to increase its distribution by 4% each year. This looks set to be the case in FY 2021, with management intending to pay shareholders 11.28 cents per share. Based on the current Rural Funds share price, this works out to be a 4.8% yield.

More reading

• The ASX shares that fund managers were buying this month
• 5 things to watch on the ASX 200 on Tuesday
• How to make money by investing in ASX 200 shares
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• How this small-cap fund manager is shooting the lights out year after year

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool Australia owns shares of Appen Ltd and COLESGROUP DEF SET. 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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Optimism about the upcoming federal budget and interest rate cut is pushing the S&P/ASX 200 Index (Index:^AXJO) higher. But three ASX stocks are getting a further boost from broker upgrades today.

The budget and rate cut are expected to stimulate our COVID-19 stricken economy. These are enough to offset the global risks from a second COVD outbreak and upcoming divisive US election – at least for today.

From trash to treasure

But shareholders in Cleanaway Waste Management Ltd (ASX: CWY) have an extra reason to smile. The CWY share price jumped 1.7% to $2.21 this morning after Credit Suisse upgraded the stock to “outperform” from “neutral”.

The bullish change of heart follows a circa 16% slide in the Cleanaway share price that was triggered by bullying allegations levelled against its chief executive Vik Bansal.

It also didn’t help that Bansal sold more than 70% of his shares in Cleanaway for the first time after five years at the helm.

“The shares are mostly down on fears that the CEO resigns or that the Board is pressured to demand his resignation,” said the broker. “We think neither of these is likely.”

Bansal is highly regarded as the group’s net profit surged by around 300% during his reign. But Credit Suisse thinks the board’s action and the contrition expressed by Bansal means this risk is overplayed.

The broker’s 12-month price target on Cleanaway is $2.45 a share.

Building to a buy

Meanwhile, the Boral Limited (ASX: BLD) share price jumped 1.1% to $4.59 at the time of writing after Citigroup upped its rating to “buy” from “neutral”.

Earnings for the building materials supplier may be at a trough, the broker believes construction markets are rebounding.

“While the path to recovery is mixed, we estimate a ‘mid-cycle’ EBITDA of $956 million (pre AASB-16), and a return to midcycle levels would imply a ~35% rebound from FY20 levels,” said the broker.

“A new management team and upcoming portfolio review in October, could present a catalyst to drive further multiple re-rating from current levels.”

There could be further potential upside from the sale of Boral’s landbank, which could be worth up to $1.23 per share.

Another upside is corporate interest with Seven Group Holdings Ltd (ASX: SVW) buying a close to 20% stake in Boral.

Citi’s price target on the stock $5.30 a share.

Don’t cry over spilled milk

Finally, an upgrade of the A2 Milk Company Ltd (ASX: A2M) share price hasn’t yet helped the infant formula company. The A2M share price tanked another 4% today to $14.59, but Morgans thinks this is a good time to buy the stock.

“While A2M’s trading update was weaker than expected, it shouldn’t come as a big surprise given recent updates from peers,” said Morgans.

“Importantly, A2M believes the issues impacting its business are temporary and is confident strong growth will resume in the 2H21.”

If management is right, earnings could return to double-digit growth by then too.

Morgans lifted its recommendation on the stock to “add” from “hold” with a 12-month price target of $18.14 a share.

More reading

• ASX 200 up 0.15%: a2 Milk sinks lower, Bank of Queensland tumbles, CTM’s major acquisition.
• Why a2 Milk, Bank of Queensland, Mesoblast, & Northern Star are dropping lower today
• Is this the ASX 200 dividend share you can hold into retirement?
• The ASX shares that fund managers were buying this month
• Which shares to buy now with $10,000

Motley Fool contributor Brendon Lau owns shares of Seven Group Holdings Limited. The Motley Fool Australia owns shares of A2 Milk. 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 Tuesday the S&P/ASX 200 Index (ASX: XJO) has given back the majority of its morning gains but is still trading higher. The benchmark index is currently up 0.15% to 5,961.2 points.

Here’s what is happening on the market today:

A2 Milk sinks again.

The A2 Milk Company Ltd (ASX: A2M) share price has continued its slide on Tuesday. This decline has been driven by the infant formula and fresh milk company’s disappointing guidance update on Monday. The company warned that its first half sales would be down in FY 2021 due largely to weakness in the daigou channel. I suspect the fact that management sold millions of dollars worth of shares last month could also be impacting investor sentiment.

Bank of Queensland provisions.

The Bank of Queensland Limited (ASX: BOQ) share price has come under pressure on Tuesday after increasing its COVID-19 provisions. The regional bank’s COVID‐19 related collective provision expense is now expected to be $133 million (pre‐tax) in FY 2020. This is up from an estimate of $71 million previously. In addition to this, a further $11 million (pre‐tax) expense will be recognised for staff underpayments.

Corporate Travel Management’s acquisition.

This morning Corporate Travel Management Ltd (ASX: CTD) revealed that it is raising $375 million via a fully underwritten accelerated non-renounceable entitlement offer. These funds will be used to acquire Travel & Transport for $274.5 million. Travel & Transport is a leading US travel management company which is expected to be highly accretive to earnings. Post-synergies, management is forecasting that it will be approximately 30% earnings per share accretive.

Best and worst performers.

The Janus Henderson Group PLC (ASX: JHG) share price is the best performer on the ASX 200 today with a 4% gain. This is despite there being no news out of the fund manager. The worst performer has been the a2 Milk share price for a second day in a row. Its shares are down over 4% at the time of writing.

More reading

• The latest 3 ASX stocks that brokers just upgraded to “buy”
• Why a2 Milk, Bank of Queensland, Mesoblast, & Northern Star are dropping lower today
• Is this the ASX 200 dividend share you can hold into retirement?
• Corporate Travel Management (ASX:CTD) to raise $375m for Travel & Transport acquisition
• The ASX shares that fund managers were buying this month

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of A2 Milk. 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) has followed the lead of U.S. markets and is pushing higher. At the time of writing the benchmark index is up 0.25% to 5,966.3 points.

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

The A2 Milk Company Ltd (ASX: A2M) share price is down a further 3.5% to $14.66. Investors have been selling the infant formula and fresh milk company’s shares following its disappointing guidance update on Monday. Investors may also be unhappy with management after they sold millions of dollars worth of shares last month.

The Bank of Queensland Limited (ASX: BOQ) share price has sunk 4% to $6.10. The catalyst for this decline was the release of an update which revealed an increase in COVID-19 provisions and news of employee underpayments. The regional bank’s COVID‐19 related collective provision expense is now $133 million (pre‐tax), up from $71 million previously. A further $11 million (pre‐tax) expense will be recognised for underpayments.

The Mesoblast limited (ASX: MSB) share price is down almost 2% to $5.40. This decline appears to be due to profit taking after the biotechnology company’s shares stormed to a record high on Monday. Investors have been buying shares ahead of its priority review by the United States Food and Drug Administration (FDA) on Wednesday. Mesoblast is hoping to gain FDA approval for remestemcel-L as a treatment for paediatric steroid-resistance acute graft versus host disease.

The Northern Star Resources Ltd (ASX: NST) share price has dropped 2% to $13.83. A number of gold miners have come under pressure today despite a small rise in the gold price. Improving investor sentiment may be weighing on the safe haven asset. At the time of writing, the S&P/ASX All Ordinaries Gold index is down 0.4%.

More reading

• Are ASX gold mining shares a buy after the recent selloff? 
• Bank of Queensland (ASX:BOQ) share price on watch after COVID and employee underpayment update
• Where to invest $1,000 into ASX shares today
• Should you buy the dip in the a2 Milk (ASX:A2M) share price?
• Is the Mesoblast (ASX: MSB) share price still good value?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. 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.

The post Why a2 Milk, Bank of Queensland, Mesoblast, & Northern Star are dropping lower today appeared first on Motley Fool Australia.

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