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ASX investors were kept entertained this week as major news from some of the market’s biggest names hit headlines.

There was jaw-dropping news of a major hacking incident, two dramatic takeovers, earnings from some of the biggest banks on the S&P/ASX 200 Index (ASX: XJO), and a significant block sale.

So, without further ado, let’s take a look at some the craziest announcements to hit the ASX this week.

5 major ASX announcements making news this week

Medibank refuses to pay ransom, hackers publish stolen data

The Medibank Private Ltd (ASX: MPL) cyberattack hit headlines in a big way this week.

Cybercriminals who took off with the personal and sensitive information of nearly 10 million Medibank customers last month published a chunk of the stolen data on the dark web on Wednesday.

The now-public data includes names, birth dates, contact information, Medicare numbers, and in some cases, the healthcare-related information of hundreds of the insurer’s current and former customers.

It followed Monday’s news the company had refused to pay a ransom for the information. Medibank expects more data drops to follow.

Former AGL suitor pops $18.4 billion question to Origin

It looks to be takeover season on the ASX, and Origin Energy Ltd (ASX: ORG) is the latest target.

The company announced it would likely accept a $9 per share bid from Brookside Asset Management and MidOcean Energy on Thursday. That is, if the pair can turn their non-binding offer into a full-blown proposal.

Eagle-eyed market watchers might remember that Brookfield was previously chasing AGL Energy Limited (ASX: AGL). It posted an $8.25 per share bid in collaboration with Grok Ventures in March.

Perpetual’s takeover triangle

More dramatic takeover news from Perpetual Limited (ASX: PPT) also made headlines this week.

The company announced it had rejected yet another takeover offer from a consortium made up of BPEA Private Equity Fund VIII and Regal Partners Ltd (ASX: RPL). This time, the consortium offered $33 per share.

While the bid was rejected, it threw a spanner in Perpetual’s ongoing plan to acquire fund manager Pendal Group Ltd (ASX: PDL). The first court hearing for the pair’s scheme of arrangement was expected to go ahead this week.

However, it’s now been delayed at Perpetual’s request in light of the consortium’s takeover bids. That’s despite Pendal initially assuring it would proceed as planned.

Two ASX 200 big four banks post earnings

It’s also been a massive week of news fans of ASX 200 bank shares. We’ve had earnings announcements from both Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB).

Westpac posted a near-$5.7 billion full-year profit on Monday, while NAB’s came in at around $6.9 billion on Wednesday.

The Westpac share price fell 4% on its earnings. That of NAB slipped 1% on its results.

Magellan co-founder sells more than $100 million worth of stock

Finally, investors might have been shocked to hear news Magellan Financial Group Ltd (ASX: MFG) co-founder Hamish Douglass had sold a 13 million-strong parcel of the company’s stock in a block trade this week. The company announced the sale was made for “family diversification purposes”.

Douglass sold the shares for $9.10 apiece – an approximate total of $118 million.

The post 5 of the craziest things making news on the ASX this week appeared first on The Motley Fool Australia.

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More reading

• Elon Musk’s ‘Alan Bond’ moment?
• Why has the NAB share price had such a miserable week so far?
• ‘Use the volatility’: QVE reveals 3 ASX shares it just bought
• Here are the top 10 ASX 200 shares today
• Amidst the ongoing tech stock wreck, value shares are everywhere. There’s just one catch…

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. 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 A2 Milk Company Ltd (ASX: A2M) share price is enjoying another day in the green today. It’s currently up 0.86% to $5.88, taking its gains this week to more than 8%.

The rise comes after the fresh milk and infant formula company announced plans to transform its supply chain in China through the appointment of a new executive.

However, A2 Milk shares are also likely benefitting from gains in the broader market. This follows a strong night on Wall Street, which saw the Nasdaq Composite (NASDAQ: .IXIC) jump more than 7%.

The S&P/ASX 200 Index (ASX: XJO) is currently up 2.45%, while the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) is climbing 1.35%.

Let’s take a look at what A2 Milk announced yesterday.

A2 Milk appoints new chief supply chain officer

A2 Milk has appointed Chopin Zhang — who has extensive experience in the China infant milk formula market — as its new chief supply chain officer.

Zhang’s role will be to lead A2 Milk’s “end-to-end supply chain in all categories and markets”.

He will have the broader strategic view of “[bringing] together the company’s operations and manufacturing teams to transform the company’s supply chain as a key aspect of its refreshed growth strategy”.

The appointment comes after the company lost its key daigou corporate customer this year. ‘Daigou’ refers to people who export luxury goods, including infant formulas, from outside China to customers in China.

A2 Milk’s CEO David Bortolussi charted its path to recovery after this loss, with a key aspect involving “simplifying and delayering [A2 Milk’s] English label infant milk formula distribution network”.

The appointment of Zhang, therefore, looks consistent in this effort.

According to A2 Milk, Zhang has more than 35 years of experience in supply chain management, including “significant experience” in China and New Zealand

His career highlights include working as Yashili’s chief executive officer from 2017 to 2020, where he reportedly transformed the growth and performance of the business in China while also optimising its New Zealand export business.

He previously held the position of operations and supply chain director (Greater China) for Danone.

What did management say?

A2 Milk’s managing director and CEO David Bortolussi commented on the appointment:

We are pleased to appoint Chopin at such an important time as we transform our supply chain to enable further market access, innovation and growth.

This will be achieved through investing in Mataura Valley Milk and acquiring additional manufacturing capability in New Zealand and China with the support of our strategic partners – China National Agriculture Development Group Co (CNADC), China State Farm Agribusiness (CSFA) and China Animal Husbandry Group (CAHG).

Chopin’s expertise in the China infant milk formula industry and experience across New Zealand and China make him the ideal candidate to take on this new strategic role for the company.

A2 Milk share price snapshot

The A2 Milk share price is up around 7% year to date but down around 5% over the past year. Meanwhile, the ASX 200 is down 4% so far in 2022 and 3% over the past 12 months.

The company’s market capitalisation is around $4.32 billion.

The post Can this help A2 Milk pick up the pieces in China? appeared first on The Motley Fool Australia.

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More reading

• Why have Minerals Resources shares hit two new all-time highs this week?
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• Here are the 3 most traded ASX 200 shares on Thursday
• 3 ASX 200 shares shooting the lights out on Thursday

Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. 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 Mineral Resources Limited (ASX: MIN) share price had a fairly lacklustre day during yesterday’s trading session. That was despite the company hitting a new all-time high on Wednesday. But this morning, it has been a different story for this ASX materials share.

The Mineral Resources share price is currently trading at around $82.24 apiece. That performance is trailing the S&P/ASX 200 Index (ASX: XJO), which has boomed an impressive 2.7% so far today to well back over 7,100 points.

But earlier today, Mineral Resources rose as high as $85.56 apiece, which is, you guessed it, yet another new all-time record high for the company. This means that Mineral Resources shares have seen not one but two record highs this week.

This caps off what has been an incredible two years for the company. Back in November 2020, Mineral Resources was a $27 share. Over the subsequent two years, the company has gained almost 200%, including 110% over the past 12 months alone.

So why is this company performing so strongly this week, enough to shoot out two new record highs?

Why does the Mineral Resources share price keep hitting all-time highs?

Well, it’s not entirely clear. There haven’t been any significant announcements from the company itself for a while now, not since the 26 October quarterly activities report.

But this could still be influencing Mineral Resources shares as the company is up around 7% since that report was released. In this report, the company reported reaffirmed its guidance for FY2023, including strong results in its all-important lithium sector.

It is this which could be explaining the successes we have seen with the Mineral Resources share price of late. Lithium shares of all stripes have been surging in value over the past few weeks. Pilbara Minerals Ltd (ASX: PLS) shares are up by almost 15% since 14 October.

Lake Resources N.L. (ASX: LKE) shares are up almost 14% over the same period. And Core Lithium Ltd (ASX: CXO) shares have gained a whopping 43%.

Mineral Resources is a diversified materials share, with interests in iron ore, gas and mining services. But it is the company’s lithium interests that are probably getting investors so excited. Mineral Resources has an ownership stake in two of the country’s largest hard-rock lithium mines: Mt Marion and Wodgina, both in Western Australia.

The company plans on increasing production at Mt Marion alone from 450,000 tonnes of lithium spodumene concentrate per annum to 900,000 tonnes by 2023.

So these lithium operations could explain why investors are jumping into the Mineral Resources share price, alongside other ASX lithium shares, with such enthusiasm this week.

The post Why have Minerals Resources shares hit two new all-time highs this week? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• Here are the 3 most traded ASX 200 shares on Thursday
• Are ASX 200 lithium shares the new recession-proof investment?
• 3 ASX 200 shares shooting the lights out on Thursday

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The Pilbara Minerals Ltd (ASX: PLS) share price is pushing higher on Friday.

In afternoon trade, the lithium miner’s shares are up 3% to $5.47.

Why is the Pilbara Minerals share price pushing higher?

As well as getting a boost from a booming share market, the release of an announcement has given the Pilbara Minerals share price a lift this afternoon.

According to the release, the company has secured a 10-year debt facility from the Australian Government through the Export Finance Australia (EFA) and Northern Australia Infrastructure Facility (NAIF) agencies.

This debt facility will be used to support the expansion of its Pilgangoora Operation in the Pilbara region of Western Australia.

The release reveals that the EFA has approved finance of $125 million and the NAIF has agreed to provide up to $125 million in funding.

Management believes that this funding demonstrates the Australian Government’s willingness to support businesses to play a key role in supplying critical minerals that will aid the global transition towards renewable energy sources.

The facility is subject to final negotiation of terms, completion of detailed financing documents, as well as satisfaction of conditions precedent for financial close and drawdown.

Pilgangoora expansion

The expansion of the Pilgangoora operation is expected to deliver an additional 100,000tpa of spodumene concentrate production at an estimated capital cost of $103 million.

In addition, funds will be used to construct the 5Mtpa crushing and ore sorting facility. This will replace the existing contracted crushing facility and will facilitate future expansions that could ultimately deliver up to 1Mtpa of spodumene concentrate capacity across the entire Pilgangoora Operation at a capital cost of $194 million.

Pilbara Minerals CEO, Dale Henderson, commented:

We are extremely pleased to have received notice of the funding approvals from both EFA and NAIF. The continued support from the Australian Government is a significant endorsement for Pilbara Minerals, an Australian company that is a major player in the growing global lithium supply chain and demonstrates the Australian Government’s commitment to our domestic critical minerals industry.

The post Pilbara Minerals share price lifts on $250 million government loan appeared first on The Motley Fool Australia.

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More reading

• Are ASX 200 lithium shares the new recession-proof investment?
• The Pilbara Minerals share price is up 117% in 6 months. So, does JPMorgan have it wrong?
• Why did ASX lithium shares smash the market on Tuesday?
• Why did the Pilbara Minerals share price have such a cracker day?
• Here are the top 10 ASX 200 shares today  

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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

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

What happened

FAANG stocks Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), Meta Platforms (NASDAQ: META), and Netflix (NASDAQ: NFLX) jumped today after the October Consumer Price Index report showed inflation cooling off faster than expected.

According to the Bureau of Labor Statistics, consumer prices jumped 7.7% year over year in October, below expectations of 7.9%, and the October reading marked the slowest year-over-year growth rates since January. On a monthly basis, inflation was up 0.4%, below expectations of 0.6%.

Core inflation, which excludes more-volatile food and energy prices, was also lower than expected, rising just 0.3% from September and 6.3% over the last year.

The news makes it more likely that the Federal Reserve will slow the pace of its interest rate hikes, leading Treasury yields to plunge while stocks rallied on the news. Rising interest rates make bonds more attractive by comparison, but falling rates tend to attract money out of bonds and into stocks. 

As of 11:20 a.m. ET on Thursday, Alphabet stock was up 7.1%, while Meta had gained 7.2%, and Netflix was 5.6% higher. At the same time, the Nasdaq had jumped 5.8%, and the 10-year Treasury yield fell 7.5% to 3.85%, its lowest point in a month. 

So what

All three of these FAANG stocks are sensitive to consumer spending and, therefore, inflation and interest rates. They also make much of their money from outside the U.S., and falling Treasury yields weakened the dollar, which fell 2% against a basket of currencies this morning.

Alphabet stock has dropped sharply over the past year on concerns over a slowing economy and possible recession. The business’ performance has taken a hit from macroeconomic headwinds, with revenue growth slowing to just 6% in its third quarter, or 11% in constant currency.

Advertising is a cyclical business, and it’s generally one of the first expenses that businesses pull back on when they sense that demand is slowing or they need to cut costs. With inflation falling faster than expected, the bottom of the economic cycle could arrive sooner than investors had thought, which would be good news for Alphabet’s Google since it’s the leading digital advertising business.

Facebook parent Meta Platforms has faced similar headwinds, with its revenue shrinking in its most recent quarter. The company noted macroeconomic challenges in its most recent earnings report, but competition from TikTok, as well as Apple’s ad-targeting restrictions, are also impacting its growth.

In a clear sign of the challenges the company faces, yesterday it laid off 11,000 employees, or 13% of its workforce. Meta has also been spending aggressively on its metaverse project, and investors might be more permissive of that spending if they believe interest rates will soon peak, since the cost of losing that money, measured by the net present value, goes up as interest rates increase.

Lastly, Netflix is a consumer-driven business whose subscription model makes it less sensitive to the macro-level economy than consumer discretionary companies that depend on one-time purchases, like restaurants and travel busineses. However, competition has increased significantly in video streaming, and higher prices are likely to cause some consumers to reconsider their streaming budget.

Netflix also has $14 billion in debt, some of which it’s likely to roll over in the coming years, so lower interest rates are to its advantage there. It’s also launching its advertising tier this month, and a recession could hurt momentum in that new business.

Now what

Of the three of these stocks, Alphabet seems the most sensitive to the macro climate as the digital advertising leader, and its performance — especially for Google Search — is something of a bellwether for the overall economy.

Meta is currently struggling with cash burn from its metaverse project and competition in its ad business. But the stock has become so cheap that a shift in market sentiment would give it some much-needed momentum to recover. 

And Netflix’s future will mostly be determined by the success of its new ad tier and its ability to win against a wide range of streaming options. But the stock would still be better off if the global economy can avoid a recession.

All three stocks should benefit if inflation continues to cool off, but Meta and Netflix face more-immediate challenges that investors will be watching closely.

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

The post Why FAANG stocks were soaring today appeared first on The Motley Fool Australia.

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More reading

• Could this imply light at the end of the tunnel for Appen shares?
• Better big tech stock: Apple vs. Alphabet
• Why Meta Platforms stock (finally) gained ground Tuesday
• Does the Vanguard International Shares ETF contain ‘good’ quality companies?
• Why Alphabet’s earnings disappointment is no reason to panic

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Jeremy Bowman has positions in Meta Platforms, Inc. and Netflix. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Meta Platforms, Inc., and Netflix. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Meta Platforms, Inc., and Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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The Xero Limited (ASX: XRO) share price is storming ahead today.

Xero shares are up 7% and are currently trading at $69.48. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 2.63% today.

Let’s take a look at what could be impacting the Xero share price.

Tech shares rally

Xero is not the only ASX tech share having a top day today. Appen Ltd (ASX: APX) shares are up 4%, while the Megaport Ltd (ASX: MP1) share price is soaring nearly 10%.

ASX tech shares including Xero are following in the footsteps of US counterparts. The NASDAQ-100 Index (NASDAQ: NDX) added $700 billion in value overnight amid US inflation dropping, Bloomberg reported.

The tech-heavy Nasdaq-100 Index soared 7.49% overnight.

Meanwhile, Goldman Sachs has retained a buy rating on the Xero share price with a price target of $115. This implies an upside of nearly 66% based on the share price at the time of writing. Goldman is optimistic about the company’s revenue outlook, especially the average revenue per user (ARPU). Analysts said:

This momentum is continuing, with exit ARPUs in both ANZ & International well above blended ARPU during the half (despite. c.NZ$10mn of Xerocon revenues).

This suggests a strong revenue trajectory into 2H23, aided by further price rises (NA in Nov, Partner in Mar) ongoing transaction growth, partly offset by spot FX.

Today’s positive day for Xero follows the share price sliding 11% yesterday on the back of financial results and the CEO’s departure. Xero’s EBITDA lifted 11% to NZ$108.6 million, however, this was below consensus estimates, my Foolish colleague James reported.

Xero share price snapshot

The Xero share price has fallen nearly 50% in the past year and 51% in the year to date.

For perspective, the ASX 200 has shed 7% in the past year.

Xero has a market capitalisation of more than $10.4 billion based on the current share price.

The post Why are Xero shares rebounding 8% today? appeared first on The Motley Fool Australia.

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More reading

• Move over ASX dividend share traps, a new investing pitfall could now be luring profit seekers
• ASX 200 tech shares jump 6%
• Xero share price could rise almost 80%: Goldman Sachs
• 5 things to watch on the ASX 200 on Friday
• Amidst the ongoing tech stock wreck, value shares are everywhere. There’s just one catch…

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd, MEGAPORT FPO, and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended MEGAPORT FPO. 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 Appen Ltd (ASX: APX) share price is heading in the right direction at last.

On Friday afternoon, the artificial intelligence data services company’s shares are up 5% to $2.55.

However, that doesn’t hide the fact that the struggling tech company’s shares are down 77% year to date prior to today.

Why is the Appen share price rebounding?

Investors have been buying Appen’s shares today following a huge rebound in the tech sector which has seen the S&P/ASX All Technology Index rise an impressive 5.7%.

This has been driven by an incredible night of trade on Wall Street after the latest US inflation data came in softer than expected. This has sparked hopes that inflation has peaked and interest rates won’t need to rise as much as first feared.

Should you invest?

While today’s gain is positive, nothing has changed fundamentally for Appen from this news. So, the same drivers that sent the Appen share price crashing to a multi-year low on Thursday are still in play.

The broker community is overwhelmingly bearish on Appen, with Morgan Stanley predicting further weakness from its shares in the future. At the end of last month, it initiated coverage on Appen with an underweight rating and $2.25 price target.

The broker has fears over rising competition in the industry from the likes of Amazon and Sagemaker. It feels their technology is more sophisticated and sees no competitive advantage in Appen’s platform.

The post Why is the Appen share price storming higher today? appeared first on The Motley Fool Australia.

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More reading

• Could this imply light at the end of the tunnel for Appen shares?
• Appen share price sinks to another multi-year low despite new recruits
• Leading fund manager names the 3 ASX stocks that drove its returns higher in October
• Why are ASX 200 tech shares getting bashed around today?
• Why is the Appen share price smashing the ASX 300 today?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen 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 Scott Phillips.

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The ASX share market is seeing a strong gain today. The S&P/ASX 200 Index (ASX: XJO) is up more than 2.5%. With all of this volatility, investors may be thinking that there are opportunities galore.

While some companies are higher today, I think it’s important to keep in mind that investors should focus on the long-term growth and profit potential of a business.

With interest rates up significantly since the start of the year, it may be unsurprising to see that some businesses are heavily focused on getting to breakeven and profitability.

I think there are at least two good reasons for that. The first is that the fall in share prices means that it’s not a favourable time to issue new shares and raise capital. Therefore, companies may need to manage their cash balances carefully.

Getting to breakeven could also be useful for businesses that want to pay down, or avoid, debt. Debt now costs a lot more with interest rates higher.

Should investors focus on ASX shares cutting costs?

It really depends on what’s being cut.

Being more efficient is a good thing. Slashing an advertising budget may help short-term profitability, but I don’t think it’s good for longer-term sales or growth.

Reducing research and development may help cut costs, but it could hurt the company in the long term if it fails to excite customers or it falls behind a competitor.

Discussing the economic situation on a NABTrade webinar, the Motley Fool’s Scott Phillips was asked which ASX tech shares come to mind when thinking about opportunities for companies to strip out costs and become highly profitable. He replied:

I don’t know about stripping out costs. I think growth remains the best path to value creation for most of these businesses. So I wouldn’t imagine a whole lot of them where just costs out are a long term answer to meaningful value creation. Doesn’t mean they can’t take some costs out of some businesses. We’ve seen Elon and Twitter — so you know, there are some businesses where we can take a whole lot of costs out…

So I think yes, some companies will make money by taking costs out. It’s probably moderate amounts of increased value. But you don’t want to take so much costs out you actually lose the growth opportunity.

I’m worried that companies are trying to be too responsive, in air quotes, to investor concerns right now of ‘I want to see profit. I don’t want to see growth anymore. Show me the profit’. I daresay most of those businesses probably would have been more profitable in 10 years’ time had they continued on the growth path, then pulling in their horns just to satisfy some freaked-out fund managers and investors who want short-term returns.

Phillips suggested that if businesses focus on short-term profit, then it would probably “come at the cost of long-term gains”.

What are some examples?

Well, I don’t have my crystal ball to know how things are going to turn out for some businesses making decisions during this period.

But, I think there are a couple of great examples of companies investing for long-term growth. For example, both Amazon.com (NASDAQ: AMZN) and Xero Limited (ASX: XRO) have prioritised putting money generated back into the business to grow further.

Not only does investing give Amazon and Xero the chance to earn returns on that investment, but it also reduces their taxes because the spending significantly reduces their taxable profit. If they weren’t investing so much, they would be much more profitable.

Amazon is now a major global power in e-commerce and cloud computing. Xero has become one of the world leaders in cloud accounting software.

But, sometimes a business doesn’t invest and it can end up being a lost opportunity. In my opinion, most of the 2010s were a missed opportunity for Telstra Group Ltd (ASX: TLS) to invest in other services, such as cybersecurity as one example. But, it seemed more focused on paying large dividends to shareholders rather than re-investing that cash.

Telstra’s profit and dividends sank after it lost control of the cable infrastructure following the sale to the NBN. But, Telstra is now investing, so hopefully that will pay off for the telco.

The post Move over ASX dividend share traps, a new investing pitfall could now be luring profit seekers appeared first on The Motley Fool Australia.

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More reading

• ASX 200 tech shares jump 6%
• Xero share price could rise almost 80%: Goldman Sachs
• 5 things to watch on the ASX 200 on Friday
• Why Amazon stock finished lower today
• Amidst the ongoing tech stock wreck, value shares are everywhere. There’s just one catch…

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon and Xero. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited and Xero. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is soaring to a five-month high this morning after the latest US inflation figures saw Wall Street soar overnight, and Aussie tech shares are among the market’s leaders.

The ASX 200 is currently up 2.75% at 7,155.2 points. At the same time, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is up a whopping 3.99%.

Market watchers likely won’t be surprised to learn, therefore, that the Nasdaq Composite Index (NASDAQ: .IXIC) leapt 7.3% overnight.

Meanwhile, the Dow Jones Industrial Average Index (DJX: .DJI) rose 3.7% and the S&P 500 Index (SP: .INX) soared 5.5%.

Their gains followed news the US consumer price index lifted 0.4% in October and 7.7% over the last 12 months. That was a softer result than broadly expected and could lead the US Federal Reserve to put the brakes on interest rate hikes.

So, which ASX 200 tech shares are making the most of Friday’s surge? Keep reading to find out.

3 ASX 200 tech shares leaping 10% on Friday

It’s a good day for many of the market’s favourite ASX 200 tech stocks, with the WiseTech Global Ltd (ASX: WTC) share price among those leading the way.

The logistics software provider’s stock has gained 11.29% at the time of writing, soaring to trade at $58.34.

The Block Inc (ASX: SQ2) share price is also posting a notable surge on Friday. Though, the company’s Aussie listing hasn’t quite left the gates with the same gusto as its New York-listed counterpart.

The Block share price is up 11.62% on the ASX right now, trading at $101.99. That marks a near-four week high. However, over on Wall Street, the Block Inc (NYSE: SQ) share price rocketed 17.8% overnight to close Thursday’s session at US$67.40.

Finally, the Megaport Ltd (ASX: MP1) share price is making the most of today’s excitement. It’s lifting 9.67% right now, trading at $5.90.

The post 3 ASX 200 tech shares booming 10% or more on Friday appeared first on The Motley Fool Australia.

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More reading

• ASX 200 tech shares jump 6%
• Why Block, Lake Resources, Pendal, and Xero shares are dropping today
• Why is the Block share price plunging 6% today?
• Top brokers name 3 ASX shares to buy today
• Here are the top 10 ASX 200 shares today  

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., MEGAPORT FPO, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Block, Inc. and WiseTech Global. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re looking for an easy way to invest your hard-earned money, then exchange traded funds (ETFs) could be the way to do it.

But which ETFs might be top options right now? Listed below are three quality ETFs that could be worth considering:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first ETF to look at is the BetaShares Asia Technology Tigers ETF. This higher risk ETF gives investors exposure to the best tech stocks in the Asian market. This means you’ll be buying well-known companies such as ecommerce giant Alibaba, search engine company Baidu, and WeChat owner Tencent.

BetaShares highlights that the technology sector is underrepresented in the Australian share market and may also provide a complement for investors with exposure to U.S. based technology companies. However, it is worth noting that regulatory concerns in China have been weighing on the shares in the fund and could continue doing so in the future.

VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

Another ETF that could be a quality option is the VanEck Vectors Morningstar Wide Moat ETF. When Warren Buffett looks for an investment, he has a preference for companies with sustainable competitive advantages or moats. This means that if you want to invest like Buffett, then this ETF would be an easy way to replicate his strategy.

The ETF currently contains approximately 50 attractively priced companies with sustainable competitive advantages. These include the likes of Alphabet, Boeing, Kellogg Co, Meta Platforms, and Walt Disney.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

A final ETF for ASX investors to look at is the VanEck Vectors Video Gaming and eSports ETF. This ETF gives investors easy access to a global video game market estimated to comprise 2.7 billion active gamers.

And with spending in the market expected to continue to grow strongly in the coming years, the companies included in this fund appear well-placed to benefit. This includes game developers such as Electronic Arts, Nintendo, Nvidia, Roblox, and Take-Two.

The post 3 quality ETFs for ASX investors to buy this month appeared first on The Motley Fool Australia.

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More reading

• 3 ETFs for ASX investors to buy right now
• 2 of the best ETFs for ASX investors to buy next week
• I think these 2 ASX ETFs are unmissable buys in this sell-off
• 2 high quality ETFs for ASX investors in November
• Here are 3 ASX ETFs for smart investors

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BetaShares Asia Technology Tigers ETF, VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF, and VanEck Vectors Morningstar Wide Moat ETF. 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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