Tag: Motley Fool

The Woolworths Group Ltd (ASX: WOW) share price is up 0.45% to $33.51 at the time of writing.

Woolies is part of the S&P/ASX 200 Consumer Staples Index (ASX: XSJ), which is also up 0.63% today. Consumer staples are things people can’t live without, such as food and other essential groceries.

These stocks tend to do well — or at least demonstrate more resilience — during tough markets.

Despite rising inflation and interest rates, people are still going to buy food and other critical supplies.

That means consumer staples businesses are still going to make good money. They also won’t face as big a demand risk as consumer discretionary businesses tend to see in tough economic times.

This is why ASX staples are considered defensive shares and a good way to recession-proof your portfolio.

Buy ASX shares representing the ‘essentials’

Paul Taylor is the portfolio manager and head of Australian equities at Fidelity International.

Writing on Livewire today, Taylor says:

History demonstrates that businesses that provide essential goods and services perform well through inflationary periods and recessions.

By their nature they are ‘essential’ and people continue to buy and consume these products and services regardless of market conditions.

In addition, these types of businesses are in a much better position to pass on higher input costs once again because they are essential. Inflation actually helps them grow.

Examples of essential businesses include supermarkets, consumer staples, healthcare, telecommunications, and utilities.

The ASX supermarket shares

There are three main players among the ASX supermarket shares. They are Woolies, Coles Group Ltd (ASX: COL), and Metcash Limited (ASX: MTS), which owns the community chain IGA.

Woolworths is by far the biggest with a market capitalisation of $40.6 billion. Coles has a market cap of $22.2 billion while Metcash has a market cap of $3.8 billion.

Let’s compare their performance over the year to date and over the past five years.

Woolworths share price outperforms the others long term

The Woolworths share price is down 13% in the year to date and up 55% over five years.

The Coles share price is down 7% in the year to date and up 30% over five years.

The Metcash share price is down 11% in the year to date and up 50% over five years.

The five-year results aren’t staggering but these ASX shares have plenty of investor support. This is because they provide peace of mind, reliability, and stability in hard economic times.

They also pay good dividend yields. Arguably, reliable income streams are another way to recession-proof a portfolio. Food for thought.

According to the ASX website, Woolworths is paying a dividend yield of 2.75% today.

By comparison, Coles is paying a yield of 3.7% and Metcash is paying a yield of 5.5%.

The post Could buying Woolworths shares help ‘recession-proof’ your ASX portfolio? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Experts say income investors should buy these ASX dividend shares
• Better buy: Woolworths or Coles shares?
• How is the Woolworths share price handling the MyDeal cyberattack news?
• Which ASX All Ords shares could perform well in a recession?
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Bronwyn Allen 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 positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/mfQSRvq

The Medibank Private Ltd (ASX: MPL) share price has been put on ice on Wednesday as the company prepares to update the market on its recent “cyber incident”.

The S&P/ASX 200 Index (ASX: XJO) health insurer revealed it had taken some of its systems offline after noticing unusual activity on its network last week.

The Medibank share price lifted 0.14% to trade at $3.505 before being halted at around midday today. The ASX 200 is currently up 0.37% at 6,804 points.

Let’s take a closer look at what might be going on with Medibank on Wednesday.

Medibank share price put in the freezer

The Medibank share price is back in the freezer today as the company prepares to release more details on last week’s cyber incident.

The stock exited a trading halt earlier this week with news the company hadn’t found evidence that customer data had been impacted by the apparent breach.

But that might not be where the story ends. Medibank CEO David Koczkar commented on Monday, saying:

We take the protection of our customers’ data very seriously … We will provide updates is the situation changes.

No doubt Medibank customers will be on the edge of their seats as they await the latest on the event.

The company began an investigation into the incident, which it said was consistent with the precursor to a ransomware event.

Medibank also engaged the Australian Cyber Security Centre to keep it updated and receive information to assist with resolving the incident. Medibank previously said:

As a health company providing health insurance and health services, Medibank holds a range of necessary personal information of customers.

News of the breach came just weeks after a cyberattack on Optus saw hackers make off with the personal data of nearly 10 million Australians.

The Medibank share price will return to trade on the update’s release or on Friday’s open, whichever is soonest.

The post Medibank share price halted ahead of new ‘cyber incident’ update appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why did the Pointsbet share price surge 12% on Wednesday?
• Why is the Novonix share price stuck on standby today?
• CBA shares: Buy, hold, or fold?
• Is it time for ‘cashing in some gains’ on Pilbara Minerals shares?

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 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.

from The Motley Fool Australia https://ift.tt/zXrQv5H

The Webjet Limited (ASX: WEB) share price has been a solid performer on Wednesday.

In afternoon trade, the online travel agent’s shares are up 2% to $5.26.

Why is the Webjet share price rising?

Investors have been buying the company’s shares today after it was the subject of a bullish broker note out of Goldman Sachs.

While Goldman has been bullish on the company for a while, it has become even more positive this week. So much so, the broker has added Webjet’s shares to its coveted conviction list.

According to the note, the broker has put a conviction buy rating and $6.50 price target on its shares.

Based on the current Webjet share price of $5.24, this implies potential upside of 24% for investors over the next 12 months.

What did the broker say?

Goldman believes that Webjet is well-placed for long term growth thanks partly to its Bedbanks business.

It also believes that the valuation of the Webjet share price will start to improve in the near future as the company demonstrates its strong recovery from the pandemic.

Goldman commented:

WEB is a structural beneficiary of the recovery from COVID with favorable exposure to the growing online channel and, more importantly, a strong positioning and improving scale in the niche Bedbanks segment. WEB has also demonstrated strong cash generation as the market recovers and valuation continues to be impacted by macro concerns.

We expect the valuation should start decoupling to reflect the fundamental strength of the company as opposed to being in line with other travel intermediaries in the short term. We are Buy rated with a 12m TP of A$6.50, implying 31% upside and total potential return of 34%, the largest upside across our Consumer services coverage. We add WEB to our ANZ Conviction List.

The post Webjet share price higher on bullish Goldman Sachs note appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Experts say these are the ASX 200 shares to buy next week
• What is the outlook for ASX travel shares for the rest of 2022?
• Broker says Webjet shares are one of its best buy ideas this month
• Did ASX travel shares do well in September?

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 Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/DTY13K7

Azure Minerals Ltd (ASX: AZS)

This ASX mining share is exploding 39.54% at the time of writing to 30 cents per share.

Azure is an ASX lithium mining share and today the company has announced promising assay results.

As my Fool colleague James reported earlier, Azure has revealed further high-grade lithium assay results. They have come from the Andover Project’s pegmatite exploration program in Western Australia’s Pilbara.

The “very significant results” include the “highest lithium grade reported to date,” according to the managing director of Azure, Tony Rovira.

Auking Mining Ltd (ASX: AKN)

This mining share is also enjoying an impressive day on the ASX, up 21% to 12 cents per share.

The company has exited a trading halt that it requested on Monday pending a statement.

All was revealed this morning with Auking announcing it has acquired six mining projects in Tanzania. Four are uranium prospects and two are copper prospects.

Auking also announced a two-stage capital raising to fund the exploration of the six projects.

The first stage involves a completed $1.37 million raising. This comprises the issuance of 13.75 million new shares at 10 cents per share under an existing placement capacity.

The second stage is subject to shareholder approval. It involves approximately 20 million new shares, also at 10 cents per share, to raise another $2 million.

The company said the issue price represents a 17% premium to the ASX mining share’s 30-day volume-weighted average price.

Hawsons Iron Ltd (ASX: HIO)

This ASX mining share is mimicking its peer in also reaching 12 cents per share today, up 19%.

Today the company announced a “strategic review of the proposed Hawsons Iron Project’s development to examine options to scale production up in stages”.

Hawsons Iron managing director Bryan Granzien said the review would examine less expensive options.

This comes after the company announced on Monday that its bankable feasibility study had slowed. The study was analysing the preferred 20 million tonnes per annum (20 Mtpa) option.

Activity had slowed due to unexpected rises in infrastructure capital cost estimates, the company said.

The post 3 ASX mining shares going gangbusters today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Guess which ASX lithium share is rocketing 30% on ‘very significant results’
• Why Adbri, Costa, Hawsons Iron, and Medibank shares are sinking today
• Why did the Hawsons Iron share price just nosedive 62%?
• 3 ASX mining shares rocketing higher on big news

Motley Fool contributor Bronwyn Allen 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.

from The Motley Fool Australia https://ift.tt/w0nxFkl

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Corporate Travel Management Ltd (ASX: CTD)

According to a note out of Goldman Sachs, its analysts have initiated coverage on this corporate travel specialist’s shares with a buy rating and $20.20 price target. The broker highlights that Corporate Travel Management offers strong growth and margin accretion opportunities with improving scale and a consolidating market. The Corporate Travel Management share price is trading at $17.28 this afternoon.

Pilbara Minerals Ltd (ASX: PLS)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $5.70 price target on this lithium miner’s shares. This follows the company’s latest digital auction, which revealed another rise in prices for its spodumene. Macquarie was pleased with the results and is expecting more regular sales on the platform in the near future thanks to the ramp up of the Ngungaju project. The Pilbara Minerals share price is fetching $5.08 today.

Rio Tinto Limited (ASX: RIO)

Analysts at Morgans have retained their add rating and $108.00 price target on this mining giant’s shares. This follows the release of the company’s third quarter update. Although it was a touch disappointed with the update, it believes the market was already pricing in a softer performance. Overall, Morgans stated that the operational weak-points and guidance cuts are disappointing, but they are not material to Rio Tinto’s long-term fundamentals. The Rio Tinto share price is trading at $94.21 on Wednesday.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising
• Why is the Calix share price frozen on Wednesday? (Hint: it involves Pilbara Minerals)
• Why is the Pilbara Minerals share price storming 6% higher on Wednesday?
• 3 ASX 200 companies among the top 10 lithium producers in the world

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 Corporate Travel Management Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/u8SAfHz

It’s been another positive day for the S&P/ASX 200 Index (ASX: XJO) so far this Wednesday. After yesterday’s strong gains, the ASX 200 has put on another 0.33% so far this session, which has lifted the index back above the 6,800 point mark.

But let’s dig a little deeper into these market moves and check out the shares currently at the top of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Wednesday

Liontown Resources Limited (ASX: LTR)

ASX 200 lithium share Liontown is our first cab off the rank today. So far this Wednesday, a notable 13.77 million Liontown shares have been exchanged on the markets. We haven’t heard anything from the company itself.

So we can probably point to the share price performance of Liontown itself to explain this volume. We have seen some noteworthy gains with this company today. Currently, Liontown shares are up a healthy 2.24% at $1.82 a share. But just after lunchtime, Liontown rose as high as $1.80.

Pilbara Minerals Ltd (ASX: PLS)

Pilbara Minerals is next up. Another ASX 200 lithium share, Pilbara has seen a hefty 22.1 shares bought and sold so far on the markets today. Again, we haven’t gotten any news from the company.

However, Pilbara did announce its results from the latest BMX auction yesterday, which could be influencing volumes, as well as the company’s shares this Wednesday.

At present, the Pilbara share price has put on a pleasing 5.83% at $5.08. No doubt this outsized gain is also to thank for so many shares changing hands.

Core Lithium Ltd (ASX: CXO)

Finally this Wednesday we have yet another ASX 200 lithium stock in Core Lithium. During this session, we have seen an eye-catching 34.77 million Core Lithium shares trade hands as it currently stands.

Again, with no fresh news out from the company, it seems that share price gains are the most likely catalyst here. The company is up a whopping 8.63% so far today to $1.38 a share.

As my Fool colleague covered this afternoon, this means that Core Lithium has now gained more than 20% in the past week alone. No wonder so many shares are flying around.

The post Here are the 3 most heavily traded ASX 200 shares on Wednesday appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising
• Why did the Pointsbet share price surge 12% on Wednesday?
• Why is the Calix share price frozen on Wednesday? (Hint: it involves Pilbara Minerals)
• Why has the Core Lithium share price surged 20% so far this week?
• Why is the Pilbara Minerals share price storming 6% higher on Wednesday?

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.

from The Motley Fool Australia https://ift.tt/mc7kgSH

The S&P/ASX 200 Index (ASX: XJO) is on course to record another decent gain on Wednesday. In afternoon trade, the benchmark index is up 0.3% to 6,800.5 points.

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

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 5% to $4.17. Investors have been buying this mineral exploration company’s shares following the release of a positive update on its Julimar project. The release notes that drilling to date supports the interpretation of the Gonneville intrusion (and Julimar mafic-ultramafic Complex) as having a rare chonolith-like geometry.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 9% to $1.39. This is despite there being no news out of the lithium miner today. However, with lithium prices reaching record highs in China this month and a rival reporting further strong prices from its digital auction this week, investors appear excited about Core Lithium’s outlook. Especially given the opening of its Finniss lithium mine this month.

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up 3% to $17.28. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has initiated coverage on the company’s shares with a buy rating and $20.20 price target. Goldman notes that “CTD offers strong growth and margin accretion opportunities with improving scale and a consolidating market.”

NIB Holdings Limited (ASX: NHF)

The NIB share price is up 1.5% to $6.84. Investors have been buying this private health insurer’s shares today after it was the subject of a bullish broker note out of Morgans. According to the note, the broker has upgraded its shares to an add rating with an $8.27 price target.

The post Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why has the Core Lithium share price surged 20% so far this week?
• Why is the Chalice Mining share price up 10% and the best performer on the ASX 200 today?
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 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 recommended Corporate Travel Management Limited and NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/Vf5UhPn

The S&P/ASX 200 Index (ASX: XJO) has had another strong day so far this Wednesday. During this trading session, the ASX 200 has gained a healthy 0.4% at the time of writing, putting it back above 6,800 points. But the Pointsbet Holdings Ltd (ASX: PBH) share price has performed even better.

Pointsbet shares closed at $2.22 each yesterday. But the gaming company opened at $2.23 this morning before rocketing as high as $2.50 a share, a 12.5% gain.

As it currently stands this afternoon, the Pointsbet share price has cooled somewhat from these illustrious heights. But the company is presently still up a robust 3.6% at $2.30 a share.

So what has kicked the Pointsbet share price so comprehensively higher today?

Why did the Pointsbet share price surge 12% this morning?

Well, we can’t be sure, unfortunately. We did get an update from Pointsbet today, released just before market open this morning. But this update only served to inform shareholders that the company is scheduled to hold its 2022 annual general meeting tomorrow. Hardly market-moving stuff, one would assume.

However, we can look at what is happening to some other ASX tech shares for more ideas. Pointsbet isn’t the only ASX tech share performing well today.

We’ve also seen shares like Altium Limited (ASX: ALU), HUB24 Ltd (ASX: HUB), Redbubble Ltd (ASX: RDB), and Brainchip Holdings Ltd (ASX: BRN) see big jumps in valuation as well. Many of these share prices, like Pointsbet’s, also spiked before calming down during the afternoon.

This could be a result of what happened to US tech giant Netflix Inc (NASDAQ: NFLX) shares overnight.

As my Fool colleague Catherine covered this afternoon, Netflix reported its quarterly earnings last night (our time). After some disappointing results earlier in the year, Netflix seemed to delight investors with its latest numbers.

For the third quarter of 2022, the company managed to add an additional 2.41 million net subscribers. It also announced revenues of US$7.93 billion, up 5.9% year on year.

These results saw the Netflix share price rise 14% in after-hours trading, boosting the futures market of the entire NASDAQ Index.

This seems to have given the entire ASX tech sector a shot in the arm today, which could explain the fortunes of the Pointsbet share price this Wednesday.

Whatever the true reason behind the success of the Pointsbet share price today, no doubt investors will be pleased with what they are seeing.

At the current Pointsbet share price, this ASX 200 gaming company has a market capitalisation of $678 million.

 

The post Why did the Pointsbet share price surge 12% on Wednesday? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• What’s going on with Netflix and how is it impacting ASX 200 tech shares today?
• Why is the Novonix share price stuck on standby today?
• CBA shares: Buy, hold, or fold?
• Is it time for ‘cashing in some gains’ on Pilbara Minerals shares?
• 3 ASX 200 companies among the top 10 lithium producers in the world

Motley Fool contributor Sebastian Bowen has positions in Netflix. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Hub24 Ltd, Netflix, Pointsbet Holdings Ltd, and REDBUBBLE FPO. The Motley Fool Australia has positions in and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Netflix and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/eSlCJGN

The Commonwealth Bank of Australia (ASX: CBA) share price has officially pushed past the monumental $100-mark for the first time since August.

All eyes have been on the S&P/ASX 200 Index (ASX: XJO) banking giant this week to see if it could surpass the milestone that it momentarily met on Tuesday.

The CBA share price is trading 0.47% higher at $100.25 at the time of writing.

Meanwhile, the ASX 200 has lifted 0.41% and the S&P/ASX 200 Financials Index (ASX: XFJ) is up 0.25%.

So, what could be in store for the CBA share price now that it has returned to triple digits? Let’s take a look.

Could the CBA share price push higher?

The CBA share price is in the green today and lifting to its highest point in two months.

And once again, it has surpassed the $100-mark. The stock hit triple digits for the first time ever in May 2021 before rocketing to an all-time high of $110.19 in November 2021.

Today, it remains around 10% off that record. But could CBA shares keep climbing to meet – or surpass –their previous high?

If you ask experts, they’d likely tell you not to get your hopes up.

Most are bearish on the CBA share price, with top broker Morgan Stanley tipping it to fall to $85.50, as per Livewire – a potential 14.7% tumble.

Though, not all are so sceptical. Credit Suisse expects it to lift to $102.80, my Fool colleague James reported late last month. The broker is also tipping the banking giant to up its dividends by 10% in financial year 2023.

The latest news likely bolstering hope for the biggest of the big four banks came from its far smaller peer, Bank of Queensland Limited (ASX: BOQ).

On releasing its full-year earnings last week the Queensland-based bank revealed its net interest margin (NIM) had lifted to 1.81% in the final quarter amid rising rates.

It’s therefore presumable that other ASX 200 banks have also seen their NIMs increase, thereby upping their profits.

The post CBA share price smashes through $100-mark for first time in 2 months. What’s next? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• CBA shares: Buy, hold, or fold?
• Is the CBA share price a good value buy in October?
• Top broker says ‘we struggle to see CBA underperforming peers’. Here’s why
• Why are ASX 200 bank shares having such a top run on Thursday?
• Why investors were looking on the bright side for ASX 200 bank 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 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.

from The Motley Fool Australia https://ift.tt/Rj1vF3L

The Calix Ltd (ASX: CXL) share price is frozen after the company requested a trading halt this morning.

The Australian environmental technology company has since announced a global licence agreement with one of the world’s largest building materials companies, Heidelberg Materials (FWB: HEI).

Calix is also launching a $60 million institutional equity raising. It will also run a share purchase plan (SPP) for ordinary ASX investors to raise up to another $20 million.

Calix will use the funds to accelerate the commercialisation of its technology for industrial decarbonisation.

This will include further work with Pilbara Minerals Ltd (ASX: PLS).

Licence the ‘first of its kind’

Calix said in a statement that the technology licence fee is a first-of-a-kind for the industry.

It comprises a royalty floor, a variable component linked to carbon price/value, and a royalty cap linked to costs versus alternative technologies.

As we’ve reported before, a bunch of Australian companies, including miners, have been trialling Calix technology to decarbonise their minerals.

The technology centres around a kiln developed by the Calix founder that can extract substantial amounts of carbon dioxide from metals and minerals. Additionally, Calix can adapt the kiln to work with various materials.

Calix has a 93% owned subsidiary, Leilac, that focuses on the decarbonisation of cement and lime. It’s Leilac that has signed the deal with Heidelberg Materials.

The licence applies to any Heidelberg Materials facility where the Leilac technology is installed.

Heidelberg Materials operates 149 cement plants across five continents.

Calix said:

Cement and lime are amongst the largest industrial contributors to climate change, accounting
for roughly 8% of global CO2 emissions.

The agreement with Heidelberg Materials is a key milestone in Calix’s commercialisation of the Leilac technology, and Calix’s strategy to develop great businesses that deliver positive global impact.

Why is Calix raising capital?

The capital raising will take the form of a fully underwritten institutional placement to raise $60 million. It will comprise the issuance of 13.2 million shares at an issue price of $4.55 per share.

The Calix share price is currently in the freezer at $5.12.

There will also be a non-underwritten SPP to raise up to an additional $20 million.

Calix said the placement and SPP will “accelerate commercialisation of the Calix technology platform and
enable rapid further technology development targeted at significant strategic market opportunities”.

The company elaborated further:

Specifically, proceeds from the Placement will be applied to accelerate commercialisation of Leilac’s cement and lime decarbonisation technology; construct a lithium salt demonstration processing plant in JV with Pilbara Minerals; and fund a FEED study for a ZESTY Green Iron demonstration plant.

Calix has released an investor presentation this morning.

Calix share price snapshot

The Calix share price is down 21.5% year to date.

Over five years, the company’s shares are up more than 700%.

The post Why is the Calix share price frozen on Wednesday? (Hint: it involves Pilbara Minerals) appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why is the Pilbara Minerals share price storming 6% higher on Wednesday?
• Is it time for ‘cashing in some gains’ on Pilbara Minerals shares?
• 3 ASX 200 companies among the top 10 lithium producers in the world
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 3 ASX 200 lithium shares that turned a $10,000 investment into $500,000

Motley Fool contributor Bronwyn Allen 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.

from The Motley Fool Australia https://ift.tt/o9HDWbL