ASX Update 21/02/24 – Pre Market Observations
The US had a weak night overnight.
At 7:55am, the futures are suggesting the our market will open down 24 points,
Uranium stocks took a sharp fall overnight. This was the only significant move in the commodities I track.
Today will be another huge day for company reports on the ASX. Here is today’s list but I’m sure there will be plenty more.
Ebos Group (ASX:EBO)
Let’s start with these guys. Usually a solid performer.
Continues to be solid but not spectacular.
Corporate Travel Group ASX:CTD
Oh oh! They’ve released a Profit Guidance announcement to go with their results. Ok, so talk about mixed messages. I take the overall message to be negative sadly.
Positive:
Positive:
More negative than positive:
Back to Positive:
Very negative:
A curious result to say the least or at least a curious explanation. ASX:CTD will fall today, how much is anyone’s guess at this stage. I think management, who have always had a great reputation, will take a serious hit as a result of they way this result has been handled. ASX:CTD is a model stock that has been a winner for some time. However, it will fall out of the model today.
Mount Gibson (ASX:MGX)
They release quarterly results so their shouldn’t be any major surprises in this result.
As suspected, nothing new there. More than half of this company’s market cap is cash at the moment and it increased that cash by $196M in the half! Cheap much?
Let’s keep moving.
Helloworld (ASX:HLO)
Results are out. Let’s see how they’re tracking in light of the ASX:CTD result.
Doesn’t seem to be any sting in the tail there.
Wisetech (ASX:WTC)
These numbers should be strong but it will be more about the outlook with them I think. Last report suggested a weaker outlook due to some investment in the business. Were they just being conservative?
Top line growth looks great. EBITDA growth less as flagged in the previous update.
More positive than the previous guidance which was a downgrade. Looks like things remain firmly on track for them
Codan (ASX:CDA)
Argh. I had written up a post on them but I accidentally closed my browser. Anyway, recovery looks to be on track with another solid half in the books.
Acrow (ASX:ACF)
I almost forgot, I want to have a look this company who reported their results after the market closed last night.
Got to say these guys set themselves some pretty strong forecasts in their last report and I wasn’t sure they could hit them. It appears they have.
One thing to note though is that they have been growing to some degree by acquisition. While the above numbers are impressive, they aren’t quite so on a per share basis as they have been issuing shares along the way.
Nevertheless, they keep doing what they say they’re going to do.
Disclaimer: This information is provided purely for educational purposes. It takes no account of an individual’s personal financial circumstances and hence can in no way constitute financial advice. The above data may be subject to errors or inconsistencies for which the author takes no liability. It is imperative that all investors do their own research or if they need advice, seek it from a qualified financial adviser.
ASX Update 21/02/24