AFTER THE OPEN
10:13am
So far the market is loving the The A2 Milk Company (ASX:A2M) numbers and their slight upgrade.
Boral (ASX:BLD) is up a little on their takeover offer as you would expect.
Cochlear (ASX:COH) had already flagged their result to the market prior to today so you wouldn’t expect there to be too many surprises.
Imdex (ASX:IMD) is the star. Having a had a bit more of a read of their announcement, it seems the acquisition they made is doing very well for them. They seem quite optimistic although I didn’t see any numbers in their outlook.
Lend Lease (ASX:LLC) clearly continues to disappoint. How the mighty have fallen.
Nuix (ASX:NXL) delivered pretty much what I they said they would but the ramp up in price prior to results showed the market was expecting more. It’s a volatile stock though so it could finish anywhere today.
Reliance Worldwide Corporation (ASX:RWC) must have put out a good set of numbers. It’s a very up and down kind of stock though.
BEFORE THE OPEN
The first thing I do every morning is look at the announcements and put any stocks that look of interest into a watchlist.
Takeover for Boral (ASX:BLD) from Seven Group (ASX:SVW). ASX:BLD has been having a great run of late and now shareholders will get a nice bonus to top of that today.
The A2 Milk Company (ASX:A2M) and ASX:NXL are two stocks there that I’m particularly interested in.
The A2 Milk Company (ASX:A2M) 1HFY24 Results
https://a2milk.com.au/
The A2 Milk Company (ASX:A2M) chart has been in a down trend since the last quarter of 2021. Incredibly it hit $20 at one stage. Recently it has caught my eye as the share price has been trying to stage a rally coming into results. Bets have been placed that this result will a good one.
Drum roll …
Looks like things are moving in the right direction for The A2 Milk Company (ASX:A2M). A slight increase in guidance never hurts. Exciting set of results? Let’s see but they’re certainly not model portfolio sort of numbers.
Nuix (ASX:NXL) 1HFY24 Results
https://www.nuix.com/
Let’s move on to Nuix (ASX:NXL). They disappointed the market back in January with an update on what they expected their results would be today. The shares fell but have since recovered into the official result announced today. They had been going along nicely prior to that.
The Statutory numbers are due to one-off legal expenses. The market will look through those.
The $199.6 ACV is above the top end of guidance given in January of 196-199M.
Outlook is positive while rather vague.
The above numbers aren’t amazing but need to be seen in context. It wasn’t that long ago that this stock was over $10. Being a tech stock, its valuation lags that of many of its peers. From a growth perspective, this stock would have to be considered middle of the road. From a value perspective it may be more attractive. From what I understand about their products, the company has significant potential.
Imdex (ASX:IMD) 1HFY24 Results
https://www.imdexlimited.com/
Imdex (ASX:IMD) is another company with results out today. Looking at the chart the market isn’t too excited about the prospects for this company.
These numbers look ok. There’s a big one-off item in there that has hurt their statutory profit.
This shows the importance of looking beyond the headlines. This company has increased their revenues impressively. However on closer inspection, it looks like the may have made an acquisition and the revenues have only increase because of the addition from the new business. That could still be ok but the next step would be to look at if they issued any shares for the acquisition and if they did determine what the increase in revenues are on a per share basis.
All of the numbers in my database reduce the figures provided in the company reports back to a per share basis. It’s the only way to know if a company is increasing value for shareholders or not. Imdex (ASX:IMD) does have a history of issuing shares.
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.
Monday 19/2/24