As reporting season continues this week we have seen many companies provide conservative outlook statements for the year ahead, confirming a backdrop of moderate earnings growth. Among the themes to emerge is companies reinvesting into their businesses to drive growth in a relatively anaemic economic environment. In this week's report... Show More
With reporting season in full swing the flow of company results is picking up and keeping the investment team busy. In this week’s report we provide a brief summary on the key takeaways from Capitol Health and NAB. Show More
On Thursday, diversified financial services company Macquarie Group (ASX: MQG) reaffirmed its earnings guidance at its annual general meeting. The company reported improvements in commodities and global markets trading activity, increased lending in its corporate and asset finance division and greater debt capital markets activity. We believe the short-term outlook... Show More
On Wednesday, Seven Group Holdings’ (ASX: SVW) shares were bolstered after heavy machine maker Caterpillar announced strong sales and revenue figures and a positive outlook statement with its second quarter earnings report in the US. Seven Group owns WesTrac, which is the authorised dealer of Caterpillar equipment in New South... Show More
I recently met with the large US-based activist hedge fund, Elliott Management, that is currently targeting BHP (ASX: BHP). Show More
On Monday, takeover target Fairfax Media Limited (ASX: FXJ) announced that private equity firms TPG and Hellman & Friedman withdrew their bids for the company. We took advantage of the share price weakness to increase our holding in FXJ this week. Show More
On Wednesday, Insurance Australia Group Limited (ASX: IAG) surprised the market with an increased profit forecast due to better than expected claims costs. The company said lower than anticipated claims costs predominantly related to compulsory third party (CTP), liability, professional risk and workers compensation. Following the announcement, IAG shares surged... Show More
CommSec's Tom Piotrowski speaks with WAM Leaders Limited (WLE) Portfolio Manager, Matthew Haupt about: Show More
This week I sat down with Tom Piotrowski from CommSec to discuss Wilson Asset Management’s large cap LIC, WAM Leaders . In addition, I discuss the Australian insurance market, Woolworths and the Amazon threat, local infrastructure and the strengthening US dollar. Show More
I provide an overview of the global and domestic economies and describe how we have positioned the portfolio to take advantage of market opportunities. Show More
My colleague John Ayoub, Senior Equity Analyst, outlines our views on local infrastructure and supermarket exposures. Boral is a key pick in infrastructure and we also believe negativity towards retailers is being overplayed. In this sector our preferred picks are Woolworths and Metcash. Show More
On Tuesday, CSL Limited (ASX: CSL) announced its decision to acquire 80% of the equity of plasma-derived therapies manufacturer, Wuhan Zhong Yuan Rui De Biological Products (Ruide) in China for US $352 million. The transaction will see the company enter the Chinese domestic plasma fractionation market. CSL Limited has demonstrated... Show More
May 2017 marked the first month since September 2016 that the Small Ordinaries Accumulation Index outperformed large caps. Livewire reached out to six small cap specialists to ask: “Is this a turning point”? The consensus seems, with some terms and conditions, to be: “Yes”. Read on for responses from Wilson... Show More
On Thursday, Australia’s largest travel agent Flight Centre Travel Group (ASX: FLT) presented at the Macquarie Conference. The company reaffirmed their FY17 guidance of $300m to $330m underlying profit before tax, down 7-15% on the previous corresponding period, which had been impacted by declining prices in international airfares over the... Show More
Listed Investment Companies (LICs) have enjoyed somewhat of a renaissance ever since the Future of Financial Advice (FOFA) reforms levelled the playing field with unlisted trusts. In the last four years, 42 new LICs have been listed, bringing the total combined market capitalisation for all LICS to $31 billion at... Show More
On Monday, Henderson Group PLC (ASX: HGG) announced an update on its proposed merger with Janus Capital Group. Janus Henderson Investors expects to have a combined market capitalisation of c.US $5.6 billion, with Henderson holding approximately 57% of the merged group and Janus approximately 43%. The Dai-ichi Life Insurance Company,... Show More
On Wednesday, agricultural chemical company Nufarm (ASX: NUF) announced its FY2017 half year results, with revenue up 15% on the previous corresponding period and underlying earnings before interest, tax and amortisation (EBITDA) also up 15% to $128.7 million. Despite tough operating conditions, Nufarm benefitted from new product launches, market share... Show More
On Monday, insurance broking outfit AUB Group (ASX: AUB) announced its half year results, reporting a 12.7% increase in adjusted net profit after tax (Adjusted NPAT) to $14.5 million and a 15% increase in revenue from ordinary activities to $121.8 million. We expect to see continued growth in AUB which... Show More
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On Monday, BlueScope Steel Limited (ASX: BSL) announced its half year results, reporting an underlying net profit after tax (NPAT) of $360 million, a 203% increase on the prior corresponding period. The Company said the strong growth was generated through productivity and cost improvements, sales growth, improved steel spreads and... Show More
On Tuesday, investment management firm Challenger Limited (ASX: CGF) announced its half year results. The Company reported a normalised net profit after tax (NPAT) of $197 million, up 8% on the prior corresponding period and a 12% increase in assets under management to $64.7 billion. The Company has continued to... Show More