Home »Latest ASX News» ASX 200 Morning Report – WTC, APT & Z1P Shares in Focus
The S&P / ASX 200 (ASX: XJO) continued its strong course despite a more mixed performance on Wednesday companies reported, gaining 0.4%.
Outstanding was the ASX technology sector, up 1.9% after WiseTech Global Ltd (ASX: WTC) was up 28.5%. The ASX’s mining sector also rebounded 1.4% as iron ore prices showed signs of stabilizing, propelling Rio Tinto Limited (ASX: RIO) 2.6% higher.
But it was all about WiseTech, with the company trading up to 50% higher during the session before finally being banned from trading by the ASX. Management is forecasting a 25% increase in revenue for FY22 after growing 18% in 2021.
This surprised the market, but especially those who shorted the company who were forced to get into the rally shopping – an all-too-common occurrence in the mid-cap end of the market.
Both Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) reported a cost increase as a common issue on Wednesday.
Afterpay lost another $ 159 million, doubling expectations as the acquisition target increased stock-based payments and took a loss on its financial debt. Afterpay shares closed 1.2% lower.
Zip’s loss rose to $ 652 million as the arms race in BNPL continues. Similar to Afterpay, much of the loss is in share-based compensation for acquisitions and wage replacement.
Zip’s revenue more than doubled to $ 402 million, with total transaction volume up 180% despite the company being a remains large player in a massive addressable market; This shows the incredible opportunity. Zip stocks were down 2.6%.
Pipeline owner APA Group (ASX: APA) delivered a record dividend to yield-hungry investors despite FY21 revenue stagnating at just $ 2.61 billion. </ Profits dropped nearly 99% to $ 3.8 million as the group was forced to write off the value of its Orbost plant as oil and gas prices remained lower than expected. APA shares lost 3.1%.
Nine Entertainment Co Holdings Ltd (ASX: NEC), which also owns The Australian Financial Review, declared its best dividend in five years and benefited from a readership boom and one improved digital strategy.
Revenue grew 8% to $ 2.33 billion, with profit increasing from a significant loss to a profit of $ 184 million.
Subscriber growth fell along with a return in advertising budgets while the Stan streaming service continues to do well. However, the result did not meet expectations, the price of the Nine share fell 9.7%.
According to the latest SPI futures, the ASX 200 will open lower on Thursday. This is despite a slight positive overnight lead in US markets.
The busiest day of the ASX reporting season has arrived, with more than 15 ASX 200 companies reporting. These include companies like Woolworth Group Ltd (ASX: WOW), Qantas Airways Limited (ASX: QAN), and a2 Milk Company Ltd (ASX: A2M). Bookmark the Rask Media ASX Report Season Calendar for the latest information.
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Are you wondering where to invest right now? Do you have cash that is “on the sidelines”? Are you looking for dividend income AND growth but not sure where to start? Rask’s seasoned ASX analyst team just released a full report detailing where we would be investing $ 10,000 right now. Not only are we offering these 11 investment ideas completely FREE, but we have also published a detailed podcast on the report!
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The recent spin-off Endeavor Group Ltd (ASX: EDV) announced its first financial results this morning, with the share price increasing 1.53% fell to $ 7.10.
City Chic Collective Ltd (ASX: CCX) share price is up 10% after announcing its earnings for fiscal year 21 of tremendous growth.
A2 Milk Company Ltd (ASX : A2M) is down 9.18% to $ 6.23 in morning trade after the company announced its FY21 results.
Focus on Woolworths Group Ltd (ASX: WOW) share price after the supermarket giant announced its FY21 results and a major share buyback.
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