The board of Costa Group, Australia’s largest fruit and vegetable company, has agreed to a revised takeover bid by a consortium led by Paine Schwartz Partners. The deal will be a welcome relief to shareholders concerned about recent poor performance souring the deal.
What Are the Bulls Expecting From Tech?
We have a special essay today from our analyst Charlie Ormond. As tech stocks remain a huge force in the Wall St rallies, we explore some of the hopes that the bulls hold for the AI-linked tech and how ’higher for longer’ interest rates could impact that. Read on…
Shell Admits Australian Unit Hit by Largest Hack of 2023
Shell has announced today that its Australian arm has been affected by the massive MOVEit cybersecurity breach that occurred in June 2023, affecting thousands of companies and dubbed the largest hack of this year.
Myer [ASX:MYR] Sees Sales Soften
Myer met its early August guidance for its July 2022–23 financial year with solid earnings growth but experienced a weak start to the 2023–24 financial year as sales fell off in the second half of the year.
Select Harvest’s [ASX:SHV] Shares Rise as Future Looks Bright
Select Harvests shares are up by 9.2% today as the company announced a positive outlook for next year’s crop of almonds for the company. It’s a godsend for Australia’s second-largest almond grower after two years of harsh growing conditions.
Qantas [ASX:QAN] Shares Face Turbulence as CEO Steps Down Early
Qanas CEO Alan Joyce has stepped down two months early, finishing his 15-year tenure at the top. The decision to leave appears to have been spurred by a series of scandals that have roiled the company in the past few weeks.
SkyCity [ASX:SKC] Shares Plunge as Casino Licence Faces Suspension
Gaming operator SkyCity has seen its share price collapse today after news that it could face suspension of its NZ casinos as regulators respond to a customer complaint alleging failures to identify their gambling addiction as part of its casino host responsibilities.
Magellan [ASX:MFG] Profits Half But Shares Surge Double Digits
Magellan Financial Group saw its profits and revenue dive this year but has still been one of ASX’s best performers today, as the company announced a special dividend of 30 cents per share and promised a reset in its priorities.
Orora [ASX:ORA] Sees Shares Jump by 7.3% After Strong Earnings
Orora packaging saw its shares jump today as it reported solid earnings, which hinted at future growth for the sustainable packaging and cans segments of the company. Meanwhile, larger macroeconomic headwinds slowed wine bottle sales and potentially signalled some trouble ahead.
Seek Shares Plunge as Earnings Disappoint
Seek’s earnings report today disappointed investors with shares down by 6.25% this morning as the company’s earnings and profits fell. Meanwhile, its FY24 guidance signalled uncertain times ahead.
