Telstra and TPG announced today that they will not appeal against the decision to block their regional network sharing deal MOCN which has been in flux since it was first penned in February last year.
JB Hi-Fi Sales and Earnings Drop But Shows Resilience
JB Hi-Fi reported record sales of $9.63 billion for the 2022–23 financial year but lower profits as the retail sector faces lower consumer spending and uncertainty as interest rates sting costs and households budgets.
Nick Scali [ASX:NCK] Shares Jump After Record Profits
Furniture company Nick Scali saw its shares surge by 14.5%, trading at $12.25 per share this afternoon as it surprised shareholders with record profits amid slowing consumer spending and high interest rates.
Boral [ASX:BLD] Shares Up 8.1% after Beating Profit Expectations
Construction materials giant Boral posted strong earnings today, beating expectations as its price increases across the board translated into healthy books. Shares were up by 8.12% this afternoon.
AGL [ASX:AGL] Energy Posts $1.26 Billion Loss
AGL Energy has fallen to an annual loss of $1.26 billion as the energy giant begins to wind down its coal power plants. Underlying profits showed signs of health, thanks to higher wholesale energy prices.
InvoCare [ASX:IVC] Agrees to $1.2 Billion Takeover by TPG Capital
In a tense back-and-forth deal, InvoCare has agreed to a $1.2 Billion takeover bid by TPG Capital to purchase the funeral director and cremation company.
PSC Insurance [ASX:PSI] Makes Bid for Ensurance [ASX:ENA]
PSC Insurance has made a $25.2 million bid for Ensurance this morning, with parties signing a binding scheme of implementation deed. The deal would see PSC pay a 40% premium on the share price of Ensurance of 26.8 cents per share.
Myer [ASX:MYR] Shares Plummet 13% Despite Rising Profits
Myer’s shares dropped 13% due to decreased sales in the second half, signalling tough times ahead for retailers as consumers feel the impact of interest rate hikes on their wallets.
Bain Capital to Acquire Estia Health for $838 Million
After five months of pursuit, the board of Estia Health have agreed to the revised offer of $838 million from US private equity firm Bain Capital. The deal, subject to shareholder approval, will see the firm buy Estia for $3.20 per share, a 50% premium from the initial time of the offer.
Block Inc [ASX:SQ2] Shares Tumble on Weaker Outlook
Former Twitter founder Jack Dorsey’s fintech baby Block Inc has seen its shares tumble by 10.16% today, despite beating quarterly earnings and raising its forecasts for the year.
