ASX flat. Aussie Broadband with bid for Super Loop. Kogan jumps on earnings. Alumina rallies on takeover bid from Alcoa
Take Profit Telix Pharma (TLX) in our balanced portfolio, we will take half our allocation for a 15.8% profit as we see the overall market underperforming in the next couple of weeks.
Sell Take Profit – EBOS Group (EBO). EBO has remained range bound even after their earnings report. Looking to take profit on position if it gets to the top of the recent range around $35
While there has been volatility today with the release of IPD Group (IPG) earnings, the company has beaten on most analysts expectations. IPG should rally to new highs in the near future. Take profit on IPG above $5.50
Upon reviewing PeopleIn’s first-half FY24 earnings, we recommend exiting our position. Despite a record revenue of $602.7 million, the company faced a significant decline in profitability, with EBITDA and NPATA down by 37.7% and 34.3%, respectively. This downturn is attributed to a shift towards lower-margin work and a decrease in permanent recruitment, particularly in the tech sector. Although PeopleIn has implemented cost-saving measures, the current financial challenges, exacerbated by tough market conditions, suggest a prudent move to mitigate risks.
Buy – Judo Capital (JDO). Judo Capital Holdings Limited (JDO) is an Australian bank with a focus on lending to small and medium enterprises (SMEs). Judo’s product offering provides SME Customers with tailored lending solutions for their SME business needs. The bank has 3,758 SME Lending customers and 35,050 Term Deposit customers.
Stocks eked out another closing record high on Friday, with all three Wall Street benchmarks scoring weekly gains, as artificial intelligence stocks had enough steam to keep the rally chugging along.
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