It was a tough day for Advanced Auto Parts, which fell 9.5% despite rising earnings per share. Photo / 123RF
Keep you informed of the latest market movements, in association with the investment company Jarden
Major US indices were up at the time of writing. The S&P 500 rose 0.2
%, the Nasdaq gained 0.4% and the Dow Jones Industrial Average was unchanged.
The sectors were mostly up, with only two in the red. The main gainers were real estate (+0.7%), consumer discretionary (+0.5%) and communication services (+0.4%). The underperformers were Materials (-0.2%) and Technology (-0.1%).
Illumina was doing well at the time of writing, climbing 8.4%. The company reported earnings per share for the second quarter of 2022 of US$0.57 earlier this month.
Cruise stocks dominated the top performers, with Norwegian Cruise Line Holdings, Royal Caribbean Cruises and Carnival Corporation up 7.9%, 6.5% and 4.8%, respectively. Some cruise lines are expected to start easing Covid-19 restrictions, such as vaccine requirements, in September.
Conversely, Advanced Auto Parts fell 9.5% after the release of second quarter results in which earnings per share rose to US$3.74, narrowly missing the expected result of $3.75. US. The company’s full-year outlook was also adjusted in the report, with inflation and fuel prices driving up costs for the business.
Newell Brands fell 3.6%. The company’s July earnings report showed earnings per share of $0.36 for the first quarter of 2022, with the next earnings release due in October.
Laboratory Corporation of America fell 3.0%. Second-quarter 2022 earnings per share of US$4.95 were released in July.
Pending data on home sales was released, revealing a second consecutive monthly decline in July 2022 of 1.0%. Only one of the four major regions posted an increase in pending sales, with the west up 2.2%.
The typical monthly mortgage payment in June was nearly US$2,000 in June, a 54% increase over the previous year.
Durable goods orders stagnated in July after rising 2.2% in June. Transportation equipment orders fell 0.7%, while civil aircraft orders climbed 14.5%. However, defense aircraft orders fell 49.8%.
Rest of the world
Asian markets continued their decline overnight. The Shanghai Composite fell 1.9%, the Nikkei 0.5% and the Hang Seng 1.2%.
European markets closed on a mixed note. The FTSE fell 0.2%, the DAX gained 0.2% and the CAC fell 0.4%.
Gold traded up a slight 0.1% to US$1,762.7 an ounce, while silver fell 0.5% to US$18.925 an ounce.
WTI crude oil rose 1.3% to US$94.95 a barrel.
Bitcoin gained 0.7% and Ethereum rose 0.2%.
The 10-year US Treasury rate gained five basis points to 3.108% alongside a seven-point slope in the 30-year rate to 3.323%.
The NZX 50 was virtually unchanged yesterday, up 0.1%.
Scales Corporation reversed Tuesday’s performance, with a 3.9% increase in its share price. The company released its half-year results, which showed a net profit after tax of $35.1 million and an increase in its forecast Ebitda (earnings before interest, taxes, depreciation and amortization) to a range of $65 and $75 million. .
Freightways continued its rally with a further 3.4% rise in its share price. The company is up more than 8.0% this week.
Sanford rounded out the top three players with a 2.3% jump.
Heartland Group fell 10.9% to $1.89 per share. The company released its net profit of $95.1 million on Tuesday.
Oceania and Precinct also closed in the red, down 4.0% and 3.2% respectively.
EBOS has published its annual results. The company posted revenue of $11.2 billion, net income of $226.0 million and a dividend for the year of $1.04 per share. EBOS closed up 1.3%.
The ASX 200 gained ground yesterday, improving 0.5% to 6,998.10 points.
Seven sectors closed in the green. Energy rose 2.8%, followed by information technology (+2.2%) and materials (+1.1%). Consumer staples (-1.3%) were among the laggards, along with telecommunications services (-1.0%) and Australia’s property investment sector (-0.7%).
Wisetech Global increased by 12.8%. The software company reported total revenue of A$632.2 million for the 2022 financial year, up 25% from the previous year. Wisetech’s underlying net profit after tax rose 72% to A$181.8 million. The company’s final dividend of AU6.40 cents per share brought total dividends for the financial year 2022 to AU11.15 cents per share, an increase of 71% compared to 2021.
Iluka Resources gained 9.8%. The mineral sands company released its results for the six months to June 30. Compared to the first half of 2021, mineral sands revenues increased by 30% thanks to higher prices. Net profit after tax rose 186% to A$369 million.
Pointsbet Holdings bookmaker improved by 8.7%.
EML payments fell 10.6%. The payment solutions company has been made aware of fraudulent activity related to its open banking business Sentenial. EML was confident that losses would remain below A$7.9 million.
The Nanosonics healthcare business fell 5.6%, a day after reporting results marked by a 56.9% reduction in net profit.
Rounding out the underperformers, cement maker Adbri fell 4.8%.
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All market prices and announcements are from Refinitiv, NZX and ASX.
Jarden advises Heartland Group Holdings Limited in its announced capital raise.
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