February 2024

Investors, especially on Wall Street and later today in Australia, received the rude shock they deserved from the slight fall in US Consumer Price Inflation in January. US headline inflation slowed to 3.1% in January, down from 3.4% in December. It was a smaller-than-expected drop, challenging market expectations that the Federal Reserve will begin cutting […]

So much for all the bullish forecasts about the Commonwealth Bank’s (ASX:CBA) interim result. Yes, a cash profit of just over $5 billion was reported, but the underlying data—so beloved by analysts looking for a ‘good story’—wasn’t pretty. The bank’s statutory profit showed a larger 8% fall to $4.837 billion. The weak result, analysts had

US stocks dropped on Tuesday after hotter-than-expected inflation data for January spiked Treasury yields and raised doubts that the Federal Reserve would be able to cut rates several times this year, a key part of the bull case for the equity market. The Dow Jones Industrial Average lost 524.63 points, or 1.35 per cent, to

Australian shares experienced a second consecutive decline, driven by CSL’s disappointing outlook, while investors awaited US inflation data for insights into potential Federal Reserve interest rate adjustments. Notable movements occurred during the reporting season, particularly in healthcare where CSL’s weaker outlook overshadowed profit growth, causing the benchmark to close 0.2 percent lower at 7603.6. Consumer-related

Shares of the online employment giant, Seek (ASX:SEK), took a dive of 10% during early trading as investors swiftly expressed disapproval of its interim results reflecting the repercussions of a sluggish labour market. However, as Tuesday’s session unfolded, the initial loss mitigated to around 4% as investors and analysts revisited the report’s intricacies, finding it

Novonix Limited (ASX:NVX) CEO Dr Chris Burns discusses the significance of the company’s binding offtake agreement with Panasonic. Paul Sanger: I’m Paul Sanger for the Finance News Network, and today I am talking with NOVONIX (ASX:NVX). They have a market cap of around $335m. NOVONIX provides revolutionary solutions that enable the adoption of clean energy

Blood products behemoth CSL (ASX:CSL) has demonstrated resilience in the face of Monday’s setback concerning a potential blockbuster drug trial, showcasing an impressive 11% enhancement in underlying net earnings to $US2.017 billion ($A3.11 billion). Directors have concurrently exhibited confidence in the company’s trajectory by augmenting the interim dividend to $US1.19 per share, a notable increase

Macquarie Group (ASX:MQG), renowned for its ‘annuity’ style businesses in asset management, finds itself grappling with a significant decline in profit for the fiscal year ending March 31. Despite its bold assertions, the financial juggernaut’s latest update paints a sobering picture, with profit figures trailing considerably behind the previous year’s performance. In its customary third-quarter

The recent lackluster performance of JB Hi-Fi, marked by weak profits and dividend cuts, has drawn attention to the resilience and success of smaller players in the retail sector. Two notable standouts, Temple & Webster and Breville, have defied expectations with solid financial reports despite challenging economic conditions. Breville’s Resilience in the Face of Macro

In a recent report by the National Australia Bank (ASX:NAB), a noticeable shift in business conditions signals a softer beginning to 2024 for many sectors. The latest monthly business survey reveals a dip in conditions, marking a departure from two years of above-average performance and raising concerns about the economic landscape moving forward. According to