10 ASX stocks that have geared up in May till date

10 ASX stocks that have geared up in May till date

Australia has been one of the few countries that have managed to keep the COVID-19 cases low. With prompt actions and stringent measures, the government has been able to control the rapid spread of infectious disease.

As on 11 May 2020, the Australian government had confirmed 6,948 cases with 97 reported deaths.

   

The above chart shows the low number of new cases of COVID-19 in the last few weeks. The curb in the spread has led the government to start planning on gettings things back on track. Prime Minister Scott Morrison in his media release on 12 May 2020, highlighted on getting people back to work and get the economy moving again.

The promising data on coronavirus cases and the optimism shown by the government has had a positive impact on most of the sectors on ASX. Many companies within these sectors have started gearing up.

In this article, we have selected a few stocks from the ASX 200 whose share price has shown improvement during May 2020 till date.

Afterpay Limited

Afterpay Limited (ASX:APT) stock has shown a substantial movement in its share price from $29.16 on 1 May 2020 to $41.68 on 12 May 2020, an improvement of ~43%.  APT has a market cap of $11.26 billion and approximately 266.97 million outstanding shares.

Big News in May: Tencent became a substantial holder in APT

On 1 May 2020, Tencent Holdings Limited, a Hong Kong Stock Exchange-listed company became a substantial shareholder in Afterpay.

Altium Limited

The shares of Altium Limited (ASX:ALU) which closed at $33.030 on 1 May 2020 reached $35.340 on 12 May 2020, an increase of 6.99%. ALU has a market cap of $4.82 billion and approximately 130.97 million outstanding shares.

Key Update in May: ALU expects headwinds in the present situation

On 12 May 2020, Altium Limited provided business and market update, and it highlighted that the business expects some headwinds due to continuation of restrictions & lockdown related to COVID-19.

At present, the company is working towards robust sales and business performance in this challenging COVID-19 situation.

WiseTech Global Limited

The shares of WiseTech Global Limited (ASX:WTC) which closed at $17.82 on 1 May 2020, reached $19.390 on 12 May 2020, an increase of 8.81%. WTC has a market cap of $6.32 billion and approximately 318.39 million outstanding shares.

Recent News: WTC provided Business Update and Reaffirmed its Guidance

  • FY2020 revenue would range between $420 million to $450 million.
  • EBITDA would be in between $114 million to $132 million.
  • WTC’s balance sheet is strong with robust liquidity and cash generation.
  • Its people and platform are both operational.

NEXTDC Limited

The shares of NEXTDC Limited (ASX:NXT), which closed at $8.95 on 1 May 2020, reached $9.440 by the market close on 12 May 2020, an increase of 5.47%. NXT has a market cap of $4.35 billion and approximately 455.91 million outstanding shares.

Recent Updates:

Completion of SPP:

On 5 May 2020, NXT Completed its SPP and was able to raise $191 million.

Material Customer Contract Wins:

On 1 May 2020, NXT announced that contracted commitments at Victorian data centre facilities improved by ~6MW to more than 27MW. With the customer pledges along with the expansion opportunities of data centres at Victoria, the total capacity is currently ~60 MW.

Beach Energy Limited

The shares of Beach Energy Limited (ASX:BPT) which closed at $1.445 on 1 May 2020 reached $1.495 by the market close on 12 May 2020, an increase of 3.46%.  BPT has a market cap of $3.52 billion and approximately 2.28 billion outstanding shares.

Recent Update: Macquarie Australia Conference

On 7 May 2020, Beach Energy released its Macquarie Australia Conference and updated on its COVID-19 response plan, its financial position, FY20 Estimated Product Mix, and business highlights.

Viva Energy Group Limited

The shares of Viva Energy Group Limited (ASX:VEA) which closed at $1.385 on 1 May 2020 reached $1.480 by the market close on 12 May 2020, an increase of 6.86%. VEA has a market cap of $2.92 billion and approximately 1.94 billion outstanding shares.

Recent Update: Macquarie Australia Conference

On 7 May 2020, Viva Energy Group Limited released its Macquarie Australia Conference presentation and discussed its:

  • Diversified earnings with exposure to growth sectors.
  • Its progress on key strategic priorities.
  • 1QFY2020 and April 2020 performance.
  • COVID-19 Impacts on its business and is 2020 priorities.

Domain Holdings Australia Limited

The shares of Domain Holdings Australia Limited (ASX:DHG) which closed at $2.57 on 1 May 2020 reached $2.930 by the market close on 12 May 2020, an increase of 14.01%. DHG has a market cap of $1.71 billion and approximately 584.26 million outstanding shares.

Recent Update: Macquarie Australia Conference

On 5 May 2020, Domain Holdings Australia Limited released its Macquarie Australia Conference 2020 presentation and highlighted its trading update for March FY2020 quarter ended 31 March 2020.

  • Reported increase in the revenue by 3% for the quarter and 15% during March 2020.
  • Total revenue increase by 1% during the quarter and 10% during March 2020.

 

Nine Entertainment Co. Holdings Limited

The shares of Nine Entertainment Co. Holdings Limited (ASX:NEC) which closed at $1.37 on 1 May 2020 reached $1.405 by the market close on 12 May 2020, an increase of 2.55%. NEC has a market cap of $2.47 billion and approximately 1.71 billion outstanding shares.

Recent Updates:

  • Nine Entertainment Co. Holdings terminated further engagement with NZME related to the acquisition of Stuff. NZME, however, believes the two parties have binding negotiation period and that exclusivity termination is invalid.
  • On 5 May 2020, NEC released its Macquarie Australia Conference 2020 presentation and updated on its position in all the key markets, trading update, and the cost-cutting initiatives across businesses.

Worley Limited

The shares of Worley Limited (ASX:WOR) which closed at $8.28 on 1 May 2020 reached $8.470 by the market close on 12 May 2020, an increase of 2.29%. WOR has a market cap of $4.58 billion and approximately 520.39 million outstanding shares.

Recent Update: Macquarie Australia Conference

On 6 May 2020, Worley Limited released its Macquarie Australia Conference presentation and discussed its COVID-19 response, its liquidity position, its diversified business and its response to the present market dynamics.

Sonic Healthcare Limited

The shares of Sonic Healthcare Limited (ASX:SHL) which closed at $26.300 on 1 May 2020 reached $26.540 by the market close on 12 May 2020, an increase of 0.91%. SHL has a market cap of $12.57 billion and approximately 475.05 million outstanding shares.

Recent Update: Partners with the Australian Government for COVID-19 Testing:

On 30 April 2020, Sonic Healthcare Limited announced that it won a contract from the Australian government to offer a pathology service for quick sample collection & COVID-19 testing in aged care facilities (residential).

 


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