Stocks Climbing Up The ASX Charts – COH, NXT, ECX

  • Apr 16, 2019 AEST
  • Team Kalkine
Stocks Climbing Up The ASX Charts – COH, NXT, ECX

Cochlear Limited

Cochlear Limited (ASX: COH), headquartered in Sydney, Australia provides implantable hearing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. On April 16th, 2019, the COH stock zoomed up by 7.86% to AUD 180.760, with ~ 447,149 shares traded. Cochlear’s current market valuation stands at AUD 9.67 billion and the annual dividend yield is 1.88%.

On April 16th, 2019, the company announced the launch of the Nucleus® Profile™ Plus Series cochlear implant, designed for routine 1.5 and 3 Tesla magnetic resonance imaging scans without the need to remove the internal magnet. The commercial availability of the new technology will commence in Germany with other European countries to follow over the coming months. Subsequently, as Cochlear seeks other regulatory approvals, the Nucleus Profile Plus series implant would be launched in other developed markets as well.

For the half-year ended December 31st, 2018, Cochlear reported sales revenue of $ 711.9 million (up 11%) with the net profit of $ 128.6 million (up 16%). A strong cash flow supported the 11% hike in the interim dividend. The company expected an 8-12% jump (over FY18) in 2019 Net Profit guidance ranging between $265-275 million.

Nextdc Limited

Nextdc Limited (ASX: NXT), based in Brisbane, Australia, offers data center outsourcing solutions, AND connectivity services. With the end of the trading session on April 16th, 2019, the NXT stock closed the market trading at AUD 6.230, up 5.06%, with ~ 2.29 million shares traded.

Recently, Challenger Limited (ASX: CGF) and its related entities increased their shareholding to 6.36% in the company by purchasing around 4,517,894 new ordinary fully paid shares. In addition, Greencape Capital Pty Ltd became a substantial shareholder in February 2019 after buying ~ 18,532,018 ordinary fully paid shares (5.39% interest).

According to Nextdc’s financial results for the half-year ended December 31st, 2018, the revenue was recorded at $ 90.8 million, up 17% as compared to $ 77.5 million in the prior corresponding period (1H18). The underlying EBITDA was up 26% to $ 42.2 million from $ 33.6 million in 1H18. Besides, Nextdc also posted the statutory net loss after tax of $ 3.1 million, down from the net profit of $ 8.4 million in 1H18. As of December 31st, 2018, the company’s liquidity amounted to $ 644 million.

Eclipx Group Limited

The Eclipx Group Limited (ASX: ECX), based in Sydney provides fleet, equipment leasing and management, vehicle rentals and other online auction services. The Group’s current market valuation is AUD 265.3 million with ~ 319.64 million outstanding shares. On April 16th, the ECX stock price settled the market trading at AUD 0.905, soaring by 9.036% with ~ 13.27 million shares traded.

On the same day, Eclipx Group announced that Garry McLennan has advised the Board of his intention to retire from the Company in six months, or as soon as a successor is appointed. Recently, Credit Suisse Holdings (Australia) Limited increased its voting power in the company to 6.12% on the purchase of common stock securities.

Besides, Eclipx Group and McMillan Shakespeare Limited (ASX: MMS) discontinued the Scheme Implementation Agreement (dated November 8th, 2018), effective immediately and released each other of any associated claims. Accordingly, Eclipx has agreed to recompensate McMillan with around $ 8 million as the costs incurred during the period of the scheme so far.


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