At the time when the Australian Stock Exchange is trading in the negative territory, the following stocks have been closely watched by market participants as they closed on the opposite sides of the ASX Ledger:
Woolworths Group Limited
Australia's largest supermarket chain, Woolworths Group Limited (ASX: WOW) operates 995 stores across Australia. The Group was founded in 1924 and operates through New Zealand Supermarkets, BIGW, Australian Food and Petrol, Endeavour Drinks segment and Hotels.
The Group recently announced third-quarter sales results for the period ending 31st March. The company reported an improvement in sales momentum across its key priorities. The Easter-adjusted sales growth was recorded as: Australian Food (4.7%), Endeavour Drinks (6.4%), New Zealand Food (2.9%), BIG W (5.6%), Hotels (2.7%) and Online segment (35.1%).
Earlier in April, the Group decided to carry out $1.7 billion off-market share buyback to return shareholders’ funds and the buyback was anticipated to be highly oversubscribed by pensioners. Last month, the Group’s former chairman Mr John Dahlsen also decided to provide firm support to “Project Refresh” to bring a change in the supply chain section for fresh fruits and vegetables.
WOW closed the day’s session at AUD 32.630 (8th May 2019), up by 0.87 per cent relative to previous day’s closing price of AUD 32.350. The stock has provided a YTD return of 10.98% till date to its investors.
TPG Telecom Limited
Founded in 1986 as Total Peripherals Group, TPG Telecom Limited (ASX: TPM) is engaged in providing communication services to residential users, SMEs, government, enterprise blue chip companies and wholesale customers. The company owns 400 DSLAM empowered telephone exchanges throughout Australia. The company is headquartered in North Ryde, Australia.
The company released their first half Results for FY 2019 on 19th March 2019, declaring the revenue of $1,235.8 million, EBITDA of $420 million, Net Profit After Tax of $46.9 million and EPS of 5.1 cps during the first half of FY19. The company was rated 1st for ACCC's February 2019 Measuring Broadband Australia Report.
In an update release on 29th Jan 2019, the company notified that it has decided to cease the rollout of its mobile network in Australia. The company also highlighted the accounting implications of ceasing the network in an update on 27th Feb 2019. The decision was taken following the Government’s announcement of prohibiting the use of Huawei equipment in 5G networks.
TPM improved mid-day, reaching the high of AUD 7.260 in expectation of a positive ruling from the ACCC in relation to its proposed merger with Vodafone Australia. However, as per the announcement released by the company later today, ACCC has opposed the proposed merger and the stock finally settled 13.11% lower at AUD 6.100 (on 8th May 2019) relative to yesterday’s closing price. The 52-week high and low value of the company’s stock stood at AUD 9.650 and AUD 5.030 respectively with its market capitalisation being AUD 6.51 billion. The company’s stock has generated a YTD return of 11.61 per cent.
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.