Stocks that remained on the investors’ radar today

Summary 

  • LiveTiles (ASX:LVT) posts record cash receipts and strong revenue results
  • Spark Infrastructure (ASX:SKI) scales to top of ASX on revised bid offer from suitors
  • SRJ Technologies Group (ASX:SRJ) rises on contract win

The S&P/ASX200 closed lower Wednesday, dropping 52.10 points or 0.70% to 7,379.30 after setting a new 52-week high. Over the last five days, the index has gained 0.97% and is currently 0.92% off of its 52-week high.

Sectors ended mixed. 10 of 11 sectors were lower along with the S&P/ASX 200 Index. A-REIT was the best performing sector, gaining 0.83% and 1.21% for the past five days.

Now let us look at some stocks that remained in the news today for various reasons:

IGO Limited (ASX:IGO) posts strong results in Q4-21

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IGO Limited (ASX:IGO), the mining and exploration company, shared updates for June quarter (Q4-21). It has completed the 2021 Financial Year (FY21) with strong production and financial results. Production numbers at IGO’s Nova beat guidance for Q4-21 and for FY21. Nickel, copper and cobalt production were above guidance top end.

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Sales revenue for Q4-21 was up 44% over prior quarter, driven by higher nickel and copper concentrate sales volumes and positive commodity price movements. EBITDA grew 50% q-o-q to AU$139.5 million. Net profit after tax (NPAT) was AU$452.6 million, including pre-tax gain on the divestment of Tropicana.

During Q4-21, IGO also completed the Tropicana divestment to Regis Resources Ltd (Regis). Results for Tropicana up to 31 May 2021 are included in IGO’s reporting for this period. It also completed the formation of a new lithium joint venture (JV) with Tianqi Lithium Corporation (Tianqi). In addition, after Q4-21 end, an agreement was finalised with Creasy Group to acquire Silver Knight.

Total cash at the end of June 2021 was AU$528.5 million.

IGO has also appointed Michael Nossal as chairperson with effect from 1 July 2021.

IGO shares closed 1.763% down at AU$8.920 today.

Spark Infrastructure (ASX:SKI) scales to top of ASX on revised bid offer from suitors

Australia's Spark Infrastructure Group (ASX:SKI) jumped as much as 6.9% to AU$2.78, its biggest intraday percentage jump since 15 July.

The electricity infrastructure investor said a consortium including private-equity firm KKR & Co has hiked its buyout offer price to AU$2.95 per share, up from previous offer of AU$2.80 apiece.

Revised bid price values Spark at AU$5.13 billion and represents a premium of 13.5% to its last close.

Spark has agreed to grant the consortium - which also includes Ontario Teachers' Pension Plan Board - access to its books following the revised bid.

SKI has said that it is in the interests of its securityholders to engage further with the consortium. Spark earlier in the month had rejected the consortium's offer saying it undervalued the firm.

The stock closed 5.384% higher at AU$2.740 per share.

ALS Limited (ASX:ALQ) jumps most in over five weeks on stake buy in European pharma business

Testing services provider ALS Limited (ASX: ALQ) gained as much as 3.9% to AU$13.03, its biggest intraday percentage jump since 22 June 2021.

The Company said it has acquired an initial 49% stake in Germany-based pharmaceutical testing firm NUVISAN for about 145 million euros.

Acquisition expands ALS Ltd's pharmaceutical offering in the drug development, research and development, as well as its footprint in Europe.

ALS stock has hit its highest since 6 July and is among the top three gainers in the ASX 200 benchmark index AXJO.

ALQ closed 0.637% up at AU$12.620 per share today.

Life360 (ASX:360) records 'milestone quarter' on vaccine rollout, shares gain on ASX

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Shares of San Francisco-based Life360 Inc (ASX:360) gained as much as 4.2% to AU$8.25, their biggest intraday percentage gain since 21 July 2021.

The family app has recorded 32.3 million global monthly active users (MAU) for the quarter, up 15% from the prior quarter, driven by viral surge from its teen audience.

The Company, however, has posted quarterly underlying EBITDA loss of AU$3.3 million, while revenue jumped 28% year-on-year to AU$25 million.

This was a milestone quarter for Life360, with growth accelerating as the benefits of the vaccine rollout were felt, particularly in the United States, informed Life360.

The stock is up more than double this year and closed 1.010% higher at AU$8.00 per share today.

National Tyre & Wheel (ASX:NTD) hits near three-year high on forecast raise

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Tyre maker firm National Tyre & Wheel Limited (ASX:NTD) shares gained as much as 3.9% to AU$1.21, their highest since 30 August 2018.

The Company stated it has now expected FY21 operating EBITDA to be AU$35.9 million, up from previous forecast of between AU$31 million and AU$33 million.

It expected basic earnings per share of 18 cents for FY21, above previous view of 17 cents, sees FY22 operating EBITDA slightly lower in the range of AU$31 million to AU$33 million.

The stock has posted its biggest intraday percentage gain since 6 July 2021 and is on track to rise for a fourth straight session.

NTD closed 0.429% at AU$1.170 per share today.

Mader Group (ASX:MAD) hits over two-month high on upbeat Q4

Shares of Mader Group Limited (ASX:MAD) rose as much as 2.1% to AU$0.965, their highest since 5 May 2021. 

The business support services provider posted a 24% rise in Q4 revenue to AU$86.4 million, driven by high demand.

The Company said quarterly EBITDA rose over 36% to AU$11.5 million. 

The stock has marked biggest intraday percentage gain since 22 July 2021.

MAD closed 1.587% up at AU$0.960 per share.

Eagers Automotive (ASX:APE) revenue up on robust earnings outlook

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Shares of automotive retailer Eagers Automotive Limited (ASX:APE) rose as much as 5.7% to AU$16.59, their highest since 1 July 2021.

The Company stated it expects half-year underlying operating profit before tax from continuing operations of about AU$218.6 million as compared with AU$40.3 million a year earlier.

Underlying operating profit last year had been impacted by the coronavirus pandemic, the Company informed.

The shares closed up 1.847% at AU$15.990 per share on Wednesday.

Capricorn Metals (ASX:CMM) close 22.615% strong on buying WA gold project

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Shares of gold explorer Capricorn Metals Ltd (ASX:CMM) jumped as much as 22.615% to end today’s session at AU$2.250 per share today.

The Company has executed two separate binding agreements to buy all shares in Crimson Metals Pty Ltd to acquire control over Mt Gibson Gold Project in Western Australia.

SRJ Technologies Group (ASX:SRJ) ends strong on contract win

Shares of engineering services provider SRJ Technologies Group (ASX:SRJ) rose as much as 7.5% to AU$0.215, their highest since 30 June 2021.

The Company stated it has won a consulting contract with Netherlands-based offshore oil and gas exploration services provider SBM Offshore.

The stock has posted its biggest intraday percentage gain since 16 July 2021.

The stock has fallen 60.8% this year, as of the last close and was 5% down at AU$0.190 per share at 3:58 PM AEST. 

LiveTiles (ASX:LVT) posts record cash receipts and strong revenue results

LiveTiles Limited (ASX:LVT), the software firm shared today its Quarterly activities report for the three month period ended 30 June 2021.

Key Highlights

  • The Company marked its annual recurring revenue of AU$62.8 million, a 17% growth as compared to the previous corresponding period.
  • Another major enterprise customer signing, a AU$2.1 million, three-year contract with Nestle, a top 100 Fortune company with over 350,000 employees. A record signing for LiveTiles EMEA.
  • Cash receipts rose 30%, hit a record AU$14.6 million. The firm posted net operating cash outflow of AU$1.2 million; a 24% improvement compared to Q3FY21.
  • The Company as on 30 June 2021, has AU$16.7 million cash on hand. This is adequate for sufficient cashflow runway for company operations.

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