WES, GMG, WOW, TCL: Why are these ASX-listed stocks in focus today?

3 min read | May 10, 2022 02:44 PM AEST | By Priyanka Payal

WES, GMG, WOW, TCL: Why are these ASX-listed stocks in focus today? — Image source: © Ymgerman | Megapixl.com

Highlights

The Australian share market traded lower as the benchmark index ASX200 was down 2.176% at 6965.700 points today.

During Tuesday's early morning trading hours, all 11 sectors traded lower, while the session's best performing sector was Telecommunications Services.

Oil prices tumbled on Tuesday due to a diminished outlook on energy demand.

Continuing with yesterday's trend, the Australian share market traded lower today (May 10). The benchmark index ASX200 was down 2.176% at 6965.700 points, buoyed by another selloff in the overnight trade on Wall Street, weak investors' sentiments due to fears over interest rate hikes and a drastic fall in global equities. Oil prices tumbled on Tuesday due to a diminished outlook on energy demand.

During Tuesday's early morning trading hours, all the 11 sectors traded lower, while the session's top performing sector was Telecommunications Services.

In this article we will discuss the market performance of four ASX-listed stocks, namely - Wesfarmers Limited (ASX:WES), Woolworths Group Ltd (ASX:WOW), Transurban Group (ASX:TCL), and Goodman Group (ASX:GMG).

Wesfarmers Limited (ASX:WES)

The shares of Wesfarmers Limited traded 0.550% lower at AU$48.790 per share on ASX at 12:22 PM AEST today. Wesfarmers is an ASX-listed Australian company with business across various verticals, including home improvement and outdoor living; apparel and general merchandise; office supplies; health, beauty and wellbeing. The company operates businesses in chemicals, energy and fertilisers, and industrial and safety products.

Wesfarmers has a market capitalisation of AU$55.64 billion.

In the last one year, Wesfarmers' shares have fallen 11.05%, while the stock is down 18.71% year-to-date (YTD).

Wesfarmers completed its acquisition of Australian Pharmaceutical Industries (API) on 31 March 2022. The purchase will add new health, wellness, and beauty segments to its segment.

Image Source: © Kolphotos | Megapixl.com

Woolworths Group Ltd (ASX:WOW)

Woolworths' shares traded 2.476% lower at AU$37.410 per share on ASX at 12:41 PM AEST today. Woolworths Group Ltd is an ASX-listed Australian retailer with a market capitalisation of AU$46.56 billion. In the past 12 months, the share price of Woolworths Group Ltd has gained 9%.

Earlier this month, the supermarket giant shared its third-quarter sales results for the 13 weeks ended 3 April 2022. During this period, despite supply chain disruptions, Woolworths’ sales rose 9.7% to AU$15.1 billion, while e-commerce sales jumped 33.4% from Q3 F21 to AU$1.5 billion.

Transurban Group (ASX:TCL)

The share price of ASX-listed toll-road operator Transurban Group traded 0.424% lower at AU$14.090 per share on ASX at 12:51 PM AEST today. The company has a market capitalisation of AU$43.45 billion.

Australian road freight saw strong growth in 2021. The total freight is expected to grow 35% from 2018 to 2040, while urban freight is anticipated to grow 60% from 2020 to 2040. Transurban’s stock is up 1.08% YTD.

READ More: Beamtree (ASX:BMT) signs US$7M contract with Ampath; shares surge

Goodman Group (ASX:GMG)

The share price of ASX-listed integrated property group Goodman Group traded 0.730% lower at AU$19.020 per share on ASX at 1:13 PM AEST. The Group owns, develops and manages real estate and has a market capitalisation of AU$38.48 billion.

Recently the company priced the issue of US$500m worth of sustainability-linked bonds with a scheduled maturity of 2032. The Bonds are part of the Group's debt diversification and tenor management strategy.

In the last one year, shares of Goodman Group have fallen 2.64%, while the stock is down 28.94% year-to-date (YTD).

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