Stocks of the Hour: Eagers Automotive, Boral & EMVision Medical

Company News

by Lauren Evans

Eagers Automotive (ASX:APE) warns an anticipated reduction in the number of new vehicles delivered to customers is expected to impact its half year financial performance. The automotive retailer related the issue to multiple global events, particularly the on-going effects of semiconductor shortages in the industry, as well as the conflict in Ukraine and China’s Covid lockdowns. Shares are trading 3.2 per cent lower at $11.51.

Boral (ASX:BLD) expects to take a $45 million hit to its FY22 earnings due heavy rainfalls in NSW and Queensland, and higher energy prices. This comes after its update in March which stated expected earnings of between $145 and $155 million assuming no further rain events. Given the recent rainfalls and inflationary cost pressures, this hasn't been the case. Shares are trading 1.7 per cent lower at $3.16.

EMVision Medical (ASX:EMV) has been awarded $5 million in funding under the Australian Federal Government’s modern manufacturing initiative. The grant aims to advance the company’s brain screening technology for stroke management, and will assist EMVision in establishing manufacturing capabilities at a commercial scale. Shares are trading 6.4 per cent higher at $1.84.

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