Stocks of the Hour: Reporting Season Update

Company News

by Melissa Darmawan

Thanks for tuning in, with other 20 companies reporting today, let’s take a look at the companies getting a bit of attention.

Woodside Petroleum (ASX:WPL) more than doubled annual profit and hiked its dividend, thanks to buoyant oil and LNG prices. Its pending $40 billion merger with BHP Petroleum is on track to boost the producer into a global giant this year. Shares are on the move, up 1.5 per cent at $27.02.

Shares in Whitehaven Coal (ASX:WHC) are trading 1.3 per cent lower after the miner unveiled a buy back up to $400 million, after surging thermal coal prices helped the company achieve a record half-year result. The share price is sitting at $3.03

CSL (ASX:CSL) shares have surged 3.9 per cent to $274.01 amid several broker upgrades. Credit Suisse noted that the blood collecting giant’s profit came in 18 per cent ahead of consensus forecasts.

Meanwhile, Telstra's (ASX:TLS) first half earnings haven taken a hit, blaming one-offs reduction payments from the national broadband network. Shares are trading 0.6 per cent lower at $4.04.

Wesfarmers (ASX:WES) has posted a 12.7 per cent fall in its interim profit to $1.2 billion and trimmed its dividend by 9 per cent after pandemic related challenges continue to weigh. Shares have taken a dive, down 4.9 per cent at $52.22.

Embattled gaming group Crown Resorts’ (ASX:CWN) losses have accelerated to $196.3 million reflecting pandemic related challenges and a class action. However the gaming operator did accept a $8.9 billion takeover bid from American private equity firm Blackstone this week. Shares are trading 0.2 per cent higher at $12.58.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.