Tech stocks earned their keep today, with Altium jumping by more than 20pc. (Picture via Getty Images)
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The ASX 200 traded flattish by +0.04% on Tuesday after another hectic day of earnings reports. Tech stocks led the way following the 1.5% surge on the Nasdaq overnight.
Huge results by techies Megaport (ASX:MP1) and Altium (ASX:ALU) were the highlights (more details below), as their shares jumped by 16% and 27% respectively.
Other tech stocks, including NextDC (ASX:NXT) and Xero (ASX:XRO) also climbed ahead of their earnings release.
Consumer Staples meanwhile was the worst-performing sector following soft results by Coles – more details also below.
According to Commsec, the most actively traded large cap today was Telstra, with a trading volume on the platform of more than 16 million as the stock price rose 3%.
Elsewhere, Asian stock markets were mainly up today following Nasdaq’s rally. The Nikkei rose almost 1%, while Hang Seng has snapped a seven-day losing streak.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| ALU | Altium Limited | 46.96 | 27.33 | 1,872,982 | $4,855,145,011 |
| MP1 | Megaport Limited | 12.07 | 16.17 | 3,902,289 | $1,650,096,931 |
| HUB | HUB24 Ltd | 31.75 | 13.27 | 709,516 | $2,284,510,534 |
| PDN | Paladin Energy Ltd | 0.85 | 7.59 | 22,189,635 | $2,355,091,868 |
| BOE | Boss Energy Ltd | 3.48 | 6.10 | 2,908,092 | $1,157,467,940 |
| MAD | Mader Group Limited | 7.13 | 5.79 | 202,486 | $1,348,000,000 |
| SFR | Sandfire Resources | 6.39 | 5.54 | 1,069,566 | $2,764,196,164 |
| PMV | Premier Investments | 25.62 | 4.96 | 718,112 | $3,886,673,438 |
| DEG | De Grey Mining | 1.41 | 4.85 | 1,850,383 | $2,092,810,017 |
| A2M | The A2 Milk Company | 4.47 | 4.57 | 5,901,451 | $3,082,838,434 |
| SCG | Scentre Grp | 2.75 | 3.98 | 8,352,669 | $13,702,598,815 |
| INA | Ingenia Group | 4.20 | 3.96 | 498,191 | $1,646,636,387 |
| XRO | Xero Ltd | 119.22 | 3.70 | 204,467 | $17,409,252,346 |
| GOR | Gold Road Res Ltd | 1.57 | 3.64 | 1,846,865 | $1,628,416,300 |
| PNV | Polynovo Limited | 1.55 | 3.50 | 599,751 | $1,035,349,127 |
| BGL | Bellevue Gold Ltd | 1.50 | 3.45 | 2,021,877 | $1,641,052,605 |
| HLI | Helia Group Limited | 3.76 | 3.30 | 649,130 | $1,150,064,137 |
Software maker Altium (ASX:ALU) surged 27% after full year revenue increased by 19.2% to US$263.3 million, and EBITDA grew by 20.3% to US$96.0 million.
For FY24, Altium predicts revenue to come in between US$315 million to US$325 million, a 20%-23% growth from this year.
Megaport (ASX:MP1) surged 17% after guiding the market to a FY24 revenue range of $190m to $195m, an increase of 24% to 27% on FY23 revenue of $153.1m.
Megaport also confirmed that it expects to be net cash flow positive for the full year FY24. The company reported a gross profit for FY23 of $103.9m, up 52% on the pcp.
Hub24 (ASX:HUB) jumped 14% after its full year profit surged by 160% to $38m. The company also announced a share buyback worth up to $50 million over the next 12 months.
Lithium miner Allkem (ASX:AKE) rose 2% after posting full year record profit of US524.6 million, from $US334.7 million a year earlier.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DTL | Data#3 Limited | 6.17 | -17.84 | 2,406,302 | $1,161,039,872 |
| AWC | Alumina Limited | 1.22 | -7.22 | 12,615,719 | $3,815,711,063 |
| NHF | NIB Holdings Limited | 7.82 | -6.46 | 731,985 | $4,041,517,478 |
| COL | Coles Group | 16.17 | -6.15 | 7,911,597 | $23,060,486,131 |
| NAN | Nanosonics Limited | 4.48 | -5.29 | 4,194,779 | $1,430,150,029 |
| IRE | IRESS Limited | 6.13 | -4.89 | 2,783,186 | $1,202,924,213 |
| HLS | Healius | 2.72 | -4.56 | 756,095 | $1,623,637,650 |
| DRR | Deterra | 4.38 | -4.37 | 1,993,271 | $2,421,214,834 |
| RWC | Reliance Worldwide | 3.73 | -4.11 | 16,389,105 | $3,073,468,636 |
| ARB | ARB Corporation. | 32.29 | -3.73 | 859,788 | $2,753,610,488 |
| LLC | Lendlease Group | 7.64 | -3.54 | 925,885 | $5,459,430,755 |
| SDR | Siteminder | 4.13 | -3.50 | 1,283,327 | $1,177,282,934 |
| BRG | Breville Group Ltd | 24.39 | -3.33 | 688,386 | $3,602,373,839 |
| WOW | Woolworths Group Ltd | 36.21 | -3.05 | 1,745,562 | $45,518,521,866 |
| SGR | The Star Ent Grp | 0.96 | -3.03 | 4,581,974 | $1,602,494,068 |
| CTT | Cettire | 2.84 | -2.74 | 2,811,588 | $1,113,215,602 |
| ABC | Adbri Limited | 2.70 | -2.71 | 624,726 | $1,809,722,834 |
Data#3 (ASX:DTL) fell -18% despite reporting a 16.9% increase in revenue to $2.5 billion for the full year, and a 22.4% growth in NPAT to $37 million.
Coles (ASX:COL) fell after announcing a $1.042 billion NPAT for FY23, down -0.3% on pcp. This was off the back of $40.5bn revenue, which grew by 5.9% year on year. Coles declared 66cps fully franked dividends.
BHP (ASX:BHP) fell after reporting dividends and profit that came in weaker than expected. BHP’s underlying profit fell by 37% year-over-year to $13.42 billion, which has seen its final dividend trimmed by 54% to $0.80 a share.
“This result will disappoint investors, and with the near-term outlook not looking bright in China, the expectation is that demand will fall further,” said Josh Gilbert, market analyst at eToro.
Woodside Energy (ASX:WDS) reported a record H1 net profit after tax of US$1.74 billion. Production for the first half was a record at 91.3 million barrels of oil equivalent.
Motor vehicles accessories company ARB Corp (ASX:ARB) fell after reporting a -3.4% drop in sales revenue and 27.5% decline in profit after tax to $88.5m.
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