• Local shares were up modestly on Tuesday
  • A hectic day in earnings again, with tech stock Altium leading the way
  • Data#3 was the worst-performing large cap

 

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.

 

BIG CAP WINNERS

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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
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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.

 

BIG CAP LOSERS

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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
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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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