Market highlights and ASX small caps to watch on Tuesday

Overseas Markets Highlights

The theme overnight was commodities. Gold, oil, iron ore, copper, nickel, aluminium and lead all advanced on recovery outlook.

As a result, the ASX is poised to open slightly higher this morning.

Investors were selling tech stocks in the US. Microsoft, Apple, and Amazon were all down around 2 per cent. US listed shares of Atlassian tumbled 4.5 per cent.

Bitcoin down 5% to US$54,000 level

Bitcoin tumbled by around 5% to trade at US$54,105 at 8am AEDT today.

But that’s just another day at the office for the volatile crypto. Tesla has already made US$1.3 billion paper profits from Bitcoin, more than the 2020 profits from car sales – according to analysts.

Closer to Home

Earnings season on the ASX

Adbri (ASX:ABC) reported a full year net profit of $93.7 million, up 98.1 per cent on the previous year.

Perenti (ASX:PRN) reported a first-half net statutory loss after tax of $63.8 million, from a profit of $38.2 million last year.

G8 Education (ASX:GEM) reported a full year statutory net loss of $187 million, down 460 per cent from a year ago.

New Zealand broadcaster Sky Network (ASX:SKT) tripled net profits to $NZ39.6 million on sales for the first half.

Jumbo Interactive (ASX:JIN) reported group revenue of $40.9 million, up 9%.

Other ASX announcements before the bell

Mercury Energy (ASX:MCY) has downgraded its full year FY 2021 EBITDA guidance to $NZ520 million from $NZ535 million due to dry weather conditions.

Westpac (ASX:WBC) said that fintech SocietyOne, which has booked over $1 billion of loans on its books, will be the second partner to join its new digital banking-as-a-service platform.

Crown Resorts (ASX:CWN) will face the decision by the Victorian Government to establish a royal commission into Crown Melbourne’s licence in Victoria.

5 ASX small caps on watch today

Adore Beauty (ASX:ABY)
Adore Beauty has reported net profits up 180 per cent to $2.5 million, on sales up 95 per cent to $96.2 million for the half-year.

Good Drinks (ASX:GDA)
Reported a 2253% increase in its half year statutory EBITDA to $7.1 million.

Dubber (ASX:DUB)
Dubber announced that AT&T has supercharged its IP Toll-Free (IPTF) Network with Dubber Unified Call Recording (UCR) and Voice AI

Red Mountain Mining (ASX:RMX)
Advised that land access agreements have been signed and executed by all relevant parties for its 100% owned Koonenberry Gold Project.

Sky Network Television (ASX:SKT)
Reported tripling of its net profit to $NZ39.6 million on sales of $NZ356.9 million for the half year to December 31, 2020.