ASX

Megaport Ltd (ASX: MP1) shares have fallen 12% in morning trade after providing a second-quarter business update. Today’s selling in the cloud infrastructure provider has been amplified by a broader tech sell-off on the NASDAQ 100 overnight, which fell 2.57%. Annualised revenue now $110 million Key financial highlights from the second quarter (Q2) ending December 31 include: Monthly recurring revenue…

The BHP Group Ltd (ASX: BHP) share price is on watch after the mining giant released its HY22 production numbers. BHP is currently producing a number of different resources including copper, iron ore, coal and petroleum. It also has plans for potash in the future. BHP’s HY22 production The huge resources business said that its Western Australian…

The Redbubble Ltd (ASX: RBL) share price just hit a 52-week low of $2.99. Is the e-commerce ASX share now a buy? Redbubble is an online retailer of a large number of different products (such as clothes, stationery, phone cases and so on) that have cool designs on them which have been created by artists. What’s going…

Iron ore is back. An unexpected recovery in the iron ore price has the industry punching the air in delight as its turnaround wasn’t expected for quite some time. It’s hard to believe such a recovery is taking place after iron ore’s recent crash. Late last year, Chinese demand for iron ore surged on the…

The Crown Resorts Ltd (ASX: CWN) share price has leapt 8% in morning trade after receiving a revised takeover bid of $13.10 per share from private equity outfit Blackstone. Currently, the Crown share price is at $12.55 per share, 4.2% below the indicative offer price. CWN share price Fourth time lucky In November, Blackstone proposed $12.50 per share for Crown, which was…

Microsoft (NASDAQ:MSFT) is back. The 46-year old, $2.3 trillion-dollar company has had its status raised back to FANG rank, taking the place of Twitter (NYSE:TWTR) in the Intercontinental Exchange NYSE FANG+ index. ETF Securities FANG+ ETF (ASX:FANG) was quick to make the change, replacing Twitter in the first reconstitution of the fund since it was…

As the calendar turns over to another year the bubble talk picks up once again. Listening to a popular US podcast called Animal Spirits during the week they referred to the acronym ‘FUD’ referring to Fear, Uncertainty and Doubt. Specifically, the hosts were referring to the power of negative headlines, talking about bubbles, busts valuations,…

Rates send markets lower, Magellan loses ‘material’ client, gold miners shine The local market benefitted from a strong overseas lead but managed to deliver a gain of just 0.1 per cent on Friday. The technology sector continues to be the largest drag, falling 3.9 per cent for the day and 4.5 per cent for the week, with energy…

Market weaker despite positive lead, unemployment falls, CSL down on acquisition The S&P/ASX200 (ASX: XJO) didn’t follow global markets higher, finishing down 0.4 per cent as CSL (ASX: CSL) dragged both the healthcare sector, down 5.1 per cent and the market lower. The reason was the completion of their capital raising at an 8 per…

Tech pulls market lower, deals galore across travel, property sectors  The technology sector once again dragged the market lower, falling 2.6 per cent and pulling the market down 0.7 per cent along with it. The biggest detractors were Afterpay (ASX: APT) and Zip Co (ASX: Z1P) which fell 3.1 and 6.9 per cent respectively as the flood out of high…

CSL Limited (ASX: CSL) has announced a blockbuster US$12.3 billion (AU$17.2 billion) tender offer for Vifor Pharma after trading hours today. The deal is CSL’s first major transaction since 2008 and will bring together two globally leading biotech companies. CSL finishes the year with a bang Speculation around the deal had been gaining momentum in recent days. On Monday CSL confirmed discussions…

The Corporate Travel Management Ltd (ASX: CTD) share price isn’t moving today while the business raises $100 million to fund the purchase of the Helloworld Travel Ltd (ASX: HLO) corporate and entertainment travel division. The acquisition will cost $175 million, funded via the capital raising and $75 million in new Corporate Travel shares issued to Helloworld. Corporate Travel buys up another…