Consumer spending hits the credit card | Aussie banks | OPEC+’s oil cuts benefit OXY
The consumer is still spending – but spending with a credit card If there’s one chart we want to show you this week it’s this: total outstanding consumer credit card balances, 2008-present. Adjusting for inflation it looks like we’re actually above the 2008/GFC peak. The last few quarters we’ve been writing “the consumer keeps spending” […]
Chart in Focus: Has the NASDAQ gone too far? | Woolworths margin expansion | Housing on the “outs”
Chart in Focus: NASDAQ Technical Analysis The recent recovery in the NASDAQ sees the tech index up strongly, now trading at a 7-month high,and up +17% year to date. Despite no strong fundamentals to support that as the Fed are still aggressive with their rate hikes and with valuation metrics looking inflated, with no major […]
NZ King Salmon | Management buys big at Scales | Aussie inflation – still an issue
Stock in Focus: NZ King Salmon (NZK.NZX) Delivered an in-line result for the 2023 financial year operating loss (EBITDA) of -$4.4m, while guiding for 2024 operating earnings (EBITDA) of $21-25m, up significantly its from previous guidance – helped by better-than-expected harvest volumes. Strong pricing offset weaker volumes and higher mortality costs. While a small step […]
Guide to Markets Summaries for NZ/AUS/US | Apple becomes more like a bank
Guide To Markets Sheets: Our regular Guide to Markets Summaries are now available – the NZ and Australian sheets cover companies that recently reported as of March; while the US summary covers Q4 earnings. They are a “one-stop shop” which sum up out buy/sell/hold recomendations as well as offering commentry on our thinking. They can […]
First Solar – retain high-risk BUY | Milking Pressures | Innvocare
Stock in Focus: First Solar Take a look at First Solar, which we last wrote-up at $42.00 per share as a BUY– it now trades at $210.14 per share. The company is engaged in making solar panels in the US, and has a full order book up until 2026. We think there’s a couple of […]
Thoughts for the week ahead: It’s not a credit bubble, it’s an asset bubble | Carbon Credits | Upgrading Fonterra and Macquarie
Upgrades in our equities coverage We upgraded Fonterra from sell to neutral on the back of a good result and fundementals coming into line after several bad years. We upgraded Macquarie from a hold to a buy because we think the “big bank” sell- off was overdone, and big banks with strong balance sheets ought […]
Everybody doesn’t get a bargain at the Warehouse | Mainfreight | Block
Stock in Focus: The Warehouse Group (WHS.NZX) The Warehouse Group shares slumped -11.7% after reporting a weak result for the first half of 2023, which saw slow down in the second quarter weigh heavily upon the result. Noel Leeming and Torpedo7 sales decreased, while The Warehouse and Warehouse Stationery were up 13.2% and 1.7% respectively. […]
The Fed Makes Money Moves | Ratcliffe Bids for MANU | Kathmandu Climbs Higher
US Market Movers The Fed pressed ahead with a 25 bps rate hike – markets rose in response then fell -1.65% as they digested the news (Goldman’s call that the Fed will pause hikes came to nada). It’s worth looking across the ocean to the UK, where inflation hit +10.4% for February — this is […]
Goodman Property | Manchester United
Stock in Focus: Goodman Property Group (GMT.NZX) Goodman Property Trust shares fell -1.7% after revealing it expects a $238m or 4.7% reduction in the valuation of its $4.8 billion portfolio for the 2023 financial year ending March 2023. With capitalisation (rental yield) rate increasing from 4.2% last year to 5.2% as the property sector continues […]
