Closing Bell 29th February: ASX edges higher. Worley jumps again after good earnings
ASX edges higher. Worley jumps again after good earnings. Harvey Norman gains, bitcoin soars
February 2024
Balanced Portfolio Recommendation: Sell Take Profit – Resmed (RMD)
Sell Take Profit – Resmed (RMD). RMD is a global company digital health and cloud-connected medical devices. The Company design innovative solutions to treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Also, its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases
Pre-Market Pulse 29th February – Stocks slip in quiet market as investors wait for Inflation data
Stocks ahead of a key inflation reading that could heavily shape expectations for the timing of an interest rate cut from the Federal Reserve.
Closing Bell 28th February: NextDC Leads Tech Surge as Lithium Miners Pilbara, Liontown, and IGO Score Major Gains
The ASX remained stable, buoyed by a tech sector rally led by NextDC’s revenue surge, while declines in communications and mixed results in other sectors balanced the market.
Balanced Portfolio Recommendation: Buy Worley Limited (WOR)
Adding WOR to Balanced Portfolio with a 2% allocation. WOR is a global company headquartered in Australia is a global provider of professional project and asset services in the energy, chemicals and resources sectors. As a knowledge-based service provider, they use their knowledge and capabilities to support the customers to reduce their emissions and move towards a low carbon future.
Balanced Portfolio Recommendation: Buy – Arcadium Lithium Plc (LTM)
Incorporating a 3% allocation to Arcadium Lithium (LTM) within our balanced portfolio represents a prudent investment strategy, given the stock’s attractive valuation relative to its sector peers. This investment opportunity is underscored by LTM’s competitive market positioning and the current undervaluation, suggesting a favorable entry point. Additionally, the stabilization of lithium prices, alongside emerging signs of recovery in the commodity market, indicates a positive outlook for lithium demand. This is particularly relevant in light of the growing electric vehicle and renewable energy markets.
Pre-Market Pulse 28th February – Stocks struggle for direction waiting on inflation data
Stocks as dip buyers helped tech cut some losses and better-than-expected quarterly results from retailers, Macy’s and Lowe’s pushed consumer discretionary stocks higher.
Closing Bell 27th February: XJO edges higher. Coles jumps on trading update. Reece higher
XJO lower. Coles jumps on trading update. Reece higher. Zip, Tyro take a dive
Balanced Portfolio Recommendation: Buy Add – IPD Group (IPG)
Buy Add – IPD Group Limited, based in Australia, specializes in distributing electrical equipment, offering various solutions under well-known brands like ABB, Elsteel, Emerson, and Red Lion. They provide services such as installation, calibration, maintenance, and more. Serving a diverse customer base including switchboard manufacturers, wholesalers, contractors, and utilities, the company has a long history since its founding in 1889 and was previously known as Alstom Industrial Products Limited before changing its name in 2006.
Balanced Portfolio Recommendations: SELL Take Profit Half of Position – Treasury Wine Estate (TWE)
TWE has done very well over the last month and reporting was as expected. We are trimming half the position to lock in profits and looking to get back in if the stock falls.
Balanced Portfolio Recommendation: Sell Trim – Mineral Resources (MIN)
Sell Trim – Mineral Resources (MIN). MIN is a mining services company with a portfolio of mining operations across lithium and iron ore. MRL has been providing safe, high-quality, low-cost mining, mining construction and mining infrastructure services in Australia. The business consists of three core pillars Mining Services, Commodities and Innovation and Infrastructure.
Pre-Market Pulse 27th February – Stocks Ease from highs as investors wait on inflation data
Stocks eased back from the AI fueled rally as investors mulled ongoing quarterly earnings from corporate America and awaited further catalysts including the release of key inflation data later this week.