2024 Aug 28th ASX At the Open: NVIDIA released its earnings after hours and its impacted us

Published: Aug 28, 2024 Duration: 00:03:18 Category: Education

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I'll get to your calls but let's get a look at the stock market first Elio deato is at stockopedia Elio how is Thursday looking video result that we were all waiting toh come in last night well basically it was a revenue beat as expected but it did disappoint on the Outlook so the stock was sold off on our on their Market sorry aftermarket um and that's flowed through to our all ordinaries today we're down around half a percent at the moment uh we also got those July inflation numbers and they were at the top of guidance uh or expectations I should say uh proving once again that inflation is like oil on the fingers a lot of washing will be required to get it off um anyway uh speaking of oil that continued with its sell off from yesterday as two did Iron oil resume its pullback with a lot of Base Commodities um even in the world of make believe the price of Bitcoin fell below $60,000 us and our currency is a fraction lower than this time yesterday at 67.8 us and apologies for my dyslexia attack yesterday where I got the six and sevens muddled up um in terms of our Market our best sector today is financials as it's a good day for the banks um our worst is materials and much of that is to do with a disappointing profit update from mineral resources uh the stock is currently down around 10% at the moment uh any the other news of interest from today we heard from West farmers who delivered a small increase in sales revenue and profit uh but The Shining Light was definitely the Kmart business businesses Shoppers look for deals amongst tougher conditions um its gains actually offset pullbacks in other divisions uh the stock though is down 2.4% at the moment uh Quantas told investors that it saw an earnings decline of some 28% which was basically in line with what they had told us before um it also flagged profit would continue to soften as demand for travel Falls from record levels but travel companies say demand is strong so who's telling fibs um anyway the stock is down or at the moment around1 16% at the moment multic commodity miners South 32 they saw their loss widen in this financial year as the commodity price slid uh that said they did uh say that they will undergo a 200 million Us doll share buyback using funds received from the sale of its ilara met coal project um the stock is uh currently uh actually done with the socks up or down at the moment it doesn't matter uh let's go to luxury online retail ER setti who saw a big jump in Revenue active customers and repeat customers over their financial year but profits actually fell and Auditors are looking at how they recognize revenues so even though they've had a terrible year in terms of price the stock was initially sold off around 20% I think it's now down around 13% at the moment and lastly Southern Cross austero has canell its final dividend and it will put its network of 96 TV stations up for sale yet again however if they have better luck this time then the stock could see pass suitors in Arn media come back for another crack uh the stock is up quite strongly around 1.9% at the moment and that was all in there busy Market open Raph thank you very much Elio demato there at stockopedia

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