Markets

Stocks making the biggest moves at noon: Banks, Uranium Miners, Tyro Payments and more

Tue 15 Oct 24, 12:37pm (AEDT)
CBA building banks

Stocks in article

anz
MktCap:
-
bmn
MktCap:
-
cba
MktCap:
-
dyl
MktCap:
-
fwd
MktCap:
-
idp
MktCap:
-
lot
MktCap:
-
nab
MktCap:
-
tyr
MktCap:
-
wbc
MktCap:
-
web
MktCap:
-
xrf
MktCap:
-

Share article

These are the companies and sectors making headlines in afternoon trade.

Bank stocks – Major banks including Commonwealth Bank, Westpac, NAB and ANZ are up between 1.0% and 1.6%. The sector is recovering from a sharp pullback from two weeks ago, where investors rotated out of banks and into the beaten up resource sector.

Uranium miners – Uranium names including Lotus Resources, Bannerman Energy and Deep Yellow are up 7.4%, 5.1% and 4.2% respectively. Before the market opened on Tuesday, Alphabet-parent Google signed the world's first corporate agreement to buy power from multiple small modular nuclear reactions to meet electricity demand for AI, according to Reuters.

Tyro Payments (ASX: TYR) – Shares nosedived more than 13% after the Federal government threatened to ban debit card surcharges. The government has committed $2.1 million to the ACCC to investigate illegal and unfair surcharging practices. Tyro's revenue is significantly tied to merchant service fees, which includes surcharges. It is currently unclear what kind of impact the proposed ban would have on the company's earnings.

XRF Scientific (ASX: XRF) – Shares eased 3.8% after issuing a September quarter trading report. The company's revenue fell 3% to $13.1 million while profit before tax rose 15% to $3.2 million. "We expect the December 2024 quarter to be positive for all divisions. During this period our key focus areas are increasing Orbis crusher sales, new product developments, xrTGA sales and M&A opportunities," notes the report.

IDP Education (ASX: IDP) – Shares eased 3.4% amid the company's 2024 Annual General Meeting. IDP Chair Peter Polson stated that this will be his last term as Chair. Mr Polson was appointed as Chair in March 2007 and led the company through its IPO in 2015 and expansion in international educational services.

Web Travel Group (ASX: WEB) – Web shares are ticking 0.7% higher following a steep 35% selloff on Monday. The company's trading update prompted substantial analyst downgrades in revenue and EPS forecasts, as weaker-than-expected performance in Europe and higher customer rebates weighed heavily on results. The company revised its revenue margin guidance downwards to 6.4% from the 7% as indicated at the AGM. Most brokers retained a Buy rating for a stock but cut their target prices.

Fleetwood (ASX: FWD) – The modular building solutions provider entered into a binding agreement with the Saipem Clough Joint Venture (SCJV) for accommodation at the Searipple Village in Karratha. The agreement is expected to generate a minimum of $13.5 million in additional revenue, with further options to SCJV to take additional rooms. "“The performance of our Community Solutions business has improved on the back of increased activity in the region, generating higher occupancy, and we will report a significant uplift in earnings in FY25 against FY24 performance," says CEO Bruce Nicholson. Fleetwood shares are up 3.3% to the highest level since July 2023.

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

Get the latest news and insights direct to your inbox

Subscribe free