The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful again this week. Here are four big stories you may have missed that affected businesses in the ASX 200 index:
NIB Holdings Limited (ASX: NHF)
At the end of the week NIB announced the creation of a specialist healthcare data science and services company.
The joint venture between NIB and Cigna Corporation, a global health services business, will be funded by a $10 million contribution from each partner.
The role of the joint business will be to analyse and interpret underlying individual disease risk, provide guidance on how this risk can be best prevented, mitigated, managed or treated, and deliver healthcare programs, services and interventions relevant to the disease risk profile.
Altium Limited (ASX: ALU)
It’s always interesting when one of the WAAAX tech shares gives a trading update or earnings guidance.
Altium held its AGM last week and the electronic PCB software business decided to give investors some guidance for FY20. The company guided that revenue would be in the range of US$205 million to $215 million and the earnings before interest, tax, depreciation and amortisation (EBITDA) margin will be between 37% to 38%. Achieving these numbers would be growth of both metrics.
However, Altium did warn that Octopart’s growth is slowing down because of a couple of short-term factors.
Afterpay Touch Group Ltd (ASX: APT)
Afterpay was another WAAAX share to deliver an update this week. The buy now, pay later business shared its November 2019 performance with the market.
Underlying sales for one month was $1 billion with 0.5 million net new customers. It finished the month with 6.6 million active customers and 42,500 active merchants.
Black Friday and Cyber Monday (which was on 2 December 2019, outside of the numbers reported above) saw underlying sales of $160 million over the two days – up 160%. Over the two days Afterpay added 140,000 customers – also up 160%.
Rio Tinto Limited (ASX: RIO)
The mining giant announced that it was going to invest $1.5 billion to continue production at the Kennecott copper mine in the US to 2032.
The investment will further extend strip waste rock mining and support additional infrastructure development in the second phase of the south wall pushback project.
It will deliver close to one million tonnes of refined copper between 2026 and 2032.
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Tristan Harrison owns shares of Altium. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended NIB Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.