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ASX 200 finishes the week down 5%

ASX 200
Credit: Cimexus

The S&P/ASX 200 Index (ASX: XJO) suddenly became a lot more volatile, it finished down 5%, reversing a lot of April’s gains.

We recently learned that the number of Americans that have applied for unemployment benefits now stands at over 30 million people and rising.

Here are some of the highlights on the ASX 200:

More growth from ResMed Inc (ASX: RMD)

The healthcare business is one of the companies supplying the world with ventilators and other sorts of respiratory products.

It announced its third quarter trading result today. Revenue grew by 16% to US$769.5 million. The non-GAAP gross margin improved by 0.7% to 60%. Net operating profit grew by 39% and non-GAAP operating profit rose by 31%.

Software as a service revenue increased by 12% due to continued growth of MatrixCare and Brightree.

The share price rose 3.2%. It was one of the best performers in the ASX 200. 

Janus Henderson Group (ASX: JHG) reveals first quarter

The fund manager announced an adjusted operating income of US$164.5 million, which was up 15% compared to the same period a year ago. However, the actual operating income was a loss of US$332.4 million due to goodwill and intangible asset impairment charges of US$487.3 million.

Assets under management (AUM) of US$294.4 billion were down 21% compared to the prior quarter, reflecting the impact of coronavirus net outflows. But the average AUM was down only 3% to US$352.7 million.

The Board declined a quarterly dividend of US$0.36.

The Janus Henderson share price rose 8% today. It was the best performer in the ASX 200. 

Austal Limited (ASX: ASB) contract announcements

The ship-building business announced two things today after yesterday’s trading halt.

It advised it has not been awarded the contract to construct Guided-Missile Frigates for the US navy. It’s going to try to identify new opportunities for the Alabama shipyard.

And now for the good news. The company announced it has won a $324 million contract to design and construct Cape-class Patrol Boats for the Royal Australian Navy. It is the largest contract for an Australian vessel construction program ever awarded to Austal in the company’s 30-year history. The new vessels will be built in WA.

The Austal share price fell 20% in response to these announcements, it was the worst performer in the ASX 200.

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Returns as of 7/4/2020

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Austal Limited. The Motley Fool Australia has recommended ResMed Inc. 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.

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