Motley Fool Australia

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.

NEW! 5 Cheap Stocks With Massive Upside Potential

Our experts at The Motley Fool have just released a FREE report detailing 5 shares you can buy now to take advantage of the much cheaper share prices on offer.

One is a diversified conglomerate trading 40% off it’s all time high, all while offering a fully franked dividend yield of over 3%…

Another is a former stock market darling that is one of Australia’s most popular and iconic businesses. Trading at a significant discount to its 52-week high, not only does this stock offer massive upside potential, but it also trades on an attractive fully franked dividend yield of almost 4%.

Plus, this free report highlights 3 more cheap bets that could position you to profit in 2020 and beyond.

Simply click here to scoop up your FREE copy and discover the names of all 5 cheap shares.

But you will have to hurry because the cheap share prices on offer today might not last for long.

YES! SEND ME THE FREE REPORT!

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.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Related Articles…

Latest posts by Tristan Harrison (see all)