At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is up 0.15% to 7,473.1 points.
Here's what is happening on the ASX 200 today:
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Sonic Healthcare full year results fall short of lofty expectations
The Sonic Healthcare Limited (ASX: SHL) share price is tumbling lower following the release of its full year results. For the 12 months ended 30 June, Sonic Healthcare delivered a 28% increase in revenue to $8.8 billion and a 149% lift in net profit to $1.3 billion. This was driven largely by strong demand for COVID-19 testing services. As strong as this result was, it fell a touch short of the market's expectations. Goldman Sachs was forecasting revenue of $9,352 million and net profit of $1,327 million.
NIB shares sink on full year results
The NIB Holdings Limited (ASX: NHF) share price is falling heavily today after its full year results fell short of expectations. NIB reported a 2.9% increase in revenue to $2.6 billion and an 84.5% lift in net profit after tax to $160.5 million. A note out of Goldman Sachs reveals that it was expecting the private health insurer to report a 92.2% increase in net profit after tax to $171.4 million.
Ampol half year update and acquisition news
The Ampol Ltd (ASX: ALD) share price is falling following the announcement of its half year results and a major acquisition. Although the fuel retailer delivered strong first half profit growth, its outlook appears to have spooked investors. Management warned that lockdowns were impacting fuel and convenience sales in July and August. Ampol also revealed that it has made a non-binding indicative proposal to acquire Z Energy Ltd (ASX: ZEL) for NZ$3.78 cash per share. This values Z Energy's equity at NZ$2 billion.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Monday has been the Nearmap Ltd (ASX: NEA) share price with an 8% gain. This is despite there being no news out of the aerial imagery technology and location data company since its full year results last Wednesday. The worst performer on the ASX 200 has been the NIB share price with a 10% decline. This follows the release of its full year results.
