At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory after giving back most of its early gains. The benchmark index is currently up 0.2% to 7,201.5 points.
Here's what is happening on the ASX 200 today:
CBA's half year result smashes expectations
The Commonwealth Bank of Australia (ASX: CBA) share price is charging higher today after smashing the market's expectations with its half year results. Australia's largest bank reported a 23% increase in cash earnings to $4,746 million. This compares to Morgans' estimate of $4,320 million and the market consensus estimate of $4,500 million. CBA also declared a $1.75 per share interim dividend and announced a $2 billion on-market share buyback.
Computershare jumps on guidance upgrade
The Computershare Limited (ASX: CPU) share price is surging higher today after its first half update impressed the market. For the six months ended 31 December, Computershare reported a 4.6% increase in management revenue to US$1.2 billion and a 4.5% lift in management earnings per share to 22.76 US cents. But best of all, management is upgrading its full year earnings per share guidance from 2% growth to 9%.
Mineral Resources predictably disappoints
The Mineral Resources Limited (ASX: MIN) share price is sinking today after its half year results unsurprisingly fell short of expectations. As mentioned here earlier this week, Mineral Resources had been tipped as a potential candidate for a negative earnings surprise by Goldman Sachs. This turned out to be the case, with the mining and mining services company's underlying net loss after tax of $36 million missing the consensus estimate of a $105 million profit by a whopping 134%.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Wednesday has been the Computershare share price with a 9.5% gain following its first half results and guidance upgrade. The worst performer has been the Mineral Resources share price with a 7% decline following its half year shocker.
