At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of Wall Street and is tumbling notably lower. The benchmark index is currently down 1.55% to 7,072 points.
Here’s what is happening on the ASX 200 today:
Aristocrat shares storm higher
The Aristocrat Leisure Limited (ASX: ALL) share price is storming higher today despite the market selloff. This follows a positive reaction to the gaming technology company’s half-year results. Aristocrat reported a 23.1% increase in operating revenue to $2,745.4 million and an impressive 40.9% increase in NPATA to $580.1 million. The latter was well ahead of the consensus estimate of $523 million. Aristocrat also announced a $500 million on-market share buyback.
Webjet falls on full-year results
The Webjet Limited (ASX: WEB) share price is sliding on Thursday following the release of the online travel agent’s full-year results. For the 12 months ended 31 March, Webjet reported revenue growth of 258% to $138 million and an EBITDA loss of $15 million. According to a note out of Goldman Sachs, it was expecting Webjet to report revenue of $143.6 million and EBITDA of $1.5 million. One positive, though, was that the company’s operating cash flow of $71.5 million was well ahead of Goldman’s estimate of $43.4 million.
Retail shares tumble
The retail sector has been hammered on Thursday, with the likes of JB Hi-Fi Limited (ASX: JBH) and Wesfarmers Ltd (ASX: WES) falling particularly heavily during the morning session. This has been driven by the release of very disappointing results from a couple of major retailers in the United States overnight. Target Corp saw its shares crash 25% lower on Wall Street after it revealed that rising inflation is denting customer spending.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the volatile Imugene Limited (ASX: IMU) share price with a 7% gain on no news. Going the other way, the worst performer has been the Novonix Ltd (ASX: NVX) share price with a 7% decline amid broad weakness in the battery materials industry.