The S&P/ASX 200 Index (ASX: XJO) is trading relatively flat on Thursday, down just 0.01% at the time of writing, but it's a different story with these three shares.
They're each making notable moves on the back of quarterly updates. Let's take a look.
3 ASX 200 shares making moves on quarterly updates
Let's start with ASX 200 investment management company Challenger Ltd (ASX: CGF). Its share price is down 3.5% to $6.30 after clawing back from an intraday low of $6.24 on the back of its third-quarter update.
The company revealed $2 billion of Total Life sales, a 2% jump in assets under management – reaching $102 billion, and a 3% jump in its Funds Management business' funds under management – coming in at $96 billion.
However, the market might be focused on a 50% drop in institutional annuity sales, falling to $1 billion. Managing director and CEO Nick Hamilton said:
As we prioritise growth in longer duration retail business, we have seen a moderation of institutional annuity sales, with a lower level of maturities reinvested.
Institutional annuity sales are typically much shorter duration, and we remain very disciplined on institutional term annuity pricing.
On a brighter note, the share price of ASX 200 pallet company Brambles Ltd (ASX: BXB) soared 5% to a 52-week high of $14.66 earlier today on a guidance upgrade. It's since settled at $14.07 a share, 1.15% higher.
The company's sales rose 15% at constant currency over the first nine months of this fiscal year to nearly US$4,482 million.
It now expects its full-year sales revenue growth to come in between 14% and 15% at constant currency. Meanwhile, its underlying profit is forecast to grow by 17% to 19% at constant currency.
It previously tipped its revenue and profits to grow 12% to 14% and 15% to 18% respectively.
Finally, shares in ASX 200 uranium producer Paladin Energy Ltd (ASX: PDN) tumbled 3% to an intraday low of 62 cents. It followed the release of its quarterly activities and cash flow report.
The company spent US$18.7 million last quarter as it worked to restart activities at the Langer Heinrich Mine in Namibia, Africa. That left it with a US$147.2 million cash balance.
The project is estimated to be around 40% complete, with first production on track for the first quarter of 2024. CEO Ian Purdy said today:
With a strong uranium contract book and a world class asset in the Langer Heinrich Mine, Paladin remains well positioned to deliver long term value for our stakeholders.
The company's share price is currently trading at 63.2 cents a share, 1.25% lower.
