Four ASX shares that are failing to follow the market higher today are listed below. Here's why they are falling:

EML Payments Ltd (ASX: EML)

The EML Payments share price is down 22% to 70.5 cents. Investors have been hitting the sell button today after the payments company announced a shock change of leadership. It advised that its board elected to discontinue CEO Ron Hynes's employment agreement from 21 December. It advised that it made the decision "having resolved that alternate leadership is required to execute the Company's strategy, EML 2.0." Hynes will receive six months' notice but will not receive any equity grants given he will not be in employment on the relevant vesting dates.

GQG Partners Inc (ASX: GQG)

The GQG Partners share price is down 5% to $2.06. The fund manager's shares have been bouncing around recently due to concerns over its investments in Adani Group. Goldman Sachs believes this has created a buying opportunity. The broker recently put a buy rating and $2.80 price target on its shares. It said: "We retain our Buy rating on GQG. We lower our PT to $2.80 from A$3.00 to reflect the relatively muted impact on flows to date despite an outsized share price reaction resulting in a year P/E of <9x. We've moderated our flows reflecting some slowdown, albeit manageable in our view."

IGO Ltd (ASX: IGO)

The IGO share price is down 3% to $4.64. This follows the release of an update relating to the company's Kwinana Lithium Hydroxide Refinery (Kwinana). It owns 49% of this business through the Tianqi Lithium Energy Australia (TLEA) joint venture. IGO revealed that as a result of prevailing market conditions for lithium hydroxide chemical, TLEA has experienced a build in lithium hydroxide inventory at Kwinana over recent months. This is expected to continue in the short to medium term. As a result, IGO does not expect TLEA to be in a position to pay a dividend in FY 2025. IGO received dividends of $761 million from TLEA in FY 2024.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price is down 20% to 43.5 cents. This morning this user experience and performance management solutions provider released a trading update. It advised that total contract value (TCV) for the first half is expected to be $23 million to $27 million. The midpoint of this range represents a 39% decline year on year. Things are even worse for its EBITDA which is expected to be in the range of negative $0.5 million to positive $2 million. This will be a 93% decrease at the midpoint.

The post Why EML, GQG Partners, IGO, and Integrated Research shares are sinking today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Block Inc (ASX: SQ2)

The Block share price is down 2.5% to $88.47. Investors have been selling this payments company's shares after a mixed night for its NYSE-listed shares on Wall Street. This latest decline means that Black's shares are down approximately 22% since the start of the year.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 5% to 97.5 cents. This is despite there being no news out of the counter drone technology company. However, Droneshield's shares have been under significant pressure recently amid concerns over its valuation. So much so, its shares have now lost an astonishing 64% of their value since peaking at $2.72 in the middle of last month. Despite this, they remain up 200% on a 12-month basis. It is also worth noting that Bell Popper currently has a hold rating on its shares but with a price target of $1.60. This is notably higher than current levels.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price is down 7% to 76 cents. This morning, this user experience and performance management solutions provider announced that it has found its new CEO. The company has appointed Ian Lowe to the role, effective 1 October. The release notes that Lowe brings a wealth of experience and a proven track record of success in building and consolidating high-growth technology businesses. Chairman, Peter Lloyd, said: "Ian's appointment as CEO signifies a new era of leadership and growth for Integrated Research, and the Board looks forward to working closely with him to drive the Company's strategic vision and returning the Company to a path of value generation for its stakeholders."

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is down 4% to 18.2 cents. This follows the release of an update on the drilling of Booth-1 in L7 in the north Perth Basin. According to the release, the L7 operator, Triangle Energy Global Ltd (ASX: TEG), has informed Strike that Booth-1 has reached Total Depth today with no moveable hydrocarbons discovered in any of the reservoir targets. In light of this, the Booth-1 well will be plugged and abandoned over the coming days.

The post Why Block, DroneShield, Integrated Research, and Strike Energy shares are dropping today appeared first on The Motley Fool Australia.

That's because analysts at Bell Potter have just named them as ASX tech stocks to buy. Here's what the broker is saying about them:

Hub24 Ltd (ASX: HUB)

The first ASX tech stock that Bell Potter is bullish on is Hub24. It is an investment platform provider with $84.4 billion of funds under administration (FUA).

Bell Potter has been impressed with the company's growth in FY 2024 and believes it is well-positioned to continue this positive trend in the coming years. In light of this, it feels its shares are undervalued at current levels. It said:

We reiterate our Buy recommendation. HUB looks cheap relative to other high growth specialist platforms and the outlook for principal net flows should underpin incremental earnings growth. Our preference is predicated on a large exposure to superannuation assets. Delivering on complex integrations is another tick in our view.

Bell Potter has a buy rating and $53.20 price target on its shares. This implies potential upside of 14% for investors from current levels.

Integrated Research Limited (ASX: IRI)

Another ASX tech stock that could be a buy according to Bell Potter is experience management solutions provider Integrated Research.

It designs, develops, implements, and sells solutions that optimise business-critical systems. This provides insights, monitoring, and support to keep payment hubs, unified communications ecosystems, and contact centres running as they should.

Bell Potter was pleased with the company's performance during the second half and notes that management now expects to hit the upper end of its guidance range for revenue and earnings. This has ultimately boosted the broker's confidence in the tech stock's outlook and underpinned an increase in its valuation. It said:

We have updated each valuation used in the determination of our price target for the forecast changes and also rolled forward the DCF by a year. We have also increased the multiples we apply in the PE ratio and EV/EBITDA valuations from 9.5x and 7.25x to 10.5x and 7.75x and also reduced the WACC we apply in the DCF from 10.2% to 9.7% due to the strong FY24 result and relatively positive outlook.

Bell Potter has put a buy rating and $1.05 price target on the company's shares. Based on its current share price of 90 cents, this suggests that upside of 17% is possible over the next 12 months.

The post 2 ASX tech stocks to buy now: Broker appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is up 5% to $1.70. Investors have been buying this defence and space company's shares after it announced an update on its first half performance. EOS achieved unaudited first half revenue of approximately $142.6 million. This represents an increase of 92% on the $74.3 million that it recorded in the prior corresponding period. Management advised that this was driven by growth across all businesses. This includes the impact of accelerating production and delivery of remote weapons systems under an existing contract with a customer in the Middle East, growth in the EM Solutions business, and growth in the Space Technologies business.

Hub24 Ltd (ASX: HUB)

The Hub24 share price is up 1.5% to $47.06. This morning, this investment platform provider released its fourth quarter update and revealed further strong growth. Hub24 reported that its platform funds under administration (FUA) increased to $84.4 billion during the fourth quarter. This represents a 6% quarter on quarter increase and a 35% improvement on the prior corresponding period. This reflects record quarterly net inflows of $5 billion, which was up 138% on the prior corresponding period. For the 12 months, the company also reported a record year of net inflows. They came in at $15.8 billion, which is up 62% on the prior corresponding period.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price is up 12% to 95 cents. This has been driven by the release of the performance management solutions provider's trading update this morning. It revealed a strong rebound in total contract value (TCV), statutory revenue, and EBITDA. The latter is now expected to be at the upper end of its previous guidance. Management believes the result provides a platform for a strategic shift to product-led growth. It also announced that its CEO, John Ruthven, will be stepping down. The company felt that the "timing is right for new leadership and CEO transition."

Kingsgate Consolidated Limited (ASX: KCN)

The Kingsgate share price is up almost 2% to $1.69. This morning, this gold miner announced that it has entered into definitive loan documentation for a US$35 million term facility with Nebari Gold Fund and Nebari Natural Resources Credit Fund. The funds will be available for drawdown following satisfaction of conditions precedent that are standard for a facility of this nature. Management notes that the funding will enable it to consolidate its existing debt, repay preference shareholder loans, ensure timely delivery of new mining equipment, and expand the aggressive near mine and regional exploration programs.

The post Why EOS, Hub24, Integrated Research, and Kingsgate shares are pushing higher appeared first on The Motley Fool Australia.

The share price explosion followed the release of the company's FY24 trading update.

Integrated Research provides performance management and analytics for IT infrastructure, payments, and communications companies.

Not only did the company report a 93% jump in earnings before interest, taxes, depreciation, and amortisation (EBITDA) over the 10 months ending 30 April, it also upgraded its full-year guidance.

Let's take a look at the details.

ASX tech stock skyrockets on major financial boost

For the 10 months ending 30 April, Integrated Research reported $59.1 million in total contract value (TCV), up 8% on the previous corresponding period (pcp).

Between February and April, the company secured $8.4 million in new business, including six new customers, mainly in the Americas.

The renewal portfolio continues to perform well with 98% net revenue retention. Unaudited revenue for the period is $61.4 million, an increase of 11% on the pcp.

The company said it had contained cost increases to help deliver a massive 93% boost to EBITDA at $13.9 million.

Full-year 2024 results to 'materially exceed' last year

Integrated Research is now guiding FY24 TCV of $75 million to $84 million. This compares to $68.5 million for FY23.

The company expects revenue in the range of $76 million to $85 million. This compares to $69.8 million for FY23.

It anticipates EBITDA of between $18 million to $25 million. This is well above the $12.1 million EBITDA reported for FY23.

Commenting on the market update, CEO John Ruthven said:

We are pleased with our YTD performance and field execution, particularly in securing several key new Collaborate customer wins.

The changes we have made to our sales leadership team and go-to-market approach over the last 12-18 months are starting to bear fruit.

As we progress through May and June, we anticipate a strong finish to the financial year.

ASX tech stock share price snapshot

The Integrated Research share price has risen 70.8% in the year to date. This is a stunning outperformance on the S&P/ASX 200 Information Technology Index (ASX: XIJ), which is up 22.7%

Over the past 12 months, the ASX tech stock has soared 53.75% while the index lifted 43.7%.

That annual gain is equal to today's stunning one-day increase for the Integrated Research share price.

The company now has a market capitalisation of $69.84 million.

The post ASX tech stock up 54% on positive trading update appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Calidus Resources Ltd (ASX: CAI)

The Calidus Resources share price is up 14% to 20.5 cents. This follows news that Calidus has agreed to acquire the Nullagine Gold Project in the Pilbara from Novo Resources (ASX: NVO). Calidus has also agreed to licence the use of the Nullagine camp infrastructure to Atlas Iron. Management believes it is "an outstanding deal which will deliver substantial benefits to Calidus in terms of production and its cash position."

Cromwell Property Group (ASX: CMW)

The Cromwell Property share price is up 4% to 42.7 cents. This morning, the property company announced its next quarterly distribution. It will be paying shareholders 0.75 cents per share in February, with its shares trading ex-dividend for this next week on 28 December. This equates to a distribution yield of 1.75%.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price is up 14% to 36 cents. This afternoon, this performance management and analytics provider announced the signing of a significant new contract with Fiserv Inc. (NYSE: FI). According to the release, the five-year contract has a total contract value of US$6.6 million (A$10.1 million).

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is up 26% to $12.27. This appears to have been driven by an update from the niobium explorer yesterday which revealed further strong results from drilling at the 100% owned West Arunta Project in Western Australia. Management noted that assay results from the P2 discovery confirm the potential for a large mineralised carbonatite system to be present.

The post Why Calidus, Cromwell Property, Integrated Research, and WA1 shares are pushing higher appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Integrated Research Limited (ASX: IRI)

The Integrated Research share price is up 14% to 57 cents. This morning, this performance management solutions provider released a trading update. Integrated Research expects to report half year EBITDA of $7.8 million to $8.8 million. This will be a 15% to 30% increase over the prior corresponding period.

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price is up 1.5% to $176.70. This appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has retained its overweight rating and $215.00 price target on the investment bank's shares. Morgan Stanley suspects that Macquarie could benefit from recent commodities volatility.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 4% to $4.14. This follows a strong night of trade for lithium shares on Wall Street. In addition, on Wednesday Citi upgraded Pilbara Minerals' shares to a buy rating with a $4.70 price target. The broker felt that the company's shares had been oversold since November.

South32 Ltd (ASX: S32)

The South32 share price is up 2.5% to $4.61. This may have been driven by another rise by the copper price overnight. The metal rose beyond US$9,000 a tonne overnight on the LME, taking it to a six-month high. This has been driven by optimism that China's reopening will underpin increased demand from the world's top consumer.

The post Why Integrated Research, Macquarie, Pilbara Minerals, and South32 shares are pushing higher appeared first on The Motley Fool Australia.

At the time of writing, shares in the performance management software solutions provider are 15.4% in the red at 57.5 cents apiece. In stark contrast, the S&P/ASX 200 Index (ASX: XJO) is 0.23% better off than where it finished Friday afternoon.

Today's fall is yet another blow to the Integrated Research share price, taking it down 74% in the past year. The selling pressure has mounted following a disappointing downgrade in guidance, as shared in the company's FY22 trading update.

Setting lower expectations

Concerned Integrated Research shareholders are selling out today as the company pulls back the curtain on performance. It appears the FY22 full year is shaping up to be a letdown compared to last year based on the latest trading update.

While specific guidance couldn't be given that a large portion of sales are concentrated to the end of the financial year, Integrated Research did guide compared to the previous year.

According to the release, performance in the United States operations has not experienced the uplift that was anticipated. However, strong sales are being seen across the Asia Pacific region and the United Kingdom.

Though, Integrated Research is now expecting subdued performance compared to the prior year. Notably, new sales have underperformed expectations as customer purchasing patterns are delayed. For reference, new sales represented 37% of total contract value (TCV) year-to-date.

In light of this, pro-forma revenue is forecast to be down between 3% to 7% in FY22. Additionally, the company is expecting profitability to continue, but net profit after tax (NPAT) will likely be below that of last year.

From here, the next key update is anticipated to hit the ASX in mid-July. This will follow the end of the FY22 financial year for Integrated Research.

How does the Integrated Research share price compare?

Currently, Integrated Research is trading on a price-to-earnings (P/E) ratio of 12.2 times. This compares to an average 29.1 times ratio for the Australian software industry.

While it might appear 'cheap' on a fundamental basis, it is important to consider that the company's earnings have been declining during the last 18 months. For example, at the end of June 2020, Integrated Research posted earnings of $24.05 million. Whereas, at the end of December 2021, this figure was down to $9.59 million.

The Integrated Research share price is down 55% since the beginning of the year.

The post Why the Integrated Research share price is cascading 15% today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Imugene Limited (ASX: IMU)

The Imugene share price has continued its slide and is down a further 6% to 16.5 cents. This means that the biotech company's shares are now down over 60% since the start of the year. Valuation concerns have been weighing on its shares. There may also be fears that this trend could continue given its market capitalisation of almost $1 billion and no revenue.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price has sunk 15% to 57.5 cents. This morning the global provider of user experience and performance management solutions revealed that trading conditions have been tough. As a result, it no longer expects to deliver profit growth in FY 2022.

Monash IVF Group Ltd (ASX: MVF)

The Monash IVF share price is down a further 5% to $1.01. This fertility treatment company's shares have now fallen 14% since the release of a disappointing trading update last week. That update revealed that the current environment has negatively impacted stimulated cycle activity and profitability between January to April as patients defer treatment.

Step One Clothing Ltd (ASX: STP)

The Step One share price has crashed 55% to 21.5 cents. Investors have been selling this underwear retailer's shares after it revealed that its expansion into the UK, US, and women's markets hasn't gone to plan. As a result, it expects to fall well short of its earnings guidance in FY 2022. This appears to have led to investors doubting that Step One has what it takes to successfully expand outside Australia. The company's shares are now down 86% from its November IPO price of $1.53.

The post Why Imugene, Integrated Research, Monash IVF, and Step One shares are sinking appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:

Electro Optic Systems Hldg Ltd (ASX: EOS)

The Electro Optic Systems share price is up 3% to $4.18. This follows the announcement of a series of new contract wins. According to the release, Electro Optic Systems has been awarded $20 million worth of contracts with the Australian Defence Force. The contracts cover advanced technology research and development activities in electro-optic sensors, EM Solutions Cobra terminals, and sustainment. These contracts will be delivered over the next 24 months under standard payment terms.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price has jumped 10% to $2.16. Investors have been buying the performance management software company's shares following the release of an update after the market close yesterday. Integrated Research expects to report full year revenue and profit ahead of its guidance in FY 2021. Management advised that this outperformance was driven by a number of new contract signings and renewals that closed toward the end of the reporting period.

Michael Hill International Ltd (ASX: MHJ)

The Michael Hill share price is up 5% to 85.5 cents. This follows the release of the jewellery retailer's fourth quarter update this morning. Michael Hill advised that quarterly same store sales were up 7.5% against the prior year and up 116.3% on an all store sales basis.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is up 4% to $2.15. This follows a positive response to its fourth quarter update from a number of brokers. One of those was the team at Bell Potter. This morning the broker retained its buy rating and lifted its price target on the coal miner's shares to $2.50. It believes the current strength in thermal coal markets and ongoing strong performance at Maules Creek should enable the company to rapidly deleverage its balance sheet.

The post Why EOS, Integrated Research, Michael Hill, & Whitehaven Coal are charging higher appeared first on The Motley Fool Australia.

Investors will now be hoping that the Integrated Research share price builds on this on Friday following the release of a trading update after the market close.

What did Integrated Research announce?

The company notes that in late June it provided guidance for full year revenue in the range of $74.1 million to $79.1 million and full year profit after tax in the range of $4.1 million to $7.1 million.

According to today's update, management is now expecting its revenue to be at the top end of its guidance range and its profit after tax to be a touch ahead of its guidance range.

Positively for the Integrated Research share price, the company also notes that its net cash has increased over the last 12 months. It stood at $5.5 million at the end of June 2021, up from $4.7 million in June 2020.

What were the drivers of this outperformance?

Management advised that this outperformance was driven by a number of new contract signings and renewals that closed toward the end of the reporting period.

In addition to this, unrealised exchange gains over the month of June were a contributing factor to its profit exceeding its guidance range.

What about the future?

Integrated Research advised that it continues its transformation with the launch of new cloud-based products to drive long term growth and recurring subscription revenues.

It also revealed that it recently added new customers with these new solutions. This includes support for the Microsoft Teams and Zoom environments. And as anticipated, a new solution for Webex was released in June.

In light of this, management expects further growth in its customer base in FY 2022.

The Integrated Research share price has lost almost half of its value over the last 12 months. Shareholders will no doubt be hoping this is an inflection point for its shares.

The post Integrated Research (ASX:IRI) share price on watch after beating FY 2021 guidance appeared first on The Motley Fool Australia.

Four ASX shares that have not let that hold them back today are listed below. Here's why they are pushing higher:

Boral Limited (ASX: BLD)

The Boral share price is up 1.5% to $6.88. This morning the building products company announced that it has entered into an agreement with a subsidiary of Westlake Chemical Corporation to sell its North American Building Products business for US$2.15 billion (~A$2.9 billion). This is expected to lead to a significant surplus in capital, which could be returned to shareholders via a distribution.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price is up 3% to $1.96 following the release of a trading update. This morning the user experience and performance management solutions provider advised that it expects its second half performance for FY 2021 to be significantly improved on the first half. Integrated Research expects its profit after tax to be in the region of $4 million to $7 million, up from $0.1 million in the first half.

Swick Mining Services Ltd (ASX: SWK)

The Swick Mining share price has jumped 20% to 19 cents. This morning the drilling services company revealed that its strong performance has continued in the second half. As a result, it expects full year revenue to be between $153 million and $156 million, with EBIT coming in between $14 million and $16 million. This compares to an EBIT loss of $2.8 million in FY 2020.

Swoop Holdings Ltd (ASX: SWP)

The Swoop share price is up 3% to 94 cents. This follows news that the junior telco has signed an agreement to acquire 100% of Victoria-based wireless broadband provider, Kallistrate (Speedweb). Swoop will pay a consideration of $1.75 million, comprising $1.225 million in cash and $525,000 in Swoop shares.

The post Why Boral, Integrated Research, Swick, & Swoop shares are pushing higher appeared first on The Motley Fool Australia.

A trading update from the company regarding its FY21 second-half performance is the latest news from the provider of user experience and performance management solutions.

Prior to market open, the Integrated Research share price was sitting at $1.90. At the time of writing, the company's shares are swapping hands at $2.02, up 5%.

For better and worse

According to the release, the company expects its second-half performance for FY21 to be significantly improved on the first half.

Integrated Research is anticipating second half revenue to fall between $40 million and $45 million. This would be higher than the $34.1 million in revenue reported during the front half of the financial year.

Likewise, profit after tax is expected to be somewhere in the ballpark of $4 million to $7 million, compared to $0.1 million in the first half.

However, it's not all sunshine and rainbows for the company. While the updated revenue and earnings guidance is ahead of the first half, it remains lower than the prior corresponding period in FY20.

For that reason, despite the improvement in the last half of trading, Integrated Research reckons its full year performance will be down on the last year. On the top line, the range is $74.1 million to $79.1 million – compared to $110.9 million in FY20.

On the earnings side, the company is forecasting $4.1 million to $7.1 million – compared to $24.1 million in FY20.

Influencing the numbers

Integrated Research has experienced a few speed bumps recently that is slowing down the performance of its IT solutions business.

The uncertain environment created by COVID-19 has led to customers requiring shorter-term contracts, tight budget conditions and approval processes, and delays to purchasing decisions. These hurdles have stifled performance in recent trading.

However, on a positive note, the company stated, "License fee revenue recognised in 2H to date already exceeds 1H with June being the strongest revenue month for the company."

Integrated Research share price recap

The last year has been a tough one for Integrated Research shareholders. After quickly rebounding out of its depressed COVID lull, the Integrated Research share price reversed again.

As of today, the Integrated Research share price is down 45% for the past 12 months. This compares to the S&P/ASX 200 Index (ASX: XJO), which has surged 23% during the same timeframe.

The post Integrated Research (ASX:IRI) share price jumps 5% on trading update appeared first on The Motley Fool Australia.

However, zooming out and it becomes clear that today's moves are just some sugar on what has been a very unpleasant sandwich investors have had to endure over the past year. Even after today's gains, Integrated Research shares are still down more than 50% from the company's 52-week high of $4.92 that we saw back in August last year. They are also at a similar level to what you could have purchased them for back in 2015.

So who is this company? And why are Integrated Research shares doing so well today?

A well-integrated company?

Integrated Research is a company that trades in IT solutions. It writes and sells software platforms that assist business clients in simplifying and optimising their digital operations and data. It does so through three product offerings: IR Collaborate, IR Infrastructure and IR Transact. All three of these products are available through Integrated Research's Prognosis platform.

The company can boast some A-list clients, including Commonwealth Bank of Australia's (ASX: CBA) BankWest, the US telco Verizon Communications Inc (NYSE: VZ), Ford Motor Company (NYSE: F) and the US pharmacy chain Walgreens of Walgreens Boots Alliance Inc (NASDAQ: WBA).

Software-as-a-Service (SaaS) companies have been very popular with ASX investors in recent years. But, as we touched on earlier, things haven't been going Integrated Research's way over the past year or two. the company was hard hit by the coronavirus pandemic last year. Business closures and purchasing deferrals have resulted in revenue and profit writedowns for the company. A sharply rising Aussie dollar over the past year or so also hasn't helped.

In fact, it was only last month that Integrated Research gave us a half-year earnings update for the six months to 31 December 2020. In this update, Integrated Research told investors that revenues were down 56% on the prior corresponding period. While net profits after tax had collapsed 99% to $129,000.

Why are Integrated Research shares up today then?

At first glance, it's not entirely obvious why Integrated Research shares are rising so enthusiastically. The last piece of official news out of the company came back on 22 March. That was a notice that Integrated Research's chair Paul Brandling had resigned from the company effective 20 March. He has been replaced as chair by Peter Lloyd.

The only clue we have to today's massive share price movement is trading data from the ASX. ASX data shows that trading volume today is, at the time of writing, sitting at 448,000 shares. That's well above the company's 5-day average of ~190,000 shares, and well exceeding Friday's number of 142,000 shares. This could be indicating that a large fund manager or other institutional investor has been initiating a large positioning in the company.

Whatever the cause, it has been an indisputably good day for Integrated Research shareholders. On the current share price, the company has a market capitalisation of $408.15 million.

The post ASX stock of the day: Integrated Research (ASX:IRI) shares up 7% appeared first on The Motley Fool Australia.

Here are some of the highlights from inside and outside the ASX 200:

Objective Corporation Limited (ASX: OCL)

The Objective Corporation share price went up 4% in reaction to a profit update for the first half of FY21.

Based on management accounts produced for the six months to 31 December 2020, the company expects to report revenue growth of 40% to $46.5 million in its upcoming report. The annual recurring revenue rose by 30% to $70.1 million. It also said that its research and development investment went up 45% to $11.1 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) went up 74% to $11.8 million and net profit after tax (NPAT) grew by 70% to $7.2 million.

The company said that its cash balance was $27.7 million at 31 December 2020.

Objective Corporation's CEO, Tony Walls, commented on potential customer wins: "Engaging on some new customer opportunities proved more difficult than usual in the first half of FY21, but we expect the strong momentum demonstrated in the first half to continue for the full financial year."

Integrated Research Limited (ASX: IRI)

The Integrated Research share price went up 1% after the company gave an update about its FY21 half-year result.

The company is in the early stages of preparing its interim financial statements for the six months ending 31 December 2020. Based on internal management accounts and subject to audit review, the company anticipates both revenue and profit after tax to be at the lower end of the guidance provided.

That guidance was that revenue for the first half would be in the range of $34 million to $37 million, compared to the prior corresponding period of $53.2 million. The guidance for profit after tax is expected to be in the range of breakeven to $2 million, compared to the prior corresponding period of $11.8 million.

Integrated Research said that it had a cash balance, net of debt, at 31 December 2020 was $1.7 million. Cash receipts from customers for the period exceeded $40 million and there were no material doubtful debt exposure arising during the period.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price fell almost 12% before the company went into a trading halt.

It was the target of a short attack from Viceroy Research that said that the issues Tyro is experiencing with its payment terminals is worse than what is being reported.  

Tyro is currently going through the process of trying to fix the issue by collecting the terminals from merchants, fixing them and giving them back.

The company said that Viceroy's report contained false assertions contrary to the company's recent disclosures.

Next week Tyro intends to provide the ASX with an update about the progress of its recovery plan, an update about its transaction values and a position statement in relation to the assertions, which Tyro said is false.

Afterpay Ltd (ASX: APT)

The Afterpay share price went up another 10% today to finish just over $133. It was the top performer in the ASX 200. The strength of the Affirm share price in the US has really helped push the Afterpay share price higher.

Afterpay's market capitalisation rose above the market capitalisation of Telstra Corporation Ltd (ASX: TLS) as it continued to strength.

The Afterpay share price has gone up 20.8% over the last two days.

The post ASX 200 ends flat on Friday appeared first on The Motley Fool Australia.

At the time of writing, the user experience and performance management solutions provider's shares are down 2.5% to $2.42

Why is the Integrated Research share price dropping lower?

Investors have been selling the company's shares this morning following the release of an update on its guidance for the first half of FY 2021.

At the end of December, the Integrated Research share price crashed lower after it revealed that its trading performance had been below expectations due to a continuation of customers deferring purchasing decisions.

In light of this, it provided guidance for half year revenue in the range of $34 million to $37 million and profit after tax in the range of breakeven to $2 million. This compared to revenue of $53.2 million and profit of $11.8 million in the prior corresponding period.

This morning the company advised that it is in the early stages of preparing its interim financial results. Based on internal management accounts and subject to audit review, it anticipates both revenue and profit after tax to be at the lower end of its guidance range.

It notes that the AUD/USD exchange rate strengthened by another cent on the last day of the year, resulting in further unrealised exchange losses.

This means that Integrated Research is expecting revenue of ~$34 million and no profits for the half. This represents a 36% and 100% decline, respectively, on the prior corresponding period.

At the end of December, the company's cash balance (net of debt) stood at $1.7 million. This is down from $4.7 million at the end of June.

New product launch.

Management also advised that the company has expanded its Collaborate product line with the release of new cloud solutions for Microsoft Teams and Zoom.

A further update on its cloud-based solutions will be provided at the formal half year results announcement scheduled for 18 February 2021.

The post Why the Integrated Research (ASX:IRI) share price is dropping lower appeared first on The Motley Fool Australia.

Here are some of the highlights from the ASX:

Integrated Research Limited (ASX: IRI)

The Integrated Research share price fell 13.25% today after giving investors an update.

The company reminded investors that it had made a continuous disclosure announcement on 18 December 2020 providing revenue and profit estimates for the half year ending 31 December 2020. At the time, Integrated Research said that the range of estimates for revenue and profit were wide because of the unpredictability of business closure in the remaining weeks of December.

The trading performance since that announcement has been below expectations with a continuation of customers deferring purchasing decisions. As a consequence, the company has revised its estimates downwards.

Integrated Research said that it's anticipating revenue for the first half to be in the range of $34 million to $37 million, compared to $53.2 million for the prior corresponding period.

Profit for the first half is anticipated to be in the range of breakeven to $2 million, down from $11.8 million in the prior corresponding period.

Integrated Research anticipates making a further update on the unaudited results before mid-January with the half-year result expected to be announced on 18 February 2021.

Cooper Energy Ltd. (ASX: COE) and APA Energy (ASX: APA)

Cooper Energy confirmed today that the remaining Sole gas sales agreements (GSAs) will commence on 1 January 2021. Sole gas is processed at the Orbost Gas Processing Plant (OGPP) operated by APA Group.

The long-term GSAs with utility and industrial customers total 19.75 PJ (petajoules) annual contract quantity in 2021. The take-or-pay obligations are a minimum quantity of approximately 90% of the total annual contracted volume.

The commencement of these remaining GSAs means that most Sale gas will now be sold at agreed term contract prices. Prior to commencement of the GSAs, Sole gas was being sold at lower spot prices, less transportation costs, with revenue and costs shared between Cooper Energy and APA as per a previous agreement.

Cooper Energy managing director David Maxwell said: "The commencement of the Sole GSAs is a significant milestone which will deliver a material step-change in production, revenue, cash flow and earnings.

"We are pleased to be increasing gas supply to our utility and industrial customers and providing a competitive new source of gas to the domestic market. We are grateful for the strong support shown by our customers during what has been a longer than expected commissioning phase for the Orbost Gas Processing Plant."

Other major movers

It was a quiet news day on the ASX 200 today.

The worst performers were: the Growthpoint Properties Australia Ltd (ASX: GOZ) share price which fell 4.3%, the Afterpay Ltd (ASX: APT) share price fell 3.6%, the Spark Infrastructure Group (ASX: SKI) share price dropped 3.2%, the APA Group share price dropped 2.9% and the Bravura Solutions Ltd (ASX: BVS) share price declined 2.7%.

At the top end of the ASX 200 performance table, the United Malt Group Ltd (ASX: UMG) share price rose 2.7%, the Sims Ltd (ASX: SGM) share price rose 2.5%, the Abacus Property Group (ASX: ABP) share price went up 2.4%, the Boral Limited (ASX: BLD) share price rose 2.3% and the Beach Energy Ltd (ASX: BPT) share price grew 2.2%.

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Four shares that have fallen more than most today are listed below. Here's why they are dropping lower:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down 3% to $118.58. This decline appears to be a combination of weakness in the tech sector and profit taking after some strong gains. Despite today's decline, the Afterpay share price is still up a whopping 286% since the start of the year.

DEXUS Property Group (ASX: DXS)

The DEXUS share price has fallen 3% to $9.46. The majority of this decline is attributable to the property company's shares trading ex-dividend this morning for its interim dividend. Eligible shareholders can now look forward to receiving this 28.8 cents per share unfranked dividend in their accounts on 26 February. A number of other property companies are trading lower for the same reason on Wednesday.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price has crashed 13% lower to $2.62. Investors have been selling the performance management solutions company's shares after it downgraded its guidance just 12 days after giving it. Integrated Research now expects first half revenue to be in the range of $34 million to $37 million and first half profit to be in the range of breakeven to $2 million. On the top line, this will mean a decline of 30.5% to 36% compared to the first half of FY 2020. Whereas on the bottom line, this will be an 83% to 100% decline on the prior corresponding period.

Regis Healthcare Ltd (ASX: REG)

The Regis Healthcare share price has dropped 4.5% to $1.89. This is despite there being no news out of the aged care operator on Wednesday. However, this decline has merely reversed all of Tuesday's gains, which also occurred on the back of no news.

The post Why Afterpay, DEXUS, Integrated Research, & Regis Healthcare are dropping lower appeared first on The Motley Fool Australia.

At the time of writing, the performance management solutions provider's shares are down 9% to $2.75.

What did Integrated Research announce?

Investors have been selling the company's shares this morning after it provided an update on its guidance for the first half of FY 2021.

Just 12 days ago, Integrated Research revealed that it was expecting revenue for the first half to be in the range of $41 million to $47 million. This would be down 11.6% to 23% on the prior corresponding period.

An even greater decline was expected on the bottom line, with profit for the first half expected in the range of $5 million to $8 million. This represents a 32.2% to 57.6% decline on the prior corresponding period's profit of $11.8 million.

At the time, management warned that the range of estimates for revenue and profit remain wide due to the unpredictability of business closures in the remaining weeks of December.

Well, unfortunately for shareholders, it seems that these guidance ranges were not wide enough.

This morning, less than two weeks after giving this guidance, Integrated Research has announced that it expects to fall short of it.

According to the release, its trading performance since 18 December has been below expectations with a continuation of customers deferring purchasing decisions.

As a result, the company now expects revenue for the first half to be in the range of $34 million to $37 million and profit for the first half to be in the range of breakeven to $2 million.

On the top line, this will mean a decline of 30.5% to 36% compared to the first half of FY 2020. And on the bottom line, this will be an 83% to 100% decline on the prior corresponding period.

The post Why the Integrated Research (ASX:IRI) share price crashed 9% lower appeared first on The Motley Fool Australia.

It has been a somewhat volatile year for the S&P/ASX All Technology Index (ASX: XTX) member. Shares in the company were hard hit by the pandemic but rebounded strongly to a price of $4.92 in August. That is were the good news ended however, with Integrated Research shares falling 39% since then. This means, at its current level, the Integrated Research share price is in the red for the year, down by 9.6%.

What Integrated Research does

Integrated Research is a global business that supports some of the largest companies in the world. It is specifically involved in the design and implementation of technology that optimises business operations, predicts disruptions, and automates business processes.

Thus, in essence, the company assists organisations to reduce the complexity and improve the transparency of their operations. 

Based in Sydney, the Aussie growth company now boasts more than 1,000 customers in over 60 countries.

What happened?

This morning the software provider confirmed that, as a result of deteriorating trading conditions, its revenue for the first quarter of FY21 is below that of the prior corresponding period (pcp). As such, Integrated Research essentially updated the market confirming what was hinted at during its 2020 annual general meeting (AGM).

The company stated that, based on unfavourable exchange rate movements and year-to-date trading, anticipated revenue for the first half of FY21 has been reduced to $41 to $47 million. Revenue for the pcp was $53.2 million. As a result of the decrease in revenue, lower profits of between $5 to $8 million are also predicted, compared with profit in the pcp of $11.8 million. 

Foolish takeaway

In addition to today's news, Integrated Research has also suffered other setbacks in 2020. As noted at the company's AGM, ongoing global disruption and uncertainty surrounding COVID-19, including widespread business closures, has seen sales cycles lengthen and some customers defer purchasing decisions.

The Australian Dollar has also performed strongly this year, gaining 12% in just six months. And, according reporting in The Australian Financial Review, there may be more hurt ahead for Integrated Research in this regard, with the AFR saying the Australian dollar could surge as high as 85 US cents.

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