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Molson Coors Beverage reported a net margin of 8.17% and a return on equity of 9.34%, with quarterly revenue of $2.30 billion, falling short of analyst estimates. The company announced a quarterly dividend of $0.47, yielding 3.31%, and has a dividend payout ratio of 37.83%. Analysts have downgraded the stock to a "hold" rating, with an average target price of $62.71.
JPMorgan Chase & Co. raised its price target for DuPont de Nemours from $78 to $93, maintaining an "overweight" rating, while Wells Fargo lowered its target from $105 to $81, also with an "overweight" rating. Analysts show a "Moderate Buy" average rating for the stock, with a target price of $85.15. DuPont reported a quarterly EPS of $1.03, exceeding estimates, and announced a dividend of $0.41 per share, reflecting a 2.37% yield.
UBS Group AG has reduced its voting power in Mayne Pharma Group from 8.79% to 7.26%, a shift that may affect the company's shareholder dynamics and strategic decisions. The latest analyst rating for Mayne Pharma stock is a Buy, with a price target of A$7.09.
Kering appoints Pierpaolo Piccioli as the new artistic director of Balenciaga, while Casino faces ongoing debt concerns. UBS is likely to lose its initial battle against stricter prudential requirements in Switzerland, and Vodafone's results fall short of expectations despite a projected recovery. In North America, Moody's downgrades the credit ratings of major banks following the US credit rating downgrade.
The Australia 200 index rose 0.60% to 8345 following a dovish 25 basis point interest rate cut by the RBA, bringing the cash rate to 3.85%. The RBA noted global uncertainties impacting economic activity and revised its inflation and GDP growth forecasts downward, while signaling potential further cuts ahead. Key upcoming data releases will influence the RBA's next decision on July 8.
The World Angus Forum returned to Australia after 30 years, uniting global Angus breeders in Tamworth and Brisbane for insightful discussions and networking. Rabobank, as the exclusive financial sponsor, showcased its commitment to agriculture through engaging sessions, including Cattle Chats and a youth debate, while addressing industry challenges and opportunities. Key speakers highlighted the importance of investing in personal and business growth amidst high cattle production and market dynamics.
TechnologyOne reported a 31% increase in net profit to $63 million for the first half of the year, with recurring revenue rising 90% to $265 million. The company has upgraded its full-year profit growth forecast to 12%-16% and is targeting $1 billion in recurring revenue, driven by its Software as a Service (SaaS) model and expansion in the UK market. Analysts view TechnologyOne as a strong long-term investment despite its high valuation, noting that historical pullbacks present buying opportunities.
Fisher & Paykel Healthcare Corporation's shares fell 3.31% to $32.38 after UBS downgraded its rating from 'buy' to 'neutral'. The downgrade reflects a belief that the current share price accurately represents limited tariff impacts and anticipated strong earnings per share growth. UBS has, however, increased the 12-month price target from NZ$37.3 ($34.26) to NZ$39 ($35.83).
Australia is open to negotiating a free trade agreement with the EU, but insists on better terms, particularly regarding agricultural access. Prime Minister Anthony Albanese recently discussed this with EU Commission President Ursula von der Leyen, following a previous failed agreement due to inadequate market access for Australian agricultural products. The Australian Farmers' Federation emphasizes the need for the EU to improve its offer to address ongoing concerns about limited market access and excessive conditions.
IG offers a comprehensive suite of resources for traders, including an award-winning platform for 24/7 trading, risk management tools like stop-loss orders, and access to educational materials through IG Academy. Traders can engage with over 13,000 shares via CFDs or share trading, while expert analysis keeps them informed of market movements and potential impacts from tariffs on various sectors, including automotive, technology, and pharmaceuticals. Key stocks to monitor include Ford, Apple, CSL, BHP, and NVIDIA, each facing unique challenges and opportunities amid ongoing trade tensions.
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