Highlights of the day: 23 May

April 21, 2024

FinMeUp highlights of the day


Barloworld Limited- Interim results for the six months ended 31 March 2022
Normalised group HEPS up from 402 cents to 784 cents.
Normalised HEPS from continuing operations up by 178 cents to 465 cents.
Group revenue down 19% to R23.2 billion.
Revenue from continuing operations up 13.6% to R18.4 billion.
Operating profit up 35% to R2.8 billion.
Enhanced group ROIC of 14.1%, compared to 3.8% reported in the comparable period.
The board declared an ordinary dividend of 165 cents per share.
Barloworld has written down the value of its Russian business by R1 billion.

Netcare Limited- Unaudited interim group results for the six months ended 31 March 2022
Revenue up 2.3% to R10.3 billion.
Operating profit up 12.8% to R1.03 billion.
Group EBITDA up 8.1% to R1.6 billion.
Basic EPS up 16.7% to 30.7 cents.
Interim dividend per share of 20.0 cents.
Dis-Chem Pharmacies Limited
Group revenue up 15.7% to R30.4 billion.
EPS increased 27.6% to 99.2 cents.
A final dividend of 20.2 cents per share was declared.

Adcorp Holdings Limited- Updated trading statement for the twelve months ending 28 February 2022
HEPS is expected to increase to between 96.0 cents and 102.8 cents, representing an increase of between 61.8 cents and 68.6 cents.
EPS is expected to increase to between 105.5 cents and 112.7 cents, representing an increase of between 69.9 cents and 77.1 cents.

Zeder Investments Limited
Zeder unbundled 31 286 956 Kaap Agri no par value ordinary shares, comprising approximately 42.2% of the total issued share capital of Kaap Agri, to shareholders of Zeder.
It will be done in the ratio of 1 Kaap Agri share for every 49.22692 Zeder Shares held by Shareholders.

Chinese crackdown
Shares of US listed Chinese stocks were mostly trading in the red on Monday.
This is due to Beijing showing concerns of more Covid-19 lockdowns.
According to Global times, Chinese authorities have imposed a lockdown in the Haidian, Chaoyang, Fengtai, Shunyi and Fangshan districts.
Strict lockdowns have resulted in a slowdown in the tech stocks.

Elon Musk says Tesla is building a litigation department focused on initiating and executing lawsuits.
In other Tesla news, the company is also apparently making progress with its plan to establish a supercharger and diner/drive in theatre location in Hollywood.
Tesla plant in Shanghai to increase daily output from 1K to 2.6K.

Warren Buffet has bought shares in HP
This is an example of a classic Warren Buffet investment, with an easy to understand business model, good return on capital and excellent potential for compounding.
Berkshire Hathaway disclosed that it now owns 11.5% of the companys outstanding shares,

Coinbase co-founder Fred Erhsam has been buying the dip in shares of the cryptocurrency exchange.
A form 4 filing shows that Ehrsam has acquired 706 000 shares at an average price of $70 on May 13th and a further 385 000 shares at an average price of 65 on May 17th.
Coinbase are currently trading 80% lower than its all-time high of $342.

Hyundai Motors announced on Sunday that it plans to spend $5 billion in the U.S on developing mobility solutions such as autonomous driving and robotics.
Last week, Hyundai said it would spend $5.4 billion to build its first dedicated electric vehicle and battery manufacturing facilities in the US.
The investment is part of a larger plan for Hyundai to advance mobility electrification more broadly.

Elon Musk says Twitter is refusing to tell him how they calculated that only 5% of users are bots/spam.

ARK Innovation ETF
Following a drop of Teslas share price, Teslas weighting in the ETF has dropped from first to second position.
Teslas weighting in the ETF is currently at 8.21% with a value of $702 million.
This is due to the fund actively selling Tesla shares as well as the reduction in Teslas share price.

GameStop announced the launch of its digital wallet for crypto and NFTs today.

Marvel's Doctor Strange in the Multiverse of Madness is now the highest-grossing film of 2022 at the global box office passing The Batman.

eBay launches first collection of NFTs.

Starbucks will fully exit Russian market.
Starbucks has 130 locations in the country and plans to pay its nearly 2,000 Russian workers for 6 months according to CNBC.

Biggest winners and losers: 
Impala Platinum +6.24%
Alphamin -9.76% 

Ross Stores +7.37%
Autodesk -8.44% 

Bitcoin +0.9%
Ethereum +2.0%
BNB +3.7%

Our weekly newsletter discusses the highlights of the week, as well as a brief overview of the best content posted on the app for the week. To sign up, feel free to visit our website: https://www.finmeup.co.za/, or click directly on the following link: https://bit.ly/FinMeUp_Newsletter

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