Aristocrat – Algo Buy
Aristocrat Leisure is under Algo Engine buy conditions.
Gold Road – Buy
Gold Road Resources is under Algo Engine buy conditions.
Northern Star – Buy
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US Data
“At this stage, we believe the Fed has pivoted to an appropriately hawkish stance and is likely done surprising markets for a while,” Bank of America said. “We recommend focusing more on the data flow going forward, especially around labour and inflation.”
U.S. buybacks
New repurchase announcements by U.S. companies reached over $300 billion in the first quarter, with March showing a strong year over year increase.
Analysts on average expect S&P 500 companies’ earnings to have grown 6.4% in the March quarter
Goldman Sachs in a report last month estimated S&P 500 companies in 2022 will spend $1 trillion buying up their own shares.
Qantas – ASX Model Holding
Domestic travel is returning to pre-COVID levels ahead of expectations with Qantas upgrading guidance.
Demand for international travel continues to recover, particularly as more restrictions ease. Removal of Australia’s pre-flight testing requirement and early opening of New Zealand’s borders provided tailwinds during April.
FY24 EBITDA is forecast to exceed pre-pandemic levels.
Treasury Wines – Algo Buy
Treasury Wine Estates remains under Algo Engin buy conditions.
Treasury has significant earnings growth opportunities driven by the re-opening of higher-margin channels which were disrupted due to Covid.
Xero – Accumulate
Xero is under Algo Engine buy conditions. Buying support is likely to build within the $85 to $95 price range.
Northern Star – Buy
Northern Star Resources is under Algo Engine buy conditions.
U.S. buybacks
New repurchase announcements by U.S. companies reached over $300 billion in the first quarter, with March showing a strong year over year increase.
Analysts on average expect S&P 500 companies’ earnings to have grown 6.4% in the March quarter
Goldman Sachs in a report last month estimated S&P 500 companies in 2022 will spend $1 trillion buying up their own shares.
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