The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) rose by 0.29% on Tuesday.
Australian Dollar ($A) (AUDUSD): 69.95US cents
Dow Jones (DJI): up 0.26%
Oil (WTI): $US56.65 per barrel
Gold: $US1,388 per ounce
ASX Sharemarket News
In ASX sharemarket news, telco Vocus Group Ltd (ASX: VOC) has announced details of its turnaround strategy.
The company reaffirmed its FY19 guidance, with underlying EBITDA (click here to learn what EBITDA means) expected to be between $350 million and $370 million.
Vocus has also provided FY20 guidance with underlying EBITDA expected to be between $350 million and $370 million. EBITDA growth of $20 million to $30 million is expected in the core Vocus Network services business, with a similar decline in Vocus Retail.
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Woolworths Group Ltd (ASX: WOW) has announced it intends to combine its drinks and hospitality businesses, Endeavour Drinks and ALH, into a single entity.
After the business is separated Woolworths said it intends to pursue a separation of the business through a demerger or “other value-accretive alternatives.”
The separation is expected to take place into calendar year 2020.
The idea behind for the move is for Woolworths to benefit from a simplified organisational structure with a greater focus on its core supermarket business.
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Pushpay Holdings Ltd (ASX: PPH) shares have gone into a trading halt to facilitate the partial sell down of shares of Chris Heaslip as he transitions to become a non-executive director as he has previously announced his resignation from the CEO position.
He will be selling 12.24 million shares, which is around 4.45% of Pushpay, which is 41.2% of Mr Heaslip’s holding.
The partial sell down is fully underwritten and will make Pushpay shares more liquid with more available shares for trading on the market.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.