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.
Expert Interview: Magellan's Hamish Douglass
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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At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.