Mon: NAB H1, Amcor H1<\/p>\n
Tue: Westpac H1<\/p>\n
Wed: Rio Tinto AGM<\/p>\n
Thu: Orica H1, Light and Wonder<\/p>\n
Fri: Macquarie FY, REA Q3, Newscorp\u00a0 Q3, QBE & TPG AGMs<\/p>\n
It’s a busy week on the local corporate calendar as the banks’ mini reporting season continues.<\/p>\n
NAB releases its first half results this morning.<\/p>\n
It has already said there will be a $700 million impairment charge hitting the bottom line.<\/p>\n
That is likely to see its statutory net profit slip under $3 billion, although the bank’s preferred measure, cash earnings, which strips out one-offs like impairment charges, is likely to be around $3.7 billion, a 5% increase over the year.<\/p>\n
The interim dividend is expected to be unaffected, holding at 85 cents per share.<\/p>\n
Westpac posts its first-half numbers on Tuesday, and like NAB has informed the market about some notable items hitting the bottom line.<\/p>\n
Expect a net profit of about $3.5 billion, a 7% increase on a year ago, while dividends will remain around last year’s figure of 76 cps, or maybe a tad higher.<\/p>\n
Investment bank Macquarie drops its full-year results on Friday, and the profit could be north of $4.5 billion after what was likely a bumper second-half profit.<\/p>\n
JP Morgan forecast investment income jumping from about $360 million in the first half to almost $2 billion in the second.<\/p>\n
All the big US investment banks have benefited from the Iran war and stronger commodity prices, and Macquarie is likely to be no different.<\/p>\n
“We think the Iran conflict has driven more favourable conditions, supported by comments from US investment banks in recent weeks. We forecast 13% year-on-year growth for commodities income despite higher competition in this space,” JP Morgan analyst Andrew Triggs wrote in a recent note.<\/p>\n
Other results of interest will be global packaging giant Amcor (Monday), explosives maker Orica (Thursday), which is closely tied to the fortunes of miners, the dual-listed, US-based gaming machine maker Light and Wonder (Thursday), while\u00a0Newscorp and its virtual ( and profitable) subsidiary REA\u00a0(Friday) release third quarter numbers.<\/p>\n
Rio Tinto will hold its AGM on Wednesday. It’s a hybrid meeting out of Perth at 4pm AEST.<\/p>\n
One of the more interesting AGMs will be the life insurance outfit Helia (Thursday). It suffered a big protest vote last year.<\/p>\n
There’s still a bit of action on the US earnings front after last week’s blockbuster roster.<\/p>\n
Chip maker AMD, data analytics AI firm Palantir, entertainment business Disney and burger-flipper McDonalds are some of the ones to watch.<\/p>\n","protected":false},"excerpt":{"rendered":"Mon: NAB H1, Amcor H1 Tue: Westpac H1 Wed: Rio Tinto AGM Thu: Orica H1, Light and Wonder…\n","protected":false},"author":2,"featured_media":647985,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[2001,64,63,166,2009,99,2003,2005,164,160,2010,171,2007,2006,2008,2002,2004,1491],"class_list":["post-647984","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-asx","tag-au","tag-australia","tag-australian-dollar","tag-bitcoin","tag-business","tag-dollar","tag-dow-jones","tag-economy","tag-live-blog","tag-live-update","tag-markets","tag-nasdaq","tag-nyse","tag-sp","tag-share-market","tag-stocks","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/647984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=647984"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/647984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/647985"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=647984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=647984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=647984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}