2019 ASX Reporting Season Calendar

Links to ASX Reporting Season Calendar

Bellpotter

https://www.bellpotteronline.com.au/bpo/february-2019-reporting-season

Morgans
Below is our Reporting Season Calendar for February 2019, including reporting dates and recommendations and comments from our award-winning Research team.

For detailed analysis on the company results released during Reporting Season February 2019, visit:

• Morgans blog
• Morgans YouTube channel

https://www.morgans.com.au/research-and-markets/reporting-calendar

Commonwealth Bank

https://www.commsec.com.au/reportingseason

 

https://www.theage.com.au/business/markets/2-7b-on-the-line-as-asx-s-most-shorted-stocks-report-results-20190210-p50wv7.html?promote_channel=edmail&mbnr=MzIxMDQyMQ&eid=email:nnn-13omn658-ret_newsl-membereng:nnn-04/11/2013-business_news_am-dom-business-nnn-age-u&campaign_code=13IBU020&et_bid=29163701&list_name=2033_age_busnews_am&instance=2019-02-10--19-54--UTC

$2.7b on the line as ASX's most shorted stocks report results
By William McInnes
February 11, 2019 — 12.05am

Investors are poised for a big week of earnings, with a number of the local sharemarket's most shorted stocks set to report their results this week.

JB Hi-Fi, Super Retail Group, IOOF Holdings, Amcor, Bendigo & Adelaide Bank and AMP will all report earnings this week, with a combined $2.7 billion sitting in short positions against them.

The local sharemarket is set for a mixed start to the week's trading, with ASX Futures sitting 4 points, or 0.1 per cent, lower at 6007 on Sunday.

While AMP, IOOF Holdings and Bendigo & Adelaide Bank all closed the week stronger in the wake of the royal commission final report, a disappointing retail trade print on Monday saw JB Hi-Fi shares slide.

"We've had a few retailers issue a profit warning," said Tribeca Investment Partners fund manager Jun Bei Liu. "Its share price hasn't really collapsed compared to Harvey Norman but all feedback is suggesting things are pretty tough and even in the retail sales data, the consumer electronics looked pretty weak."

The electronics retailer regularly divides investors and has more than 15 per cent of its shares held in short positions, more than any other company on the benchmark S&P/ASX 200 Index.

"The like-for-like trading into the second half will really determine where the share price goes," said Ms Liu. "It's got a good business plan but the trading environment is difficult."

Ms Liu said the results of AMP and Bendigo & Adelaide Bank would also be crucial in getting a better read on the financial sector following the royal commission's final report.

"What we've seen from Commonwealth Bank is their overall market and earnings are weak, so we expect Bendigo's margins to deteriorate and think there will be a weak result there," she said.

"For AMP, given the outcome of the royal commission, we'd like to see how they're faring and the strategic direction."

Both companies had a combined $840 million worth of their shares held in short positions as of February 4, although gains in their share prices last week could suggest investors may have exited those positions.

The first full week of earnings saw the local sharemarket climb to its biggest weekly percentage gain since November 2016, with above expectation results from a number of companies.

"So far, this reporting season has been like others," said Firetrail Investments deputy managing director Blake Henricks. "Expectations have been set fairly low so you have seen some big relief rallies in poor performers like James Hardie, Clydesdale Bank and Nick Scali."

The beginning of the earnings season also saw a flood of money injected into the market, with trading volumes 11 per cent above average for the week.

"The mood has certainly changed," said Ophir Asset Management director and senior portfolio manager Andrew Mitchell. "Everyone was bearish in December and every fund manager we spoke to was sitting on huge piles of cash. All it took was a slight change in sentiment and now fund managers have been forced to redeploy their cash into the market."

He expects shares to keep rallying as results continue to outperform the low expectations set by the market at the end of last year.

"It's early in reporting season in Australia but initial signs are the results are OK," he said. "We are seeing the value names and resources rally at the moment. Fund managers are left under-weight stocks right now and just have to redeploy cash into the market. My feeling is this could go on for a while yet, reflecting how bearish everyone was in December."

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