After nine consecutive months of interest rate rises, evidence is showing that consumer spending is only just starting to wane.

So as we stare down the barrel of a major economic slowdown in 2023, which might be the ASX shares best placed to survive — or even thrive?

Some experts this week named two stocks to buy that might just fit the bill:

'Well managed' business to recover earnings

Seneca investment advisor Tony Langford likes what Credit Corp Group Limited (ASX: CCP) brings to the table in a faltering economy.

"The company buys debt ledgers and operates in Australia, New Zealand and the United States," Langford told The Bull.

"It collects outstanding debts from consumers."

The Credit Corp share price is down 36.3% over the past 12 months.

Langford acknowledged that the last financial results were a mixed bag.

"The company's consumer loan book grew by 32% to $331 million in the first half of fiscal year 2023," he said.

"However, first half net profit after tax of $31.8 million was down 30% on the prior corresponding period."

Credit Corp, however, is a "well managed" business, and Langford has faith in its upwards trajectory.

"The company expects earnings to recover in the second half and full year net profit after tax guidance remains intact."

Cheers to a 'strong' business with 'defensive qualities'

Sequoia Wealth Management senior investment manager Peter Day favours the idea of a drink as the economy stumbles.

"Endeavour Group Ltd (ASX: EDV) operates liquor outlets, hotels and gaming facilities," he said.

"Endeavour offers strong businesses with defensive qualities."

The share price is now more than 15% lower than the last reporting season in August.

The Endeavour business, especially the hospitality side, was suppressed over the 2021/22 financial year, as various states endured anti-pandemic lockdowns.

But that makes it a strong growth contender for the current period.

"We expect a strong recovery in the hotels division in the first half of fiscal year 2023," said Day.

"Expect investment opportunities to emerge going forward. We retain our positive recommendation."

Day's peers are somewhat split on Endeavour shares.

According to CMC Markets, six out of 11 analysts rate it as a buy, while three recommend a strong sell.

The post Credit and drinks: Experts name 2 ASX shares to buy for a 2023 economic slowdown appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) spent another day in the green on Thursday, gaining 0.13% to close at 7,511.6 points.

It follows the United States Federal Reserves' decision to bump interest rates another 0.25% to 4.75%, seemingly marking a slowdown in hikes.

Staying overseas, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) led Wall Street overnight, rising 2%.

It likely comes as no surprise then that the S&P/ASX 200 Information Technology Index (ASX: XIJ) outperformed all other sectors today, rising 3.1%.

On the other hand, the S&P/ASX 200 Energy Index (ASX: XEJ) was the worst performer, falling 0.9% amid tumbling oil prices. Brent crude oil slumped 3.1% overnight while the US Nymex crude dropped 3.1% to US$76.41 a barrel.

But which ASX 200 shares posted the biggest gains of all on Thursday? Let's take a look.

Top 10 ASX 200 shares countdown

Today's top-performing ASX 200 share was tech giant Megaport Ltd (ASX: MP1). Its share price gained 11% today amid a notable tech rally.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

So, that gives us a bit of time to look at some of the ASX shares that Goldman Sachs is tipping to outperform or underperform expectations this month.

Potential to outperform

Goldman believes that the following ASX shares have the potential to outperform the market's expectations in February. Here's what it is saying:

Breville Group Ltd (ASX: BRG)

The broker has warned short sellers that this appliance manufacturer could surprise to the upside with its full year guidance this month when it releases its half year results. It said:

On Discretionary our top pick remains Breville – De'Longhi 4Q came in better than expected and the stock is likely to short squeeze on stronger than expected full year EBIT guidance at 1H23 results.

Temple & Webster Group Ltd (ASX: TPW)

Its analysts are also very bullish on this online furniture and homewares retailer. In fact, the broker not only expects a stronger than consensus half year result, it is expecting Temple & Webster to outperform over the medium term. The broker commented:

Our FY23/FY24/FY25 revenue forecasts are +2.6%/+5.2%/+3.9% ahead of the market (Visible Alpha Consensus Data). We are more constructive around the medium term revenue outlook despite category level headwinds.

Woolworths Group Ltd (ASX: WOW)

Goldman is expecting this retail giant to deliver a strong result this month. In light of this, it appears to believe the market is being too negative and that it deserves to trade on higher multiples than its arch rival. It said:

We expect an outperformance trend for WOW vs. COL in comp sales see margins beginning to come through from 2Q23 on stronger omni-channel Xmas trading as well as more targeted promotions. On GSe, WOW is trading at a similar FY23E P/E vs. COL.

At risk of underperforming

Unfortunately, Goldman isn't very positive about the prospects of these ASX shares this month. Here's why it is tipping them to underperform expectations:

Altium Limited (ASX: ALU)

This electronic design software platform provider has been tipped to fall short of the market's expectations during the first half. Goldman is expecting Altium to deliver first half EBITDA of US$43 million, which is 3.6% short of consensus estimates. Its analysts are then expecting the same for its full year earnings.

Coles Group Ltd (ASX: COL)

Another ASX share that could underperform expectations according to Goldman Sachs is Coles. It believes that margin compression is weighing on the supermarket giant's performance. As a result, although it expects Coles' sales to be a fraction ahead of the market's estimates in FY 2023, its net profit assumption is 5.2% lower than the consensus. For the first half, Goldman said:

In 1H23, we expect group sales growth of 3.7% and EBIT growth of 0.4% as we expect ~10bps margin compression to 4.6% EBIT margin.

Wesfarmers Ltd (ASX: WES)

Finally, Goldman isn't feeling very positive on this conglomerate's prospects this month due largely to its Bunnings business. It warned:

We remain Sell-rated on WES as weaker home improvement trend and negative comps in 2H23 with Bunnings, at highest risk of volume deleverage impacting EBIT margins.

The post Goldman reveals the ASX shares that could surprise to the upside (and downside) this reporting season appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price is up 5% to 66.7 cents. This morning, the lithium developer provided an update on its Rincon project in Argentina. Argosy Minerals revealed that it remains on track to start steady-state production by the end of the second quarter of calendar year 2023.

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price is up 2.5% to $22.20. This follows the release of the debt collection company's half year results. Credit Corp reported an 8% increase in revenue to $220.5 million but a 30% decline in profit to $31.8 million. The market appears to have been expecting even worse for its profits.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up 9% to $17.27. Investors have responded positively to the travel agent's plan to acquire United Kingdom-based luxury travel brand Scott Dunn for $211 million. To support the acquisition, Flight Centre has raised $180 million from institutional investors at a 7.8% discount of $14.60 per new share. Flight Centre also released a solid trading update yesterday.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up over 11% to $1.06. This morning, the biotech company revealed that it has resubmitted its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for the approval of remestemcel-L in the treatment of children with steroid-refractory acute graft versus host disease (SR-aGVHD). The resubmission contains substantial new information as required by the FDA.

The post Why Argosy Minerals, Credit Corp, Flight Centre, and Mesoblast shares are racing higher appeared first on The Motley Fool Australia.

The share price of S&P/ASX 200 Index (ASX: XJO) consumer debt business Credit Corp Group Limited (ASX: CCP) plummeted this morning after the company revealed a major profit hit.

The Credit Corp share price fell 2.6% on open to $21.09 before plunging further to its intraday low of $19.64 – marking a 10.2% dive.

Interestingly, it has since bounced back to trade at $21.75 at the time of writing, 0.51% higher than its previous close.

ASX 200 financials share wobbles as profits fall 30%  

Here are the key takeaways from Credit Corp's earnings for the first half:

• Post-tax profits tumbled 30% on the prior comparable period (pcp) to $31.8 million
• Revenue lifted 8% to $220.5 million
• Earnings per share (EPS) fell 31% to 46.9 cents
• Customer loan book grew 32% to $331 million
• Dividend slashed by 40% to 23 cents per share

While a lot of its first-half earnings look dire, the company's consumer lending segment remains on track to post record full-year earnings.

Its profits tumbled due to up-front loss provisioning and marketing expense from rapid loan book growth; costs from increased United States resourcing; and run-off in the core Australia/New Zealand debt buying segment.  

What else happened last half?

The first half was a period of growth for the ASX 200 company.

Its loan book growth was born from its Wallet Wizard unsecured cash loan product. Strong demand brought a record $201 million of lending last half while the company maintained credit standards and rationed the volume of longer-duration auto loans.

What did management say?

CEO of Credit Corp Thomas Beregi commented on the news driving the ASX 200 company's share price today, saying:

Wallet Wizard credit settings remain conservative and short durations coupled with relatively small loan sizes will contain risk should economic conditions deteriorate.

US charge-off volumes are growing and increased resourcing will enable Credit Corp to service recent and future purchases, growing collections and earnings over the medium term.

What's next?

The remainder of financial year 2023 looks like it could be better for Credit Corp. The company expects an earnings recovery in the second half, mainly due to its consumer lending segment.

Its full-year profit is tipped to come in between $90 million and $97 million while EPS is forecast to end up between $1.33 and $1.43.

It's also bolstered its purchased debt ledger acquisition guidance to between $290 million and $295 million and its net lending volumes guidance to between $140 million and $150 million.

Credit Corp share price outperforms ASX 200 in 2023

Today's tumble included, the Credit Corp share price has posted a notable 14% gain so far this year. That's compared to the ASX 200's 8% rise.

Looking further back, however, the stock has fallen 40% over the last 12 months while the index has lifted 7%.

The post Guess which ASX 200 share dropped then popped on a 30% profit dive appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) wobbled in and out of the green this afternoon before ultimately closing the day higher. The index was up 0.06% at 7,063.6 points at the end of Thursday's session.

While many miners came in among the day's top gainers, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) outperformed all other sectors, rising 0.6%.

Travel stocks led the way on the sector. Shares in Corporation Travel Management Ltd (ASX: CTD), Flight Centre Travel Group Ltd (ASX: FLT), and Webjet Limited (ASX: WEB) gained 3.7%, 3.4%, and 2.7% respectively.

Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) rose 0.4% with gold miners taking out the top spots after the yellow metal's value cracked US$1,850 an ounce overnight.

Today wasn't all green, however. The S&P/ASX 200 Energy Index (ASX: XEJ) plunged 1.3%, leaving it 3.9% lower than it was at the end of 2022.

So, with all that in mind, let's take a look at Thursday's 10 top-performing ASX 200 shares.

Top 10 ASX 200 shares countdown

Core Lithium Ltd (ASX: CXO) shares took out today's top spot with a 7.77% gain, leaving it trading at $1.11 as of the market's close.

Its surge came amid news of the maiden shipment from the company's Finniss Lithium Project.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The Australian share market was on fire today after the United States reported a softer-than-expected inflation number for October.

The implication, of course, is that interest rate rises might finally be working in the world's largest economy, and perhaps the Fed will ease up on further hikes from here.

That's cause for celebration in what has been an incredibly turbulent year for ASX All Ords shares.

Today, the S&P/ASX All Ordinaries Index (ASX: XAO) closed the session up 2.86% and the S&P/ASX 200 Index (ASX: XJO) flew 2.79% to a five-month high of 7,158 points.

But in this valley of green, eight All Ords shares really took off, sprouting more than 10%. The interesting part is there's a real mixed bag in this list — and no lithium shares in sight, which is rare these days.

8 All Ords shares that really flew on Friday

Megaport Ltd (ASX: MP1)

There was no price-sensitive news from Megaport today, so it's likely that NASDAQ momentum carried the ASX tech share 13.57% higher to $6.11. The NASDAQ Composite Index (NASDAQ: .IXIC) leapt 7.3% overnight after the US inflation number was released. It's worth noting that last night Megaport announced that major shareholder, Mitsubishi UFJ Financial Group has raised its stake by 1% to 12%.

Pinnacle Investment Management Group Ltd (ASX: PNI)

There was no news out of Pinnacle today but my colleague Tristan revealed this morning that he rates Pinnacle among the top 3 ASX 200 shares to buy for 2023. Fool Cathryn points out that had Tristan invested $5,000 in Pinnacle shares 10 years ago, he'd be a millionaire today. The Pinnacle share price rose by 12.5% to finish at $9.

Block Inc CDI (ASX: SQ2)

With no price-sensitive news from Block today, it's clear that slowing inflation in the US — and potentially fewer or at least lower interest rate rises by the Fed from here bodes well for the buy now, pay later sector, which relies on consumers and businesses continuing to buy goods and services via their platforms. The Block share price finished up 11.53% to $100.91.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price closed Friday's session at $13.87, up 11.67%. There was no company news today but as we reported last month, Nick Sladen of LSN Capital Partners reckons it's a winner. Sladen said: "We consider the best return opportunities are in those companies that operate in structurally growing industries who can deliver earnings growth despite the difficult economic backdrop." He said Netwealth "is benefitting from market share gains, providing annuity-style revenue, high margins, and strong cash flow. The industry tailwinds support a clear trajectory for growth over the long term." 

St Barbara Ltd (ASX: SBM)

St Barbara shares rose by 10.71% today to 62 cents. That's a relief for shareholders after the gold miner turned in the worst performance of any ASX 200 share in the month of October with a 31.1% decline. As we reported, investors weren't happy with the company's first-quarter update, which saw St Barbara downgrading its full-year production guidance and increasing its all-in sustaining cost guidance.

Pro Medicus Limited (ASX: PME)

A bit over a week ago, my Fool colleague Tony reported that medical imaging company Pro Medicus was ready to rocket again according to Medallion Financial Group advisor Stuart Bromley. We may have had a lift-off today with the Pro Medicus share price soaring 11.45% to finish at $58.50 per share. Bromley reckons Pro Medicus is good for long-term growth and a defensive holding in the short term.

Credit Corp Group Limited (ASX: CCP)

A couple of months ago, my Fool colleague Tony reported that Shaw and Partners portfolio manager James Gerrish considered Credit Corp a risk-reward play attractively priced at about $18. Credit Corp shares screamed past that point today, up 11.2% to $20.35 apiece. Gerrish said: "On 13.7x FY23 earnings Credit Corp is still around fair value in Market Matter's view but… we can easily see ~30% upside…".

WiseTech Global Ltd (ASX: WTC)

The share price of this logistics software provider soared 10.38% to $57.86 today. There's been no news out of WiseTech this month except further notices regarding the founder and CEO's stock sell-down. Richard White offloaded $6.46 million worth of shares on-market between 28 October and 3 November. But this isn't new. White has been selling shares on-market since mid-2020.

The post 8 All Ords shares that soared 10% or more today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) surged to a five-month high on Friday following a ripper session on Wall Street. The index closed 2.79% higher at 7,158 points. That left it 3.85% higher week-on-week.

It followed a major rally in New York as the latest US inflation data drove the nation's markets sky-high. The US consumer price index lifted 0.4% in October and 7.7% over the prior 12 months, bolstering hopes the Federal Reserve might ease up on rate hikes.

The Dow Jones Industrial Average Index (DJX: .DJI) lifted 3.7% overnight while the S&P 500 Index (SP: .INX) gained 5.5% and the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) rocketed 7.3%.

It likely comes as no surprise, therefore, that the S&P/ASX 20 Information Index (ASX: XIJ) led the Aussie bourse today, gaining 5%.

The S&P/ASX 200 Health Care Index (ASX:XHJ) and the S&P/ASX 200 Materials Index (ASX: XMJ) were also bright sparks, lifting 3.6% and 3.7%, respectively.

Meanwhile, the S&P/ASX 200 Utilities Index (ASX: XUJ) was the only sector to close in the red, falling 0.5%.

The S&P/ASX 200 Energy Index (ASX: XEJ) also underperformed, gaining just 0.7%.

But which ASX 200 share topped the lot on a day of massive gains? Keep reading to find out.

Top 10 ASX 200 shares countdown

Today's top-performing ASX 200 share was Megaport Ltd (ASX: MP1). The stock followed its home sector higher on Friday, lifting 13.6%.

The company dropped a non-price sensitive release yesterday evening, announcing its major shareholder, Mitsubishi UFJ Financial Group had upped its stake in the company by 1% to 12% last night.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) posted a gain for a second consecutive day on Tuesday. The index closed 0.28% higher at 6,798.6 points.

That was despite the market's major sectors posting a daily loss.

The S&P/ASX 200 Energy Index (ASX: XEJ) fell 1.6% amid lower oil prices.

The Brent crude oil price slipped 0.3% to US$93.26 a barrel overnight while the US Nymex crude oil price dropped 0.6% to US$84.58 a barrel.

It was also a rough day for the S&P/ASX 200 Materials Index (ASX: XMJ), which slumped 1.2% following yesterday's 2.5% gain.

However, their falls were offset by the ASX 200's remaining nine sectors, which all gained as the federal government prepared to hand down its budget tonight.

The S&P/ASX 200 Real Estate Index (ASX: XRE) and the S&P/ASX 200 Communications Index (ASX: XTJ) led the way, lifting 1.7% and 1.6% respectively.

But which ASX 200 share outperformed all others on Tuesday? Keep reading to find out.

Top 10 ASX 200 shares countdown

Today's top performing stock was Sayona Mining Ltd (ASX: SYA). Shares in the lithium favourite lifted nearly 11% despite no news having been released by the company.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

A fundamental idea behind investing is that great reward usually can't come without commensurate risk. 

After all, who in the world is just going to hand you free money? You have to earn it.

If you're a regular The Motley Fool reader and already have a portfolio of ASX shares, you already know and accept this.

You've chosen to invest in equities knowing that it is more risky than term deposits or bonds — but the long-term returns are likely to be more satisfying.

With this attitude in mind, Shaw and Partners portfolio manager James Gerrish recently sifted through some stocks that have been unloved this year. 

"We think a basket of the underperforming stocks from August could deliver solid returns into Christmas, assuming we can buy them into fresh 2022 lows."

He found two that could be excellent risk-reward propositions:

Conservative outlook could be a chance to buy in

Credit Corp Group Limited (ASX: CCP) is an old-school finance company that buys debts from other businesses to chase and collect them itself.

Its share price has, unfortunately, almost halved since the start of the year.

Going into reporting season, Gerrish's team was "mildly bullish" — but the annual result did not flatter the company.

"Their profit result equated to a 14% increase on FY21 which was a solid outcome, however, their guidance for FY23 was the issue – they are guiding to a lower net income of $90 to $97 million," Gerrish said in his Market Matters newsletter.

"Weak guidance has been the largest weight on the ASX through August reporting season as management has been conservative in their outlook."

Having said this, Gerrish likes the potential returns if the stock can dip to the $18 mark. Credit Corp closed Wednesday at $18.59 a share.

"On 13.7x FY23 earnings Credit Corp is still around fair value in Market Matter's view but… we can easily see ~30% upside – note the stock traded ex-dividend 36c fully franked," he said.

"We like the risk-reward towards CCP into fresh 2022 lows."

'Worst of the headwinds could be behind the business'

Chicken producer Inghams Group Ltd (ASX: ING) has really had a tough time of late with supply chain issues, COVID-19 staff absence, La Nina, and input cost inflation.

According to Gerrish, the misfortunes were borne out in the August results.

"Profit fell almost 60% to $35 million, well below the consensus of $43 million, despite volumes increasing more than 4%," he said.

"Painfully the company said consensus expectations were too high for FY23 and we should expect downgrades of up to 10%!"

Unsurprisingly, the Ingham share price has lost more than 20% since 12 August. It's lost about a third since the start of the year.

Gerrish feels like this could be a discount worth investing in.

"On a valuation of 16.2x FY23 (depressed) earnings, the risk-reward is improving especially as we believe the worst of the headwinds could be behind the business."

He added a nice entry point would be below $2.50. Ingham closed Wednesday at $2.48 a share.

The post 2 ASX shares to buy as risk-reward plays after reporting season: expert appeared first on The Motley Fool Australia.

Unfortunately, not all shares climbed with the market. Here's why these were the worst performers on the ASX 200 in August:

City Chic Collective Ltd (ASX: CCX)

The City Chic share price was the worst performer on the ASX 200 in August with a 29.5% decline. Investors were selling this plus sized fashion retailer's shares following the release of a disappointing full year result. City Chic revealed a 39% increase in revenue to $369.2 million and a modest increase in net profit after tax to $22.3 million. However, overshadowing this was the almost tripling of its inventory position and its negative cash flow.

St Barbara Ltd (ASX: SBM)

The St Barbara share price was out of form and dropped 20.7% during the month. Investors were selling St Barbara and other gold miners last month after the gold price tumbled on the belief that rates will continue to rise and reduce the appeal of the non-yielding asset. For the same reason, the Ramelius Resources Limited (ASX: RMS) share price also tumbled materially last month. Its shares ended the month 18.2% lower than where they started it.

TPG Telecom Ltd (ASX: TPG)

The TPG share price wasn't far behind with a decline of 16%. Investors were selling this telco giant's shares following the release of its half year results. TPG reported an adjusted net profit after tax of $331 million, which was up 3.8% over the prior corresponding period. However, according to a note out of Goldman Sachs, TPG's profits missed by 15%. It also highlighted "disappointing opex and Mobile ARPU growth."

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price also dropped 16% in August. This followed the release of the debt collector's full year results. While Credit Corp achieved its guidance for FY 2022, it was its outlook for FY 2023 that disappointed. For example, Morgans was expecting FY 2023 net profit guidance of $94 million to $104 million. However, management is targeting $90 million to $97 million. In addition, later on in the month the company announced customer remediation plans after charging people interest that it shouldn't have done.

The post These were the worst performers on the ASX 200 in August appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) put out a wobbly performance on Wednesday, opening and closing in the red despite gaining for much of the session. The index closed 0.16% lower at 6,986.80 points.

Sadly, today marks the unofficial end of earnings season. While the month of August always brings a rollercoaster of emotions for ASX investors, we'll be sad to see it go.

As always, readers can catch up on all this season's major earnings here.

The S&P/ASX 200 Energy Index (ASX: XEJ) weighed on the market today, closing 2.9% lower, likely on the back of falling energy commodities.

The Brent crude oil price fell 5.5% to US$99.31 a barrel overnight while the US Nymex crude oil price tumbled 5.5% to US$91.64 a barrel. To top it off, the price of thermal coal slipped 1.9% to US$414.55.

On the other end of the market, the S&P/ASX 200 Information Technology Index (ASX: XIJ) posted a 1.7% gain today. Despite lifting for a second consecutive day, it still hasn't recovered its Monday losses.

Five of the ASX 200's 11 sectors were in the green at the end of Wednesday's trade. But which share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

Today's biggest gain was posted by the Clinuvel Pharmaceuticals Limited (ASX: CUV) share price. It lifted 16%, potentially driven by the company's earnings that were released on Tuesday afternoon.

Find out more about the healthcare stock and what it's been up to here.

Today's biggest gains were made by these ASX shares:

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price is down 6% to $19.72. Investors have been selling this debt collector's shares after it announced customer remediation plans. Credit Corp realised that it has charged people interest that it shouldn't have done. The total refund is expected to be $4 million at the most.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price is down 12% to $7.29. This follows the release of the drinks company's full year results for FY 2022. Endeavour reported flat revenue of $11.6 billion and an 11.2% increase in net profit after tax to $495 million. This was in line with consensus estimates. The decline appears to have been triggered by a weakening trading trend into early FY 2023 for its retail segment.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is down 8% to $3.49. This follows the release of another disappointing result from the ecommerce company. Kogan reported an 8% decline in revenue to $718.5 million and $2.9 million net loss. The company also revealed that its active customers had slipped back under 4 million.

Service Stream Limited (ASX: SSM)

The Service Stream share price is down over 16% to 85.2 cents. This morning the essential services company reported a 94.5% increase in revenue to $1,563.8 million but a 19.4% decline in adjusted net profit after tax to $31.4 million. Service Stream's top line was boosted by the acquisition of Lendlease Services late last year.

The post Why Credit Corp, Endeavour, Kogan, and Service Stream shares are dropping appeared first on The Motley Fool Australia.

The Credit Corp Group Limited (ASX: CCP) share price is taking a pounding today.

This comes after the company announced customer remediation following a review of its policies.

At the time of writing, the receivables management company's shares are down 6.29% to $19.67.

Credit Corp slips on customer remediation

The Credit Corp share price is sinking after the company announced it had identified issues arising from its purchased debt ledger (PDL) portfolio.

Credit Corp advised that a number of customers were charged interest where it had intended to apply "forbearance in the form of a zero or reduced interest rate".

The majority of customers affected by the COVID-19 pandemic established flexible repayment arrangements. As part of the program, Credit Corp temporarily reduced all interest rates to zero across its Australian and New Zealand PDL portfolio.

Credit Corp noted forbearance would be permanently applied for all new repayment arrangements established during the temporary period. However, an administrative error led to contractual interest being re-applied.

For now, early indications are that no more than 1% of customers over the period have been affected.

Total refunds are not expected to exceed $4 million.

The company stated that an internal investigation is looking to determine the extent of the issue and the proposed remediation. It is estimated that this will not be completed for another 90 days.

Credit Corp CEO Thomas Beregi commented:

While it is very disappointing that the issues arose, we are devoting appropriate resources to ensure that all affected customers are identified and the full benefit of intended forbearance is provided.

What else did Credit Corp announce?

Furthermore, the company revealed it has received a production notice from the Australian Securities and Investments Commission (ASIC) regarding "a concern over an historic practice".

Management said it is cooperating with ASIC's investigation, and "does not believe that the historic practice of accepting temporary arrangements was contrary to any law".

Despite the latest woes, Credit Corp re-affirmed its earlier guidance for the current year.

The group anticipates net profit after tax (NPAT) to be in the range of $90 million to $97 million. Earnings per share (EPS) is projected to come in between 133 cents and 143 cents per share.

Credit Corp share price summary

Over the past 12 months, the Credit Corp share price has fallen 38%.

The company's share price reached a 52-week low of $18.47 in June, before moving sideways in the following months.

Credit Corp commands a market capitalisation of roughly $1.54 billion.

The post Why is the Credit Corp share price crumbling 6% today? appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are dropping:

Appen Ltd (ASX: APX)

The Appen share price has dropped a further 1.5% to $4.08. This artificial intelligence data services company's shares have been sold off this week following a very disappointing trading update. Appen is expecting to report a 69% decline in half-year underlying EBITDA to $8.5 million due to softer digital advertising demand and a resultant slowdown in spending by some of its large customers. This morning Macquarie downgraded Appen's shares to an underperform rating with a lowly $3.50 price target.

ASX Ltd (ASX: ASX)

The ASX share price is down 3.5% to $87.30. Investors have been selling this stock exchange operator's shares after the release of a disappointing update on its CHESS replacement project. ASX is now expecting the system to go live in late 2024.

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price is down 2% to $22.58. This could have been driven by a broker note out of Morgans this morning. While the broker has retained its add rating, it has slashed its price target by over 20% to $26.80. Morgans was disappointed with Credit Corp's guidance for FY 2023 but sees enough value in its shares to retain its add rating.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is down 2.5% to $19.04. This gold miner's shares have come under pressure after the price of the precious metal dropped overnight. But it isn't just Newcrest that is falling. The S&P/ASX All Ords Gold index is down 0.75% in afternoon trade on Wednesday.

The post Why Appen, ASX, Credit Corp, and Newcrest shares are dropping today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Appen Ltd (ASX: APX)

The Appen share price has crashed over 27% lower to $4.14. Investors have been selling down this artificial intelligence data services company's shares after the release of a dismal trading update. Appen advised that it expects to report half year revenue down 7% to $182.9 million and a 69% decline in underlying EBITDA to $8.5 million. This reflects weaker digital advertising demand and a resultant slowdown in spending by some of its large customers.

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price has sunk 9% to $22.04. This follows the release of the debt collector's full year results this morning. While Credit Corp achieved its guidance and Morgans' estimate with a 9% lift in profit to $96.2 million, its guidance disappointed. Morgans was expecting FY 2023 net profit guidance of $94 million to $104 million. However, management is targeting $90 million to $97 million.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 3% to $17.69. This morning UBS became the latest broker to slap a sell rating on the iron ore giant's shares. The broker has downgraded Fortescue's shares to a sell rating and cut the price target on them to $15.80. UBS has concerns over costs and the iron ore price outlook.

Santos Ltd (ASX: STO)

The Santos share price is down almost 2% to $7.25. Investors have been selling Santos and other energy shares after oil prices tumbled overnight. Traders were selling oil following concerns over weak Chinese factory data. This has led to the S&P/ASX 200 Energy index falling almost 1% on Tuesday.

The post Why Appen, Credit Corp, Fortescue, and Santos shares are dropping appeared first on The Motley Fool Australia.

Credit Corp shares closed yesterday trading for $24.32 and are currently trading for $20.68.

This comes following the release of the debt-focused financial services company's results for the 2022 financial year (FY2022).

What happened in FY2022?

• Net profit after tax (NPAT) of $96.2 million, up 9% from FY2021
• United States segment NPAT increased by 16%
• Record annual investment, with US purchased debt ledger (PDL) outlays 80% above previous highs reached in FY2020 and gross lending volume 24% above previous record from FY2019
• Record gross lending volume of $267 million for the year
• Declared a final dividend of 36 cents per share, fully franked, bringing the full FY22 payout ratio to 52%

What else happened during the 2022 financial year?

The Credit Corp share price could be taking a hit today after the company noted that while its US PDL investment accelerated in the last quarter of the financial year, the company faced headwinds from a tight labour market in the US.

To address the labour shortfall the company has begun hiring remote workers outside of the US and reported that 100 experienced collectors out of the Philippines have commenced contacting its US customers.

Despite the tight labour conditions, Credit Corp sees significant potential for growth in the US markets.

FY22 also saw the company relaunch its auto loan offering, with that component of its gross loan book doubling over the year to $34 million. It also launched pilot programs into buy now, pay later (BNPL) and US lending.

The company said PDL supply in its core AUS/NZ debt buying market did not recover, which could also be dragging on the Credit Corp share price today.

What did management say?

Commenting on the growth potential in the US markets, Thomas Beregi, Credit Corp CEO said:

Market volumes have stepped up in recent months and further increases are expected during FY2023. As resource constraints are addressed, this segment will support consistent annual investment of more than AU$200 million and be capable of producing medium-term earnings similar to those of the AUS/NZ operation

Addressing the company's pilots in BNPL and US lending, Beregi added, "While the successful Wallet Wizard branded cash loan product has achieved significant share of its segment other products target alternative segments and points of distribution."

What's next?

The Credit Corp share price is likely sliding today in part from the company's outlook.

Looking ahead, it stated:

Leading indicators do not suggest a significant recovery in AUS/NZ regular direct-from-issuer PDL sale volumes and US resourcing constraints will not be overcome immediately. In FY2023 growth in US segment earnings is not expected to offset the impact of run-off in the AUS/NZ debt buying business.

Credit Corp also stated it expects its regular investment to moderate from the record levels reached in FY2022.

The company offered the following guidance for FY2023:

• PDL acquisitions $220 million to $260 million
• Net lending volumes $50 million to $60 million
• NPAT $90 million to $97 million
• Earnings per share (EPS) 133 cents to 143 cents per share (cps)

Credit Corp share price snapshot

With today's big fall factored in, the Credit Corp share price is down 28% over the past 12 months. That compares to a full year loss of 7% posted by the S&P/ASX 200 Index (ASX: XJO).

The post Credit Corp share price drops 15% as core debt buying market flounders appeared first on The Motley Fool Australia.

Will the market be able to build on this on Tuesday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market is expected to open the day lower on Tuesday following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 19 points or 0.3% lower. On Wall Street the Dow Jones fell 0.15%, the S&P 500 dropped 0.3%, and the NASDAQ was down 0.2%.

RBA meeting

The Reserve Bank of Australia is meeting again today to decide on the cash rate. According to the latest cash rate futures, the market sees a 67% probability of the central bank raising the cash rate by 0.65% to 2%. Though, another 0.5% rise to 1.85% appears to be the more likely outcome at this afternoon's meeting according to the Westpac Banking Corp (ASX: WBC) economic team.

Oil prices sink

It could be a difficult day for energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices sank deep into the red on Monday night. According to Bloomberg, the WTI crude oil price is down 5% to US$93.66 a barrel and the Brent crude oil price has fallen 4.1% to US$99.72 a barrel. Traders were selling oil following concerns over weak Chinese factory data.

Credit Corp results

The Credit Corp Group Limited (ASX: CCP) share price will be on watch on Tuesday when the debt collector kicks off earnings season. According to a note out of Morgans, its analysts are expecting the company to report a full year net profit after tax of $96.2 million. This will be the top end of Credit Corp's guidance range of $92 million to $97 million. Looking ahead, the broker is expecting management to guide to a net profit of $94 million to $104 million for FY 2023.

Gold price higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.35% to US$1,788 an ounce. A softer US dollar and weak Chinese economic data boosted demand for the precious metal.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

The leading investors from Wilson Asset Management (WAM) have told investors about two compelling All Ordinaries Index (ASX: XAO) ASX shares that are liked.

WAM operates several listed investment companies (LICs). Some, like WAM Leaders Ltd (ASX: WLE), focus on larger companies.

WAM Capital Limited (ASX: WAM) targets "the most compelling undervalued growth opportunities in the Australian market".

Does WAM have a claim of stock picking pedigree? The WAM Capital portfolio has delivered an investment return of 15.7% per annum since its inception in August 1999, before fees, expenses, and taxes. This gross return outperformed the All Ordinaries Total Accumulation Index (ASX: XAOA) return of 8.6% per annum over the same timeframe.

These are the two ASX shares that WAM Capital outlined in its most recent monthly update:

GUD Holdings Limited (ASX: GUD)

WAM describes GUD as a business that owns a portfolio of companies in the automotive aftermarket and water products sectors with the "principal" markets being Australia and New Zealand.

The fund manager pointed out that the All Ordinaries ASX share released a trading update last month at an investor day.

The company revealed that revenue had recovered strongly in March as COVID-19 disruptions receded.

GUD showed that the backlog in dealer sales was at a historically high level, which is expected to support revenue growth in the shorter term. New vehicle sales are expected to return to pre-COVID levels in the medium term.

However, the company did say that inflationary pressure in the costs of freight, supply, and materials will increase prices in the first half of FY23.

WAM noted that despite the cost pressures being experienced by the business, it reaffirmed its guidance for FY22 that underlying earnings before interest, taxes, and amortisation (EBITA) will be in the range of between $155 million and $160 million.

The fund manager said its outlook for the All Ordinaries ASX share is "strong" and it's confident the company can deliver on its FY22 guidance.

Credit Corp Group Limited (ASX: CCP)

Credit Corp is the other All Ordinaries ASX share that WAM referred to in the WAM Capital portfolio.

The fund manager said Credit Corp is Australia's largest provider of "sustainable financial services" in the credit impaired consumer segment.

WAM pointed out that last month the Credit Corp share price dropped on the news that the recovery in credit card spending among Australians is taking longer than expected since the decline experienced during the lockdowns.

The slower-than-expected recovery has meant there has been a delay in the recovery of purchased debt ledger (PDL) volumes, which WAM points out is a core driver of earnings growth for Credit Corp.

But, WAM is confident thanks to a resumption of "typical" spending patterns in the US, which it thinks means that credit card spending will return in the Australian market.

The fund manager says the All Ordinaries ASX share continues to leverage the strength of its balance sheet to "tactfully" acquire a number of assets, which will help keep earnings momentum going within the business.

Last month, Credit Corp confirmed that it had completed the deal to buy the New Zealand ledger book of Collection House Limited (ASX: CLH) after buying the Australian ledgers in December 2020.

WAM is "positive" on the outlook of the business, with a number of medium-term growth drivers for its US PDL and global lending businesses.

The post 2 compelling All Ordinaries ASX shares this fund manager likes appeared first on The Motley Fool Australia.

WAM operates several listed investment companies (LICs). Two of those LICs are WAM Capital Limited (ASX: WAM) and WAM Leaders Ltd (ASX: WLE).

One of the LICs is called WAM Research, which looks at smaller businesses on the ASX.

WAM describes WAM Research as a LIC that invests in the most compelling undervalued growth opportunities in the Australian market.

The WAM Research portfolio has delivered gross returns (that's before fees, expenses, and taxes) of 15.4% per annum since the strategy changed in July 2010, which is superior to the All Ordinaries Total Accumulation Index (ASX: XAOA) return of 8.9% per annum.

These are the two ASX shares that WAM outlined in its most recent monthly update:

Credit Corp Group Limited (ASX: CCP)

Credit Corp was described as a business that provides debt purchase and collection, and consumer lending services in Australia, New Zealand and the US.

The Credit Corp share price outperformed during January 2022 in the lead-up to the FY22 interim result, which was released at the start of February.

WAM said that investor expectations were growing ahead of a positive result. That result delivered, according to the fund manager. There was an 8% increase in the underlying net profit after tax (NPAT) in the half-year report thanks to strong collections activity.

The period included record investment driven by the US purchased debt ledger (PDL) acquisitions alongside the acquisition of Radio Rentals in Australia.

Credit Corp's consumer lending demand accelerated to record levels over the three months to 31 December 2021. Key markets emerged from COVID lockdowns whilst pilot projects continued to demonstrate "promising results".

WAM liked the confidence that the ASX share's management showed by increasing the FY22 guidance, with PDL investment increasing to a range of between $300 million to $320 million and net profit between $92 million to $97 million.

The fund manager believes there is still upside to the given guidance and remains positive on the medium-term outlook as unsecured credit balances are "set to accelerate" as consumer stimulus fades and the impacts of COVID eases.

The above-mentioned impacts are expected to underpin organic growth, while a strong balance sheet positions the company to capitalise on further acquisitions that would add to earnings with a range of opportunities currently in the market.

BWX Ltd (ASX: BWX)

WAM describes BWX as an Australian-based company that is engaged in developing, manufacturing and marketing beauty and personal care products.

The company's expansion into the US and UK is gaining traction. When coupled with new products and a larger distribution network, this is driving growth of the market share.

It was announced in January 2022 that CEO Dave Fenlon had resigned. Mr Fenlon is going to change to be a non-executive director position on the BWX board.

WAM wasn't too concerned because the appointment of his successor is Rory Gration. Mr Gration was the chief operating officer. This demonstrated the continuity of the ASX share's management team.

BWX recently expanded its portfolio with the acquisition of a 50.1% majority stake of Go-To Skincare for $89 million. In FY21, this business generated $36.8 million of revenue and $11.6 million of earnings before interest, tax, depreciation and amortisation (EBITDA).

The post 2 ASX shares that this top fund manager rates as a buy appeared first on The Motley Fool Australia.