The IPH Ltd (ASX: IPH) share price is missing out on the market selloff today.

That's because the ASX 200 intellectual property (IP) services company's shares were slammed into a trading halt this morning.

However, judging by its trading halt request, its shares may well take a tumble when they return to trading on the ASX boards on Wednesday.

Why is this ASX 200 share in a trading halt?

IPH requested a trading halt on Tuesday after it became the latest victim of a cybersecurity incident.

This follows incidents in recent months impacting Costa Group Holdings Ltd (ASX: CGC), Medibank Private Ltd (ASX: MPL), Optus, and TPG Telecom Ltd (ASX: TPG).

Not much is known about the cyber-attack at present, with IPH holding its cards close to its chest. Its request only states:

IPH requests the trading halt to enable it to manage its continuous disclosure obligations in relation to a cyber incident that IPH has recently become aware of; (b) IPH requests that the trading halt continue until the earlier of a release of an announcement by IPH and the commencement of normal trading on Wednesday, 15 March 2023.

Investors will have to be patient and wait for that announcement tomorrow to see what damage has been done from the attack.

In light of the above, it is no wonder that the Betashares Global Cybersecurity ETF (ASX: HACK) share price is up over 6% this year. This compares favourably to the performance of the ASX 200 index, which is down almost 1% in 2023.

The post Another ASX 200 company has been hit with a cyber incident. Here's what we know appeared first on The Motley Fool Australia.

It certainly has been a busy day on the ASX 200 index on Thursday. This has seen a number of ASX 200 shares releasing updates to the market today.

Three that investors have responded positively to are summarised below. Here's what they reported:

Domain Holdings Australia Ltd (ASX: DHG)

The Domain share price is up 2% to $3.12 after the release of the ASX 200 property listings company's half year results. While Domain reported a solid 6.5% increase in revenue to $186.6 million, its expenses grew by a massive 20% and weighed heavily on its margins. This led to the company reporting a 38.9% decline in net profit to $15.9 million. Goldman Sachs notes that Domain's revenue was 2% higher than its estimates but its profits fell 15% short.

Incitec Pivot Ltd (ASX: IPL)

The Incitec Pivot share price is up 1% to $3.54. This morning, this agricultural chemicals company released an upbeat annual general meeting update. Management revealed that FY 2023 "promises to be another strong year for IPL." Overall, its business is performing materially in line with the outlook provided in November.

IPH Ltd (ASX: IPH)

The IPH share price is up 3% to $8.64. This ASX 200 intellectual property services company reported a 19% increase in half year revenue to $226.9 million and a 16% lift in net profit after tax to $28.5 million. This allowed IPH to increase its interim dividend by 7% to 15.5 cents per share. Management advised that this result was driven by organic growth in Asia and the acquisition of Smart & Biggar. Favourable currency movements also gave its earnings a boost.

The post 3 ASX 200 stocks marching higher following earnings updates appeared first on The Motley Fool Australia.

Thursday was a rough one on the S&P/ASX 200 Index (ASX: XJO). It fell 0.53% to close at 7,490.3 points.

The index's slump followed an equally disappointing day on Wall Street, wherein the Dow Jones Industrial Average Index (DJX: .DJI) fell 0.6%, the S&P 500 Index (SP: .INX) slid 1.1%, and the Nasdaq Composite Index (NASDAQ: .IXIC) dumped 1.7%.

Back home, the S&P/ASX 200 Utilities Index (ASX: XUJ) was the worst-performing sector, dumping 2.7% after energy provider AGL Energy Limited (ASX: AGL) posted disappointing earnings.

The AGL share price fell 10.3% after the company revealed a $1.1 billion statutory loss for the first half.

The S&P/ASX 200 Real Estate Index (ASX: XRE) and the S&P/ASX 200 Information Technology Index (ASX: XIJ) also suffered, falling 1.6% and 1.1% respectively.

But some ASX 200 shares defied today's downturn to post notable gains. Let's take a look at 10 that managed to dodge the carnage.

Top 10 ASX 200 shares countdown

The index's biggest gain today was posted by the De Grey Mining Limited (ASX: DEG) share price. It rose 3% on news of the Mallina Gold Project's financing process.  

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.

The S&P/ASX 200 Index (ASX: XJO) traded in the red for just the fourth time this year today, falling 0.3% to close at 7,468.3 points.

And no prizes to those who can guess why. Market experts were shocked by the latest Australian inflation data, released late this morning.

The Australian Bureau of Statistics (ABS) found the Consumer Price Index (CPI) rose 1.9% in the December quarter and  7.8% over the course of 2022. Those figures were notably higher than consensus forecasts of 1.6% and 7.6%, respectively.

The likelihood the Reserve Bank of Australia could begin easing rates next month likely diminished on the findings, thereby disappointing investors.

On a more positive note, the S&P/ASX 200 Financials Index (ASX: XFJ) outperformed despite the inflation read today. It gained 0.3%.

Interestingly, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) also gained, rising 0.4%, while the S&P/ASX 200 Utilities Index (ASX: XUJ) led the market, lifting 0.5%.

Meanwhile, the rates-sensitive S&P/ASX 200 Information Technology Index (ASX: XIJ) fell 1.2% and the S&P/ASX 200 Energy Index (ASX: XEJ) dropped 1.2%.

But enough of that. Let's take a look at the 10 shares that posted the ASX 200's biggest gains on Wednesday.

Top 10 ASX 200 shares countdown

Today's top performing share on the index was News Corp (ASX: NWS).

The stock jumped 6% to close at $29.93 after the company revealed it won't be merging with Fox Corporation and confirmed it's in talks to sell its Move, Inc business.

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.

The S&P/ASX 200 Index (ASX: XJO) fell on Tuesday amid the Reserve Bank of Australia's latest rate hike. The index closed the day 0.47% lower at 7,291.3 points.

The central bank put forward an eighth consecutive rate hike today in yet another bid to tackle inflation, which sat at 6.9% at last count. The benchmark interest rate is now 0.25% higher at 3.1%.

Weighing heaviest on the ASX today was the S&P/ASX 200 Information Technology Index (ASX: XIJ). It slumped 2%. That's perhaps unsurprising given rate hikes are particularly hard on non-profitable companies – a brief many of the market's favourite tech stocks fit.

The S&P/ASX 200 Energy Index (ASX: XEJ), meanwhile, lifted 0.1% despite falling oil prices.

The Brent crude oil price fell 3.4% to US$82.68 a barrel, while the US Nymex crude oil price dropped 3.8% to US$76.93 a barrel.

The S&P/ASX 200 Materials Index (ASX: XMJ) slipped 0.8% today, while the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) and the S&P/ASX 200 Utilities Index (ASX: XUJ) lifted 0.2% and 0.5% respectively.

All in all, four of the ASX 200's 11 sectors closed higher today. But which stock took out today's top spot? Keep reading to find out.

Top 10 ASX 200 shares countdown

Coal favourite Whitehaven Coal Ltd (ASX: WHC) led the way today, gaining 2.7%. That's 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.

The soccer World Cup is under way, with 32 national teams now camped in the Middle East to compete for glory.

While the choice of host, Qatar, has been controversial due to the country's human rights record, billions of soccer fans will still tune in to barrack for their flag. The sport is a matter of life and death in many parts of the world.

As Australia prepares for its first game kicking off early Wednesday morning, Abrdn investment manager and soccer enthusiast Shawn Lee couldn't help himself.

He has picked his own team of 11 ASX shares that would lead his portfolio to a World Cup win:

Goalkeeper

The safe pair of defensive hands at the back for Lee is Auckland International Airport Limited (ASX: AIA).

"We need a good communicator with quick reflexes guarding our goal," Lee said on the Abrdn blog.

"Auckland Airport's prompt response to the COVID crisis was impressive. It moved swiftly to rein in its cost base, pausing large capital projects and preemptively raising emergency capital."

With the world now well into the post-pandemic era, he feels like Auckland Airport can "fend off the ups and down of economic cycles" and offers its investors a monopoly asset.

Left and right backs

According to Lee, left back Bapcor Ltd (ASX: BAP) is "one of the most compelling defensive players".

"Even though Bapcor has had a recent change of coach, new chief executive Noel Meehan has progressively won over the dressing room to restore our team's stability," he said.

"Although many things may not be 'better than before', we think Bapcor has a long playing career ahead and, allied to reasonable valuation, demands a place in our starting line-up."

The right back position will be taken by real estate fund Centuria Capital Group (ASX: CNI).

"We wanted a versatile full-back that's quick on its feet, with good anticipation and composure," said Lee.

"Centuria fits the bill nicely, with its nimbleness evident as it pivots its core unlisted funds business."

He admitted office assets were under a cloud in the post-COVID era, but the company has other fires burning.

"Centuria continues to seek out growth by pivoting its product towards other property sub-sectors more in vogue – including healthcare, industrial property and agriculture investments."

Centre backs

Lee's middle defenders are Infratil Ltd (ASX: IFT) and Ridley Corporation Ltd (ASX: RIC).

"We want our centre backs to provide as much pitch coverage as possible, and Infratil's portfolio of other core investments span a range of sectors such as data centres, telecommunications, retirement living and electricity generation," he said. 

"We think Infratil is staying one step ahead of a fast-evolving game – evident through its investment in solar/wind farm developer and operator Long Road Energy."

Animal feed producer Ridley is on the radar of many experts at the moment.

"Ridley's defensive psyche is finely tuned, with the majority of customer contracts allowing it to pass through inflationary costs, while its mix of divisional exposures should also provide some protection against adverse weather," said Lee.

"After shedding excess, some might say Ridley has a small frame. But this player still packs a punch."

Midfielders

Left, centre and right midfielders are IPH Ltd (ASX: IPH), AUB Group Ltd (ASX: AUB) and Monadelphous Group Limited (ASX: MND), respectively.

"Like any good midfielder, IPH is in excellent condition and is no stranger to playing the endurance game, especially given that the patent lifecycle and corresponding workflow can span 20 years or more," said Lee.

"We drafted AUB in to play a crucial role in our team as we believe its traditional defensive strengths are being nicely complemented by an improving offensive game."

Monadelphous sounds like a biotech, but it's actually a Perth-based mining services provider.

"It has an exemplary operating track record, differentiating it from what is otherwise a peer group of service providers that typically experience booms and busts," Lee said.

"Midfield is often referred to as the engine room of the team, and the WA resources engine is most definitely humming!"

Forwards

The wingers for Lee would be IDP Education Ltd (ASX: IEL) and Hub24 Ltd (ASX: HUB).

"Wingers need good ball control to get in behind opposition defences and set up attempts on goal. We believe IDP has excellent skills and a few tricks in its locker," he said.

"In between digitising the business through computer-based IELTS testing, the acquisition of online course database provider Hotcourses, the launch of marketplace platforms such as IDP live, the shrewd purchase of IELTS India and thriving amid the COVID crisis that otherwise devastated the international student industry, we think the business has executed almost flawlessly and consistently made fools of opposing defences."

Hub24 has "had more shots at goal than many of its peers".

"Speed is a key attribute of good wingers, and this is where Hub24 does not disappoint," said Lee. 

"Platform funds under administration have grown at breakneck speed since the business was established in 2007, in part due to tailwinds from the move towards independent financial advice, but also as a result of innovative platform technology and a superior customer experience."

Finally, the big goal scorer in the centre forward position is Pro Medicus Limited (ASX: PME).

"We can't fault Pro Medicus's hot scoring streak, announcing multiple record-sized cloud-based contract wins, together with strong renewal momentum on improved pricing and contractual terms," said Lee.

"Not only do we anticipate conversion of the contract pipeline, we think the business has enhanced its scalability through cloud-based deployment, which will grow its addressable market meaningfully and allow it to penetrate a smaller customer base previously deemed to be less economic."

The post 11 ASX shares that make Abrdn's World Cup team appeared first on The Motley Fool Australia.

Australian markets were rangebound again today with the benchmark S&P/ASX 200 Index (ASX: XJO) creeping just 12 points higher to close at 6,810 — up 0.18% on the day.

The downside has been heavy this year for ASX 200 investors, and active stock pickers have moved front and centre once again.

Company fundamentals and company-specific features have become the new driving factors in equity markets, more so than the abundant liquidity of the past two years.

What this means for ASX 200 shares moving ahead remains to be seen. Nonetheless, investor preferences have changed.

IPH looking strong, expert says

As the wave of macro-headwinds continues for ASX companies, fundamentals are once again the most important piece of the puzzle.

With that, strong business models, producing strong, known cash flows, are standing out.

One ASX 200 share worth looking at is IPH Ltd (ASX: IPH), according to one expert. Celeste Funds Management's Sheryl Chand identified the intellectual property services company as an opportunity in an article on Livewire today.

Chand noted IPH's acquisition of Canadian specialist IP law firm Smart & Biggar earlier this year for $390 million, labelling it a 'best in class' acquisition of Canada's IP assets.

"Not only does management expect EPS accretion of 10% in the first full year of ownership, but also the acquisition is strategically transformative for IPH," she said.

However, it's the company's simple-to-understand business model and ability to make projections that are the most appealing in IPH's case, Chand says.

IPH has a simple operating model and straight-forward financial reports. For example, their revenue recognition is easy to understand and does not require significant judgement or complex calculations.

We also like that they have predictable, recurring revenues, and a capital-light business model which is free from inventory-risk.

They also use reputable auditors and maintain a clean track record of reporting with no indicators of material misstatements.

It is for these reasons the fund is bullish on IPH and its operations domestically and abroad.

In the meantime, the share is up more than 10% this year to date, having bounced off a low in June.

It now trades back in line with its pre-pandemic highs, as seen on the chart below.

The post Buy this ASX 200 share with 'predictable, recurring revenues' and no inventory risk: expert appeared first on The Motley Fool Australia.

Three ASX shares brokers have named as buys this week are listed below. Here's why they are bullish on them:

Core Lithium Ltd (ASX: CXO)

According to a note out of Macquarie, its analysts have retained their outperform rating and $1.70 price target on this lithium miner's shares. This follows the completion of a $100 million institutional placement and the first sale of its spodumene direct shipping ore through a digital exchange platform. In respect to the former, the broker believes Core Lithium is well-placed to accelerate its growth thanks to this equity raising. The Core Lithium share price is trading at $1.16 on Wednesday.

IGO Ltd (ASX: IGO)

A note out of UBS reveals that its analysts have retained their buy rating on this mining company's shares with an improved price target of $16.15. UBS has been looking at the mining sector and remains positive on lithium prices due to strong demand and tight supply. In light of this, the broker sees plenty of value in the company's shares at the current level. The IGO share price is fetching $14.98 this afternoon.

IPH Ltd (ASX: IPH)

Another note out of UBS reveals that its analysts have initiated coverage on this intellectual property services company's shares with a buy rating and $11.00. The broker is a fan of IPH due to its defensive qualities, which it sees as a positive in the current environment, and its long track record of making earnings accretive acquisitions. UBS feels the latter is under-appreciated by the market. Finally, its analysts highlight that a weaker Australian dollar is a positive for the company's profits. The IPH share price is trading at $9.80 today.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

WAM runs a number of different listed investment companies (LICs) including WAM Capital Limited (ASX: WAM), WAM Active Limited (ASX: WAA), and WAM Research Limited (ASX: WAX).

The fund manager likes to look for compelling, undervalued growth opportunities on the ASX share market. The below companies are two investment ideas that WAM recently highlighted.

IPH Ltd (ASX: IPH)

WAM described IPH as Asia Pacific's leading intellectual property (IP) services group with a network of member firms and clients in more than 25 countries.

Last month, IPH announced that it was buying Canadian IP agency Smart & Biggar for a total of $387 million.

The fund manager noted the acquisition will extend IPH's international secondary markets network beyond the Asia Pacific region for the first time and lift IPH "towards being a global leading IP services group".

IPH expects that the transaction will result in adding to underlying earnings per share (EPS) of approximately 10% in the first year of ownership and deliver access to more growth opportunities.

August was also reporting season. Last month, the company announced its full-year result, revealing a 14% year-over-year increase of underlying net profit after tax (NPAT) to $86.7 million as well as an 11% rise in underlying earnings before interest, tax, depreciation and amortisation (EBITDA).

Here is what WAM had to say about the company:

We remain positive on IPH and believe the business has a strong runway for organic and acquisition-led growth over the medium term.

Capitol Health Ltd (ASX: CAJ)

Capitol Health is described by the fund manager as a diagnostic imaging provider to the Australian healthcare market.

Last month, the ASX share announced the full-year result for its 2022 financial year which was better than the market was expecting. It also included the acquisition of Future Medical Imaging Group, a diagnostic imaging services provider, for a total cost of $56.1 million.

WAM pointed out the acquisition is expected to add to EPS in the high single digits. The fund manager said:

With a strong balance sheet and continued investment in well-defined growth opportunities, we believe the outlook for Capitol Health remains strong as diagnostic imaging providers recover from the coronavirus pandemic.

The post 2 little-known ASX shares that this fund manager says have 'strong' outlooks appeared first on The Motley Fool Australia.

The IPH Ltd (ASX: IPH) share price is edging higher during Friday afternoon.

This comes despite the announcement by the intellectual property services company that its CEO has offloaded some of his shares.

At the time of writing, IPH shares are swapping hands at $9.60 apiece, up 2.13%.

IPH CEO sells shares to 'satisfy personal tax obligations'

Investors appear to be unfazed by the company's latest news, sending the IPH share price into positive territory.

According to the release, IPH managing director and CEO, Andrew Blattman sold a parcel of his shares through an on-market trade.

In total, 400,000 IPH shares were disposed on 24 August.

While the average price per share sold isn't listed, we do know that $3.64 million went into Blattman's pockets. This would suggest that each share that was sold was around $9.10 per share.

The company listed the reason for the sale was "to satisfy personal tax obligations arising from the issue of shares under the company's long term incentive plan."

It's worth noting that this is not uncommon, as directors and CEO's alike sell for various reasons over time.

A catalyst for the IPH shares remaining afloat today despite the sell down can be attributed to some recent broker notes.

According to ANZ Share Investing, the team at Macquarie raised its price target by 45% to $11.95 for IPH shares. Based on the current share price, this implies an upside of roughly 25%.

Furthermore, Canaccord Genuity also bumped up its rating by 15% to $11.65 per share.

It seems that both brokers believe that the IPH shares are undervalued from where they trade today.

IPH share price summary

IPH shares have travelled in circles over the last 12 months, registering a slight gain of 3.7%.

Although, when looking at year to date though, its shares are up 9%.

In particular, the past month has been extremely positive for shareholders with its shares 16% higher following the company's full-year results.

Based on today's price, IPH commands a market capitalisation of approximately $2.08 billion, with 218.82 million shares on hand.

The post Guess which ASX 200 CEO just sold $3.64 million worth of his company's shares? appeared first on The Motley Fool Australia.

ASX reporting season went into overdrive this week as a flock of S&P/ASX 200 Index (ASX: XJO) shares handed in their results.

With a flurry of news and ASX announcements, it can be hard keeping up.

So, here's the lowdown on some of the biggest movers from ASX reporting season this week. 

You'll find links to our relevant Foolish earnings coverage for further reading.

The ASX winners

The Nearmap Ltd (ASX: NEA) share price soared above the clouds this week, propelling 30%. While the aerial imaging company lifted the lid on its FY22 results, it was a takeover bid that had the market excited. 

The Temple & Webster Group Ltd (ASX: TPW) share price was also on fire, lighting up 30% on Tuesday before eventually running out of steam to post a 7% gain across the week. Investors cheered as the online furniture retailer delivered 31% revenue growth in FY22 while its earnings margin came in at the high range of guidance.

The IPH Ltd (ASX: IPH) share price also hit a home run, finishing the week 17% higher. The market appears pleased with the company's global ambitions. Alongside its FY22 results, IPH announced a $387 million acquisition of Smart & Biggar, a leading Canadian intellectual property firm. This marks IPH's first expansion beyond the Asia Pacific region.

The Brambles Limited (ASX: BXB) share price also ended the week in the winners' column, pumping out a 12% gain. The logistics group shook off global supply chain challenges to deliver 9% sales growth in FY22, ahead of guidance, and boosted its final dividend.

Last but certainly not least, the BHP Group Ltd (ASX: BHP) share price punched in a 7% weekly rise, fortifying its crown as the ASX's largest company. The Big Australian beat expectations in FY22 as strong cash flow performance led to a juicy final dividend of US$1.75 per share.

The ASX losers

While Temple & Webster soared, the pain continued for fellow ASX e-commerce share Redbubble Ltd (ASX: RBL). The Redbubble share price suffered a steep 40% intraday fall on Wednesday after marketplace revenue dropped 13% and earnings reversed in FY22.

The Pact Group Holdings Ltd (ASX: PGH) share price also found itself under pressure, packaging up a weekly loss of 19%. COVID and supply chain challenges contributed to a 25% fall in the company's FY22 underlying profit. Pact Group also slashed its final dividend by 75%.

The week wasn't kind to the TPG Telecom Ltd (ASX: TPG) share price either, descending 13%. The ASX telco reported soft first-half results, impacted by restructuring and rising cost pressures.

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price also had a week to forget, stumbling 11% as investors were unimpressed by the company's FY22 results. The ASX bank's commentary around its net interest margin may have spooked the market.

Finally, the Beach Energy Ltd (ASX: BPT) share price failed to fire, slipping 8% across the week. The company's FY22 profits fell short of expectations and the ASX oil share warned investors that unit field operating costs would likely head north in FY23. 

Which ASX 200 shares are reporting next?

Gear up for another jam-packed week of ASX reporting season as a swarm of ASX 200 shares prepare to release their results.

According to our Foolish ASX reporting season calendar, some of the ASX blue-chip shares reporting next week include Wesfarmers Ltd (ASX: WES), Woolworths Group Ltd (ASX: WOW), Coles Group Ltd (ASX: COL) and Qantas Airways Limited (ASX: QAN).

The post ASX reporting season weekly wrap: Winners and losers appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) broke what was a three-session winning streak on Thursday with tech shares leading the downfall. The index finished today's trade 0.21% lower at 7,112.80 points.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) was the market's worst-performing sector, falling 2.4%, following a rough day on the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC). The Wall Street index slipped 1.25% overnight.

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) also underperformed after recording a notable gain on Wednesday, while the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) lifted for a sixth consecutive session.

Also trading in the green was the S&P/ASX 200 Energy Index (ASX: XEJ). It gained 1.4% to lead the market, likely on the back of higher energy commodity prices.

European coal futures reportedly rose overnight amid increasing concerns of an energy shortage on the continent. Meanwhile, oil prices lifted off a six-month low. The Brent crude price rose 1.4% to US$93.65 a barrel and the US Nymex crude price gained 1.8% to US$88.11 a barrel.

At the end of Thursday's session, three of the ASX 200's 11 sectors were trading higher.

So, without further ado, let's take a look at which share outperformed all others to be crowned today's top performer.

Top 10 ASX 200 shares countdown

Today's top performing ASX 200 share was IPH Ltd (ASX: IPH), and by a longshot too. There was plenty of exciting news from the intellectual property services firm today.

It announced a major acquisition and dropped its financial year 2022 results. Find out more about the company 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 not letting that hold them back are listed below. Here's why they are climbing:

CSL Limited (ASX: CSL)

The CSL share price is up almost 3% to $300.48. This morning the team at Citi responded to CSL's full year results by retaining its buy rating with a slightly trimmed price target of $340.00. While the broker believes there are "more questions than answers" with the company's FY 2023 outlook, it has seen enough to retain its bullish view on the biotherapeutics giant.

IPH Ltd (ASX: IPH)

The IPH share price is up 14% to $10.08. This follows the release of the intellectual property services company's full year results. IPH reported revenue growth of 6% to $385.1 million. In addition, the company announced an agreement to acquire Smart & Biggar for almost $400 million. It is a leading Canadian intellectual property firm.

Renascor Resources Ltd (ASX: RNU)

The Renascor share price is up 10% to 22 cents. Investors have been buying this graphite developer's shares after it announced an upgrade to the Siviour mineral resource. This upgrade makes Siviour the second largest reported proven graphite reserve in the world and the largest graphite reserve outside Africa. Management expects it to support a 40-year mine life with production of graphite concentrates up to 150,000 tonne per annum.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is up 3% to $13.04. This follows the release of a full year result that came in ahead of expectations in FY 2022. The wine giant's net profit after tax before material items and SGARA was up 4.2% to $322.6 million. This compares favourably to the market consensus estimate of $314.4 million. Stronger margins across its divisions helped drive the profit growth.

The post Why CSL, IPH, Renascor, and Treasury Wine shares are pushing higher appeared first on The Motley Fool Australia.

Shares in the intellectual property services group leapt 17% higher in early morning trade and are currently up 13.8% since yesterday's close.

The big gain in the IPH share price comes with two drivers: the release of its full year results for the 2022 financial year (FY22); and an acquisition announcement.

First, the acquisition…

IPH share price takes off on acquisition news

Investors are bidding up the IPH share price after the company announced it's reached an agreement to acquire the IP agency practice of Smart & Biggar, a leading Canadian intellectual property firm.

This marks the first expansion for IPH beyond the Asia Pacific region.

The consideration for the acquisition is CA$348 million (AU$387 million).

That's comprised of an upfront cash consideration of CA$241 million along with an initial issue of 5.3 million new IPH shares with a value of CA$41 million (escrowed for two years). There's also a deferred issue of new IPH shares (earn-out consideration) up to a value of CA$66 million (also escrowed for two years).

IPH forecast underlying earnings per share (EPS) accretion of around 10% in the first full year of ownership.

Commenting on the acquisition that looks to be driving the IPH share price higher today, CEO Andrew Blattman said:

The Australian and Canadian IP markets are very similar, and together the combined group will be well positioned to provide our clients with a comprehensive IP service offering with an international reach in key secondary markets, while offering strong career development opportunities for our people.

Moving on to the IPH FY22 results…

What happened in FY22?

• Revenue of $385.1 million, up 6% from the prior year
• Statutory net profit after tax (NPAT) of $52.6 million, down 2% year on year
• Statutory earnings before interest, taxes, depreciation and amortisation (EBITDA) of $115.9 million, up 2% from FY21
• Final dividend of 16.0 cents per share, 50% franked, an increase of 3% from FY22

What else impacted the IPH share price during the year?

The IPH results were significantly stronger on an underlying basis, likely providing some extra tailwinds for the share price today.

The company reported a 14% increase in underlying NPAT to $86.7 million while underlying EBITDA increased 11% from FY22 to $137.4 million.

It attributed the large difference between underlying and statutory results to the $4.6 million non-cash write-down of the intangible value of the Shelston IP brand, alongside the $2.2 million write-down of the Practice Insight business, which was divested during the year.

The company forecast that both these initiatives will deliver higher earnings in FY23 and beyond.

The full-year dividend comes out to 30.5 cents per share, up from 29.5 cents per share in FY21.

What did management say?

Commenting on the full-year results, Blattman said:

Since listing we have successfully demonstrated how our strategy to combine organic growth with the acquisition and integration of businesses delivers earnings accretion for the wider group. Our FY22 result reflects the continuation of that strategy with our Asian business once again delivering double-digit revenue and earnings growth on a like-for-like basis…

In Singapore, IPH Group maintained our number one patent market share of 21.9% for the period ending 31 March 2022… IPH remains the market leader in Australia with combined group patent market share (excluding innovation patents) of 34% for the year to 30 June 2022.

IPH share price snapshot

The IPH share price is up 21% over the past 12 months, handily outpacing the 5% full-year loss posted by the All Ordinaries Index (ASX: XAO).

Longer-term, IPH shares are up 123% over the past five years.

The post IPH share price just rocketed 17% on results and acquisition news appeared first on The Motley Fool Australia.

WAM runs a number of different listed investment companies (LICs) including WAM Leaders Ltd (ASX: WLE), WAM Capital Limited (ASX: WAM) and WAM Research Limited (ASX: WAX).

IPH is, or was, in the WAM Research and WAM Capital portfolios at the end of June 2022. It was in the top 20 holdings.

What is IPH?

The fund manager described IPH as Asia Pacific's leading intellectual property services group, comprising a network of member businesses, servicing more than 25 countries.

Recent performance

The IPH share price has risen by around 15% since mid-June.

WAM noted that in June, the business didn't release any "fundamental" news to explain the strong rebound of IPH shares

The fund manager explained the bounce of the legal outfit's shares may have been due to currency tailwinds because IPH invoices the vast majority of its clients in US dollars.

While the IPH share price went up, the global share market declined in June after, according to WAM, news of continued interest rate rises and rising inflation, and sentiment gravitated towards businesses with more "resilient earnings profiles" that have "historically proven themselves capable of delivering organic growth in tougher economic environments."

In other words, IPH's defensive earnings and business model could lead to good performance during this difficult period.

Latest IPH update

IPH wants to deliver growth in a number of ways including organic growth, acquisitions and expanding service offerings to clients in Australia and New Zealand.

The ASX 200 share said that the scale of its business enables it to look further at intellectual property adjacent opportunities. It has a "strong balance sheet and capacity" to go after opportunities.

In a recent investor presentation, the business said that "global IP trends remain supportive for IP protection" and that it's well placed to capitalise on these trends.

It also said that it has "demonstrated consistent earnings and cash flow generation to underpin returns to shareholders." The business has been steadily growing its ordinary dividend over the past several years.

IPH share price snapshot

Over the last six and twelve months, IPH shares are virtually flat.

The post Guess which ASX 200 share this fundie tips to outperform appeared first on The Motley Fool Australia.

Here's what is happening on the ASX 200 today:

Pilbara Minerals' lithium price update

The Pilbara Minerals Ltd (ASX: PLS) share price is defying weakness in the lithium industry and charging higher. This has been driven by the release of an update on its BMX auction. According to the release, the company's next auction has concluded before it even started after Pilbara Minerals received and accepted a pre-auction bid that equates to approximately US$7,000 per dry metric tonne (dmt). This is up from US$6,586 per dmt a month earlier.

ASX 200 mining giants tumble

It has been a difficult day of trade for mining giants BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO). They have taken a tumble this morning after the iron ore price continued its decline. According to Metal Bulletin, the benchmark iron ore price fell a further 5.5% to US$109.40 a tonne.

ANZ shares lift on MYOB rumours

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is outperforming on Thursday. This appears to have been driven by rumours that the banking giant is close to acquiring accounting software company MYOB. The bank is understood to be interested in building a one-stop platform for small businesses.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the IPH Ltd (ASX: IPH) share price with a 4.5% gain despite there being no news out of the IP services provider. Going the other way, the Lake Resources N.L. (ASX: LKE) share price is the worst performer with a 17% decline. The exit of its CEO and lithium demand concerns have been weighing on this new entrant to the ASX 200.

The post ASX 200 midday update: Pilbara Minerals' lithium price update, BHP tumbles appeared first on The Motley Fool Australia.

Fortunately, not all shares dropped with the market. Here's why these were the best performers on the ASX 200 last week:

PolyNovo Ltd (ASX: PNV)

The PolyNovo share price was the best performer on the ASX 200 last week with a whopping 44.4% gain. This was driven by countless announcements revealing that the heavily shorted medical device company's chairman, David Williams, had bought shares on-market. This may have spooked short sellers into buying shares to close their positions.

Lifestyle Communities Limited (ASX: LIC)

The Lifestyle Communities share price was on form and charged 11.2% higher over the period. This was driven by a positive response from brokers to a trading update. That update revealed that the land lease communities company has reaffirmed its forecast to deliver 1,100 to 1,300 new home settlements and 450 to 550 resale settlements attracting a deferred management fee between FY 2022 and FY 2024. Goldman Sachs responded by reiterating its conviction buy rating and $24.65 price target.

TPG Telecom Ltd (ASX: TPG)

The TPG share price was a positive performer and pushed 8.6% higher last week. This followed a positive reaction to news that the telco has signed a binding agreement to sell 100% of its passive mobile tower and rooftop infrastructure. TPG is selling the infrastructure to OMERS Infrastructure Management for $950 million. These funds are expected to be used by TPG to pay down its existing debt.

IPH Ltd (ASX: IPH)

The IPH share price wasn't far behind with a 7.4% gain. This was despite there being no news out of the intellectual property services company. This latest gain means the IPH share price is now up by a sizeable 22% over the last 12 months despite the market volatility.

The post These were the best performers on the ASX 200 last week appeared first on The Motley Fool Australia.

With COVID-19's Delta variant raging and China reasserting its authority domestically and internationally, it's an uncertain world at the moment.

Even among ASX shares, investors are debating whether stocks are nearing the top or whether they have more legs in them.

So it can be worth listening when an expert has a "high-conviction" ASX share pick. 

If they're that sure about something in volatile conditions, then the company must have a lot going for it.

Lucky for The Motley Fool readers, Wilson Asset Management fund managers have offered up not just one high-conviction selection, but 3.

All 3 are held in one or more of Wilson's listed investment companies WAM Capital Limited (ASX: WAM), WAM Microcap Ltd (ASX: WMI), WAM Research Limited (ASX: WAX) and WAM Active Limited (ASX: WAA). 

NBN competitor ready to bust out

Equity analyst Sam Koch told a Wilson webinar he liked the look of Swoop Holdings Ltd (ASX: SWP).

"Swoop competes with the NBN by offering greater speeds and service in under-served areas."

Koch's team is estimating organic revenue growth of 10% to 15% per annum, plus 1% to 2% margin expansion, over the next several years.

He likened Swoop to a "mini" version of Uniti Group Ltd (ASX: UWL) — but perhaps with more upside due to its far-smaller valuation.

"Uniti Group… has a market cap of over $3 billion, and Swoop's only at $300 million at this stage," said Koch.

"The catalyst is deploying their balance sheet into accretive acquisitions into a highly fragmented market."

Swoop shares are up 64% for the year, trading at $2.05 on Thursday afternoon.

Operational recovery comes for free at current share price

Wilson portfolio manager Oscar Oberg singled out Event Hospitality and Entertainment Ltd (ASX: EVT) as his high-conviction pick.

He said the company has been around for over 100 years and owns hospitality assets like QT, Rydges, Thredbo ski resort and Event Cinemas. 

Wilson bought into it as a recovery stock in May 2020, but it dipped again the next month when Melbourne went through its second wave of coronavirus.

That's when Oberg's team found a nice catalyst.

"In particular, $2 billion of property on Event's balance sheet at the time," he said.

"The major catalyst we saw at the upcoming August result was the fact that the property was undervalued and it would have a revaluation."

That catalyst then played out, and Wilson has since done well out of its Event holding. But Oberg reckons there's more to come.

"We think this business will have a materially lower cost-base going forward. We think it'll earn more money than what it did pre-COVID for its operating businesses," he said.

"So we're very bullish on this stock. We think it can get over $20 a share, which is a 30% upside."

Event shares went for $14.58 on Thursday afternoon, up almost 52% for the year.

15% upside for this ASX share with a realistic catalyst

Intellectual property services group IPH Ltd (ASX: IPH) has a 15% upside on its current stock price, according to senior equity analyst Shaun Weick.

His team started monitoring the stock at around $6.50. IPH shares traded at $9.20 on Thursday afternoon.

"Our research [pointed] to a rebound in R&D spend, which we expected to support an uptick in patent filing trends."

Easing of pressure on the US dollar and a plan to pursue expansive acquisitions were tailwinds for the business, Weick said.

"IPH's management team is very well-regarded. They've got a proven track record of executing earnings-accretive acquisitions and extracting synergies."

The post Experts reveal 3 high-conviction ASX shares appeared first on The Motley Fool Australia.

This comes following the release of the intellectual property services company's results for the full 2021 financial year.

The IPH share price gains on results

• Revenue of $363.5 million, down 2% from $370.1 million in FY20.
• Earnings before interest, taxes, depreciation and amortisation (EBITDA) of $113.3 million, equal to FY20 EBITDA.
• Net profit after taxes (NPAT) of $53.6 million, down 2% year-on-year from $54.8 million.
• Final dividend increased 3% from FY20 to 15.5 cents per share, 40% franked.

What happened in FY21 for IPH

IPH reported that it was able to deliver consistent underlying EBITDA ($124.3 million compared to $126.0 million in FY20) despite an 11% increase in the average Aussie dollar to US dollar exchange rate over the course of the financial year, as well as due to the continuing market disruptions from the ongoing global pandemic.

Diluted earnings per share (EPS) were came in about 4% lower than the prior year, at 24.7 cents compared to 25.8 cents in FY20.

What did management say?

Commenting on the results, IPH CEO Andrew Blattman said:

Like-for-like revenue declined by 2%, including the market disruption caused by COVID-19. However, our success in our ongoing strategy to integrate acquisitions and capture synergies to deliver margin accretion, together with another solid performance from Asia, resulted in Group Underlying like-for-like EBITDA increasing by 10%. Group Underlying like-for-like EBITDA margin increased by 12%…

IPH remains the market leader in Australia with combined group patent market share (including Baldwins IP on a proforma basis and excluding innovation patents) of 36.2% for the year to 30 June 2021.

What's next for IPH?

Looking ahead, Blattman said the company's focus is on "organic growth, consolidating acquisitions, and pursuing growth step-out opportunities".

He said IPH's strong financial position with low gearing and stable cash generation "enables us to continue to assess further growth options, including potential international acquisition opportunities in core secondary IP markets".

The record date for investors wanting to claim the final dividend is 25 August. Payment is scheduled for 17 September.

The IPH share price is up 0.5% over the past full year.

The post The IPH (ASX:IPH) share price charging higher following dividend boost appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

BWX Ltd (ASX: BWX)

The BWX share price is down over 2% to $5.11. This morning the personal care products company announced the completion of the acquisition of vegan-focused online retail platform operator Flora & Fauna. Investors may be disappointed that the new acquisition is only on track to achieve the low end of the guidance range BWX provided when first announcing the deal.

IPH Ltd (ASX: IPH)

The IPH share price is down 5% to $7.56. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has downgraded the intellectual property services company's shares to a neutral rating with an $8.35 price target. Goldman made the move on valuation grounds.

Novatti Group Ltd (ASX: NOV)

The Novatti share price has sunk 9% to 58 cents. The catalyst for this decline was the company raising $45 million at a 14% discount of 55 cents. This comprises a $40 million placement and a $5 million share purchase plan. These funds will be used to expand the company's presence in existing markets, enter new markets, and acquire a 19.9% interest in Reckon Limited (ASX: RKN).

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price is down 1% to $10.62. This morning the insurance giant revealed that Strand Fitness and others have filed a representative proceeding against QBE Insurance in the Federal Court of Australia. Those proceedings allege that QBE wrongfully denied cover to certain policyholders during the COVID 19 pandemic for losses arising from business interruption. QBE advised that the allegations will be defended. Nevertheless, it is satisfied that its reserving in respect of Business Interruption claims remains robust.

The post Why BWX, IPH, Novatti, & QBE shares are dropping appeared first on The Motley Fool Australia.