Rudi's View | Mar 08 2019
In this week's Weekly Insights (this is Part Two):
-Reporting Season: Reality Versus Sentiment
-Aussie Banks & Market Sentiment
-Have Your Say
-No Weekly Insights Next Week
-Rudi On TV
-Rudi On Tour
[Non-highlighted parts appeared in Part One on Thursday]
By Rudi Filapek-Vandyck, Editor FNArena
The February reporting season has triggered three changes to the selection of Conviction Buys at Wilsons, with each of GWA Group ((GWA)), Nanosonics ((NAN)) and Ruralco ((RHL)) no longer included.
Ruralco is now in take-over mode as the board has agreed with the $4.40 per share cash offering from Canada's Nutrien, while Nanosonics is facing temporary interruption from the change in relationship with GE come July, while last month's interim report by GWA has raised more questions, making Wilsons a little more cautious.
Stocks that remain on the Conviction List are Arq Group ((ARQ)), Bravura Solutions ((BVS)), Collins Foods ((CKF)), Ridley Corp ((RIC)), ImpediMed ((IPD)), EQT Holdings ((EQT)), Pinnacle Investment ((PNI)), Noni B ((NBL)), Ausdrill ((ASL)), Mastermyne ((MYE)), and NRW Holdings ((NWH)).
Over at stockbroker Morgans, market strategists didn't think the reporting season was good enough to warrant the strong performance for share market indices. They are worried for a repeat of the August reporting season experience last year when, once fundamentals had been fully digested by investors, share price weakness starting kicking in once the season had concluded.