Recap

Greenfern Industries is lined up to be the latest addition to the New Zealand Stock Exchange, due to list on 21 October 2021. Global supply chain challenges continue, although US President Joe Biden has outlined his plan to help alleviate the pressure for the US. South32 (S32) buys a 45% share of a copper mine in Chile in anticipation of increasing demand for the metal.

How (and why) does a company ‘go public’?

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Vital Healthcare Property Trust (VHP) wants $140 million to purchase an Adelaide cancer centre. Rocket Lab (RKLB) seeks to become an end to end space company after purchasing a space flight software firm. General Motors (GM) receives back most of the cost of its Chevrolet Bolt recall from LG Electronics Inc.

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Air New Zealand (AIR) is set to receive up to a further $170M in support from the New Zealand Government to keep air freight moving. Westpac Banking Corporation (WBC) said it’s set to take a $1.3 billion hit to profit ahead of its full year results, due 1 November. Rocket Lab (RKLB) is ready to resume launches after Covid-19 delays.

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Retirement village operator Summerset (SUM) releases its “strong” third quarter sales results, while other aged-care provider Radius Residential Care (RAD) announces an acquisition. Facebook (FB) responds to a week of revelations from the Facebook Files whistleblower by introducing new controls and safeguards for teenagers on its platforms. Z Energy’s (ZEL) Board of Directors recommends the go-ahead with Ampol (ALD) takeover deal.

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Lawmakers in the US reach a deal over the debt ceiling crisis, but is it kicking the can down the road? Levi Strauss & Co (LEVI) says its diversified manufacturing base has helped the company with supply chain issues during the quarter, meanwhile, baggy jeans are back. Auckland University’s Prof. Tava Olsen explains why the global supply chain is experiencing massive disruptions and if an end is in sight.

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Aroa Biosecurity (ARX) reveals preliminary sales revenue figures for the six months to September. The latest drama in the bidding war over Australian Pharmaceuticals Industries Ltd (API). Target (TGT) partners with two buy now pay later companies.

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Interest rates are set to rise after the Reserve Bank of New Zealand increases the Official Cash Rate for the first time in seven years. a2 Milk Company (ATM) is hit with a class action lawsuit from an Australian law firm on behalf of investors. The whistleblower making allegations against social media giant Facebook (FB) testifies to a Senate panel.

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Social media giant Facebook (FB) wiped billions off its market value after an outage affected its Facebook, Instagram and Whatsapp platforms. NZME (NZM) updates its full year expectations as covid restrictions persist.  Volpara Health Technologies (VHT) signs its highest-value customer contract to date, while ikeGPS (IKE) announces a contract extension win.

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Merck (MRK) says it’s new pill reduces the number of hospitalisations and deaths in Covid patients by half. A new deal sees Infratil (IFT) buy up Auckland Radiology, adding to its stack of healthcare acquisitions. Tesla (TSLA) quarter results see the company beating expectations for car deliveries.

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Investing involves risk. You aren’t guaranteed to make money, and you might lose the money you start with. We don’t provide personalised advice or recommendations. Any information we provide is general only and current at the time. For specific advice, speak to a licensed financial advice provider

Zoom (ZOOM) and Five9’s (FIVN) US$14.7 billion deal is abandoned after FIVN shareholders fail to approve the deal. Cannasouth (CBD) falls short of its target in its latest capital raise. We’re joined by Paul Brownsey, Chief Investment Officer at Pathfinder Asset Management to chat about the latest and his take on the Evergrande situation.

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Investing involves risk. You aren’t guaranteed to make money, and you might lose the money you start with. We don’t provide personalised advice or recommendations. Any information we provide is general only and current at the time. For specific advice, speak to a licensed financial advice provider