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Core

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Clearing the Decks for What’s Next Austal’s (ASX: ASB) recent updates point to a business finishing a major defence program while repositioning toward a broader, more diversified workload. The launch of the final Guardian-class patrol boat closes a long, reliable contract and frees capacity at Henderson, while activity in the US, Europe and Asia highlights a shift toward higher-value defence work and next-generation ferries. With growing involvement in the US submarine supply chain and new commercial builds underway, Austal is moving from

Sandfire Resources

Speculative

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A Foot in the Door at Kalkaroo Sandfire Resources (ASX: SFR) has firmed up a pathway into Kalkaroo, securing access to a large copper-gold system. The earn-in structure defers most of the ownership cost until a new pre-feasibility study and drilling program clarify scale, economics and development fit. Strategically, Kalkaroo adds an Australian growth option alongside Motheo and Matsa, with regional exploration offering longer-dated upside. The opportunity is clear, but ultimate value hinges on study outcomes, cost inflation and execution through the

Amcor

Core

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Making the numbers work Amcor’s (ASX: AMC) 2Q26 result shows the Berry acquisition doing the heavy lifting as underlying demand remains patchy. Reported sales rose 68% to US$5.45 billion and adjusted EBITDA jumped 83% to US$826 million, but comparable volumes fell low single digits, and revenue missed expectations amid tariff-driven uncertainty. That gap was bridged by US$55 million of quarterly synergies, helping adjusted EPS reach US$0.86. With free cash flow of US$289 million and FY26 guidance reaffirmed, the investment case rests increasingly

Elders

Core

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Passing the baton early Elders (ASX: ELD) has opted for an early, ‘low-risk’ CEO succession. The board has named former Fonterra executive René Dedoncker as CEO from October 2026, with Mark Allison staying on until then and in an advisory role through early 2027. The long overlap reduces execution risk in a cyclical, relationship-driven business and signals continuity rather than change in direction. The appointment looks aimed at scaling the existing model, and not resetting strategy mid-cycle. In our last tech update on the

Betashares Japan ETF

Core

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The Resurgent Sun: The Case for Japanese equities in 2026 Japanese benchmarks have reached record highs as of February 2026, but the current momentum is far from exhausted. Fears regarding Japan’s high debt-to-GDP ratio are overblown in our view. The fiscal deficit has narrowed to -0.5% of GDP, the healthiest gap in decades. When contrasted with a ~6% federal deficit in the United States, Japan’s fiscal discipline becomes a powerful, often overlooked differentiator. In our view, the recent steepening (albeit very

Genesis Minerals

Speculative

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Gold’s Wild Ride, Genesis’ Golden Quarter Gold has had quite the year. After surging to around US$5,600/oz, the yellow metal corrected sharply on Friday and Monday, falling below US$4,700/oz, though on Tuesday, price action was heading rapidly north again, reminding investors that even ‘safe havens’ can deliver stomach-churning volatility. With central banks continuing to accumulate bullion, geopolitical uncertainty set to remain elevated and our view that the de-dollarisation trade will continue, we remain constructive on gold’s medium-term outlook, but expect the

Whitehaven Coal

Speculative

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Turning the Corner Whitehaven Coal’s (ASX: WHC) December quarter points to a smoother-than-expected integration of their Queensland metallurgical assets, with volumes and costs tracking ahead of market concerns. Managed ROM output lifted 21% quarter-on-quarter, prices held firm, and unit costs landed at the low end of guidance, supporting cash flow and a modest reduction in net debt. While FY26 guidance was left unchanged, the stronger first half positions the group well for the second, easing execution risk around the BMA assets without

Qantas

Core

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Leaving on Jet Plane Qantas Airways (ASX: QAN) has flagged a clean exit from Jetstar Japan, signing a non-binding MoU with Japan Airlines that would see the carrier move to Japanese capital control and Qantas divest their 33.3% stake by mid-2027. The move continues a broader simplification of offshore low-cost ventures, following the closure of Jetstar Asia, while preserving strategic access to Japan through unchanged codeshares and joint business with JAL. This manoeuvre reads as capital discipline: stepping away from a low-return

About these archived stock reports

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