Cochlear (COH) : profits
Cochlear — a pioneer and dominant player in the bionic ear market — reported a 1 per cent slip in half-year profit to $111 million despite stronger sales revenue.
While the result was dragged down by a loss of share in the Chinese Government tender for hearing implants and a one-off increase in US tax expenses, the company maintained it was on track to deliver a full-year profit of up to $250 million.
Cochlear chief executive Dig Howitt said the release of new products would strengthen the company's position in the market. "The positive momentum we have experienced across the developed markets over the past few years has continued into 2018 with a 12 per cent increase in Cochlear implant units delivered across these markets," Mr Howitt said. Mr Howitt said the company had generated solid cash flows which in turn helped fund an 8 per cent increase in the interim dividend. Mr Kane said Boral would benefit from a multi-year increase in infrastructure spending both in its Australian and US markets. Toll road operator Transurban closed at $11. 33, down just 0. 18%, after posting a 280% rise in half year profit to $331 million. Boral was down 2% to $7. 28 after the construction materials company posted a 13% rise in profit to $173 million for the first half. Australia’s bionic ear company posted a 1% fall to $110. 8 million in first half profit, partly due to US President Donald Trump’s company tax cuts. 3. Qantas buys into a US-based software startup. Volantio’s web-based platform identifies flexible passengers on high demand flights, make them offers to move to lower demand flights, and automatically rebook them once they accept.
Technical Analysis Summary: 23 Feb
- [BULLISH]: Cochlear buyers are in control at the market close. There has been 2 consecutive days of prices closing in the upper part of the trading range for Cochlear adding strength to an uptrend in the first timeframe & highlights the commitment of buyers to carry positions overnight. Over the last 12 months there has been 106 trading days with the closing price in the upper part of the range giving a confirmation ratio of 40. 9%. Over the last month there has been 6 trading days with the closing price in the upper range giving a confirmation ratio of 37. 5%. Currently this quarter, closing price has spent 8 days in the upper price range compared to 6 days in the lower range giving a ratio of 1. 3x.
- [BULLISH]: Cochlear current volume uptrend in the first timeframe. Volume for COH is149935 (12. 2).
- Cochlear has broken the first DeMark resistance point ($181. 153) [Bullish]. Look for a long limit order entry near this point. Exit price for COH should be set @$182. 685 & Stoploss for Cochlear should be set at $180. 315
- [BULLISH]: Cochlear currently has a confirmed uptrend. Recent trading has caused the SWMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on SWMA5 is 0. 7%.
- [BULLISH]: Cochlear has a current ARU(25) of 100 and a current ARD(25) of 8
- Cochlear: Coles Rally Day has been confirmed A higher high has been achieved for last trading day for COH
- "It makes sense that our priorities should be on our core brands," Ms Watkins told The Australian Financial Review after reporting a better than expected 0. 4 per cent decline in underlying net profit to $416. 2 million in 2017.
- [BULLISH]: Cochlear currently has a confirmed uptrend. Recent trading has caused the EMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on EMA5 is 0. 7%.
- [BULLISH]: Cochlear currently has a confirmed uptrend. Recent trading has caused the WMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on WMA5 is 0. 7%.
- [BEARISH]: Cochlear UIX index implies that the downside risk of the current trading price is low. Currently, the UIX is 1. 695.
- COH: Bollinger Bands Current Signal -> (1) 23 Feb: BEARISH (2) 22 Feb: BEARISH (3) 21 Feb: BEARISH CROSSOVER
- [BEARISH]: Cochlear current trading has maintained the Commodity Channel Index to overbought status and signalled the continuation of the bearish trading conditions. Currently, the CCI is 191. COH received a confirmed CCI crossover on the Feb 19 2018. The bearish signal has been active for 0 day. During the quarter, the highest CCI value was 191.
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