What the Flux

Wesfarmers has seen its annual sales jump to more than $44 billion and it’s putting a heap of praise on one particular business. Qantas has reported a 16% drop in its annual profit in its first annual update since new CEO Vanessa Hudson stepped in. Nvidia, the AI chipmaker, exceeded its quarterly guidance on all the key metrics… but its share price dropped more than 7%. — Build the financial wellb...

Coles has seen its profit jump to over $1.1 billion…copping applause from shareholders and flak from customers and government. Bunnings, Officeworks and Priceline are all looking to build a new revenue stream…and it’s not physical products…OR SNAGS. Guzman y Gomez has smashed profit forecasts in its first earnings update since its IPO. — Build the financial wellbeing of your team with Flux at Work...

Uber Australia has pulled the pin on its carshare business after an 8-figure Australian acquisition in 2022. Beyonce is launching a new whiskey line in collaboration with Moet Hennessy as another celeb jumps on the alcohol bandwagon. SiriusXM Holdings has signed a $100 million USD for Alex Cooper’s Call Her Daddy podcast and her network of shows. — Build the financial wellbeing of your team with F...

Medibank Private has seen its share price fall after missing its big fat target for member growth. The owner of the 7-Eleven chain globally has been approached in a $40 billion USD takeover from a Canadian convenience store retailer. Breville, the home appliances company has has brewed up record high sales, and its got its coffee machines to thank for it. — Build the financial wellbeing of your te...

CommBank has warned that keeping cash at its bank branches is costing it more than $350 million a year. X, formerly known as Twitter, has seen its ad revenue drop by more than 24% in the first half of this year, as advertisers stay away from it. General Motors is cutting 1,000 software employees globally to streamline its initiatives and explore AI. — Build the financial wellbeing of your team wit...

NAB has announced a $1.75 billion cash profit for the past three months, but it’s facing a pesky problem from its customers. Origin Energy has announced a record annual profit… but its shares had a bit of a blackout, with a 10% dip after some red flags for the upcoming year. Paramount Global’s shares have jumped 7% as a surprise new entrant prepares a counteroffer for the media giant. — Build the...

CommBank has announced a whopping $9.8 billion cash profit for the past 12 months after growing its customer base even further. Telstra has seen its annual net profit take a double-digit drop after its mobile price rises weren’t enough to offset some major expenses. Universal Music Group and Meta are expanding their music-licensing deal, which will make Universal’s songs available on all of Meta’s...

JB Hi Fi has seen its full-year profits fall over 16% and investors piled on… in a good way.. Sending its shares up more than 10%. Temple & Webster nearly hit $500m in annual sales and its share price skyrocketed 26%. Seek’s shares dropped over 7% after it announced that earnings for the 2024 financial year fell by 13%. — Build the financial wellbeing of your team with Flux at Work:  https://b...

News Corp, the publishing behemoth, has officially put up Foxtel and its streaming services up for sale! The parent company of clothing brands Millers, Katies and Noni B saw its shares drop more than 40% last week as it struggles to stay afloat. Life360’s share price has hit an all-time high as it crosses 70 million users. — Build the financial wellbeing of your team with Flux at Work:  https://bi...

Nine Entertainment is expected to wrap up its $220m, two-year share buyback - after a whack in profits and business performance. Airbnb has had its largest share price drop since going public in 2020. Warner Brothers Discovery has written down the value of its TV assets by $9.1 billion USD, leading to a $10 billion USD net loss for the quarter. — Build the financial wellbeing of your team with Flu...

Treasury Wine Estates, the owner of Penfolds, will sell off some of its cheaper wine brands after budget drinkers tighten their purse strings. A US court has found that Google spent billions of dollars to illegally monopolise the online search market. Mars Incorporated is considering a takeover of Kellanova, the makers of Pringles and Coco Pops. — Build the financial wellbeing of your team with Fl...

Atlassian saw its share price plummet after it warned that revenue is expected to slow down over the next year. Apple is back on the winners list after it saw growth in its revenue over the past 3 months… but not all is rosy in Apple-land. Intel is cutting 15,000 jobs and suspending its dividend as its stock fell 20% in one day last week. — Build the financial wellbeing of your team with Flux at W...

An Aussie vodka maker, Billson’s Brewery, that makes a popular ready-to-drink vodka, has gone into voluntary administration. Microsoft saw its shares drop 7% in its worst day since October 2022 after its AI revenue juuuuuust missed its forecast. Procter & Gamble suffered its slowest sales growth in six years as consumers start cutting back on brand-name products. — Build the financial wellbein...

Canva has announced that it will acquire AI startup Leonardo. Ai in a big deal for Australia’s start-up ecosystem. Rex Airlines shares are in a trading halt as it tries to find a way to stay out of administration. McDonald’s sales have fallen for the first time in 13 quarters after Maccas’ Big Macs are pricing people out of the fast-food market. — Get 50% of Flux Pro for the next 12 months: https:...

Aldi Australia has announced that it’s abandoning its plan to offer online shopping because it’s doing fine without it. ChatGPT’s creator, OpenAI, is officially coming after Google Search after launching its new search feature “SearchGPT”. Hermes, the luxury clothing brand, has bucked the trend of other luxury brands by reporting a 13% rise in second quarter sales. — Get 50% of Flux Pro for the ne...

Deloitte Australia has seen its revenue drop by more than $70 million in the last financial year after its consulting division was hit haaard by a slowdown in spending. Tesla has seen its share price drop 12% after it saw an enormous quarterly drop in profit thanks to more and more electric vehicle competition. Country Road Group is expected to restructure its business and re-shape its team after...

The merger between Mighty Craft beverages and The Inspired Unemployed’s Better Beer has fizzled out after Mighty Craft fell into administration. Mattel, the toymaker behind Barbie and Hot Wheels, has seen its share price skyrocket 20% after reports that a private equity firm is looking to acquire it. Dolce&Gabbana is flirting with the idea of bringing in outside shareholders for the very first...

Fortescue Metals Group, one of Australia’s largest companies, has cut 700 jobs across its global workforce after its green ambitions haven’t quite met investor expectations. Microsoft has announced a new AI-powered designer app late last week, to help newbies with their basic design skills. The maker of Ray Ban sunnies, EssilorLuxotica, has acquired the Supreme fashion brand for $1.5 billion USD....

An Australian viral beauty brand Coco & Eve has raised $100 million from a US private equity business, which will now take a majority stake in the business. Google is looking to make its biggest acquisition ever after it announced late-stage talks to acquire a cybersecurity company for $23 billion USD. Nvidia and other AI chipmakers have seen their share prices plummet after Donald Trump’s lat...

A construction tech company in Australia called Hammertech has raised $105 million as it looks to expand into the US and Europe. One of the major investors in Stripe, Sequoia Capital, is offering to buy shares from its earliest investors at a $70 billion USD valuation. Budget mobile brands have seen double digit growth in subscribers after the latest price increases from telco giants Telstra and O...

Crown Resorts has sold its 20% stake in the Nobu restaurant chain and this sale values the chain at $1.3 billion. Shein is investing $270 million USD into fund to support sustainable fashion, as it looks to put its best foot forward ahead of a potential IPO in London. BHP has announced plans to let go thousands of employees after facing intense nickel competition in Indonesia. — Get 50% of Flux Pr...

Aussie retailer, The Good Guys, has been alleged to have failed to provide store credits to thousands of eligible consumers…and now the ACCC wants to have their way with them! Spotify has launched a number of new features that steer it closer and closer to a full-blown social networking experience. Samsung has announced brand new tech devices at its Galaxy Unlocked conference - and this year’s sex...

Telstra will be jacking up the prices of its mobile phone plans by more than the inflation rate as part of its plans to grow faster. Saks Fifth Avenue's parent company has acquired luxury retail Neiman Marcus for $2.65 billion USD… and Amazon and Salesforce are taking a slice too. Paramount Global, one of Hollywood’s oldest studios and Skydance Media have agreed to a merger. — Get 50% of Flux Pro...

Amazon, Netflix and Kayo could now outbid free-to-air networks for Australia’s biggest sporting events after a new law was passed late last week. Airtasker has announced a $5 million deal with ARN Media, swapping equity for marketing support. Meta has announced its Threads app has hit 175 million monthly active users after celebrating its 1 year anniversary. — Get 50% of Flux Pro for the next 12 m...

Booktopia has gone into voluntary administration after it struggled to cope with its financial struggles. Domino’s Pizza is expecting its 2024 profit estimates to be seriously hut - thanks to the inflation of one of its most valuable ingredients - cheese. Tesla’s investors shot up its shares by 10% after its sales fell by less than expected last quarter - and it pulled an energy rabbit out of the...