Health Giant CSL Loses Decade of Share Price Gains Due to Profit Warning
The topic of this news is the stock market.
The ASX has gone down because CSL's shares have gone down a lot after the company said it would not make as much money as expected.
But in the US, the stock market had a good day on Friday because of good news from companies and the economy.
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Stephen Letts is reporting on this story.
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There are 22 key events to look at.
Here are the key events.
There are 15 key events to look at.
Here is a snapshot of the market.
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There are 3 fuel news stories.
There are 3 news stories about Iran.
There are 3 investment news stories.
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There are 3 news stories about currencies.
There is 1 analysis news story.
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This is a key event.
Lin Lin is reporting on this story.
CSL was asked what had changed since its 90-day review and if it still has an advantage over its competitors.
The interim CEO of CSL, Gordon Naylor, said the company is focusing on improving its business rather than changing its strategy.
But Naylor also said that CSL was slow to respond to changes in the market.
He said that competitors have improved their supply chains and are now more reliable.
CSL is investing more in its commercial capabilities, especially in the US.
Naylor said that CSL's margins are still strong, but not as good as they would like.
This is a key event.
Stephen Letts is reporting on this story.
The ASX has started the week with a loss, despite a good day on the US stock market on Friday.
The healthcare sector is doing the worst, mainly because of CSL's bad news.
The energy sector is doing well because of higher oil prices.
CSL's shares have gone down 18% to under $100, a level not seen in 10 years.
Most healthcare stocks are going down, but Neuren Pharmaceuticals is going up.
Investors are also selling their bank shares.
The big miners are doing well, with BHP and Capstone going up.
Woodside is going up because of high oil prices.
The top movers on the ASX 200 include Dyno Nobel and Metcash.
CSL is the biggest loser on the ASX 200.
Stephanie Chalmers is reporting on this story.
The Strait of Hormuz is still closed, and US-Iran negotiations are not going well.
The Australian government's temporary cut to fuel excise is about to end.
This could affect how much you pay for fuel.
Daniel Ziffer is reporting on this story.
There was some news over the weekend that you might have missed.
The Victorian Coalition said it would pause some transmission line projects if it wins the election.
This is a complex issue that involves politics, science, and practicalities.
We need to reduce emissions from fossil fuels, and the cost of renewable energy is going down.
It's no longer economic to build coal-fired power stations.
The grid needs to be changed to accommodate more renewable energy.
The process of building renewable energy projects and transmission lines has been done poorly.
The Coalition sees an opportunity in this situation.
This means more uncertainty for investors.
This is a key event.
Lin Lin is reporting on this story.
CSL said its core business is still strong, but its recent financial performance has not met expectations.
The company is investing in its commercial capabilities, especially in the US.
CSL's shares are down 44% this year.
This is a key event.
Stephen Letts is reporting on this story.
Dyno Nobel's share price has gone up after it announced good results for the first half of the year.
The company is on track to exit its fertiliser business in June.
Investors are happy with the company's forward earnings guidance.
The interim dividend has been cut by 27%.
This is a key event.
Stephen Letts is reporting on this story.
The ASX 200 has opened 1.2% lower, with the blue chip stocks down around 1.5%.
The prices are current as of 10:15 am AEST.
This is a key event.
Stephen Letts is reporting on this story.
CSL's shares have gone down 17% after it announced a big downgrade in profit and revenue guidance.
The company has also announced a $6.9 billion impairment cost.
This is a key event.
Stephen Letts is reporting on this story.
China's trade surplus with the US has grown to $88 billion this year.
The country's exports grew 14.1% in April, while imports grew 25.3%.
The trade surplus with the world was $84.8 billion in April.
The conflict in the Middle East could affect China's exports.
This is a key event.
Stephen Letts is reporting on this story.
The Australian dollar is trading lower after the US-Iran peace prospects deteriorated.
The Aussie dollar is down 0.4% to 72.15 US cents.
This is a key event.
Stephen Letts is reporting on this story.
There has been an investigation into large bets made on falling oil prices before key events in the US-Iran war.
The bets total $7 billion, which is much larger than the original $2.6 billion reported.
The investigation found that the bets were made on multiple exchanges and types of fuel and derivatives.
The US Commodity Futures Trading Commission is investigating the trades.
This is a key event.
Stephen Letts is reporting on this story.
The Australian government will announce its federal budget on Tuesday.
The budget is expected to include changes to the capital gains tax discount rate and negative gearing.
The US and China are expected to meet in Beijing to discuss trade, investments, and geopolitics.
This is a key event.
Stephen Letts is reporting on this story.
The US stock market had a good day on Friday, with the S&P 500 and Nasdaq indices closing at record highs.
The ASX 200 futures are pointing to a less-than-inspiring opening to the week.
Oil prices remain volatile.
The US dollar slipped on cautious optimism that the war would end soon.
The Aussie dollar lifted back above 72 US cents.
Gold edged up on hopes of a US-Iran deal.
Copper hit a three-month high on news that the recovery of the big Grasberg mine in Indonesia had been delayed.
This is a key event.