The stocks making headlines today
Coronado Global Resources (ASX:CRN) has confirmed to the ASX that it had conducted confidential discussions with Arch Resources (NYSE:ARCH) regarding a potential merger but was no longer in talks. In a statement today, the coal miner said that it engages other companies “from time to time to consider potential transactions”, however no such discussions are ongoing. Coronado has a market capitalisation of $4.12 billion, while Arch has a market cap of US$2.72 billion.
Macquarie Group (ASX:MQG) has delivered a 56% jump in net profit of $4.706 billion for the financial year 2022, which the company said was driven by a record performance across three of its four divisions. Macquarie said that it remains cautious on the economic outlook, with many of the regions and markets in which it operates saw heightened levels of volatility this year. Yet, the company’s long standing strategy to address key areas of unmet need in the community has remained unchanged, the company said.
REA Group (ASX:REA) has announced it benefited greatly from a booming property market in the third quarter, delivering 23% in revenue growth as listings continued their post COVID-19 recovery. The $16.11 billion market capitalisation company reported revenue of $278 million for the three months of this year, as earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 27% to $155 million.
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