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Showing posts from March, 2020

COVID-19 - ASX Trading Halts, Transcripts & Updates

Here's an update on what ASX listed companies have been saying in March 2020 regarding coronavirus.There's a series of companies in trading halts relating to COVID-19, an airline that says it is doing well out of the situation, along with some companies capitalising on opportunities presented by the crisis, and a series of companies understandably withdrawing their earnings guidance.


Trading Halts


Neuren Pharmaceuticals (NEU) - March 20, 2020
The trading halt is requested pending an update regarding ongoing clinical trials following the issue of FDA guidance on the conduct of clinical trials of medical products during the COVID-19 pandemic.


Pacific Star Network (PNW) - March 20, 2020
The reason for the voluntary suspension is to allow PNW to continue to assess, and make an announcement to inform the market about, the effects of the COVID-19 on its business. PNW expects that it will take some time for it to undertake the necessary reviews and assessments and be able to appropriate…

10k Words - March 2020

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Apparently, Confucius didn’t say “One Picture is Worth Ten Thousand Words” after all. It was an advertisement in a 1920s trade journal for the use of images in advertisements on the sides of streetcars. Even without the credibility of Confucius behind it, we think this saying has merit. Each month we share a few charts or images we consider noteworthy.

Who would have thought that the global pandemic that started in China would lead to significant out-performance of Chinese equities against the rest of the world? Bespoke has illustrated that in terms of the China share of global market capitalisation. Analysts are scrambling to cut growth expectations. Goldman Sachs put out its view of various economies' GDP relative to previous US recession periods. BAML's monthly global survey of fund managers showed growth expectations plunging the most ever to a net 49% (23% brave investors forecasting stronger growth, 72% tipping weaker growth). Morningstar has had a crack at estimating th…

Ensuring the health of your business amid the coronavirus crisis

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Some sage words on how to ensure the health of your business while dealing with potential business consequences of the spreading effects of the coronavirus.



This commentary is from an email sent to associates of companies that Equitable Investors and its associates are either currently shareholders in or maintain a close interest in. We don't often communicate in this manner but wanted to share with you some key points made by leading VC firm Sequoia Capital to its investments - the comments come from deep experience and we could not express them better ourselves.

Facing Challenges









Some companies have seen their growth rates drop sharply between December and February Supply chain disruption can have cascading effects Companies that depend on in-person meetings for sales or business development are being affected. 
 Question Every Assumption








Do you really have as much cash runway as you think? What would you do if fundraising on attractive terms proves difficult in 2020 and 2021? Antic…

Corporates Talking Coronavirus

Here's a taste of what Australian listed companies have been saying in March 2020 regarding coronavirus.There's the expected - a drop in demand for air travel and retail traffic declining - but the virus has also been used as a reason for a capital raising and as a driver of online sales.


TRANSCRIPTS FROM CONFERENCE CALLS

Senex Energy (SXY) - MD Ian Davies - conference call on March 11, 2020
"This was originally planned to be a face-to-face briefing in Sydney. But clearly, with COVID-19 and the uncertain environment that, that brings, we've opted for safety first."

" In recent times, global LNG has been characterized by an increase in supply and a softening of demand, leading to an excess of supply in the market. Weather in the northern hemisphere and the coronavirus are some of the factors impacting demand."


Qantas Airways (QAN) - MD Alan Joyce - conference call on March 11, 2020
"We've seen coronavirus and the amazing levels of coverage around …

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