Job ads rise

Good Morning,

Job ads rise for first time in six months, husband snooping on wife’s M&A work gets insider trading charge, NZX has reported the weakest equity trading in nine years, Port of Tauranga announces 25 per cent drop in first-half profit, Reddit's US IPO filing reveals US$90.8 million losses, and up to 50 roles may go at PwC New Zealand.

Let's jump in.

Before The Bell

Markets

• New Zealand stocks ended with a slight gain in stark contrast to major international markets, which rallied sharply on the back of an explosive earnings report from US chip maker Nvidia. (GR)

Earnings and Data

• NZX-listed transport company Move Logistics has gone further into the red, amid tough economic trading conditions. Revenue was down more than 11 per cent to NZ$158.3m. (NBR)

• NZX has reported the weakest equity trading in nine years as higher earnings from funds management supported a fall in its core markets business. Net profit for the year to December was $13.6 million, down from $14.2m in 2022. Revenue rose 13 per cent to $108.4m.

• Port of Tauranga announces 25 per cent drop in first-half profit. (RNZ)

News Summary

• Job ads rise for first time in six months. (RNZ)

• 'Mad cow' disease restrictions on blood donations to be lifted next week. (RNZ)

• Rocket Lab completes its first successful landing of spacecraft back on Earth. (RNZ)

• SkyCity ordered to pay A$13m in unpaid casino duty. (RNZ)

• Up to 50 roles may go at PwC New Zealand as demand falls. (RNZ)

• NZX ‘engaging’ with govt on market settings. (NBR)

• Woolworths price-gouging claims overblown: retail investor group. (AFR)

• Nvidia identifies Huawei as top competitor for the first time in filing. (RT)

• Reddit's US IPO filing reveals US$90.8 million losses, 21 per cent revenue growth in 2023. (RT)

• JPMorgan CEO Dimon sells about US$150 million of his shares, SEC filing says. (RT)

• The US will sanction more than 500 people and entities linked to Russia’s war machine. (BBG)

• Goldman Sachs no longer expects US interest rate cut in May. (RT)

• Bankrupt crypto exchange FTX won bankruptcy court approval to sell its shares in artificial intelligence company Anthropic. (BBG)

• Husband snooping on wife’s M&A work gets insider trading charge. (BBG)

Deal Flow

Investments / M&A

• Dominion Energy Inc. agreed to sell a 50 per cent non-controlling stake in the offshore wind farm it’s building in the Atlantic Ocean to infrastructure-focused private equity fund Stonepeak for US$3 billion. (BBG)

• Japan invested $US1.4 billion in Woodside Energy’s Scarborough gas project in Western Australia, securing a 15.1 per cent stake, with JERA, Japan’s top LNG importer, leading the investment. (AFR)

• Aware Super's private equity team co-invested with Macquarie Asset Management in Galway Sustainable Capital, acquired for $US250 million. Alex Satchcroft, Aware Super’s private equity portfolio manager, led the investment of $US50 million alongside MAM's Green Investment Group (GIG). (AFR)

Daily Picks

• Trial of Rust armourer begins in fatal film rehearsal shooting by Alec Baldwin. (Stuff)

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