With earnings season now gathering pace, there will be a lot to watch on the ASX this week.
Here are a few things of interest that I'll be looking out for:
Monday.
Embattled tech company GetSwift Ltd (ASX:GSW) was due to provide the market with an update on Friday, but no announcement was made. This could come this morning all being well. Its shares are likely to fall sharply when they eventually return to trade.
Tuesday.
All eyes will be on Magellan Financial Group Ltd (ASX: MFG) when it announces its half-year results. Its shares are up almost 20% since this time last year and the market will no doubt be looking for a strong result from the fund manager that backs up this impressive share price rise.
Wednesday.
Earnings season moves up a gear on Wednesday with banking giant Commonwealth Bank of Australia (ASX: CBA) taking centre stage. Keep a look out for increased compliance spending and provisions being made for future fines. Rio Tinto Limited (ASX: RIO) and BWP Trust (ASX: BWP) are also expected to release their results. I'm looking forward to Rio's result and believe it has the potential to be better than expected.
Thursday.
Energy company AGL Energy Ltd (ASX: AGL) is scheduled to report its earnings on Thursday. As is financial services company AMP Limited (ASX: AMP). According to a note out of Goldman Sachs, it expects AMP to report underlying profit of $1,034 million, NPAT of $1,007 million and a final dividend of 15 cents per share.
Friday.
Property listings company REA Group Limited (ASX: REA) will release its half-year result on Friday, as will SKYCITY Entertainment Group Limited ASX: SKC. The shares of Mayne Pharma Group Ltd (ASX: MYX) will also be one to watch ahead of the weekend. This is because industry giant Teva Pharmaceuticals will release its latest quarterly result overnight on Thursday in the United States. This should provide investors with an idea of how Mayne Pharma has been performing amid pricing pressures in the generic drugs market.
