At lunch on Wednesday the S&P/ASX 200 index is fighting hard to stay in the black. The benchmark index is up 4 points to 7,118 points at the time of writing.
Here's what is happening on the market today:
Domino's impresses.
The Domino's Pizza Enterprises Ltd (ASX: DMP) share price has charged higher on Wednesday after delivering a stronger than expected half year result. Domino's reported a 10.6% increase in global food sales to $1.58 billion during the half. This was driven by the opening of 85 new stores and a solid 4.1% increase in same store sales. The company's EBITDA grew 10% over the prior corresponding period to $151 million.
Corporate Travel Management's rollercoaster
The Corporate Travel Management Ltd (ASX: CTD) share price is trading 5% higher at lunch after an extremely volatile morning of trade. The corporate travel specialist's shares crashed as much as 16% lower after its half year update revealed a downgrade to its full year guidance. This was due to the negative impact of the coronavirus on its business. But investors appear to have now looked beyond this and are focusing on its market share gains.
Coles sinks lower after Wesfarmers trims its stake.
The Coles Group Ltd (ASX: COL) share price has tumbled lower today after Wesfarmers Ltd (ASX: WES) announced the sale of a 4.9% stake in the supermarket giant. The conglomerate received $16.08 per share, which was a discount of 4% to its last close price. This valued the shares at approximately $1,050 million. Wesfarmers expects to recognise a pre-tax profit on sale of ~$160 million.
Best and worst performers.
The Cleanaway Waste Management Ltd (ASX: CWY) share price has been the best performer on the ASX 200 on Wednesday with a 13% gain. Investors have responded very positively to the waste management company's half year results and its guidance for the full year. The worst performer on the index is the WiseTech Global Ltd (ASX: WTC) share price with a 19% decline after its half year update disappointed.
