With earnings season just around the corner, a number of ASX 200 shares have been releasing trading updates this week.
Today has been no exception, with a large number of updates hitting the wires. Some have been positive; some have been less so.
Three that have led to big moves from ASX 200 shares today are summarised below. Here's what is happening:
Image source: Getty Images
Nanosonics Ltd (ASX: NAN)
The Nanosonics share price is rocketing higher today after the infection prevention company upgraded its full year guidance.
Its shares are up 11% at the time of writing after a stronger than expected first half led to management boosting its FY 2023 revenue growth guidance to between 36% and 41% from 20% to 25%.
One slight disappointment that investors appear willing to overlook is that its operating costs are now expected to grow 22% to 27% in FY 2023 instead of 15% to 18%.
Netwealth Group Ltd (ASX: NWL)
The Netwealth share price has come crashing down to earth after the release of the investment platform provider's quarterly update.
This ASX 200 share is down 10% after reporting a significant slowdown in net inflows. Although its funds under administration (FUA) grew 10.2% year over year to $62,414 million, its net inflows of $2,087 million were down 42% on the prior corresponding period and 29% from the first quarter.
This reflects "larger than usual outflows in the High Net Worth (HNW) investors and mid-market segment."
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is down 7% following the release of the uranium developer's quarterly update.
Investors may be disappointed that it is expected to be another year until the company's Langer Heinrich Mine returns to production. Management is targeting the commencement of production during the first quarter of calendar year 2024.
One positive is that Paladin finished the period with unrestricted cash of US$163.2 million.
