Azzet reports on three stocks with price moving updates today.
Flight Centre rallies on UK cruise acquisition ~
Shares in Flight Centre (ASX: FLT) were trading 5.9% higher by 1:40 pm AEDT (2:40 am GMT) – marking its best trading day in nine months - after the travel group updated the market on its £122 million (A$254 million) acquisition of high-margin UK online cruise agency Iglu.
The transaction includes £100 million upfront and up to £27 million in performance-based earnouts and is expected to be earnings per share accretive in FY26.
To reflect Iglu‘s expected contribution, Flight Centre also upgraded FY26 underlying profit before tax guidance 3% to $315 million–$350 million.
With plans to integrate Iglu’s digital platform across Flight Centre’s leisure brands - enhancing its omni-channel cruise offering in the UK and into other markets – annualised cruise-related total transaction value (TTV) is now expected to surpass $2 billion during FY26, two years ahead of plan.
Supported by a rounded cruise network covering online, offline and wholesale channels, the group also has a TTV stretch target in place of $3 billion for FY28.
Commenting on today’s update, Flight Centre managing director Graham (Screw) Turner described the Iglu acquisition as having strong growth potential and further potential near-term synergies.
“This acquisition delivers immediate shareholder value through EPS accretion and is a game-changer in terms of the future opportunities it unlocks in the global cruise market,” said Turner.
“Iglu brings a strong brand and a scalable technology platform that aligns with FLT’s strategic objectives.”
London-based Iglu currently captures more than 15% of UK cruise bookings and more than 75% of online bookings.
Cruise accounts for around 90% of Iglu’s total bookings, with ski (Iglu Ski) contributing the remaining 10%.
Post acquisition, CEO David Gooch will continue to lead the business, which was founded in 1998 and will now form part of Flight Centre’s global leisure division under CEO James Kavanagh.
Meanwhile, the group will continue its $200 million on-market buy-back program, having repurchased almost $110 million in shares to date.
Following today’s market update Jefferies lifted its price target on Flight Centre to $15.50 and maintained its Buy Rating.
While the stock’s share price has struggled over the last year, it has run up strongly over the past month, following a trading update early November, which appears to have given analysts renewed optimism in the group.
The maximum 12-month target price is $18.26, which suggests there’s still considerable to upside for investors entering the stock at current levels $14.76.
Flight Centre has a market cap of $3.2 billion; the share price is down 7% in one year and up 27% in the last month.
The stock appears to be in a Medium-term rally confirmed by multiple indicators.
Consensus is Moderate Buy.
Marmota skyrockets after confirming high-grade gold system at Greenewood
Shares in Marmota (ASX: MEU) were up around 54.9% after the small cap South Australian explorer reported exceptional 1-metre assays from its maiden drilling program at the Greenewood gold discovery, confirming multiple zones of near-surface, high-grade mineralisation over a 900m strike.
The assays indicate a nearly continuous high-grade mineralised system with bonanza gold grades close to the surface, marking one of the most significant discoveries in the Gawler Craton since 1995.
This discovery - which includes standout intercepts such as 33m at 10 g/t and grades reaching 109 g/t – has the potential to significantly enhance Marmota’s position in the gold mining industry and potentially deliver substantial value to its stakeholders.
The discovery remains open, and Stage 2 drilling is underway as the company moves toward resource definition and development assessment.
The company has drilled the 91-hole program, totalling 3,272 metres, to shallow depths averaging 36m to target the titanium-bearing mineral sands from the surface.
The explorer’s gold exploration is centred on its gold discovery at its Aurora Tank project – near Coober Pedy in SA – that’s yielding outstanding intersections in the highly prospective and significantly underexplored Gawler Craton in the Woomera Prohibited Defence Area.
The Company's flagship uranium resource is at Junction Dam adjacent to the Honeymoon mine.
As of June 30, 2025 the miner’s cash balance was around $4.9 million, with total short-term assets of $5 million.
Marmota Limited has a market cap of $118 million; the share price has gained 163% over one year and is up 35% in the last week.
The stock is in a strong bullish trend, confirmed by multiple indicators.
Consensus does not cover this stock.
Myer surges following double-whammy update
Shares in embattled Myer Holdings (ASX: MYR) received a long-awaited kicker - up over 7.8% this afternoon - after the grand old dame of Australian retailing’s double-whammy update today.
First, the numbers: Sales at the department store have lifted by 3% in the first 19 weeks of the financial year, which represented the retail group’s single biggest Black Friday performance on record.
Due to strong sales growth in Myer retail, total sales were up 3.4%, while homewares, womenswear and concessions all saw double-digit sales growth.
Driven by an improvement in Just Jeans, Myer apparel brands – including Portmans, Dotti, Jacqui E and Jay Jays - were also up 1.3%.
During the group’s AGM update today, Myer executive chairwoman Olivia Wirth told shareholders that the group continues to target the cost of doing business as a percentage of sales at around 29%.
“We've had a very encouraging start to FY 2026,” she said.
“We are particularly pleased with the performance of our Myer Exclusive Brands in the Homeware and Womenswear categories supporting the delivery of the increased sales.”
Meanwhile, Myer remains on track to meet that target.
What the market also responded favourably to today were revelations that Billionaire retailer Solomon Lew - who owns 26.7% of the company - will join the board of Myer in April.
His board uptake will coincide with the department store chain reporting its half-year results and the full completion of the acquisition of the apparel brands it purchased from his company, Premier Investments.
“We expect that he will join the board after the transitional services in relation to the finance function for the apparel brands acquisition are completed and after the first half results,” Wirth said.
Wirth, a former head of loyalty at Qantas, said there is a process underway to add additional independent directors.
Lew’s long-time lieutenant Terry McCartney and former Premier Investments director Gary Weiss already hold two Myer board seats.
Given that Myer's FY25 net profit (ex-impairments) of $36.8 million was well short of expectations – and down from $52.6 million during the same period last year - the market will keep a close watch over Wirth’s recently announced plans for the group.
The group reported a FY25 statutory net loss after tax of $211.2 million for this financial year, down from a profit of $43.4 million year-on-year, after incurring a one-off non-cash impairment of $213.3 million for the acquisition of Apparel Brands, and a merger and integration cost of $34.7 million.
Similarly, the market will also want to know that the recent quasi-merger with Premier Investments is adding value.
Myer is set to bring UK clothing brand Topshop back to Australian shoppers in the new year, almost six years after the last standalone Australian Topshop store closed its doors.
The relaunch will see Topshop’s jeans and apparel stocked exclusively across all of Myer’s 56 stores and its online store, from February 2026.
Myer has a market cap of $710 million; the share price is down 62% in one year and up 13% in the last month.
The stock appears to have completed a medium-term rally that took the 5-day moving average above the 50-day moving average and will likely continue its bearish trend.
Consensus does not cover this stock.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
