Azzet reports on three ASX stocks with price moving updates today.
Light & Wonder soars after reporting Q3 earnings ~
Shares in Light & Wonder (ASX: LNW) were trading up 10.5% by 2:30 pm AEDT (3:30 am GMT) after the cross-platform global games company reported robust Q3 earnings this morning, which made it the market’s best-performing large-cap heading into lunch.
What captured the market’s imagination today was the group’s 78% jump in quarterly net income to US$114 million, which was underpinned by stronger gaming operations and record iGaming revenue.
Consolidated revenue rose 3% to $841 million, while adjusted net profit after tax climbed 25% to $153 million.
Despite the sorry state of the U.S. economy, the group delivered its 21st consecutive quarter of North American premium growth, with over 2,800 additional gaming operations units added year-on-year, while expanding its gaming operations and iGaming segments, integrating Grover Gaming and enhancing digital momentum.
Driven by a 38% lift in gaming operations, gaming revenue grew 4% to $558 million, including an additional $40 million from its Grover charitable gaming arm.
However, Social gaming arm SciPlay saw revenue fall by 4% to $197 million.
Commenting on today’s update, the group’s CEO Matt Wilson told the market that the current transition to a sole primary listing on the ASX simplifies our listing structure for shareholders and further enhances Light & Wonder's profile within a Gaming-attuned Australian market.
He also reminded the market that the R&D engine is continuing to deliver world-class content, which was reflected in another strong quarter for Gaming operations and record iGaming performance.
“We are reinvesting in the business to drive long-term sustained growth, as evidenced by the number and quality of new games and hardware showcased at this year's G2E,” he said.
“Additionally, we are thrilled to report that the integration of Grover Gaming into our omni-channel strategy is progressing well. The team is fully prepared to participate in the opening of the Indiana charitable gaming market, expected in the coming months.”
Key numbers announced today:
- Consolidated revenue up 3% to $841 million for the quarter.
- Net income up 78% to $114 million.
- Net income per share up 89% to $1.34.
- Consolidated AEBITDA rose 18% to $375 million.
- Adjusted net profit after tax climbed 25% to $153 million.
- Free cash flow jumped 64% year-on-year to $136 million.
- $111 million returned to shareholders through share buybacks.
- Repurchases reaching over $1.5 billion since 2022.
In addition to transitioning to a sole ASX listing during the quarter, the company also extended its debt maturity by issuing $1 billion in senior notes due 2033 at a lower interest rate.
The group also maintained its full-year outlook and reaffirmed its FY25 guidance, forecasting consolidated AEBITDA between $1.43 billion and $1.47 billion, and adjusted net profit after tax of $550–$575 million.
Management also plans to continue investing in new game content and hardware, with a focus on growing its digital and omni-channel presence—particularly with Grover and the iGaming platform.
Today’s result suggests the group is on track to achieve its long-stated Adjusted EBITDA goal of US$1.4 billion annually.
While the stock’s share price is up 10% today, around $126.95, it is still trading around 28% lower than its most recent high of $176.27 late February this year.
Light & Wonder has a market cap of $4.1 billion; the share price is down 15% in one year and up 12% in the last week.
The stock shares appear to be in a long-term bearish trend, confirmed by multiple indicators.
Consensus is Moderate Buy.
Tivan uncovers ultra high-grade fluorite at Molyhil Project
Shares in Tivan (ASX: TVN) were trading 4% higher by noon, only to retreat as the Darwin-based critical minerals company announced the identification of ultra high-grade fluorite mineralisation at its Molyhil Project in the Northern Territory, following a recent field reconnaissance and sampling program.
Includes three outcropping fluorite reefs with significant strike length. This discovery is understood to enhance Tivan’s exploration prospects in the region, while complementing its ongoing drilling program at the nearby Sandover Fluorite Project.
The high assay results, with some samples reaching up to 85.9% CaF2, underpin the potential for significant fluorite deposits, positioning Tivan strategically within the fluorite mining sector.
Thirteen rock chip samples from three fluorite reefs spanning 2.5 km returned exceptional results, with four samples above 50% CaF₂.
The find extends the company’s critical minerals exploration footprint near its Sandover Fluorite Project, where drilling is set to begin imminently.
Commenting on today’s update, Tivan executive chairman Grant Wilson told the market that today’s results add a further dimension to Tivan’s plans to progress a high-value critical minerals precinct in central Australia, in collaboration with Sumitomo Corporation.
“Our team is currently redeploying from Speewah to Sandover. We are looking forward to the commencement of drilling at the Sandover Fluorite Project from mid-November,” he said.
Next steps will include further field work to define the extent of fluorite mineralisation at the Molyhil Project, with additional rock chip sampling to be conducted to expand the understanding of the vein systems.
The additional sampling will assist in the definition of targets for a drilling program targeting fluorite mineralisation next year.
Today’s announcement follows a string of recent updates that have seen the share price climb 70% in the last month.
Overall, the company has five main projects: Speewah, Sandover, Molyhil, Turiscai, and TIVAN+ minerals processing technology.
The Company had total cash reserves of $18.57 million as at 30 September 2025.
Project breakdown includes:
- Speewah Project (WA): A large-scale vanadium project focused on producing high-purity vanadium electrolyte for vanadium redox flow batteries.
- Sandover Project (NT): A fluorite (fluorspar) prospect in the Northern Territory, located adjacent to the Molyhil project.
- Molyhil Project (NT): A tungsten-molybdenum project that has synergistic development with the Sandover project.
- Turiscai Project (Timor-Leste): An early-stage exploration project for copper-gold mineralisation. Tivan has also recently acquired the Baucau and Ossu projects in Timor-Leste.
Tivan has a market cap of $419 million; the share price is up 260% in the last year and down 1.3% in the last week.
The stock appears to be in a strong bullish trend, confirmed by multiple indicators.
Consensus does not cover this stock.
NAB slumps on mixed-bag 1H and FY results
After struggling to find some black ink this morning, shares in National Australia Bank (ASX: NAB) were trading around 3.7% lower following the release of its mixed-bag 1H and FY results.
The market responded negatively to revelations that the Big Four bank’s cash profit of $3.5 billion had missed consensus expectations by around 2%, while cash earnings per share of 114 cents were in line with the consensus of 113 cents.
Today’s result resembled a Santa lolly grab, with something for everyone; yet what cast a shadow over the result was deteriorating asset quality, with non-performing loans rising to 1.55% of total loans.
Credit impairment charges were also up 40% half-on-half, while costs rose 5% in an attempt by NAB to defend its perch in business bank leading stakes.
Also adding to today’s selloff were revelations that NAB’s FY25 result also fell short of expectations, with cash earnings of $7.091 billion, down 0.2% on the previous period, short of the consensus estimate $7.183 billion.
The bank's net interest margin also increased by 3 basis points from 1.71% to 1.74%, while statutory earnings per share were down 3.6% year on year to 221 cents, behind consensus expectations of 233.9 cents.
NAB's common equity tier 1 ratio was 11.70%, also below the consensus of 11.84%, while expenses grew by 4.6% with the bank recording a $130 million charge due to the review and remediation of long-running payroll issues.
However, a full-year dividend of $1.70 per share was level with estimates.
Commenting on today’s result, NAB's CEO, Andrew Irvine, told the market the bank's 1% uptick in underlying profit was a sign of "good momentum", particularly over the second-half period.
Irvine tempered the increase in credit impairment charges over the year by noting that a number of key asset quality outcomes improved over the six months to 30 September, "consistent with a supportive Australian economic environment".
The bank also committed to growing costs at a slower pace than this year’s 4.6% increase.
"We are making good progress on our key priorities of growing business banking, driving deposit growth and strengthening proprietary home lending," said Irvine.
"This has been supported by targeted investments in front line bankers and technology-enabled solutions delivering simpler, faster and safer outcomes."
While it may have had little bearing on today’s share price performance, the bank told the market today that it will not provide new or renew corporate lending to companies that lack a transition plan to deal with greenhouse gas emissions.
It’s understood that NAB had cut its exposure to oil and gas by $700 million over the past two years.
Having concluded that Santos’ (ASX: STO) climate transition plan falls short of the bar set by NAB, the oil and gas major will now have to seek funding for its expansion plans elsewhere.
NAB has a market cap of $131 billion; the share price is up 10% over one year and down 4% in the last month.
The stock appears to be in a long-term uptrend.
Its 200-day moving average is upward sloping and shows that there has been investor demand for the stock over the long term.
The Stochastic Oscillator is a good gauge of short-term interest. It, too, is rising and shows demand for the stock.
Consensus is Hold.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
