Azzet reports on three stocks with price moving updates today.
Soul Patts slips despite strength of 1H FY26 result ~
Shares in Washington H. Soul Pattison (ASX: SOL) were trading 0.8% lower by 1:30 pm AEDT (2:30 am GMT) after the investment company released its 1H FY26 result, which delivered strong growth in key investment metrics.
Marking the first set of results since its $14 billion merger with formerly ASX-listed Brickworks, Soul Patts reported a 14.6% rise in pre-tax net asset value (NAV) to $13.8 billion for the half year to January 31, driven by strong cash generation and portfolio growth.
Highlighting the strength of its portfolio in generating income, net cash flow from investments rose 15.4% to $334 million, while the interim dividend increased 9.1% to 48¢ per share.
Due to one-off gains, including the Brickworks merger and asset sales, statutory profit surged to $2.3 billion - a 604% increase on the previous period - while underlying profit rose 6.7% to $304 million.
Soul Patts recorded $4.3 billion in portfolio turnover during the half, its highest on record for a six-month period and ended the period with $472 million in cash.
Commenting on today’s update, management told the market it had delivered a 9.7% return for the period, outperforming the S&P/ASX 200 Total Return Index by 6.6%, with performance broad-based across asset classes.
“Our 1H26 result reflects a landmark period of portfolio transformation, increased activity and value creation,” said Soul Patts CEO, Todd Barlow.
While Barlow did not guide to FY26, he said the breadth and resilience of the group’s multi-asset portfolio means it’s well positioned to navigate market volatility and protect shareholder capital.
“Our strong balance sheet and ample liquidity means we have increased capacity to act on new investment opportunities, with the flexibility to deploy capital selectively in a rapidly changing macroeconomic environment.”
While shares in Soul Patts bounced following the merger with Brickworks last September, peaking at $40.57 1 October, the share price bounced to a low of $35.17 mid-December.
While the stock has since managed to bounce higher, it is still trading well down on its all-time high of $45.14.
Washington H. Soul Pattison has a market cap of $14.6 billion; the share price is up 10% in one year and up 4% in the last month.
The stock's shares appear to be in a near-term rally within a longer-term bearish trend.
Consensus is Hold.
Nufarm rises on BP partnership update
Shares in Nufarm (ASX: NUF) were trading 3.5% higher after the agricultural chemicals company told the market it has expanded its strategic partnership with BP to support long-term growth in sustainable aviation fuel (SAF) and renewable diesel.
It’s understood that the updated offtake and marketing agreement, now extended to 2050, secures BP’s continued access to Nufarm Carinata oil, and provides a milestone-based funding model for seed technology and an established value chain from growers to biofuel producers.
Nufarm Carinata is a non-food feedstock grown on existing farmland and independently certified by the Roundtable of Sustainable Biomaterials, with SAF from Carinata oil cutting lifecycle greenhouse gas emissions by roughly 84% compared with fossil jet fuel.
Initially launched in Argentina in 2022, the program now also includes Brazil, Paraguay, Uruguay, and a pilot in Australia, which allows growers to participate in biofuels markets while benefiting from crop diversification.
Commenting on today’s update, Nufarm CEO Rico Christensen told the market that the agreement with BP supports the growth pathway for Nufarm Carinata by anchoring long‑term demand with a global energy major.
“Demand for biofuels is growing rapidly as hard to electrify industries including aviation and heavy transport look for abatement solutions,” he said.
“Demand is running well ahead of supply as government mandates are requiring industry to meet interim emissions targets by 2030 and net zero targets by 2050.”
While the extension of Nufarm's partnership with BP is only expected to have a minimal impact on short-term earnings, it is expected to serve as a key driver for long-term growth through its Nuseed Carinata biofuel platform.
Meanwhile, funding from BP is expected to help underwrite the costs of expanding Carinata production without requiring heavy upfront capital from Nufarm.
Based on some broker forecasts, Nufarm is expected to become significantly more profitable over the next three years, with some analysts predicting an annual earnings growth rate of around 90.9%.
Last November, the company posted a FY25 statutory net loss after tax of $165.3 million, mostly due to $142.4 million of predominantly non-cash material items from seed technologies business review and performance improvement plan.
During the FY25 result, management flagged FY26 underlying EBITDA for the Crop Protection business to be “moderating on 18% growth achieved in FY25” and is targeting a $30 million improvement for the omega-3 and bioenergy platforms.
Nufarm has a market cap of $729 million; the share price is down 52% in one year and down 9% in the last month.
The stock’s shares appear to be in a long-term bearish trend confirmed by multiple indicators.
Consensus is Moderate Buy.
Weebit Nano halts ahead of expected capital raise
Weebit Nano (ASX: WBT) entered a trading halt this morning ahead of what the market suspects will be a $100 million equity raising when it resumes trading on Monday.
It’s understood that proceeds will be used to restock the semiconductor memory technology developer and licensor’s balance sheet and help Weebit accelerate the commercial deployment of its Resistive RAM (ReRAM) technology.
The cash call follows a patchy trading period for the tech sector following a recent sharp sell-off amid heightened market fears over artificial intelligence (AI) disruption, "stretched" valuations, and rising interest rates.
While Weebit shares are up 118% over one year, they’re down 10% year to date.
Weebit’s semiconductor technology - positioned as a replacement for flash memory, which for decades has anchored electronic devices - claims to offer faster and more energy-efficient memory solutions for new-age applications like artificial intelligence, internet of things and industrial automation.
The company reported $5.6 million in revenue in the December half and signed an agreement to license ReRAM to sector giant Texas Instruments (TI).
Last December, Weebit licensed its resistive random access memory (ReRAM) technology to TI, enabling integration into its advanced embedded processing nodes and covering IP licensing, technology transfer, and qualification for high-temperature AEC-Q100 150°C operation.
The company also holds IP licensing agreements with four fabs, alongside agreements with several product companies, underpinning the updated revenue outlook.
Management has guided to $10 million in revenue for the 2026 financial year.
Meanwhile, due to its unique position as an independent provider of Resistive Random Access Memory (ReRAM), Weebit is viewed as a prime acquisition target by a tier-one semiconductor company, including TSMC, Samsung, SK Hynix, Intel, onsemi, or Micron.
While management is focused on navigating a commercial ramp-up - rather than actively seeking a sale - the market sees the company as a "high-conviction" takeover candidate in the semiconductor memory sector.
Research analysts, Pitt Street Research, have speculated that potential takeover valuations could exceed $10 per share.
Two analysts tracked by Investing.com.au maintain a "Strong Buy" rating with an average 12-month price target of $9.23, representing a potential upside of over 113% from current levels.
Weebit Nano has a market cap of $957 million.
Weebit’s 200-day moving average is trending upwards and highlights long-term investor interest in the stock.
Consensus is Strong Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
