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ASX 200 (XJO) To Open Lower, 3 ASX Shares To Watch

The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.36% on Tuesday.

The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.36% on Tuesday.

Australian Dollar ($A) (AUDUSD): 68.53US cents

Dow Jones (DJI): down 0.15%

Oil (WTI): $US54.16 per barrel

Gold: $US1,488 per ounce

ASX Sharemarket News

In ASX sharemarket news, Redbubble (ASX: RBL) has released a first quarter trading update for September 2019.

The artist products business reported that marketplace revenue grew by 43% to $70 million, gross profit increased by 48% to $27 million, the gross profit margin increased by 1.5% to 37.9% and an EBITDA profit (click here to learn what EBITDA means) of $2.2 million was achieved (up from a loss of $1.8 million).

Perhaps most importantly, the company said it achieved free cash flow of $7.8 million for the quarter, with a closing cash balance of $37.9 million.

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Kogan.Com (ASX: KGN) has also released a first quarter update for September 2019. The online company said gross sales increased by 16% on last year, gross profit increased by 28% and operating costs increased by less than 3% compared to last year. The result was driven by ‘Exclusive Brands’ revenue increasing by 35%.

Kogan Mobile NZ, Kogan Money Credit Cards, Kogan Money Super and Kogan Energy all launched ahead of schedule.

Kogan also announced that a new agreement with Corporate Travel Management (ASX: CTD) regarding travel services was done.

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WiseTech Global (ASX: WTC) has released its defence against the second short attack report by J Capital Research.

The tech company defended its business again, refuted all of the claims and confirmed that FY20 revenue is expected to come in at $440 million to $460 million and EBITDA is expected to be between $145 million to $153 million.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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