S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) traded in a narrow range today and ended up finishing up 0.11% to 6,066.1.
[VIDEO] Market Close: The Australian sharemarket has managed to edge higher on Friday with the ASX 200 up 6 point to 6066. Over the week, the index fell 5 points with the muted trade amid US-China trade negotiations and mixed earnings results. https://t.co/4AkWjlUM5O #ausbiz
— CommSec (@CommSec) February 15, 2019
PPE and JIN continue their growth narratives delivering better than expected December halves with PPE opening up over 10% from yesterday's close to $2.55.
Domain Holdings Australia Ltd (ASX:DHG) was up over 10% to $2.35 at 11.15am as it surprised the market with a better result than expected given it is exposed to real estate.
READ: Jumbo Interactive releases strong result and shares pop 10% on the open
Jumbo released its result as the market was opening not giving investors a lot of time to digest it with the shares opening up 95 cents or 10.2% to $10.20.
However, in the first 10 minutes, all of these gains had been wiped out with the shares touching $9.13, which was lower than yesterday's close of $9.25.
Since 10.40am the share price has slowly crept back up to around $9.60 around lunch being up 4% on the day so far.
Baby Bunting an example of a great result not living up to the hype
The headline numbers for Baby Bunting are nothing short of spectacular with sales up 17.2%, same-store sales growth of 9.5%, a stronger gross margin, EBITDA up 25% and FY19 EBITDA guidance maintained.
So with the stock down 5% mid-morning to $2.20, what went wrong? It did not meet expectations.
We touched on this earlier in the week, expectations mean everything relative to the nominal numbers - 500% growth isn't so great if the market expected 700% growth.
Baby Bunting has been an impressive turn-around story over the past 12 months but the question for investors becomes, is the turnaround complete or can this company continue to grow?
The opening hour of trade is not the final judgement however, with plenty of time left in the day for the stock to redeem itself.
Investors still can't decide on yesterday's TWE result
Even with the flurry of analyst notes hitting the markets last night and pre-market this morning, investors can't decide on TWE, so far it's looking negative.
Treasury Wine Estates Ltd (ASX:TWE) opened down 2.4% to $16.50 and continued to fall before finding buying support at $16.11 and rallying all the way up to $16.65.
The stock is still down 1.4% on the day but it's trending positively over the day so let's see how this one finishes.
UPDATE: TWE reversed and finished down 4.2% on the day to $16.19.
Pre-market: Reporting Season: DHG, MPL, HLS, WHC, BBN, SGM, LNK, JIN
The US S&P 500 Index finished down slightly by 7.3 points (-0.27%) to 2,745.73.
Reporting season continues with some of today's bigger names including Medibank Private Ltd (ASX:MPL), Sims Metal Management Ltd (ASX:SGM), and Link Administration Holdings Ltd (ASX:LNK).
Other stocks reporting include DHG, HLS, URB, WHC, BBN, 3PL, JIN and PPE.
Morning Report 15 Feb 19: US Stocks rattled by weak retail sales pic.twitter.com/UNhe8r7oNC
— CommSec (@CommSec) February 14, 2019