Financial analysts at Morningstar are predicting a moderation in profit growth for Australian companies for fiscal year 2024.

They attribute this trend to the anticipated rise in interest rates and operating costs.

These higher operating costs are expected to squeeze the profit margins of Australian firms.

Major banking institutions such as ANZ Group (ASX:ANZ), National Australia Bank, and Westpac are scheduled to announce their annual results in November.

According to Morningstar, a key area to watch will be the growth in expenses within the banking industry, particularly in relation to wage inflation.

The Australian index is anticipated to remain under pressure and fluctuate within a relatively narrow range of between 6,800 and 7,200 throughout the December quarter, as stated by Morningstar.

They added that the progress of stimulus from Chinese authorities will have a significant impact.

ANZ Group (ASX:ANZ) is one of the largest banking and financial services entities in Australia.

Analysts at Jefferies have increased the price target on Australia’s share registry company, Computershare (ASX:CPU), from A$24.02/share to A$27.22/share.

Computershare announced it is planning to sell its U.S.

mortgage services division to asset manager Rithm Capital for $720 million.

Both Morningstar and Jefferies view the sale as a favourable progression considering it simplifies the business while getting rid of an underperforming, capital-heavy asset.

Morningstar suggests the sale will free up capital for higher-return investments and bolster core business operations.

The sale of the unit is projected to bolster Computershare’s operating margins to 38% per year, on average, up to FY28.

While Morningstar sees potential for more acquisitions, Jefferies reveals mergers and acquisitions are now a key focus for the group.

Computershare’s stock value had dropped 1.5% this year up till the last closing.

Computershare (ASX:CPU) is an Australian share registry company.

Morningstar analysts have perceived the sale of Computershare’s U.S.

mortgage business as a favorable development.

The Australian share registry business has announced that it is selling its U.S.

mortgage services sector to asset manager Rithm Capital for $720 million.

The brokerage firm indicates that this sale will free up resources for investments offering higher returns, which will empower the company to bolster its core operations.

The sale of this division is projected to increase Computershare’s annual operating margins to 38% by FY28, according to Morningstar.

The brokerage also sees potential for further acquisitions.

At the end of last trading session, the company’s stocks had seen a decrease of 1.5% this year.

Computershare is an Australian stock transfer company that provides corporate trust, stock transfer and employee share plan services.

Analysts at Morningstar are optimistic about a potential turnaround for the explosives business of Incitec Pivot (ASX:IPL), which could boost investor sentiment in the near future.

The brokerage has retained a fair value estimate of A$3.50/share for the diversified chemicals company.

It is projected that the earnings of Incitec Pivot (ASX:IPL)’s explosive division’s earnings before interest, tax, depreciation, and amortization (EBITDA) will return to pre-COVID levels by fiscal 2024.

This anticipated turnaround is attributed to a strong increase in price and growth demand.

The sound balance sheet of Incitec Pivot (ASX:IPL) could also potentially allow for special dividends, buybacks or acquisitions.

Regarding IPL stock ratings, 4 of 10 analysts rate it as ‘buy’ or higher, 5 rate it as ‘hold’ and 1 rates it as ‘sell’ or lower, according to LSEG data.

IPL stock has seen a decrease of 19.7% this year, up to the last close.

Incitec Pivot is a diversified chemical company specializing in manufacturing explosives and fertilizers.

Shares of solar energy company SunPower (ASX:SPWR) declined by 3.8% to $5.41 after Raymond James downgraded the firm from ‘strong buy’ to ‘outperform’.

The research firm cited net energy metering (NEM) challenges in California as one of the reasons for the downgrade.

SunPower’s inventory levels were also noted as higher than those of its competitors, following supply chain disturbances which caused a buildup and double-ordering.

Moreover, Raymond James anticipates slow demand from China as a shift towards electric vehicles seems more likely under the new emission regulations.

The firm slashed the price target on SunPower’s shares to $9 from $17, a potential upside of 60.1% from the company’s last closing price.

In the meanwhile, out of 25 analysts covering the share, only 3 rated it as ‘buy’ or higher, 19 recommended a ‘hold’, and 3 suggested a ‘sell’; the median price target is $10.

Raymond James also downgraded TPI Composites and Tritium (ASX:DCFC) due to revenue and financing concerns.

SunPower’s shares have fallen by 69.9% so far this year.

The company is a solar energy corporation which aims to design, manufacture, and deliver high-performance solar electric systems worldwide.

Shares of copper mining companies have experienced a downfall due to the decrease in red metal prices.

Factors including the anticipation of an additional increase in exchange inventories and the skyrocketing value of the U.S.

dollar have intensified concerns about the demand for industrial metals.

Copper prices, which are fundamental in power and construction industries, have recently dropped to $7,956.5 per metric ton - the lowest since May 26.

Copper mining conglomerates, Freeport McMoRan (ASX:FCX) and Southern Copper (ASX:SCCO), have both seen their shares drop by 1.2%.

Another noticeable drop is from Teck Resources which saw its shares dipped 2% to C$55.78.

The U.S.

listed shares of mining magnates BHP (ASX:BHP) and Rio Tinto (ASX:RIO) have also dropped 1% and 1.3%, respectively.

Further exacerbating this downward trend, stocks of copper in LME registered warehouses at 168,600 tons have risen over 200% since July’s middle and are currently at their peak since May of the previous year.

Freeport McMoRan (ASX:FCX), a significant contributor in the mining sector, mainly focusses on the exploration and production of mineral resources such as copper, gold, and molybdenum.

Catalyst Metals (ASX:CYL) has appointed David Jones as its Non-Executive Chairman.

Jones brings a wealth of industry experience and leadership to the organisation.

Catalyst Metals (ASX:CYL) is a firm specializing in the mining industry.

Catalyst Metals (ASX:CYL) has announced the appointment of David Jones as their Non-Executive Chairman.

The experienced businessman will be managing the strategic direction of the organization.

Catalyst Metals (ASX:CYL) is a company dedicated to exploring and developing gold projects.

Shares of electric vehicle charging network provider ChargePoint (ASX:CHPT) were noted to be down 0.43% in premarket trading.

Needham’s Equity Research division has trimmed the price target for the company to $8 from its earlier rating of $9, however, maintaining the ‘buy’ rating.

This new price target indicates a hopeful 68.42% upside to the stock’s last closing price.

Needham justifies its decision citing elevated near-term uncertainty and poor investor sentiment.

In spite of a cautious short-term view, Needham remains optimistic about the longer-term prospects of EV adoption and the growth of EV chargers.

This sentiment fosters the belief that ChargePoint, as an industry leader, stands to gain directly.

Among 22 brokerages, seventeen rate the ChargePoint stock as ‘buy’ or higher and five as ‘hold’.

Their median price target stands at $10.

ChargePoint’s stock has seen a decrease of 50.16% year-to-date in comparison to the 3.48% rise seen in the Dow Jones U.S.

Industrials Index.

ChargePoint is a provider of electric vehicle charging network.

Yowie Group has announced the retirement of its CFO.

Wayne Brekke, the chief financial officer, has stepped down from his role within the company.

Yowie Group (ASX:YOW) added no further information regarding his departure at this time.

Yowie Group is an Australian-based confectionery company known for its Yowie chocolates and related merchandise.