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Lendlease (ASX:LLC)a major construction and investment company, is in the spotlight this week at the end of its annual general meeting. Shareholders sensed a cautious outlook for next year, with continued challenges in the construction industry stemming from pandemic-era projects and rising costs. While the company refrained from changing its earnings forecast for fiscal year 25 (54-62¢ per stock), it announced a $500 million stock repurchase, contingent on the sale of specific assets. CEO Tony Lombardo highlighted that debt levels are expected to return to the target range of 5-15% by the end of fiscal 26. The company’s focus is on improving market conditions in the Investment segment , targeting profitable funds with managed growth and higher co-investment returns. The shares are trading up 1.81% at $6.76.
APA Group (ASX:APA) saw a notable rally of 3%. The company’s announcement to maintain financial year 2025 guidance for normalized EBITDA above the prior year is sparking investor interest. APA Group’s first quarter revenue increased to $256.4 million from $237.6 million in the previous quarter. However, normalized EBITDA saw a slight decline, falling to $14.8 million from $15.6 million in the same period. The reasons for this decline require further investigation. Without further details, the market will continue to closely monitor the company’s performance.
Shifting focus to small-cap stocks, Altech Batteries Limited (ASX:ATC) is experiencing strong interest from investors following a successful $4 million capital raising. This oversubscribed placement saw a 50% premium to the recent issue price of the right. The funds raised will be used to advance key battery projects, including the CERENERGY® and Silumina AnodesTM projects. These projects include securing project financing, offtake agreements and environmental approvals. The placement also resulted in the issuing of listed options attached free of charge, increasing the attractiveness for investors. The shares are trading 11.59% lower at 6.1 cents.