Key takeaways:

• With reporting season coming to a close, a number of names moved the market, with the biggest impact coming from the tech and consumer discretionary sectors

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Which shares excelled?

These were the major winners over recent trading sessions:

• One of the themes from this earnings season has been strong buying support for discretionary retailers, and Kogan (ASX: KGN) extended that trend. It announced a 9.9% decline in revenue, but gross margins improved 13.2 percentage points. That saw its net profit return to the black, and the reinstatement of its dividend.
  

• Just days after CVA Asia Pacific made a play for APM Human Services International (ASX: APM), which was quickly dismissed, the private equity firm returned with an improved offer valuing APM at $1.8 billion. The new bid, valued at $2 per share, allows APM shareholders to receive all or part of their consideration in shares in an unlisted Australian public company.
  
  

• While Star Entertainment (ASX: SGR) is facing another inquiry surrounding its licence, the casino operator’s half-year results offered shareholders some respite from recent selling. SGR reported statutory net profit after tax of $9 million, while early trading in CY24 has seen revenue and earnings continue to track the company’s first-half run rate.
  
  

• In its half-year results, data centre operator NextDC (ASX: NXT) unveiled a 31% increase in revenue to $209.1 million, alongside a 5% improvement in underlying EBITDA to $102.0 million. The company is forecasting total revenue of $400 million to $415 million and underlying EBITDA in the range of $190 million to $200 million for FY24.
  
  

• This week’s top performers also included Wildcat Resources (ASX: WC8), Telix Pharmaceuticals (ASX: TLX), as well as lithium duo Liontown Resources (ASX: LTR) and Pilbara Minerals (ASX: PLS).

Which shares dragged on the market?

These shares weighed on the local market across the course of the week:

• ASX 200 pathology firm Healius (ASX: HLS) swung to a net loss after tax of $14.2 million during the first half of FY24, and a statutory loss of $636 million after a $603 million goodwill impairment. The drop followed a 97% decline in COVID testing revenue, prompting management to outline plans to pursue asset sales and close some labs and collection centres.

• Amid higher operating expenses and lower than expected capital unit sales to hospitals, Nanosonics (ASX: NAN) saw its net profit fall 40% to $6.2 million.
  
  

• Earnings from TPG (ASX: TPG) led to a sell-off in the telco’s share price. Despite reporting an increase in revenue, higher depreciation and amortisation costs impacted statutory earnings. In addition, TPG’s FY24 outlook for EBITDA between $1.95 billion to $2.025 billion also fell short of broker forecasts, including Goldman Sachs’ estimate of $2.05 billion.
  
  

• Fortescue (ASX: FMG) traded ex-dividend this week, weighing on the market, while there were also steep declines for Zimplats (ASX: ZIM), Johns Lyng (ASX: JLG), and NIB Holdings (ASX: NHF).