Not sure what this is about….perhaps a few things:
- not unusual for $RMD to sell on results in US unless a very strong “beat” (this was a modest NPAT “beat”, and missed some values on %GM.). When this happens. It usually reverses over coming days and weeks.
- Tarrifs news unfolding during trading day … market may not understand that most of $RMD product for US is made in Singapore (so not Mexico, Canada or China which are in the gunsights.) Perhaps all high P/E importers just got whacked? (Pharma generally did OK, though)
ASX should follow down, but likely muted. Unlikely to bring it into the “buy” zone for me … I need >10% for that, but fingers crossed. I’ll be watching and even lay in a buy order at $36…. You never know!
Analyst updates from the result are all increases in PT as far as I can see so far.