16 stories mentioning ASX:MP1
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Megaport (ASX:MP1) said JPMorgan Chase and its affiliates ceased to be substantial holders of the firm on Tuesday, according to a Friday Australian bourse filing.Its shares rose 1% in recent trading on Friday.
Australian shares were flat with a negative bias on Thursday after the US military launched fresh strikes on Iran for the second straight day.The S&P/ASX 200 Index was little changed to close at 8,633.20.On Wall Street, the Nasdaq Composite fell 1.98%, the Dow Jones declined 1.87%, and the S&P 500 was down 1.62%.The US military launched strikes on Iran after President Donald Trump promised new attacks if no peace deal is secured. Iran declared the closure of the Strait of Hormuz in response, and Brent crude oil futures rose over 1% to around $94 per barrel.On the domestic front, Australia's consumer inflation expectations fell by 0.1 percentage points in June to 5.5%, according to the Melbourne Institute Survey of Consumer Inflationary Expectations. Trimmed mean inflation expectations, after spiking in April, have moderated for two consecutive months, while wage expectations have remained unchanged for the past seven months, the survey added.In company news, Southern Cross Media (ASX:SXL) said it will cut between 250 and 300 full-time roles before June 30 as part of a cost reduction program, resulting in fiscal year 2026 restructuring charges of around AU$20 million. It now expects fiscal 2026 revenue of AU$1.86 billion to AU$1.87 billion, down from a previous guidance range of AU$1.91 billion to AU$1.92 billion.Alcoa (ASX:AAI) CFO Molly Beerman warned that its alumina unit will be "underwater" due to losses caused by energy disruptions and the blockage of the Strait of Hormuz, speaking during a presentation at the Wells Fargo Industrials & Materials Conference.Lastly, Megaport (ASX:MP1) said the retail component of its fully underwritten one-for-3.08 pro rata accelerated non-renounceable entitlement offer has opened, expected to raise about AU$309 million at AU$14.30 per share, the same price and ratio applied to the institutional component, which raised about AU$518 million.
Megaport (ASX:MP1) said the retail component of its fully underwritten one-for-3.08 pro rata accelerated non-renounceable entitlement offer has opened, expected to raise about AU$309 million at AU$14.30 per share, the same price and ratio applied to the institutional component, which raised about AU$518 million, according to a Thursday Australian bourse filing.The company said eligible retail shareholders who take up their full entitlement are also offered the opportunity to apply for up to 50% additional new shares in excess of their entitlement at the offer price, with the retail entitlement offer expected to close on June 29.
Megaport (ASX:MP1) has an average rating of overweight and mean price target of AU$21.72, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
(Updates to add share movement in the headline and the fourth paragraph)Megaport (ASX:MP1) completed the institutional component of its fully underwritten 1-for-3.08 pro rata accelerated non-renounceable entitlement offer at AU$14.30 per share, according to a Friday Australian bourse filing.The company raised gross proceeds of roughly AU$518 million and will issue about 36.2 million new shares, per the filing. The new shares issued under the institutional entitlement offer are expected to start trading on June 15.The company said the retail component of the entitlement offer is expected to raise about AU$309 million, opening June 11 and closing June 29.The company's shares rose 7% to their highest since November 2025 in recent Friday trade.
Megaport's (ASX:MP1) share price target was upgraded by Citi to AU$22.10 after securing artificial intelligence contracts that are expected to boost earnings "materially," the Australian Financial Review reported Friday.Citi upgraded its fiscal year 2027 earnings before interest, taxes, depreciation, and amortization (EBITDA) expectations for the company to about AU$255 million.Additionally, the financial services firm now forecasts fiscal year 2028 EBITDA to reach roughly AU$518 million.Despite increased risk from a graphics processing unit pool investment with shorter contracts and longer lead times, the economics remained "attractive," with anticipated payback periods of less than 2.5 years, according to analyst Siraj Ahmed.Megaport shares rose 10% in morning trade on Friday and earlier reached their highest since November 2021.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Megaport (ASX:MP1) completed the institutional component of its fully underwritten 1-for-3.08 pro rata accelerated non-renounceable entitlement offer at AU$14.30 per share, according to a Friday Australian bourse filing.The company raised gross proceeds of roughly AU$518 million and will issue about 36.2 million new shares, per the filing. The new shares issued under the institutional entitlement offer are expected to start trading on June 15.The company said the retail component of the entitlement offer is expected to raise about AU$309 million, opening June 11 and closing June 29.
Megaport (ASX:MP1) launched its Megaport Storage platform designed to deliver integrated compute, network, and storage services, according to a Thursday statement from the company.The platform integrates enterprise cloud storage directly into the Megaport Network and Latitude.sh compute platform, with block, file, and object storage focused on high-speed performance use cases.It also uses the same "dedicated backbone" as Megaport's networking and compute services, which will reduce public internet bottlenecks and unpredictable costs, per the statement.
Megaport (ASX:MP1) is riding the artificial intelligence (AI) boom, especially increased workloads in AI Inference, Jefferies said in a note on Wednesday.The company has won four new AI infrastructure contracts worth roughly AU$458.9 million in total. Jefferies expects the contracts to bring in a 21% annualized return on investment over six years.The investment firm said Megaport's "competitive advantage" lies in its ability to distribute graphics processing units across several data centers and connect them through its network platform.Analysts at the brokerage expect the company's Network business to benefit from growth in AI Inference and agentic workloads, as customers need fast, low-latency, high-performance connections to access computing power across multiple data centers.Jefferies maintained a buy rating and raised its price target to AU$19 from AU$18.40.
Megaport (ASX:MP1) won four new artificial intelligence (AI) infrastructure contracts worth roughly AU$458.9 million in total, according to a Wednesday filing with the Australian bourse.The company also plans to establish an on-demand graphics processing units (GPU) pool, supported by an investment of AU$350 million, to grant enterprise customers access to AI infrastructure through contracted and consumption-based commercial models, the filing said.Additionally, the company launched a fully underwritten 1-for-3.08 pro rata accelerated non-renounceable entitlement offer to raise AU$827.3 million to secure the capital expenditure required to fulfill the new contracts and seed the GPU pool, per the filing.
Australian shares were flat with positive bias on Thursday as the summit between the US and Chinese Presidents gets underway.The S&P/ASX 200 Index was little changed to close at 8,640.70.US President Donald Trump and Chinese counterpart Xi Jinping met in Beijing. Brent crude oil futures were trading around $105.89 per barrel. Gold fell as the hotter-than-expected US inflation data increased the chances of a tighter monetary policy in the US.On the domestic front, Australia's household spending fell 1.2% in April, reversing a fuel-driven surge in March as lower spending on petrol and public transport weighed on transport and recreation spending, according to the Commonwealth Bank of Australia's Household Spending Insights."The oil shock resulting from the current Middle East conflict has not had the size of impact that was initially expected," the bank's head of Australian Economics, Belinda Allen, said.In company news, Australia's Federal Court ruled Thursday that Coles Group (ASX:COL) deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices. The case against Coles was brought by the Australian Competition and Consumer Commission (ACCC) in 2024, saying Coles increased prices on certain items for a very short period of time before putting them on a discount, making the promotions illusory in nature. Its shares fell 2% on market close.Xero (ASX:XRO) reported Thursday that it swung to a loss of NZ$0.19 per share in the fiscal year 2026 from a profit of NZ$1.47 a year earlier. Total operating revenue for the 12 months ended March 31 was NZ$2.75 billion, compared with NZ$2.1 billion a year earlier. Its shares closed down 9%.Lastly, Megaport (ASX:MP1) said its unit Latitude.sh has secured three major GPU, CPU, network, and storage contracts with a combined total contract value (TCV) of about AU$254 million and annualized recurring revenue (ARR) of about AU$90.6 million. Its shares were up 28% on market close.
(Updates to add stock movement in the headline and last paragraph)Megaport (ASX:MP1) said its unit Latitude.sh has secured three major GPU, CPU, network, and storage contracts with a combined total contract value (TCV) of about AU$254 million and annualized recurring revenue (ARR) of about AU$90.6 million, according to a Thursday Australian bourse filing.The company said the contracts are with two US-based technology customers running AI applications, with two contracts covering about 90% of the TCV on 36-month initial terms and the third on a 24-month term.The contracts require about AU$140.3 million in incremental capital expenditure primarily for high-performance NVIDIA GPU, compute, network, and storage hardware, with an attractive payback of about two years, the filing added.Megaport will fund the capital expenditure via a combination of existing cash reserves and available capacity under a newly upsized AU$150 million debt facility, with hardware orders placed and delivery expected in late fiscal year 2026 or early fiscal year 2027, the filing added.Pro-forma liquidity as at December 31, 2025, including these contracts and the strategic deal announced on April 27, would have been about AU$199.1 million, it added.The company reaffirmed fiscal year 2026 revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for the combined group.The company said its fiscal year 2026 group capital expenditure guidance of AU$90 million to AU$100 million remains unchanged, excluding these contracts and the recent strategic deal, though capital expenditure could increase by up to a further AU$140.3 million if equipment is delivered before June 30.The company's shares jumped around 34% in recent Thursday trade.
Megaport (ASX:MP1) said its unit Latitude.sh has secured three major GPU, CPU, network, and storage contracts with a combined total contract value (TCV) of about AU$254 million and annualized recurring revenue (ARR) of about AU$90.6 million, according to a Thursday Australian bourse filing.The company said the contracts are with two US-based technology customers running AI applications, with two contracts covering about 90% of the TCV on 36-month initial terms and the third on a 24-month term.The contracts require about AU$140.3 million in incremental capital expenditure primarily for high-performance NVIDIA GPU, compute, network, and storage hardware, with an attractive payback of about two years, the filing added.Megaport will fund the capital expenditure via a combination of existing cash reserves and available capacity under a newly upsized AU$150 million debt facility, with hardware orders placed and delivery expected in late fiscal year 2026 or early fiscal year 2027, the filing added.Pro-forma liquidity as at December 31, 2025, including these contracts and the strategic deal announced on April 27, would have been about AU$199.1 million, it added.The company reaffirmed fiscal year 2026 revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for the combined group.The company said its fiscal year 2026 group capital expenditure guidance of AU$90 million to AU$100 million remains unchanged, excluding these contracts and the recent strategic deal, though capital expenditure could increase by up to a further AU$140.3 million if equipment is delivered before June 30.
Megaport (ASX:MP1) launched Megaport Distributed Denial of Service (DDoS) Protection designed for filtering malicious traffic directly within the Megaport network, according to a Wednesday statement from company.The new feature integrates real-time traffic filtering into the company's internet service to reduce latency, avoid external scrubbing, and maintain uptime during attacks, the company said.In addition, the new capability enables self-service deployment in under a minute, applying protection at the internet protocol and host level so only harmful traffic is blocked.It also offers simplified, capacity-based pricing and automated protection profiles that help distinguish attacks from legitimate traffic surges, the company said.The company's shares rose around 3% in recent Wednesday trade.
Australian shares were flat with a negative bias at Monday's close as the critical Strait of Hormuz in the Middle East continued to be blocked.The S&P/ASX 200 Index was little changed to close at 8,766.40.Brent crude oil futures gained 1.2% to reach $106.57 per barrel. US President Donald Trump cancelled a trip to Islamabad, Pakistan, by US envoys for talks with Iran over the weekend. Iran gave the US a new proposal for reaching a deal on reopening the Strait and ending the war, Axios reported.In company news, Atlas Arteria (ASX:ALX) has received an unsolicited off-market takeover proposal from IFM to acquire all remaining securities it does not already own at AU$4.75 per share in cash. IFM has indicated that the offer price may increase to AU$5.10 per share if it obtains at least a 45% relevant interest before the offer closes, subject to certain "best and final" conditions. Its shares jumped 13% on market close.Megaport's (ASX:MP1) wholly-owned unit, Latitude.sh, signed a 36-month contract with a new US-based customer, with a total value of around $25.1 million, representing around $8.4 million in annualized recurring revenue. Its shares closed up 5%.Lastly, Origin Energy (ASX:ORG) reported March quarter production of 164.5 petajoules, down from 167.1 petajoules a year earlier. The company reported commodity revenue of AU$1.86 billion for the quarter, down from AU$ 2.31 billion a year ago. Its shares were down over 5% on market close.
Megaport's (ASX:MP1) wholly-owned unit, Latitude.sh, signed a 36-month contract with a new US-based customer, with a total value of around $25.1 million, representing around $8.4 million in annualized recurring revenue, according to a Monday Australian bourse filing.The contract will be supported by around $12.2 million in incremental capital expenditure on CPU servers, the filing said.The company said it placed an order for the hardware, with delivery expected in fiscal 2026 and deployment to occur on a phased basis commencing in the first half of fiscal 2027 in line with customer requirements.The company reaffirmed its previously provided fiscal 2026 revenue guidance of AU$302 million to AU$317 million.Megaport's shares rose 5% in recent trading on Monday.