AU Morning Wrap: ASX Falls; Corporate Travel Tumbles 20%, Woolworths Drops 5%

$S&P/ASX 200 (.XJO.AU)$ fell at the open in line with selling on Wall Street. All three US benchmarks were lower as pre-results trading knocked the wind out of Nvidia's stock price.

$Woolworths Group Ltd (WOW.AU)$: Woolworths reported a large half-year loss, reflecting various one-time writedowns, and said that its longtime chief executive would retire. It said its net loss for the roughly six months through December was 781 million Australian dollars (US$511 million), reflecting a previously flagged writedown of its New Zealand business and a loss tied to its investment in drinks and hotel company Endeavour. The figure compares with a net profit of A$845 million a year ago.

$National Australia Bank Ltd (NAB.AU)$: National Australia Bank's rose 0.8 per cent even as cash earnings dived 16.9 per cent in the December quarter to $1.8 billion, with the lender warning of growing arrears in local home lending and a slowing economy.

$Domino's Pizza Enterprises Ltd (DMP.AU)$: Domino's Pizza Enterprises rallied 3.7 per cent despite cutting its first half dividend to 55.5¢ from 67.4¢ a year ago after net profit fell by 9.2 per cent to $58 million in the six months ended December 31.

$WiseTech Global Ltd (WTC.AU)$: Software provider WiseTech surged 8.7 per cent after posting a five per cent increase in statutory net profit to $118.2 million, allowing the company to lift interim dividend to 7.7¢, up 17 per cent. It also reconfirmed guidance for fiscal 2024.

$Scentre Group (SCG.AU)$: Westfield owner and operator Scentre rose 2.4 per cent has recorded a 41.8 per cent drop in its annual statutory profit to $174.9 million after booking an unrealised $1 billion writedown on the value of its shopping centre portfolio.

$Santos Ltd (STO.AU)$: Oil and gas giant Santos dropped 1.1 per cent when it posted a 42 per cent dip in underlying net profit to $US1.423 billion ($2.2 billion) for the year to December 31 thanks to weaker gas prices and sales, but rewarded shareholders with a 16 per cent increase in the final dividend of US17.5¢.

$Charter Hall Group (CHC.AU)$: Property fund manager Charter Hall edged lower 0.2 per cent after it swung to a $190 million loss in 2024 first half, after absorbing a $282.3 million writedown against its real estate.

$The Lottery Corp Ltd (TLC.AU)$: The Lottery Corporation advanced 3.2 per cent following a 26 per cent boost to profits at $217.4 million, despite weak economic conditions affecting the amount of money being spent on weekly lotteries and stratchies.

$Corporate Travel Management Ltd (CTD.AU)$: Corporate Travel Management's tumbled 19.8 per cent even as its revenue and other income jumped 25 per cent to $363.7 million in 1H24. The travel agency posted a 96 per cent boost to its underlying earnings before tax and amortisation at $100.7 million.

Trading Ex-div: $CommBank (CBA.AU)$, $AGL Energy Ltd (AGL.AU)$, $Insurance Australia Group Ltd (IAG.AU)$, $GQG Partners Inc (GQG.AU)$

Dividends Paid: $HomeCo Daily Needs REIT (HDN.AU)$, $HealthCo Healthcare and Wellness REIT (HCW.AU)$