AU Morning Wrap: ASX Shares Flat; James Hardie, Sonic Dive

The $Nasdaq Composite Index (.IXIC.US)$ and the $S&P 500 Index (.SPX.US)$ closed up at record highs on Monday ahead of Nvidia earnings, the last of the "Magnificent Seven" companies to report earnings.

The tech-heavy gained 0.65% to reach an all-time intraday high and close at a record. The $S&P 500 Index (.SPX.US)$ inched up 0.09%, a record high as well. The $Dow Jones Industrial Average (.DJI.US)$ fell 196.82 points, or 0.49%.

Australian shares have eased after a mixed session on Wall Street, with losses in healthcare offsetting gains in tech. The $S&P/ASX 200 (.XJO.AU)$ fell 0.2% or 17.7 points to 7846, although it remains within striking distance of its record closing high of 7896.4 set on March 28. The All Ords also retreated 0.2%. The mixed performance reflects ongoing uncertainty around the global economic recovery and the impact of inflation on central bank policies.

Building products group $James Hardie Industries PLC (JHX.AU)$ was the biggest laggard, with its shares down 11.1% after net income guidance for 2025 came below expectations. Diagnostics giant $Sonic Healthcare Ltd (SHL.AU)$ saw its shares tumble more than 10% following its warning of lower-than-expected profit due to inflation and currency exchange headwinds.

The $AUD/USD (AUDUSD.FX)$ is trading at US66.75¢, an increase of 0.11%.

As of latest data, $Bitcoin (BTC.CC)$ is priced at $71,172, up 7.50% in the past 24 hours, while $Ethereum (ETH.CC)$ is priced at $3,682, up 19.86% in the past 24 hours.

Building products group $James Hardie Industries PLC (JHX.AU)$ has reported a 17% increase in full year net income to $707.5 million USD. The company's strong performance was driven by increased demand for its products in the US housing market.

Telecom company $Telstra Group Ltd (TLS.AU)$ has announced plans to cut up to 2,800 jobs and has reiterated its guidance for FY 2024. The job cuts come as part of a restructure aimed at simplifying the company's operations and reducing costs. Despite the cuts, Telstra expects to achieve its target of a single-digit percentage decline in underlying earnings for FY 2024.

Diagnostics giant $Sonic Healthcare Ltd (SHL.AU)$ has warned that its profit for the fiscal year will be lower than expected due to inflation and currency exchange headwinds. The company expects its underlying net profit for the year to be in the range of AUD 710 million to AUD 730 million, down from its previous forecast of AUD 750 million.

Hard Rock International has denied any link to a proposal for struggling Australian casino group $The Star Entertainment Group Ltd (SGR.AU)$, despite Star Entertainment's announcement on Monday that it had received an approach from a related company.

Producer $Alumina Ltd (AWC.AU)$ and its US partner $Alcoa (AA.US)$ have amended their proposed offer to comply with US regulation. The amended offer will allow CITIC, Alumina's second-largest shareholder, to receive a small portion of Alcoa's convertible shares.