13 ASX stocks that should be on your radar

Reporting season is an important time for companies and investors. Results can drive share prices for the next six months and beyond, and investors often make buying and selling decisions based on a big beat or miss. 

According to Marcus Ryan, Deputy Portfolio Manager, Large cap equities, the season was "mixed", as demonstrated by "an even number of result beats and misses". 

"Earnings declined across the market by around 4%, and that was broadly in line with the market expectation. Sitting behind that, resources and banks were a little bit better, while industrials and REITs were a little bit softer", says Ryan. 

He adds that the cautious outlook was evident in the guidance statements, where four in ten companies guided below consensus expectations, while only one in ten guided above consensus expectations. 

"With that as the context, we felt overall it was a pretty credible reporting season and a credible outcome with the market grinding half a percent higher", says Ryan. 

Despite the "mixed" and "cautious" monikers attached to the season, the Yarra equities team is finding no shortage of compelling opportunities. In that vein, Ryan, Joel Fleming, and Michael Steele sat down to have an in-depth conversation about said opportunities across the entire market cap spectrum — from micro to large.

Don't miss the reporting season review, featuring key insights from within each of the guests respective market cap spaces, and a discussion of two key themes that all three guests are participating in. And, of course, a fistful of compelling stock ideas. 

Please note this interview was filmed on 3 September 2024

Time codes

0:27 - Characterising the season
2:04 - What were the major themes?
3:43 - Highlight of the season
4:30 - Lowlight of the season
5:01 - Large cap opportunities: quality income
6:36 - Large cap opportunities: healthcare
7:56 - Is 2024 still the year of small caps?
9:04 - Earnings growth outlook for small caps
10:01 - Lower rates and their impact on micro caps
11:12 - Two high-conviction micro cap ideas
12:37 - The resources sector and the one (commodity) above all
14:05 - Large cap resources pick
14:51 - Small cap resources pick
15:50 -  Micro cap resources pick
16:59 - Innovation and value creation
17:24 - Innovative micro cap
18:20 - Innovative small cap
19:04 - Innovative large cap

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