Hot Stocks: Renergen, NAB, JB Hi-Fi

US stocks fell for a second straight session on Tuesday, with the Dow down 390 points (0.95%) and tech and auto shares weighing on sentiment amid renewed trade uncertainty. President Trump undermined hopes of imminent trade deals by stating, “We don’t have to sign deals,” contradicting earlier White House messaging. Meanwhile, the UK signed a landmark free trade agreement with India, expected to boost its economy by £4.8 billion by 2040. Tesla and Goldman Sachs both dropped 1.8%, and big tech names like Nvidia and Meta also declined. Investors are watching the Federal Reserve’s two-day policy meeting, with rates expected to remain on hold. In corporate news, DoorDash announced $5.1 billion in acquisitions, including Deliveroo and SevenRooms, aiming to expand globally—though its stock fell 5%. Oil rose over 3%, gold held steady, and the Australian dollar traded at 64.95 US cents. SPI futures point to a 36-point drop at the open.

JB Hi-Fi Limited (ASX:JBH) reported continued sales growth across its businesses for the third quarter of FY25, despite a competitive retail environment. In the three months to 31 March 2025, JB Hi-Fi Australia delivered total sales growth of 6.5%, while its New Zealand arm saw a strong 17.5% increase. The Good Guys posted a 4.6% rise, and newly acquired e&s recorded 1.9% growth for the period. Year-to-date, JB Hi-Fi New Zealand led with 19.2% total sales growth, followed by The Good Guys at 7.8%, JB Hi-Fi Australia at 7.0%, and e&s at 5.2%. CEO Terry Smart said the company remains focused on customer service and value heading into the financial year-end.

Renergen Limited (ASX:RLT) has secured a major legal victory in South Africa’s High Court, with a ruling confirming that its subsidiary Tetra4’s upstream petroleum activities fall outside the jurisdiction of the Gas Act 48 of 2001 and the regulatory oversight of NERSA (the National Energy Regulator of South Africa). The judgment, delivered on 2 May 2025, affirms that Tetra4 does not require a NERSA licence to trade gases like methane and helium, provided the activities do not involve the piped gas industry. It also clarifies that helium, as a noble gas, is not regulated by the Gas Act. CEO Stefano Marani welcomed the decision as a landmark win that resolves regulatory uncertainty, reduces duplication, and supports upstream gas development.

National Australia Bank (ASX:NAB) reported cash earnings of $3.58 billion for the half year to March 2025, up 0.8% from the previous half and 1.0% year-on-year, driven by underlying profit growth, lower credit impairment charges, and stable net interest margin. Statutory net profit declined 1.7% to $3.41 billion. Revenue rose 1.7%, while expenses increased 1.4%, reflecting higher personnel and tech costs. Divisional performance was mixed: Business and Private Banking and Corporate and Institutional Banking posted modest gains, while Personal Banking earnings fell 6.8%. New Zealand Banking rose 12.5% in local currency terms. NAB maintained strong capital metrics with a CET1 ratio of 12.01% and raised over $20 billion in term funding during the half. The bank declared a fully franked interim dividend of 85 cents per share. CEO Andrew Irvine said the refreshed strategy is focused on customer advocacy, simplification, and tech modernisation, while warning that global trade tensions remain a key risk.