Stocks of the Hour: Inghams, PolyNovo, Liontown ResourcesCraig Foley
Chicken producer Inghams (ASX:ING) has felt the pain from the Omicron wave across the east side of the country. The outbreak has resulted in staff shortages putting downward pressure on its sales performance. The condition has led to several products being suspended amid the supply chain disruptions. Shares have taken a dive trading 5.5 per cent lower at $3.33.
Meanwhile, sales in biotech giant PolyNovo (ASX:PNV) have surged 45 per cent to $16.3 million from a year ago, led by encouraging sales in the US. The company is now focusing on initiatives in markets outside the US after describing its sales performance as “patchy”. Shares are soaring 15 per cent higher at $1.65.
Elsewhere, shares in Liontown Resources (ASX:LTR) are in trading halt pending an announcement. The move comes after they inked a deal yesterday for a contract worth $10 million for its Kathleen Valley Lithium Project in WA. Shares last traded at $1.55.
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Source: Finance News Network