Weekly| New Contracts & Customers Drove CTD & NXT Up

As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 7,361.60 points, up 1.72% in the past 5 days.

During the last 5 trading days,  $Corporate Travel(CTD.AU)$ $Nicolet Bankshares Inc.(NIC)$ $Appreciate Holdings, Inc.(SFR)$ $Nextdc(NXT.AU)$ $联盛集团(LLC.AU)$ were up 15.49%, 14.79%, 11.92%, 11.78%, and 10.83% respectively.

1. $Corporate Travel(CTD.AU)$ up 15.49% after it won a $3 billion contract

Corporate Travel Management manages the purchase and delivery of travel services for the corporate market.

Corporate Travel Management's stock soared because of the announcement of its £1.6 billion ($3 billion) contract with the UK Home Office for bridging accommodation and travel services over the next two years.

Although the exact value of the contract to the company's bottom line is not yet clear, investors were optimistic about the transaction.

Corporate Travel Management's strategic acquisitions during the pandemic, including the buyout of US-based Travel and Transport and Helloworld Travel's business and entertainment travel arm, have expanded its global footprint, placing it among the world's leading global mid-market corporate travel managers.

The company posted record European total transaction value (TTV) of $924.3 million in the first half of FY24, up 15% from a year earlier, and the latest deal with the UK Home Office is expected to propel its European operations into its biggest market.

2. $Nickel Industries Ltd(NIC.AU)$ up 14.79% as company head bought 2.1 million shares

Nickel Industries engages in nickel ore mining and nickel pig iron production operations in Singapore and Indonesia.

There are several factors that may have contributed to the rise in Nickel Industries' share price.

Firstly, the managing director of the company, Justin Werner, recently purchased 2.1 million shares on the market, indicating confidence in the company's future performance.

Secondly, the company announced that it was extending its debt maturity profile by issuing new notes and tendering existing ones. This may have reassured investors about the company's financial position.

Additionally, the company has diversified into the electric vehicle battery supply chain by converting some of its current production into nickel matte, which may have attracted investors interested in the growing EV market.

All of these factors combined may have contributed to the rise in Nickel Industries' share price.

3. $Sandfire Resources NL(SFR.AU)$ up 11.92% with new CEO and positive ratings from Morgan

Sandfire Resources Limited, a mining company, engages in the exploration, evaluation, and development of mineral tenements and projects.

The appointment of Brendan Harris as the new CEO and MD could have positively impacted the company's image and investor confidence.

Furthermore, the acquisition of $OZ 矿业公司(OZL.AU)$ by $必和必拓(BHP.AU)$ will leave Sandfire as the only major copper producer on the ASX 200 index, which could potentially increase demand for Sandfire's shares.

The positive rating and price target set by Morgans could have also contributed to investor optimism, as it suggests that the company has growth potential.

Finally, the prediction of an improvement in margins and the potential for dividends to be reinstated could have also increased investor interest and demand for Sandfire's shares.

4. $Nextdc(NXT.AU)$ up 11.78% with customer wins and short covering

NEXTDC Limited, a technology company, provides data center outsourcing solutions, connectivity services, and infrastructure management software in Australia.

It was reported that the company had secured new customers, leading to investor optimism and increased demand for its shares.

NextDC reported that in the wake of recent customer wins, its contracted utilisation has increased by 43%, or 35.9 megawatts (MW), to 120MW since 31 December.

The company’s new S3 data centre has been the biggest beneficiary of the new customer contracts, having now reached 46% of its total planned capacity.

Additionally, it was noted that there was short covering of NEXTDC shares, meaning that investors who had previously bet against the company's stock price were buying shares to cover their losses, potentially adding to the stock's upward momentum.

5. $联盛集团(LLC.AU)$ up 10.83%- set aside £114m for recladding work

Lendlease Group operates as an integrated real estate and investment company in Australia, Asia, Europe, and the Americas.

Lendlease Europe, has set aside £114m to cover liabilities arising from the UK government's remediation contract.

The provision primarily relates to over 50 buildings developed by Crosby, which was acquired by Lendlease from Berkeley Group in 2005. Lendlease is one of 46 house builders and developers to have signed up to the government's remediation contracts, although it signed up two weeks after the official deadline set by the Housing and Levelling up Secretary Michael Gove.

The remediation spend is expected to be spread over five years and has not taken into account clawback from the supply chain and insurances.