Clear market notes built around the JSE, the rand, and what matters locally.

2026-10-01 06:30 • The Motley Fool Positive Axe Cap view: Selective

Amazon continues to forgo dividend payments despite reaching maturity, instead investing heavily in AI infrastructure and data centers ($220 billion in 2026). The article argues this strategy benefits long-term investors through tax-efficient capital appreciation and strong growth, particularly in AWS which grew 33% and generates 60% of operating income. The company's 251,000% lifetime return demonstrates the effectiveness of reinvesting capital rather than paying dividends.

Axe note: Amazon’s choice to reinvest profits rather than pay dividends aligns with strong growth in cloud and AI, offering lessons even for local investors.

2026-10-01 06:05 • The Motley Fool Positive Axe Cap view: Selective

GE Vernova's CEO Scott Strazik delivered bullish remarks at a Morgan Stanley conference, highlighting accelerating backlog growth, stronger-than-expected power orders, margin expansion across all segments, and a profitability turnaround in the wind business. The company is pulling forward its $200 billion backlog milestone to early 2027 and expects larger margin expansion in 2026 than the double-digit gains achieved in 2025.

Axe note: GE Vernova's CEO signals faster backlog growth and stronger profitability, underscoring global industrial demand trends relevant through USD/ZAR shifts.

2026-10-01 01:40 • The Motley Fool Positive Axe Cap view: Selective

CarMax reported strong Q2 earnings with revenue up 19.5% YOY and EPS up 81.2%, but the stock fell 7% the day after the announcement, closing below its pre-earnings price. The company's new CEO implemented a competitive pricing strategy that increased unit sales and average selling prices while reducing per-unit margins. Earnings growth was driven by expanded auto financing (including Tier 2 borrowers), higher service revenues, and lower operating expenses. Despite the stock's recent volatility, analysts view CarMax as an improving turnaround play benefiting from regulatory changes and operational improvements.

Axe note: CarMax's recent quarterly earnings show robust growth, yet market reaction signals caution.