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

2026-09-26 12:30 • The Motley Fool Positive Axe Cap view: Selective

With global military spending reaching $2.9 trillion annually, defense contractors RTX and Honeywell Aerospace are positioned to benefit from increased government defense budgets. RTX boasts a $289 billion backlog that could reach $460 billion by 2028, driven by U.S. military replenishment needs and international demand. Honeywell Aerospace, recently spun off as a standalone company, is investing $500 million to expand domestic facilities and capture more Department of Defense contracts.

Axe note: RTX’s expanding backlog reflects broader defense spending trends, offering a cautious read-through for JSE investors.

2026-09-26 12:15 • The Motley Fool Positive Axe Cap view: Selective

A $20,000 investment in Costco today would purchase 22 shares generating approximately $129 in annual dividend income. Based on Costco's historical dividend growth rate of 11-14% annually over the past decade, this dividend income could grow to between $330-$420 by 2036, more than tripling the initial yield. The analysis excludes special dividends that Costco regularly pays, which could further enhance returns.

Axe note: Costco’s steady double-digit dividend increases highlight lessons for JSE investors chasing reliable income growth.

2026-09-26 12:04 • The Motley Fool Negative Axe Cap view: Bearish

Ford Motor Company offers an attractive 4.6% forward dividend yield with a well-covered payout ratio of 30.6%. However, the article cautions dividend-focused investors against treating it as a long-term 'set it and forget it' holding due to Ford's history of suspending dividends during economic downturns (2007 and 2020), cyclical business performance, and poor dividend growth track record. While the stock trades at a low valuation of 7x forward earnings, ongoing headwinds from inflation, tariffs, and geopolitical uncertainty pose risks.

Axe note: Ford offers a juicy dividend today, but history warns of future cuts and volatility.