Get ready for a session of ups-and-downs for some big names on the ASX today, as news emerges of big revenue growth, cost blowouts and potential regulatory probes hit the headlines.

The good: Goodman Group

It’s all good, man. At least that’s what Goodman Group’s CEO was telling investors on an analyst earnings call yesterday.

GMG issued an operational update yesterday, further extending the company’s almost hockey stick-like growth.

After taking a beating (as everyone else did) following Trump’s “Liberation Day” tariff announcements, GMG has been on a tear. Early April saw the stock tumble to $26.07 a share, but since then, prices have spiked. The company closed yesterday’s session at just shy of $33 a share.

And the most recent update means there’s more good news on the way.

CEO Greg Goodman noted that while customer decision-making is slowing globally amid uncertainty, Goodman is using that pause to strike. “Developers have pulled the handbrake up pretty well everywhere in the world,” he said, “which is giving us the opportunity… to get some big regenerative sites that we haven’t been able to sort of get at a reasonable price for a long time” .

The company is also sitting on a mountain of cash: “We’re not sitting here today pretending we’re to fund the whole lot… but we are closing partnerships and capital at the moment,” Goodman said, referencing more than $6 billion in liquidity. That dry powder matters in a capital-intensive game like data centres — where Goodman is aggressively building in high-demand markets like Tokyo, Frankfurt, Paris and Sydney .

The bad: James Hardie

An acquisition is meant to be good news, right? Tell that to the directors of James Hardie.

They’ve been dealing with shareholder fallout over the $14 billion acquisition of US outdoor decking firm Azek since March. And now there’s more bad news.

Documents quietly filed with the SEC reveal a blowout in financing costs tied to the acquisition. The merger is now expected to cost US$300.6 million (A$467 million) in interest expenses alone — well above the earlier estimate of US$270.4 million .

The structure of the deal — involving more than $4 billion in new debt — has spooked shareholders, many of whom were already furious the company secured a waiver from ASX rules to push it through without a shareholder vote. Both James Hardie and Azek shares have slumped since the announcement .

Macquarie analysts now warn of execution risk, pointing to a complex supply chain and overlapping product ranges that may dilute value rather than add to it.

The (potentially) ugly: REA

If there’s one thing the market hates more than uncertainty, it’s news that regulators are sniffing around your business for potential bad behaviour.

The Australian Financial Review reports this morning that REA Group (ASX:REA), the Murdoch-controlled operator of realestate.com.au, is now under the close eye of the Australian Competition and Consumer Commission (ACCC). The competition regulator has reportedly issued a "please explain" request to the company.

It's all over reported price hikes for agents using the REA platform to list around the country. Agents are reporting that while regional listing fee increases are moderate - around 10-15% - some inner-city location fees have jumped by almost 80%.

The backlash isn’t just anecdotal. The ACCC notice reportedly issued to REA comes after agents have to the regulator accusing REA of market dominance and anti-competitive behaviour.