Kogan crashes, AMP’s demerger plans, Telstra strengthens 5G network

At lunch on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to have a subdued finish to the week. The benchmark index is currently down 0.1% to 7,046 points.

Here’s what is happening on the market today:

Kogan update disappoints

The Kogan.com Ltd (ASX: KGN) share price has been sold off today after the release of a disappointing third quarter update. Although the ecommerce company reported a 47% increase in gross sales and a 54% jump in gross profit, its operating earnings actually declined by 24%. The damage was done primarily in the core Kogan business, which reported a 42% decline in adjusted operating…