Ex-Orica CEO admits he can be ‘aggressive’

Original article by Tim Binsted
The Australian Financial Review – Page: 19 & 24 : 19-Mar-15

Shares in explosives group Orica closed 5.3 per cent lower at $A18.20 on 18 March 2015, in response to the imminent departure of CEO Ian Smith. He will remain in the role until Orica concludes an international search for his successor. Smith concedes that his management style had sometimes caused conflict with other Orica executive, but stresses that he had been working hard to change for the better. Chairman Russell Caplan says the group will continue to pursue its current strategy

CORPORATES
ORICA LIMITED – ASX ORI, THE BLACKSTONE GROUP LP, BHP BILLITON LIMITED – ASX BHP

Sirtex sheds $1b after cancer therapy trial disappoints

Original article by Jessica Gardner
The Australian Financial Review – Page: 11 & 17 : 18-Mar-15

Sirtex Medical’s shares closed 55 per cent lower at $A17.53 on 17 March 2015, after the group released the results of a seven-year clinical trial of its SIR-Spheres treatment for liver cancer. The trial found that the treatment does not offer much improvement compared with traditional treatments such as chemotherapy. However, Sirtex intends to make more extensive data on the clinical trial available in May

CORPORATES
SIRTEX MEDICAL LIMITED – ASX SRX, AMERICAN SOCIETY OF CLINICAL ONCOLOGY, MESOBLAST LIMITED – ASX MSB, CSL LIMITED – ASX CSL, ONCOSIL MEDICAL LIMITED – ASX OSL, MORGANS FINANCIAL LIMITED, BLOOMFIELD COLLIERIES, UBS HOLDINGS PTY LTD, WILSON HTM INVESTMENT GROUP LIMITED – ASX WIG, AUSTRALIAN ETHICAL INVESTMENT LIMITED – ASX AEF

CSL could be the next to reach the dizzy heights of $100 a share

Original article by Misa Han
The Australian Financial Review – Page: 22 : 6-Mar-15

Shares in CSL are trading at $A92.18, and there is speculation that the stock will breach the $A100 level. Goldman Sachs is among the CSL bulls, with a share price target of $A107, although the average 12-month share price target of analysts polled by Bloomberg is just $A90.23. CSL shares rose above $A100 in September 2007, although the group then opted for a stock split. Wilson HTM Investment Group says it could do so again if the stock reaches $A100

CORPORATES
CSL LIMITED – ASX CSL, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, BLOOMBERG LP, WILSON HTM INVESTMENT GROUP LIMITED – ASX WIG, RIO TINTO LIMITED – ASX RIO, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, DEUTSCHE BANK AG, SONIC HEALTHCARE LIMITED – ASX SHL, RESMED INCORPORATED – ASX RMD, HEALTHSCOPE LIMITED – ASX HSO, ANSELL LIMITED – ASX ANN, NIB HOLDINGS LIMITED – ASX NHF, RAMSAY HEALTH CARE LIMITED – ASX RHC, COCHLEAR LIMITED – ASX COH, MEDIBANK PRIVATE LIMITED – ASX MPL, STANDARD AND POOR’S ASX 200 INDEX

Orica launches $400m share buyback

Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 3-Mar-15

Australian-listed Orica has revealed plans for an on-market share buyback from mid-March 2016. The explosives group intends to repurchase up to $A400m worth of shares over the next 12 months, following the sale of its chemicals division to Blackstone for $A750m. The private equity firm has announced that the business will be known as Ixom. It boasts EBIT of around $A110m and revenue of $A1.2bn

CORPORATES
ORICA LIMITED – ASX ORI, THE BLACKSTONE GROUP LP, IXOM, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, LAZARD PTY LTD, FONTERRA CO-OPERATIVE GROUP LIMITED, NUFARM LIMITED – ASX NUF, CALTEX AUSTRALIA LIMITED – ASX CTX, SYDNEY WATER CORPORATION, BLUESCOPE STEEL LIMITED – ASX BSL

Apple’s pick of the crop as reality bites for other heroes

Original article by Philip Baker
The Australian Financial Review – Page: 30 : 12-Feb-15

The market capitalisation of Apple rose to $US711bn on 11 February 2015, and the IT giant may be on track to become the first company to achieve a market value of $US1trn. Apple shares have risen by more than 50,600 per cent since its IPO in 1980. Meanwhile, shares in Australian-listed Commonwealth Bank and CSL retreated on 11 February, although both remain close to record highs and are candidates to reach $A100 per share

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CSL LIMITED – ASX CSL, APPLE INCORPORATED, EXXONMOBIL CORPORATION, GOOGLE INCORPORATED, MICROSOFT CORPORATION, WESTPAC BANKING CORPORATION – ASX WBC, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

Gloomy growth forecast bloodies bullish CSL investors

Original article by Jessica Gardner
The Australian Financial Review – Page: 21 & 26 : 12-Feb-15

Australian-listed CSL has posted a 2014-15 interim net profit of $US692.2m, which is 7.2 per cent higher than previously. Revenue for the half-year was $A2.8bn, an increase of 5.6 per cent. CSL has advised that its full-year profit will be below previous guidance, although it is still on track to deliver a double-digit increase in earning. Shareholders will receive a half-year dividend of $US0.58 per share

CORPORATES
CSL LIMITED – ASX CSL, UBS HOLDINGS PTY LTD, PHILO CAPITAL ADVISERS PTY LTD, UNITED STATES. FOOD AND DRUG ADMINISTRATION, AURORA FUNDS MANAGEMENT LIMITED, STANDARD AND POOR’S ASX 200 INDEX

Skin cancer drug developer plans to list

Original article by Sally Rose
The Australian Financial Review – Page: 19 : 29-Sep-14

Melbourne-based Ascend Biopharmaceuticals will offer its shares at $A0.35 in an IPO that aims to raise between $A9m and $A11m. Proceeds of the float will be used to finance clinical trials of drugs that are intended to treat skin cancer and breast cancer. Ascend shares are slated to list on the Australian sharemarket on 14 November 2014

CORPORATES
ASCEND BIOPHARMACEUTICALS LIMITED, ONYVAX, ALCHEMIA LIMITED – ASX ACL, AMRAD CORP LIMITED, F HOFFMAN-LA ROCHE LIMITED, F HOFFMAN-LA ROCHE AG, IMMATICS, LODGE CORPORATE PTY LTD, TRANSGENE