SHARE PRICES – AUSTRALIA

David Jones not looking at riding to Myer’s rescue

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 19 : 23-Feb-18

Department store chain Myer canvassed rival David Jones about what would have been a $A3 billion merger in late 2013, but the potential deal never got off the ground. Myer shares fell a record low of less than $A0.50 on 22 February, amid growing fears about its financial health. Ian Moir, the CEO of David Jones’ parent Woolworths Holdings, said he has no interest in making a bid for Myer. David Jones’ operating profit fell by 29.4 per cent in the December half, and Moir said his focus is on improving its performance.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, WOOLWORTHS HOLDINGS LIMITED

Melbourne beer hops into Chinese market

roymorgansocial Leave a comment

Original article by Claire Heaney
Herald Sun – Page: 35 : 28-Nov-17

Shares in beer maker Broo rose 30.5 per cent on 27 November after it released details of a distribution agreement with Beijing Jihua Information Consultant. The distribution deal relates to Broo’s Premium Lager, will run for seven years, and is of exclusive nature. Broo stated it estimated the deal will result in "distribution revenue" of about $A120 million over its seven years. Broo is in the process of developing what it claims will be "the world’s greatest brewery" in the Victorian city of Ballarat.

CORPORATES
BROO LIMITED – ASX BEE, BEIJING JIHUA INFORMATION CONSULTANT, HENAN LIQUOR, ASX LIMITED – ASX ASX, MILDURA BREWERY

Pilbara minnows tank on Novo no-go

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 28 : 28-Nov-17

Shares in companies targeting the Pilbara region of Western Australia for gold performed badly on 27 November. This followed an announcement by Canadian-based resources firm Novo Resources that the results of attempts to test conglomerate deposits at its Purdy’s Well tenement with a specialist drill rig had been "disappointing". Shares in its joint-venture partner Artemis Resources fell by 19.7 per cent, while Impact Minerals, De Grey Mining, Kairos Minerals and Marindi Metals all dropped by at least 20 per cent.

CORPORATES
NOVO RESOURCES CORPORATION, ARTEMIS RESOURCES LIMITED – ASX ARV, IMPACT MINERALS LIMITED – ASX IPT, DE GREY MINING LIMITED – ASX DEG, KAIROS MINERALS LIMITED – ASX KAI, MARINDI METALS LIMITED -ASX MZN

Foreign regulators focus on CBA

roymorgansocial Leave a comment

Original article by Michael Roddan
The Australian – Page: 17 & 22 : 30-Aug-17

The Australian Prudential Regulation Authority’s inquiry into the Commonwealth Bank of Australia continues to weigh on the banking sector. There is concern that CBA may come under scrutiny by APRA’s overseas counterparts in the wake of its money-laundering scandal. Credit Suisse has reduced its share price target for CBA by 10 per cent and warned of a governance crisis at the bank. Brian Johnson of CLSA notes that CBA could potentially incur much harsher penalties in offshore jurisdictions for breaching money laundering laws than in Australia.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, CREDIT SUISSE (AUSTRALIA) LIMITED, CLSA AUSTRALIA PTY LTD, ARGO INVESTMENTS LIMITED – ASX ARG, COMMINSURE, STORM FINANCIAL LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, FEDERAL COURT OF AUSTRALIA, HONG KONG (CHINA). MONETARY AUTHORITY, SINGAPORE. MONETARY AUTHORITY

Despite the gloom, this is the best reporting season in years

roymorgansocial Leave a comment

Original article by Patrick Commins
The Australian Financial Review – Page: 11 & 26 : 29-Aug-17

Financial market analysts argue that negative perceptions of the August 2017 reporting season are not justified. Jason Steed of JP Morgan notes that 123 stocks in the S&P/ASX 200 Index have risen so far in August, while he adds that investors’ perceptions of the reporting season are often influenced by a handful of stocks that post large declines in the wake of their earnings results. Hasan Tevfik of Credit Suisse says the capital expenditure intentions of ASX 200 companies also demonstrates the strength of the reporting season.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, JP MORGAN AUSTRALIA LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, BLUESCOPE STEEL LIMITED – ASX BSL, HEALTHSCOPE LIMITED – ASX HSO, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, QBE INSURANCE GROUP LIMITED – ASX QBE, SUNCORP GROUP LIMITED – ASX SUN, TELSTRA CORPORATION LIMITED – ASX TLS, FORTESCUE METALS GROUP LIMITED – ASX FMG, WOODSIDE PETROLEUM LIMITED – ASX WPL

Wild ride for majors as profit season unfolds

roymorgansocial Leave a comment

Original article by David Rogers
The Australian – Page: 27 : 24-Aug-17

The August 2017 reporting season has prompted large movements in the shares of some blue-chip stocks. Data from Bloomberg shows that 30 companies in the benchmark S&P/200 Index have experienced share price movements of at least five per cent on the day their latest financial results were released. AMP Capital’s Shane Oliver notes that a similar number of stocks have outperformed and underperformed the market, although investors have tended to react more savagely than usual to stocks that failed to meet earnings expectations.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, AMP CAPITAL INVESTORS LIMITED, BLOOMBERG LP, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, TELSTRA CORPORATION LIMITED – ASX TLS, HEALTHSCOPE LIMITED – ASX HSO, ACONEX LIMITED – ASX ACX, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, SIRTEX MEDICAL LIMITED – ASX SRX, WOOLWORTHS LIMITED – ASX WOW, MONADELPHOUS GROUP LIMITED – ASX MND, THE A2 MILK COMPANY LIMITED – ASX A2M, VIRTUS HEALTH LIMITED – ASX VRT, THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, McMILLAN SHAKESPEARE LIMITED – ASX MMS, AVEO GROUP – ASX AOG, BEACH POINT CAPITAL MANAGEMENT LP, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG

Lacklustre earnings after alarm bells in July

roymorgansocial Leave a comment

Original article by David Rogers
The Australian – Page: 27 : 11-Aug-17

The Australian sharemarket has not risen significantly so far in August 2017, despite some good results during the reporting season. Carsales.com and Orora are among the stocks to have rallied in the wake of positive earnings reports, while the Commonwealth Bank, AGL and AMP have been sold down. Karen Jorritsma of Citigroup notes that capital management has been a major influence on share price movements during the current reporting season.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CARSALES.COM LIMITED – ASX CAR, ORORA LIMITED – ASX ORA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AGL ENERGY LIMITED – ASX AGL, AMP LIMITED – ASX AMP, JAMES HARDIE INDUSTRIES PLC – ASX JHX, SKYCITY ENTERTAINMENT GROUP LIMITED – ASX SKC, TRANSURBAN GROUP LIMITED – ASX TCL, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, MORGANS FINANCIAL LIMITED, PACIFIC INVESTMENT MANAGEMENT COMPANY LLC

Media companies soar ahead of vote

roymorgansocial Leave a comment

Original article by Lucy Battersby
The Age – Page: 25 : 8-Aug-17

The Australian Government’s cross-media ownership reform bill is slated to be debated in the Senate on 9 August. Shares in some media companies have rallied in the lead-up to the resumption of Parliament. Prime Media Group’s shares have gained 16.5 per cent in the last two weeks, amid speculation that the regional TV broadcaster would become a takeover target if media laws are relaxed. Shares in Nine Entertainment Company, Southern Cross Media Group Fairfax Media have also risen in the last week.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, STAN ENTERTAINMENT PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, MORNINGSTAR PTY LTD, TRIPLE M CORPORATION PTY LTD, HIT NETWORK, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Bankers ‘all smiles’ as capital angst ends

roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 22 : 21-Jul-17

Macquarie Wealth Management says the nation’s four major banks should have no difficulty meeting the Australian Prudential Regulation Authority’s revised capital targets, given that their capital increased by between 30 and 50 basis points during the first half of 2016-17. The new minimum requirements for common equity tier-one capital were less onerous than had been forecast, which prompted renewed investor support for bank stocks on 20 July.

CORPORATES
MACQUARIE WEALTH MANAGEMENT, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, UBS HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Domino’s no longer flavour of the month

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 19 & 31 : 23-Jun-17

Craig Woolford of Citigroup says Domino’s will need to take better care of its franchisees if it is continue to maintain store growth. He notes that the typical Australia/New Zealand Domino’s store has seen its income grow by just 1.2 per cent over the last 12 years, compared with 9.5 per cent for the company as a whole. Woolford rates the stock a "sell". Domino’s shares fell by four per cent on 22 June, bringing to its decline since the start of 2017 to almost 20 per cent.

CORPORATES
DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, CITIGROUP PTY LTD, DEUTSCHE BANK AG, JP MORGAN AUSTRALIA LIMITED, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, ARISTOCRAT LEISURE LIMITED – ASX ALL, TREASURY WINE ESTATES LIMITED – ASX TWE, CSL LIMITED – ASX CSL, COCHLEAR LIMITED – ASX COH, ARMYTAGE PRIVATE LIMITED