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Glenn Dyer
Wall St Unmoved On Trump Tax Plan
Added On - 4/27/2017 8:04:44 AM
For a claimed once in a lifetime event, the Trump tax plan fell on Wall Street like a damp squib - the Dow rising 30 or so points at best - a fraction of the previous day's 200 plus point surge in anticipation of the announcement.
Macquarie: Sell Spotless 'Into The Bid'
Added On - 4/27/2017 8:00:18 AM
All over bar the shouting at Spotless which is due to release its target statement later today, with hopefully a set of profit and revenue forecasts for this year and next.
China Lifts a2 Milk Outlook
Added On - 4/27/2017 7:59:46 AM
a2 Milk shares jumped more than 7% in Australia and New Zealand yesterday after the dual-listed company lifted sales expectations for the second half of its 2016-17 on stronger demand from China.
Strikes, Weather Hit BHP In March Quarter
Added On - 4/27/2017 7:59:34 AM
As expected BHP Billiton has reported a 20% drop in copper production for the quarter and the nine months to the end of March and cut its full-year production guidance by around 18% due to industrial action at its Escondida mine in northern Chile.
Inflation Ticks Into The RBA's Target Band
Added On - 4/27/2017 7:59:15 AM
'Move along, nothing much of importance to see' in yesterday's March quarter Consumer Price Inflation data except that the annual rate of 2.1% is back at the bottom end of the Reserve Bank's headline range of 2% to 3% 'over time'.
Buffett Rescues Wells Fargo Board
Added On - 4/26/2017 8:10:07 AM
It looks like Warren Buffett has saved the board of embattled US banking giant, Wells Fargo from ignominy at a heated and noisy annual meeting overnight in Florida.
Coca-Cola Turnaround Stalls Again
Added On - 4/26/2017 8:09:56 AM
The sell off in Coca-Cola Amatil shares slowed on Monday after the 10% plus slump last Friday off the back of yet another profit downgrade. The shares fell 1.5% on Monday, closing at $9.465, taking the loss since Friday morning to 12% after it blamed weak trading at its Australian beverages business for the earnings downgrade.
Spotless Spurns Downer Bid
Added On - 4/26/2017 8:09:45 AM
Shock, horror, the board of Spotless Group has recommended investors knock back the $1.2 billion bid from Downer EDI labelling it as 'opportunistic, hostile, highly conditional' and unlikely to proceed.
Ten Wrestles With Uncertain Future
Added On - 4/26/2017 8:09:37 AM
Tomorrow is L for Loss day for the embattled Ten Network with the struggling third commercial TV network expected to reveal a weak revenue, loss and possible asset write down for the six months to February 28.
Village Shares Rollercoaster On Theme Park Woes
Added On - 4/26/2017 8:09:30 AM
Less than a week after unwinding its loss making adventures in Hollywood, Village Roadshow saw its shares drop to new four year lows on Monday after it warned that already weak visitor numbers to its theme parks, especially on the Gold Coast, had been further hit by Tropical Cyclone Debbie.
Gold Gains, Oil Leaks Losses
Added On - 4/24/2017 7:54:53 AM
Commodity prices will be impacted by the French Presidential election first round results today. Gold did well ahead of yesterday's poll, adding gains on Friday and pushing futures prices back into the black for the week.
ASX Slips 0.6% Over The Week
Added On - 4/24/2017 7:53:29 AM
Financial markets in Asia will be the first to react to the results of Sunday's first round of voting in the French Presidential poll. Because it was inconclusive, there will be a second run off in two weeks on Sunday May 7 between the two top finishers, Emmanuel Macron, an independent, and Marine Le Pen, the National Front.
Diary: US Debt Ceiling, French Polls, Local Inflation
Added On - 4/24/2017 7:52:05 AM
It's going to be a week - no two weeks that will be dominated by the results of yesterday's first round of the French presidential poll, the looming deadline to lift the US government debt ceiling, a possible tax package from president Trump, the high point of the current US quarterly earnings season.
US Earnings Hit Top Speed
Added On - 4/24/2017 7:50:57 AM
The second quarter US reporting season peaks this week with one of the largest number of S&P 500 companies releasing their results and by the close of business Friday we will have a very good idea how corporate America has performed.
Fireworks Loom Ahead Of Wells Fargo AGM
Added On - 4/24/2017 7:49:05 AM
Every now and then one pops up with a big issue, big names and hints of fireworks - or at worst, some rare dissent from big shareholders large and small. And so it will be early Wednesday with Wells Fargo holding its AGM in Florida, a long way from its main shareholder bases in California and in the Carolinas.
Mattel Out Of Fashion As Barbie Comeback Stalls
Added On - 4/21/2017 12:43:24 PM
Is Barbie's second coming over before it had begun?
Aust Pharma To Roll Out More Priceline Stores
Added On - 4/21/2017 8:15:37 AM
Australian Pharmaceutical Industries (API), which is one of the Sydney companies around Washington H Soul Pattinson, has completed what was an upbeat interim reporting season for the group.
Storms Savage Woodside Production
Added On - 4/21/2017 8:11:11 AM
Oil and gas giant Woodside Petroleum has reported a drop in first-quarter revenue, thanks to lower production caused by bad weather which also contributed to a build up in inventories as a result of the disruption to its LNG sales.
US Shale Surge Shakes Oil Price
Added On - 4/21/2017 8:10:45 AM
Global oil prices have dipped closer to $US50 a barrel as investors and many experts awake to the growing danger from the rebounding US shale sector.
Rio Quarterly Production Falls Short
Added On - 4/21/2017 8:10:35 AM
Rio Tinto has made a slow start to the year, with first-quarter shipments and production of iron ore and copper affected by bad weather in Western Australia, Chile and Indonesia.
Acquisition Pays Off For Iluka
Added On - 4/21/2017 8:10:25 AM
Shares in mineral sands producer Iluka Resources jumped ore than 11% yesterday after it reported sharp rises in output and revenue for the March quarter, thanks to the full inclusion of its recently completed takeover of Sierra Rutile.
Telcos Recover Following TPG Mobile Storm
Added On - 4/20/2017 8:15:33 AM
Some sense returned to the telco sector yesterday after the headless chicken sell down of stock in the wake of TPG's move before Easter to buy new spectrum and build the country's 4th mobile phone network at a total cost of close to $2 billion.
Brambles Rebounds After Solid Update
Added On - 4/20/2017 8:15:22 AM
In late January, Brambles shares fell by as much as 16% after it revealed a weak trading update and profit warning. That was a month before the actual half year result was released. The shares fell from $12.28 to $10.58 in a day.
Oil Search Maintains Production Targets
Added On - 4/20/2017 8:15:15 AM
Oil Search has reaffirmed its full-year production guidance despite a small dip in first quarter production.
KKR In Eleventh-Hour Tatts Bid
Added On - 4/20/2017 8:14:50 AM
Judging by the immediate market reaction yesterday, the renewed bid for Tatts from the KKR led group, Pacific Consortium will suffer the same fate as the first approach - it will be ignored.
Downer Shareholders Give Another Thumbs Down To Spotless Bid
Added On - 4/19/2017 8:07:29 AM
Whack, small shareholders in Downer EDI have comprehensively rejected the company's $1.3 billion bid for Spotless group by refusing to fund the retail component of the $1.1 billion fund raising.
South32 Scraps Plan to Buy Peabody Mine
Added On - 4/19/2017 8:00:49 AM
South32 revealed yesterday that it had decided to bail on its proposed acquisition of a coal mine near Wollongong, south of Sydney from Peabody Energy, rather than make meet concessions to domestic steelmakers suggested by the ACCC to allay competition concerns.
TPG 'Plunge' Misses The Bigger Picture
Added On - 4/19/2017 8:00:41 AM
The media has made a big song and dance about how TPG Telecom shares 'plunged' yesterday after the shares came out of a trading halt to allow it raise around $400 million to help finance its new $1.9 billion Australian mobile phone network and associated electronic spectrum.
Tabcorp Divests Pokies Business To Smooth Way For Merger
Added On - 4/19/2017 8:00:32 AM
Tabcorp has agreed a deal to offload its Queensland gaming machine monitoring business to smooth its $11 billion merger with Tatts.
'Seismic Event' Shakes Newcrest Guidance
Added On - 4/19/2017 8:00:21 AM
Newcrest has suspended operations at its huge Cadia mine in NSW after what the gold producer said was a 'seismic event' on Good Friday.
China's Commodities Appetite Continues In March
Added On - 4/18/2017 7:46:06 AM
Besides China's record oil imports in March, iron ore also stood out with the second highest figure on record announced last week - as global prices fell to their lowest level for more than five months.
Higher Capital Demands Loom For The Big Four
Added On - 4/18/2017 7:45:17 AM
The Reserve Bank has sent investors a powerful message that Australian banks will face further pressure on revenue, profits and dividends from higher capital needs in coming years to make them 'stronger for longer'.
Diary: US Earnings, RBA Minutes
Added On - 4/18/2017 7:44:59 AM
After China's March quarter GDP and production, investment and retail sales data yesterday, the coming week will be concentrating on the growing unease on Wall Street about the health of the US economy.
China GDP Beats, Q1 Rises 6.9%
Added On - 4/18/2017 7:44:40 AM
China's economy remains buoyant according to first quarter growth figures released yesterday, but there were still signs of a slowing in the pace of activity.
Iron Ore Falls Out Of Bed
Added On - 4/13/2017 11:05:22 AM
Investors woke up to the iron ore price plunge overnight, sending the prices of BHP and Rio Tinto shares sharply lower in London and New York.
Warren Turns His Back On Wells Fargo
Added On - 4/13/2017 11:04:19 AM
Warren Buffett has effectively turned his back on an investment in a bank in Wells Fargo that for years was one of his big four cornerstone holdings (IBM, Coca Cola and American Express are the three others).
Buffett To Sell Major US Bank Stake
Added On - 4/13/2017 8:05:56 AM
At last Warren Buffett has moved to make a serious statement on the fake accounts scandal at Wells Fargo, America's second biggest bank.
China Inflation Cools In March
Added On - 4/13/2017 8:05:07 AM
As expected Chinese cars sales slowed sharply, consumer costs picked up a bit and producer price inflation eased in March.
Ten Network Hits All-Time Low
Added On - 4/13/2017 8:01:13 AM
Ten shares fell to an all time low on the ASX yesterday of 54 cents (5.4 cents before last year's one for ten consolidation) after the company announced a date for the release of its long awaited first half results for the six months to February 28.
BHP Doubles Down On Restructure Rejection
Added On - 4/13/2017 8:00:36 AM
BHP Billiton has again dismissed a wide-ranging proposal by shareholder Elliott Advisors to overhaul its corporate strategy and sell off oil interests, saying the measures would not benefit the firm.
TPG Mobile Play Rocks Telstra
Added On - 4/13/2017 8:00:23 AM
TPG Telecom finally admitted to its long rumoured plan to build a mobile phone network, news that wiped billions of dollars off the value of rivals such as Telstra, Vocus and Macquarie Telecom.
US Earnings Back In Focus
Added On - 4/12/2017 8:15:25 AM
The US second quarter earnings season kicks off this week without its usual lead company in Alcoa, which is now two companies with different reporting dates and not as important an indicator for US and global manufacturing (and commodities).
Elliott Spits The Dummy At BHP
Added On - 4/12/2017 7:47:16 AM
Elliott Advisors is all upset that BHP Billiton rejected the plan to combine end the dual company structure, but keep the dual listings in London and Australia and to spin off and float the company's petroleum business on the New York Stock Exchange.
NAB Survey: Business Conditions Best Since GFC
Added On - 4/12/2017 7:47:08 AM
The Australian economy is travelling pretty well according to the widely regarded National Australia Bank monthly survey for March which showed a sharp improvement in business conditions to their highest level in eight years - in fact since the GFC.
Oroton CEO Walks Amid Sales Slide
Added On - 4/12/2017 7:46:55 AM
The retail malaise in some parts of the sector has claimed another CEO victim with OrotonGroup replacing its CEO of the past four years with its major shareholder as its interim chief executive after in the wake of the companyís disappointing half-year result.
Woolies Faces Class Action Over Profit Downgrade
Added On - 4/12/2017 7:46:47 AM
Woolworths shares hardly budged yesterday after a possible class action was announced against the retailing giant over alleged breaches of the Corporations Act following the shock 2015 profit downgrade.
Iron Ore Sinks Into Bear Market
Added On - 4/11/2017 8:50:12 AM
Iron ore prices have slipped into a bear market - will Australian investors notice as they punt on the latest cack-handed suggestion to BHP?
Wells Fargo Reports On Sales Scandal
Added On - 4/11/2017 8:45:27 AM
Wells Fargo, Warren Buffett's favourite bank has shown all banks the way to investigate themselves, sort of.
Takeovers Panel Greenlights Downer, Spotless Deal
Added On - 4/11/2017 8:44:21 AM
With the Takeovers Panel deciding not to look into Downer EDI's $1.3 billion bid to acquire cleaning and catering group Spotless Group, it's all over bar the shouting.
The Reject Shop Poleaxed
Added On - 4/11/2017 8:42:26 AM
Shares in The Reject Shop took another pounding from worried investors yesterday, taking its losses to more than 50% since Friday.
BHP Rebuffs Activist's Reform Plan
Added On - 4/11/2017 8:39:55 AM
BHP Billiton shares bolted higher yesterday after a hedge fund released a letter it had sent to the board urging the company to spin off its some of its petroleum business and list it on stockmarket.
Wells Fargo Shareholders Urged To Dump Board
Added On - 4/10/2017 6:20:58 AM
US bank Wells Fargo not only releases its March quarter results on Thursday, but it is also due to produce a report tonight our time on last year's scandal which saw the bank hit hard by senior executives forcing low level staffers to sign up millions of customers without their knowledge.
Diary: Fedspeak, Local Jobs, China Data
Added On - 4/10/2017 6:20:47 AM
A short week in some countries (Australia, NZ, much of Europe, parts of Asia and the UK and US and Canada because of the start of Easter), so a lot of data and reports will be compressed into four days instead of five.
Reject Shop Cut On Suprise Downgrade
Added On - 4/10/2017 6:20:36 AM
For the second time in two years, shares in discount retailer, The Reject Shop have been pounded after shocking the market with a surprise sales profit downgrade.
Gold, Oil 'Knee-Jerk' On Syria Strike
Added On - 4/10/2017 6:15:38 AM
On the face of it commodities should have ended last week with a bang - the weak US March jobs report, worries about President Trump and then the uncertainty in the wake of the surprise American attack on Syria were all factors that should have seen a weak dollar, weak equities and higher safe haven assets - and a dip in bond yields in Japan and the US.
Markets Shake Off Geopolitical Woes
Added On - 4/10/2017 6:15:21 AM
A flat finish to most global markets on Saturday morning after a week that was quite eventful at the end.
UBS Downgrades Gold Outlook For 2017
Added On - 4/7/2017 8:17:10 AM
Analysts at UBS have trimmed their 2017 for gold, despite futures prices having regained most of their losses since the election.
Coal Major Peabody Arises From Bankruptcy
Added On - 4/7/2017 8:15:51 AM
It must have been a case of deja vu all over again for Peabody Energy Corporation as it quietly exited bankruptcy this week and re-listed on the New York Stock Exchange.
Inside The Trade Data
Added On - 4/7/2017 8:10:40 AM
Do market economists really understand what is going on in the Australian economy? After all they are paid to do just that and yet time after time we see them focusing on the narrow picture rather than standing back to assess the wider story.
Former JB CEO Returns To Run The Good Guys
Added On - 4/7/2017 8:10:30 AM
JB Hi-Fi made sure a surprise change in management for the recently acquired Good Guys operation didn't hurt the share price.
Payless Provides Lesson On Retail Restructuring
Added On - 4/7/2017 8:10:22 AM
Most comment claims that Payless Shoes, the Australian budget footwear retailer, went belly up last December, was due entirely to the malaise in the local retail market. And while there is some merit in that explanation, what then do we make of the news this week that its US parent, Payless ShoeSource has just had a similar experience
Will APRA Crimp Bank Dividends?
Added On - 4/7/2017 8:10:14 AM
Bank investors have just been warned that their cherished dividend machines face further pressures from regulators which could curtail the ability of these giants to deliver steady dividend rises in coming years.
Sky, Vodafone To Push Ahead With NZ Merger
Added On - 4/6/2017 8:08:26 AM
There's word from across the Tasman that would be dance partners, Sky TV and Vodafone NZ are thinking of pushing ahead with their planned merger and ignoring February's thumbs down ruling from the country's competition regulator, the Commerce Commission.
Fairfax Targets More Cost Cuts
Added On - 4/6/2017 8:08:19 AM
The cost/falling revenues pressures are moving closer to crunching Fairfax Media's core newspaper business - the Sydney Morning Herald, the Melbourne Age and the Australian Financial Review.
Metcash Growth Stalls
Added On - 4/6/2017 8:08:00 AM
Metcash shares fell 4.9% yesterday (making it one of the biggest fallers on a generally positive day of trading) after media reports emerged of the retail/wholesaler have trouble driving sales growth.
IAG Confirms Debbie Damage Bill
Added On - 4/6/2017 8:07:53 AM
Insurance Australia Group says it's 2016-17 results will see a $170 million hit to pre-tax profit, thanks to the impact of Cyclone Debbie's winds, rain storms and extensive flooding in Queensland and Northern NSW.
BHP Declares Force Majeure On Coal Exports
Added On - 4/6/2017 8:07:44 AM
Coal prices might be rising sharply, boosting of the prices of some miners on the hope of a temporary boost from the shortage of high grade steel making and thermal coal from Central Queensland, but it seems the surge may be losing ist impact if the performance of Whitehaven Coal shares are any guide.
Tesla Overtakes Ford
Added On - 4/5/2017 8:24:50 AM
The value of electric car maker Tesla soared on a day when the wider market fell to where it became the second most valuable US car company.
US Leads Online AGM Push
Added On - 4/5/2017 8:23:53 AM
More and more American companies are dropping their annual meetings of shareholders and going for online broadcasts. The argument for the move is based on cost savings and increasing the potential audience - but that is something some companies are already doing by maintaining their meetings and broadcasting on line.
Wellard Delays Return To Profitability
Added On - 4/5/2017 8:22:57 AM
Shares in live animal trader Wellard Ltd were unchanged yesterday at 22 cents as investors continue to mull over the unexpected news that the company had pushed back its anticipated return to profitability, and admitted it may even not make money in the next financial year.
Cyclone Whips Up Coal Prices
Added On - 4/5/2017 8:18:51 AM
Shares in Whitehaven Coal retreated somewhat in late trading yesterday after they jumped sharply in the wake of a upswing in global spot coal prices because of the impact of flooding in central Queensland coal mines and restrictions on exports.
On Hold RBA Winks At APRA, ASIC
Added On - 4/5/2017 8:15:57 AM
The decision to leave interest rates on hold was easy for the Reserve Bank board yesterday - there is no reason for a cut and certainly no reason for an increase. The big discussion, as we pointed out on Monday, was the outlook for housing.
Lowe Lashes Out At Lax Lending
Added On - 4/5/2017 8:15:46 AM
In a speech in Melbourne last night, RBA Governor Philip Lowe expanded on his post-board meeting statement comments on housing lending - pointing the finger at some lenders for lax lending standards, blaming the current tax arrangements and urging governments to do something more constructive to boost the supply of housing and land.
Gold Survey Sees Longer Term Gains
Added On - 4/4/2017 8:05:00 AM
Gold prices won't be rising very much over the remainder of 2017 if the latest survey from Reuters GFMS is any guide - four dollars or so an ounce.
Funtastic Sets Delisting Vote Date
Added On - 4/4/2017 8:04:32 AM
Shareholders in struggling toy and confectionery wholesaler Funtastic will meet in early May to vote on delisting from the ASX.
Orion's Unhealthy Profit Warning
Added On - 4/4/2017 8:04:18 AM
Shares in Orion Health, one of New Zealandís largest software companies, lost more than 15% at one stage yesterday after the company issued a profit warning for the year to March 31.
Aurizon Counts Cyclone Debbie Cost
Added On - 4/4/2017 8:04:06 AM
Rail freight giant Aurizon has joined the growing list of companies and industries hit by Cyclone Debbie and the flooding that followed its near record rainfall last week.
ASX Marches Ahead As Nasdaq Stampedes
Added On - 4/3/2017 9:19:23 AM
A big quarter for stockmarkets with few losers. But for the month of March did provide a more sedate performance for some.
Funtastic Still Risks Collapse
Added On - 4/3/2017 9:19:03 AM
No wonder Funtastic is looking to delist from the ASX to save money and hopefully raise enough new money to continue in business.
Slater & Gordon Wins Small Reprieve From Bankers
Added On - 4/3/2017 9:18:53 AM
Slater & Gordon has been given another, small, $72 million bailout by its lenders to enable it to remain solvent while debt restructuring talks are concluded and some odds and sods are tied up.


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