Glenn Dyer, Author at ShareCafe

Onwards and upwards for global markets as the Trump rally continued.

Figures out today will likely show Australia’s economy grew by between 0.7% and 1% in the 4th quarter of 2016, based on data released yesterday and Monday on corporate profits, stocks, trade, wages and salaries and government finances.

Harvey Norman Rides House Prices Higher

Gerry Harvey’s Harvey Norman (HVN) group “punished’ investors and analysts yesterday by not holding a results briefing because he is upset with the increasing scrutiny of the company and its accounting.

Black Mark For Spotless Group

Spotless Ltd (SPO) is now another IPO flop from private equity to go with the likes of Myer and Dick Smith.

Specialty Fashion Takeover In Doubt

Specialty Fashion (SFH) shares fell 6% at one stage yesterday yesterday in spite of a solid rebound in profit because doubt has emerged over the $135 million takeover offer from a company associated with the Qatari Royal family.

QBE Joins Buyback Club

Insurance giant QBE has reported a 5% in net profit in the year to December 31 to a five year high, an 8% hike in annual dividend and announced a $1 billion share buyback that might take a bit of time to eventuate.

Adairs Shares Slump As Sales Slip

No wonder the manchester and homewares retailer Adairs’ (ADH) first half results yesterday were treated badly by investors after the company also downgraded its full year outlook and guidance.

Slater & Gordon At The Mercy Of Lenders

Stone motherless broke I believe is the way you describe Slater and Gordon (SGH), the listed legal group. B.R.O.K.E. and it will take a heroic act of generosity from the banks to keep it alive.

Resources Rally Sees Company Profits Surge

Suddenly the prospects for solid growth in December quarter GDP is looking better, with only today’s current account and government finance data to cloud the outcome after the sharpest rise in corporate profits in more than 16 years was revealed yesterday.

Reporting Season To Wind Down

The Australian December half profit reporting season wraps up today and tomorrow with 15 major companies due to report, along with a pack of small miners and industrials, and loss-makers like Slater and Gordon and small retailers, Temple & Webster and Surfstitch.

Miners Drag As ASX Sheds 1.2%

The local market will be heading for a small fall today after mixed trading Friday around the world for shares and commodities, and some nerves ahead of an important GDP report here on Wednesday and President Trump’s first State of the union speech Wednesday morning, Australian time.

Inside The Berkshire Results

As dramatic as the outperformance of Berkshire Hathaway’s investment portfolio was in 2016 (up 23%), and book value of the company rising 11%, the actual operating performance of the Buffett empire was a lot like the US economy in the same year – patchy in places and nothing really to write home about.

Oil Softer As US Rig Count Continues Rise

Commodity prices lost some of their bounce towards the end of last week

Diary: Local GDP, 2017 Fedspeak

We get detailed 4th quarter GDP figures for a few countries this week, with Australia’s to dominate in Wednesday’s national accounts for the three months to December.

Buffett Letter Backs Index Investing

As he tipped a few days ago, Warren Buffett has used his latest annual letter to Berkshire Hathaway shareholders to get stuck into active stock pickers and high cost investment managers and advisers, while extolling once again the virtues of passive or index investing.

Penalty Rates Cut Both Ways

Business investment continues to slide, the outlook for 2017-18 is weak, wages growth continues to stall or fall to new record lows, housing is OK, but cooling, retail sales growth is patchy and now hundreds of thousands of Australians who work on Sundays will have their take-home pay slashed after a landmark ruling by Fair Work Australia.

International Clouds Qantas Result

Investors liked the interim figures from Qantas (QAN) yesterday, sending the shares up more than 5% a day after they rose 2% ahead of the release on Wednesday.

Headwinds Hit Flight Centre

Qantas (QAN) certainly felt it (see separate story), but compared to the damage done to Flight Centre (FLT), it was only a glancing blow. Flight Centre, the country’s biggest travel agency group took a head-on whack from the global air fare war and the weak local travel market in the six months to December.

Ramsay Boss Surprises With Retirement

Ramsay Health Care (RHC) shares fell more than 9% yesterday in early trading after the company surprised the market with the news that CEO, Chris Rex plans to retire this year after nine years in the top job.

‘Unprecedented’ Low Listings Hit McGrath

It wasn’t the biggest result, nor the worst, but it did contain a warning for many other companies in and around the property and home lending businesses.

Bumpy Week Adds Intrigue To Buffett’s Dispatch

It’s not been a great week for Warren Buffett as the investment world awaits his annual shareholder letter this weekend.

Fortescue Meets Raised Expectations

As expected Fortescue Mining (FMG) lifted interim dividend thanks to a quadrupling of earnings from the first half of 2015-16 – but local investors were not that fussed yesterday.

Fletcher Building Half-Year Disappoints

A big thumbs down from Australian investors to the half year result from Fletcher Building (FBU), Australasia’s biggest construction group.

Woodside Awaits Energy Rebound

The rebound in oil – and gas – prices saw a apparent sharp surge Woodside Energy’s (WPL) earnings for the year to December, 2016 as it looks to higher output in the year ahead to maintain the growth momentum.

Fairfax Investors Back Domain Spin-Off

Shareholders ignored Fairfax Media’s (FXJ) weakish interim results and focused on the confirmation of the Domain property website business spin off. Up went the shares after trading was halted on Tuesday and they ended the day up more than 8% at 94 cents.

Buffett Deal Delivers For IAG

Thanks to its cosy reinsurance deal with Warren Buffet’s Berkshire Hathaway reinsurance arm, Insurance Australia Group (IAG) is now more like a utility rather than a general insurer with a more volatile claims and earnings pattern thanks to global warming, climate change and the rise of extreme weather events.

Woolies Sales Growth Outpaces Coles

Has the love affair with Woolworths (WOW) and investors been rekindled after the unfortunate dalliance with hardware? Yesterday’s market reaction to the December half year result suggests investors are prepared to overlook a few short term blemishes at the country’s biggest retailer.

Dieting Coke Sweetens Investors

Excuse me for being a little cynical, but the full year result from Coca-Cola Amatil (CCL) has done just that. Trading revenue (that is from selling its products) rose a mere 1.1% or a mere $57 million over the year (or one million bucks extra a week).

Blackmores Chinese Medicine

The virus that is China’s fickle demand for products such as coal, iron ore milk, baby milk, foods, vitamins and other so-called struck Blackmores (BKL) yesterday, sending the shares down more than 10% at the close.

Suncorp Eyes Tower Takeover

Suncorp (SUN) is expected to shortly reveal a rival offer for troubled NZ insurer, Tower (TWR) with a value of more than $NZ220 milion.

BHP Boosts Payout On Commodities Surge

What a difference a year makes.

Caltex Cuts Dividend As Deals Weigh

Petrol refiner and retailer, Caltex Australia (CTX) has gone all conservative as it faces a greater call on hits financial strength to boost expansion plans after reporting what was a solid profit for 2016.

OSH, ACX, MCP, GXL, MND Results Wrap

PNG-focused Oil Search (OSH) has chopped its final dividend to conserve cash while planning to move back into an expansion phase this year with a boost to exploration and development spending.

Fairfax Readies Domain Demerger