Aurizon Flags New Earnings Hit
Rail operator Aurizon says it will take another huge write down – the 4th in as many years with directors yesterday revealing a $321 million hit from write-downs and other cost cuts and charges.
Read MoreRail operator Aurizon says it will take another huge write down – the 4th in as many years with directors yesterday revealing a $321 million hit from write-downs and other cost cuts and charges.
Read MoreShares in private education provider Navitas were sold off yesterday after it revealed an 8% drop in half-year revenue and earnings due to campus closures and changes to government regulations around sector funding.
Read MoreShares in Aconex (ACX), the construction software company were hammered lower yesterday after it warned that full year profit would come in up to 35% under analyst estimates.
Read MoreOz Minerals (OZL) says it plans to increase its focus on processing copper ore versus gold in the years ahead, betting on the continuation of better prices for an industrial metal than gold which seemed to be the earlier focus.
Read MoreServcorp (SRV) shares were pounded yesterday after it downgraded its pre-tax profit guidance from ‘at least $56 million’ for fiscal 2017 to circa $47 million. The shares closed more than 19% lower at $6.05 as it joined the likes of Aconex in copping a pasting after a downgrade.
Read MoreThe economy is in a much better position than may people understand – their thinking is still conditioned by the weak data from the third quarter of last year when GDP fell 0.5% and continuing sub par jobs figures.
Read MoreOil markets mostly ignored the glum forecast from BP that the world is facing a long-term oil glut that won’t disappear for 50 years. Now that is a forecast and as we have seen in the past year, forecasts and commodities do not always make an accurate fit.
Read MoreReuters GFMS sees gold prices averaging at $US1,259 an ounce in 2017, around $US60 an ounce above the close on Friday in New York of just over $US1,193 an ounce.
Read MoreA weak start today for the local markets after the soft finish on Wall Street early Saturday.
Read MoreThe US Federal Reserve’s first meeting of the year – its decision and the contents of its post meeting statement – will dominate markets in the coming week, overshadowing a meeting at the Bank of Japan, the US 4th quarter earnings season, the January jobs report, as well as the usual start of month reports on the health of manufacturing, especially from China.
Read MoreThe Australian December half profit reporting season gets under way with a handful of companies due to report this week.
Read MoreOil Search (OSH) narrowly beat its full-year production guidance, thanks to a solid performance in the December quarter and the company now expects to output to steady in 2017.
Read MoreBlueScope (BSL) has again upgraded its underlying profit forecast – this time by almost 18% for the December 31 first half as buoyant conditions in the US and improvements in the Australian steel business continue to flow through.
Read MoreRio Tinto (RIO) last night revealed that it has sold its remaining coal interests in NSW to the Chinese-controlled company Yancoal.
Read MoreResmed (RMD) shares jumped more than 9% yesterday after the medical device maker lifted second-quarter revenue 17% to $US530 million, helped by income from the Brightree business it acquired in 2016. Quarterly dividend of 33 US cents a share, was up 10% from 30 US cents.
Read MoreSpanish-controlled CIMIC (CIM) (formerly Leighton Holdings) is continuing its takeover spending spree with the construction group making an unconditional takeover bid for mining services company Macmahon Holdings (MAH).
Read MoreBHP Billiton’s (BHP) production of iron ore and metallurgical coal for the first half of the 2016-17 financial year is up, but volumes dropped in its petroleum, copper and thermal coal businesses.
Read MoreNothing for markets to worry about in the Consumer Price Index for the December quarter.
Read MoreManagement of Australian Foundation (AFI), Australia’s biggest listed investment company (LIC), reckon the market is currently fully priced and can’t see any value and will wait for a sell off before trying to find value.
Read MoreSuncorp (SUN) shares fell more than 3% yesterday after it revealed another tough half year from natural disasters.
Read MoreVillage Roadshow (VRL) shares were sold off yesterday when it joined a rising number of companies revealing disruptions for first half or full year earnings.
Read MoreShares in Brambles (BXB) took a hit yesterday after the company revealed a surprise downgrade to full year earnings after a weak six months to December 31.
Read MoreShares in one of the country’s largest real estate agents, McGrath (MEA), dived yesterday after it warned of a weak June half year.
Read MoreAustralia continues to reawaken after the Christmas New Year break and top of the list this week will be one of the top tier economic reports – the Consumer Price Inflation data for the December quarter and 2016 as a whole.
Read MoreOil futures climbed on Friday and for the week, boosted by signs of tighter supply in the wake of the move by major OPEC oil producers to cut output from the start of this month.
Read MoreWarren Buffett’s Berkshire has done its second big reinsurance deal with a major US underwriter this month with an arrangement similar in nature to the 2015 agreement with Insurance Australia Group.
Read MoreMarkets are now, like the various world economies, in the Trump era and we can expect rising volatility with the new President already issuing a number of edicts making changes to Obama policies, and promising more this week.
Read MoreContrary to all the experts in Australia, the US, Europe and elsewhere, the Chinese economy did not collapse in 2016 – yes the 6.7% growth rate was suspicious, but the bottom line is that the pace of economic activity was stronger at year’s end than at the start.
Read More2017 could be a rough year for shareholders in Woodside Petroleum (WPL) – not from the continuing volatility in world oil prices, but from a year of sliding production before an upturn arrives in 2018 to halt the rot.
Read MoreNearly a year on from its spin off from the National Australia Bank (NAB), Clydesdale and Yorkshire Banking Group (CYB) has put more flesh on the restructuring plan first announced in late 2016. In fact the bank is using an axe and not a scalpel to revamp itself judging by the announcement yesterday.
Read MoreJudging by Netflix’s December quarterly results there will be no let up in pressure on established broadcast media at home and around the world anytime soon. The shares surged to new all time highs overnight above $US144 on the news that the company had a record quarter in the three months to December 31.
Read MoreBega Cheese (BGA) will probably have to ask shareholders for help to finance the $460 million purchase of Vegemite and other brands from US group, Mondelez.
Read MoreChina reveals its 2016 growth, production and investment data tomorrow, but figures out yesterday confirm that the housing boom is still happening, but at a slower pace.
Read MoreSo much for Donald Trump claiming credit for the rebound on Wall Street, jobs and the improved tone to the US economy generally since his election in early November.
Read MoreWesfarmers’ (WES) coal mining business is looking better (and perhaps more attractive to possible buyers) thanks to an improvement in output, sales and prices.
Read MoreSo much for the Western Australian government’s approval of a new uranium mine for Canadian miner, Cameco.
Read MoreShares in gold producer St Barbara (SBM) jumped 6.3% higher to $2.35 after the company released its quarterly production update.
Read MoreUS gold futures jumped above $US1,200 an ounce overnight and are now at highs not seen since last November and the early days of the post-Trump election boomlet.
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