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Glenn Dyer
Digital Growth Spins Aristocrat Higher
Added On - 5/25/2018 7:09:45 AM
Pokie machine and gaming group, Aristocrat Leisure has boosted interim dividend 35% to 19 cents has share from 14 cents a share a year ago after reporting a solid performance for the six months to March 31.
Shareholders Seal Westfield Takeover
Added On - 5/25/2018 7:09:27 AM
So it's good-bye to Westfield Corporation as an independent Australian-controlled company after its investors yesterday gave the green light to the $32 billion takeover by the Paris-based Unibail-Rodamco shopping mall, owner - Europe's largest.
Reliance Joins Reece In Big Plumbing Expansion
Added On - 5/25/2018 7:09:18 AM
Brisbane-based Reliance Worldwide Corp (RWC), best known for its Sharkbite plumbing fittings, is looking to increase its size by around half via the $1.2 billion acquisition of UK group John Guest Holdings, which is a rival maker of push to connect fittings for plumbing and other uses.
Varian Medical Won't Up Bid In Sirtex Battle
Added On - 5/24/2018 8:31:46 AM
Sirtex shares closed down nearly 3% yesterday after US cancer treatment developer Varian Medical said it will not increase its offer to buy local biotech Sirtex Medical, despite a higher Chinese offer.
Fonterra Lifts Milk Price But Lowers Dividends
Added On - 5/24/2018 8:27:29 AM
Mixed news from NZ dairy giant Fonterra yesterday with a high price forecast, but a warnings of slimmer dividends after a weaker than forecast third quarter trading performance.
Woodside Pumps Up Cost For Scarborough Gas
Added On - 5/24/2018 8:27:26 AM
Woodside has told an investor day presentation that it has increased the cost of its Scarborough development by $US1 billion after lifting the processing capacity at its Pluto gas facility.
Rio Confirms Talks To Sell Troubled Grasberg Mine
Added On - 5/24/2018 8:27:19 AM
A godsend for Rio Tinto as it looks ready to shed one of its most troublesome assets? Rio Tinto said yesterday it is in talks that could see it sell its stake in the huge Grasberg copper/gold mine in Indonesia of Freeport-McMoRan for $US3.5 billion (A$4.4 billion).
CBA Unloads China Life Insurance Stake
Added On - 5/24/2018 8:27:15 AM
The Commonwealth Bank has raised more cash to bolster its capital base after agreeing to sell its stake in Chinese life insurer BoComm Life for $668 million.
Santos Rejects Revised Takeover Offer
Added On - 5/23/2018 1:36:10 AM
Santos shares will fall heavily today when ASX trading resumes after the company rejected the $A14.5 billion final offer from would be suitor, Harbour Energy.
Investors Scrambled By TechnologyOne Results
Added On - 5/23/2018 1:21:24 AM
TechnologyOne shares fell more than 6% yesterday after the company reported a March 31 interim result that left investors a bit confused.
Asbestos Claims Catch Up With James Hardie
Added On - 5/23/2018 1:21:02 AM
James Hardie's net profit for the year to March 31 has fallen 47% to $US146.1 million ($A192.6 million), primarily driven by asbestos adjustments, acquisition costs and debt.
Healthscope Rebuffs Takeover Bids
Added On - 5/23/2018 1:20:51 AM
Healthscope has pulled up the drawbridge and told the raiders to go away via two statements issued yesterday.
BWX Soars As Bain Capital Backs Buyout
Added On - 5/23/2018 1:20:44 AM
No wonder shares in skin and hair care group BWX leapt more than 40% at one stage yesterday after receiving a stunning $800 million-plus buyout offer from two senior executives and US private equity group, Bain.
NAB Economists Push Out Timing Of Rate Hike
Added On - 5/22/2018 1:45:27 AM
The National Australia Bank has bowed to the reality of recent economic data on wages, jobs and inflation and pushed its forecast for the next interest rate rise out to 2019 from late this year.
AGL Rejects Alinta Tilt For Liddell Power Station
Added On - 5/22/2018 1:45:20 AM
AGL has rejected Chinese-owned Alinta's $250 million offer to buy the Liddell coal-fired power station in NSW and will proceed with its announced plan to shut down the station in 2022.
Harbour Energy Sweetens Santos Bid
Added On - 5/22/2018 1:45:09 AM
US group, Harbour Energy has bowed to the inevitable and lifted its proposed offer price for Santos which now values the Australian oil and gas group at $A14.4 billion compared to around $A13.7 billion last week when the final, binding offer was proposed.
'Constructive' Talks See US-China Abandon Trade War
Added On - 5/21/2018 2:49:42 AM
On the surface it seems China and the US have reached some sort of accommodation to try and take the sting out of their trade dispute, but according to the Financial Times and other reports there's no real agreement - just a series of agreements, with one major sticking point left unmentioned.
Retailers Set To Wind Up US Earnings
Added On - 5/21/2018 2:49:34 AM
Retailers will dominate America's first-quarter earnings season last leg this week, along with the odd food company and tech group.
Stronger US Bond Yields Crush Gold
Added On - 5/21/2018 2:43:48 AM
Gold finished a week that many investors won't quickly forget as they were reminded that they should watch movements in US bond yields more closely.
Brent Breaks $80 As Oil Run Rolls On
Added On - 5/21/2018 2:43:40 AM
Global oil prices recoiled from the $US80 a barrel level hit on Thursday, but still ended the week with a solid rise.
US Stocks Lose Steam As Treasury Yields Tick Higher
Added On - 5/21/2018 2:43:31 AM
Offshore markets will make a tentative start late today after Friday's less than inspiring end to the week.
Diary: China-US Trade, Fed Minutes, Brexit Talks
Added On - 5/21/2018 2:43:19 AM
China-US trade and interest rates will grab the headlines this week with the Fed also taking centre stage after the yield on the key 10-year bond hit a seven year high of more than 3.1% last week.
Rising Oil Price Clouds Santos Chase
Added On - 5/18/2018 2:59:41 AM
There's doubt that the now binding but still conditional $13.7 billion offer for Santos from US group, Harbour Energy, will succeed because the price hasn't been lifted to reflect the recent rise in world oil price to around $US75 a barrel.
Renovations Drive Dulux Profit Higher
Added On - 5/18/2018 2:57:48 AM
DuluxGroup has lifted interim dividend by a cent to 14 cents a share after lifting half year profit 9% to $79.2 million. But the market went right off the result as the day went on yesterday.
Unemployment Creeps Higher As Jobs Boom Fades
Added On - 5/18/2018 2:57:29 AM
The strong jobs boom in late 2017 continues to slow as Australia's unemployment rate rose to a 9-month high last month, despite an increase in the number of full-time roles.
ACCC Red Lights Transurban WestConnex Bid
Added On - 5/18/2018 2:57:16 AM
The ACCC reckons Transurban, the toll road giant may have just about reached the limit of its ability to invest in the sector in Australia after raising doubts yesterday about its plans to take an interest in the huge WestConnex project in Sydney.
Impairments Pressure Atlas Iron Deal
Added On - 5/18/2018 2:56:56 AM
The news didn't get any better yesterday for some small shareholders in Atlas Iron who are resisting the takeover offer from Mineral Resources.
Myer Bounces Despite Dismal Result
Added On - 5/17/2018 2:24:57 AM
Myer was whacked by the big autumnal dry that wrecked its winter sales hopes in the three months to the end of April. But investors didn't bother with the detail and hoisted the shares 16% higher to 43.5 cents.
a2 Milk Creamed As High Expectations Hurt
Added On - 5/17/2018 2:18:31 AM
a2 Milk Company share copped a hiding yesterday after the company provided what seemed to be a positive trading update for the nine months to the end of March.
BHP On Track For Shale Sale
Added On - 5/17/2018 2:18:18 AM
BHP reckons its still on track to get rid of its unwanted oil and gas onshore shale assets in the US by the end of 2018.
Wages Growth Still Stuck In The Mud
Added On - 5/17/2018 2:18:04 AM
The Federal Government's main 2018-19 budget underpinning of a solid rise in wages is looking much harder to achieve after the March quarter Wage Price Index slowed in the three months to be unchanged over the year at 2.1%.
Buffett Doubles Down On Israeli Drug Maker
Added On - 5/17/2018 2:17:53 AM
Warren Buffett's Berkshire Hathaway has more than doubled its investment in Israel-based generic drugmaker Teva Pharmaceutical Industries, and confirmed it has become Apple's second-largest shareholder.
Ruralco Bucks Big Dry As H1 Profit Lifts 29%
Added On - 5/16/2018 2:23:59 AM
Agriculture services provider Ruralco, which is part of the Soul Patts-Brickworks corporate group - lifted first-half profit 29% to $16.1 million in the six months to March 31, despite tough trading conditions in the live export business.
Bluescope Steel Ups Earnings Guidance
Added On - 5/16/2018 2:23:44 AM
BlueScope Steel shares had an up, down, flat sort of day yesterday after the company lifted its guidance for underlying earnings before interest and tax (EBIT) for the second (June 30) half helped by stronger margins at its plant in the United States.
Brokers Call Into Question Telstra Dividend
Added On - 5/16/2018 2:23:34 AM
The bears have their fangs well and truly into the Telstra share price. Telstra's share price has fallen another 6% yesterday (taking the fall on Monday and Tuesday to 11% and into correction territory) amid a flurry of warnings from broking analysts that the company's 22 cents a share dividend faces a second chop next year.
Automotive Holdings Hits The Skids
Added On - 5/16/2018 2:23:25 AM
Shares in listed car dealer and refrigerated transport operator, Automotive Holdings tumbled nearly 10% yesterday after the company revealed an earnings downgrade in a gloomy trading update.
Real Estate Drags Down China Data
Added On - 5/16/2018 2:23:15 AM
Steel production, along with iron ore imports are two closely watched statistics from China in Australia, and both were stronger than expected last month.
RBA: More Jobs Required Before Wages Rise
Added On - 5/16/2018 2:23:02 AM
Speaking to a finance conference in Sydney yesterday, RBA Deputy Governor, Guy Debelle said that recent work at the bank had found that more and more wage settlements were "bunching around 2% over the past five years or so."
Seven Group Rides Resources Rebound
Added On - 5/15/2018 1:18:08 AM
The rebound in the fortunes of Kerry Stokes was confirmed yesterday when his key company, Seven Group Holdings upgraded its earnings guidance, which in turn saw its share price surge to a record high.
"Challenging Conditions" Sink Telstra Shares To Six-Year Low
Added On - 5/15/2018 1:07:38 AM
A 5% fall - to $3 - wasn't unexpected as Telstra slipped out what amounts to a disguised earnings downgrade for the year to June 30, and an implicit warning of the tough times continuing into 2018-19 thanks to the gradual advance of the NBN.
Elders Returns To Dividends
Added On - 5/15/2018 1:07:27 AM
Unlike the latest result on Friday from GrainCorp and a big drop in earnings, there was no sign of the impact from growing dry across much of the eastern states in the half-year results from Elders yesterday.
Noni B Bags Speciality Fashion Brands
Added On - 5/15/2018 1:07:21 AM
Asset shuffling among the rats and mice of Australian rag trade retailing yesterday with troubled women's fashionwear group, Speciality Fashion selling a range of brands and their $600 million or more a year in sales to rival group, Noni B for just $31 million.
New Bidder As Healthscope Battle Heats Up
Added On - 5/15/2018 1:07:13 AM
There's a takeover battle for private hospital operator Healthscope which yesterday received its second takeover in a couple of weeks, this time from a Canadian investment group.
ASX Ends Higher For Sixth Week Straight
Added On - 5/14/2018 8:22:42 AM
A quiet start to the week is expected today on local markets after a less than vibrant end to the week globally on Friday night, our time.
Oil Leads Commodities Complex Higher
Added On - 5/14/2018 8:17:30 AM
On the whole it was a positive week for commodities with gold, oil, copper, silver and iron ore all enjoying gains.
Retail In Focus As US Earnings Wind Down
Added On - 5/14/2018 8:17:25 AM
The US earnings season continues to wind down this week, with around 10 S&P 500 companies expected to report results and most of those will be retailers, led by the giant Walmart.
Fitch Sounds New Warning On Banks
Added On - 5/14/2018 8:17:03 AM
Was the first half of the 2017-18 financial year as good as it gets for Australia's four major banks? Certainly, the usual post reporting season reports suggest so and leading credit rater, Fitch, thinks the big four are faced with constraints on earnings in the next year.
Diary: Oz Wages, RBA Minutes, Japanese GDP
Added On - 5/14/2018 8:16:43 AM
A big week for the 2018-19 budget strategy of the Federal Government with the Wage Price Index for the March quarter and the April jobs data to be released.
News Corp Distances Itself From Ailing Print
Added On - 5/11/2018 2:19:55 PM
News Corp is undergoing its most radical change since the split of June 2013 as digital subscriptions in newspaper and from the newly merged Foxtel/Fox Sports business becomes the most important revenue and profit driver, supported by the company's growing digital real estate operations in Australia and the US.
Cable Drives Fox As James Murdoch Eyes Exit
Added On - 5/11/2018 2:00:13 AM
A busy 12 hours for the Murdoch family's 21st Century Fox on Wednesday, even before the March quarter results release around 6am Sydney time yesterday, one of the Murdoch sons was said to be leaving the family fold, the company spent nearly a billion dollars on more TV stations to bolster its post split sports programming, and Fox News Channel, Star in India and other cable channels saved the empire from an embarrassing slide in profit in the three months to March 31.
Chinese Producer Inflation Picks Up
Added On - 5/11/2018 2:00:05 AM
No problems with Chinese inflation for April with producer price inflation rising for the first time in seven months and consumer price inflation about steady.
Apologies Not Enough For Angry AMP Shareholders
Added On - 5/11/2018 1:59:58 AM
Apologies just don't cut it anymore, judging by the outcome of the AMP board meeting yesterday. Investors agreed with that assessment and sent the shares down to their lowest level since January, 2012.
Xero Earnings Begin To Add Up
Added On - 5/11/2018 1:59:51 AM
Accounting software company, Xero, which shifted its primary market listing to Australia recent says it has made its first positive earnings before interest, tax, depreciation and amortisation (but a bottom line loss nevertheless).
RBNZ Echoes RBA Watch & Wait Stance
Added On - 5/10/2018 10:10:54 AM
The Reserve Bank of New Zealand has made it clear that the country's key official rate won’t be changing any time soon.
Big Dry Hits Incitec Pivot
Added On - 5/10/2018 10:10:44 AM
Nufarm, the crop protection group, warned earlier this week that the big dry across much of Australia's Eastern States would impact 2017-18 earnings (helped by poor weather in the US and Europe). Yesterday, explosives maker, Incitec Pivot cited the dry weather as one of the reasons for its weak first-half performance.
Godfreys Board Gives In To Takeover Bid
Added On - 5/10/2018 10:10:27 AM
Vacuum cleaner chain Godfreys threw in the towel yesterday in desperation and told shareholders to take the money and run after revealing a nasty 27% slide in sales in the past fortnight.
CSR Marked Down Despite Solid Result
Added On - 5/10/2018 10:10:21 AM
Investors marked down CSR shares yesterday despite the building products reporting what seems to have been a solid 2017-18 result, and a small rise in final and annual dividend.
More Pain For CBA As Q3 Profit Dips
Added On - 5/10/2018 10:10:09 AM
The Commonwealth Bank shares were hit hard yesterday, falling to a near five year low after the bank produced what investors took to be a weak third-quarter trading update, and yet another fine to settle a legal action from regulators.
ANZ Mulls Additional Share Buyback
Added On - 5/9/2018 7:20:41 AM
As Apple showed last week, there's nothing like the sniff of extra cash from a buyback to get shareholders sweet on you and so it is with the ANZ Bank which yesterday hinted it could double its current $1.5 billion buyback.
Fleetwood Slumps As Earnings Slashed
Added On - 5/9/2018 7:20:36 AM
Investors sold off the shares in Fleetwood Corp yesterday (which makes caravans, recreational vehicles (RVs) as well as affordable housing) after it slashed its 2017-18 profit guidance by more than 50%.
'Challenging Climate' Forces Nufarm Downgrade
Added On - 5/9/2018 7:20:32 AM
Shares in crop-protection company Nufarm dipped 0.9% yesterday after it joined the downgrade club - with the cause the gathering big dry in Australia and cold weather in parts of Europe and North America.
China Returns To Trade Surplus In April
Added On - 5/9/2018 7:20:27 AM
Remember all the hand-wringing a month ago when weak Chinese trade data for March had analysts and others suggesting that the economy was in trouble and the trade skirmishes with the Trump administration had started hurting.
Blue Sky Budget At Odds With 'Gradual' RBA
Added On - 5/9/2018 7:20:23 AM
The core of the Federal Government's election budget is a belief that not only will the revenue boost that emerged late last year will continue into 2019-20, but that more importantly wage growth will wake up and surge over the next two years,with the rise starting in the next few weeks.
CYGB In Takeover Tilt For Virgin Money
Added On - 5/8/2018 8:13:09 AM
It was Bank Holiday Monday in the UK yesterday, so perhaps the bosses at CYBG were on a day off - perhaps that's why they failed to inform the ASX that they had made an all-share takeover for Virgin Money worth more than 1.6 billion pounds, or more than $A2.8 billion.
Business Conditions Buoyant Ahead Of Budget
Added On - 5/8/2018 6:14:31 AM
Australian business conditions returned to record levels in April and business confidence also rebounded in the lead up to tonight's 2018-19 Federal Budget which is widely expected to set the scene for an early federal election.
Orica Swings To H1 Loss On Operational Issues
Added On - 5/8/2018 6:14:23 AM
As it warned in early March explosives and mining services group, Orica slumped to a weaker-than-expected $229.3 million half year loss after suffering several bouts of unplanned maintenance and reporting $353 million worth of impairments and provisions.
Reece Taps Into US Housing In $1.9b Deal
Added On - 5/8/2018 6:14:06 AM
One of Australia's richest and most private families has shown the benefits of controlling a big stake in a listed company in yesterday's $A1.9 million acquisition in the US by Melbourne based plumbing supplies group, Reece Group.
Westpac Dividend Steady As H1 Profit Rises 6%
Added On - 5/7/2018 10:31:52 AM
Like rivals NAB and ANZ, Westpac is leaving its interim dividend unchanged after a modest rise in earnings for the six months to March 31.
Warren Buffett Defends Wells Fargo Stake
Added On - 5/7/2018 10:31:29 AM
Warren Buffett is sticking by Wells Fargo, despite the $US1.185 billion in fines from regulators over numerous consider and staff abuses and the move by the Fed to order the back to freeze its balance sheet at end of 2017 levels, a move that has effectively stopped the bank from growing.
Key Takeaways From The Berkshire AGM
Added On - 5/7/2018 7:20:49 AM
Is Warren Buffett's love affair with Apple a case of (non) buyers remorse because he failed to spot the mega tech boom - especially the successes of Google (Alphabet) and Amazon?
Buffett's Berkshire Books Rare Loss
Added On - 5/7/2018 7:19:43 AM
Berkshire Hathaway suffered a $US1.1 billion first-quarter loss thanks to an accounting law change on the value of its investment portfolio which overshadowed a sharp improvement across much of Buffett empire.
Westpac Headlines Oz Earnings Week
Added On - 5/7/2018 7:10:26 AM
A quieter week ahead for the US March quarter earnings season, but in Australia, the pace picks up. Westpac reports its interim this morning after the NAB and ANZ produced ho-hum figures in their half-year reports.
Buffett Bites Into Apple Again
Added On - 5/7/2018 7:10:19 AM
Saint Warren saves the day and boosts Wall Street. A day ahead of Berkshire Hathaway's annual meeting in Omaha, Warren Buffett's revelation that his company had bought another 75 million Apple shares saved Wall Street from a nasty day out on Friday.
ASX Posts Best Week In 14-Months
Added On - 5/7/2018 7:10:08 AM
The Australian market will open with a positive tone this morning, reversing most of Friday's surprise sell-off after Wall Street ended the day sharply higher and the week roughly flat.
Oil Gains On Iran, Venezuela Worries
Added On - 5/7/2018 7:09:59 AM
Oil prices hit new multi-year highs on Friday, ending higher on the day and the week (again), thanks to growing concerns over the economic collapse of Venezuela and its oil industry, plus possible new sanctions against Iran from the Trump administration from May 12 onwards.
Diary: Federal Budget, Corporate Earnings, China Trade
Added On - 5/7/2018 7:09:49 AM
In Australia, the main focus will be on Tuesday's 2018-19 Federal Budget, which will be full of tax cuts, giveaways and few nasties ahead of a federal election sometime in the next year.
QBE Shareholders Revolt On Climate, CEO Pay
Added On - 5/4/2018 7:20:57 AM
There's nothing like big losses, a series of earnings downgrades and finally the omission of a dividend to concentrate the minds of shareholders. And so it was at the annual shareholders meeting of QBE yesterday.
Gold Demand Dips In January-March Quarter
Added On - 5/4/2018 7:20:51 AM
We now have a better understanding of why gold prices have weakened - it's not just the fact that the US Federal Reserve is firmly on a rate rise track, or the consequential rise in the value of the dollar.
Santos Unveils More Asset Sales
Added On - 5/4/2018 7:20:16 AM
Even though Santos is facing a $13.5-billion offer from Harbour Energy, that hasn't stopped its campaign of selling unwanted assets.
NAB Confirms MLC Sale As H1 Profit Dips
Added On - 5/3/2018 2:15:47 PM
National Australia Bank hit the mark so far as interim earnings and dividend are concerned, but is selling its MLC wealth management arm.
 

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