ASX200 up 56 points (0.8%) to 7137.
- A2Milk (-11.5%); has lowered its annual earnings forecast for the fourth time since September as the pandemic continues to crush sales via Chinese surrogate shoppers. Now expecting profit margin of 11-12% for FY21, down from the 24%-26% it forecast at its third earnings downgrade on Feb 25.
- AMP (+0.5%); have announced a $200m on-market share buyback starting today.
- ANZ (-1.2%); ex div 70c. Trading down 34c.
- Cleanaway (+1.1%); appoints Mark Schubert as CEO. He was previously at Origin Energy.
- Crown (+7%) / Star Entertainment (+8%); Blackstone has raised its bid for Crown by 50c from $11.85 to $12.35. THEN, Star have submitted a conditional, non-binding, indicative proposal to merge Crown at a nil-premium share exchange of 2.68 SGR shares per Crown shares. This equates to approx. $14+ per share. CWN trading @ $12.98.
- Crown Resorts (+7%); named Lend Lease CEO Steve McCann as new CEO.
- Incitec Pivot (-8.2%); said there have been further disruptions at its Waggaman ammonia plant in the US that will likely cost it up to $33m in net profit.
- Janus Henderson (-0.3%); ex div 48.74c. Trading down 15c.
- Pendal (TH); said 1H Net Profit $89.9m, up 64% yoy and has agreed to buy US-based fund manager Thompson, Siegel & Walmsley for US$320m and will partly fund the deal via a $190m placement.
- Seek (-0.6%); ex div 20c. Trading down 19c.
- Woolworths (+2.4%); aims to demerge drinks and hospitality business Endeavour Group into a separately listed company before returning up to $2bn to its shareholders.
