Rio Tinto will wind down its NZ aluminium smelter business following the conclusion of the strategic review because it is no longer viable because of the aluminium price and energy costs. The wind-down is expected to be completed in August 2021.
Read MoreUBS reviews implications for plasma collection with the rise in coronavirus cases in certain US states. The broker expects a decline of -20% on average from April-September 2020 and then no growth until March 2021.
Read MoreUncertainty prevails regarding the company’s upcoming FY21 guidance, Credit Suisse asserts, and this has weighed on the share price.
Read MoreNova nickel production in the June quarter was -8% below UBS estimates. Copper and cobalt were better-than-expected.
Read MoreCredit Suisse had been of the view that Origin Energy did not offer compelling value relative to oil & gas peers, based on implied prices and a negative outlook for energy markets.
Read MoreMacquarie revises forecasts to reflect current housing activity and low visibility into FY21.
Read MoreCredit Suisse lowers coal volume forecasts by -5.8% for FY21. Overall, the impact on the Australian export market is more benign compared with other global markets because of the relatively higher quality of Australian coal, and higher fixed costs.
Read MoreUBS was not surprised by the $800m capital raising and the $250m sell-down by the company’s co-founders, assessing this is understandable in the current situation.
Read MoreMayne Pharma has entered into a supply agreement with Chinese base manufacturer Novast Laboratories for 13 US generic oral contraceptive products, including five not previously marketed.
Read MoreMayne Pharma has entered into a supply agreement with Chinese base manufacturer Novast Laboratories for 13 US generic oral contraceptive products, including five not previously marketed.
Read MoreHotel Property has declared a final distributional of 9.7c for FY20, ahead of Morgans’ forecast. This brings total distributions to 20c.
Read MoreAfter analysing comparative US purchase debt ledger data, the broker notes PDL pricing in Australia appears to be adjusting materially when US pricing has been slower to respond, and Wallet Wizard book contraction should be an earnings headwind.
Read MoreCredit Suisse reviews the earnings drivers and revises down earnings forecasts for the second half of FY20.
Read MoreThe company continues to benefit from a shift to online because of the pandemic restrictions while government stimulus is also helping boost consumption.
Read MoreWhile website traffic and industry data have been positive, Macquarie is cautious about the medium-term.
Read MoreCredit Suisse reinstates coverage with a Neutral rating and $11.35 target. The broker envisages NextDC will be a beneficiary of higher demand resulting from work-from-home arrangements.
Read MoreUBS points out PMI data for the fourth quarter indicates manufacturing is recovering at a faster-than-expected pace.
Read MoreThe broker notes Karoon Energy was just about to make transformational acquisition before oil prices collapsed in March. The broker now sees the Bauna deal as unlikely to progress, with valuations and debt markets severely impacted.
Read MoreThe broker notes lead indicators for ALS’ geochem business are improving, with Canadian resource raisings up 66% in the first half of 2020 and Australian raisings also lifting off low levels. Typically there is a 2-3 month lag for resource raisings to flow into additional exploration activity.
Read MoreFY20 earnings are lower than Credit Suisse expected with a statutory loss of -$230-340m guided, including $370m of after-tax engineering separation costs.
Read MoreGeneral insurer share prices have underperformed, UBS observes, with average 2020 price declines of -30% in the year to date.
Read MoreMacquarie adjusts forecasts for earnings per share down -36% to account for the trading update for May, which implies FY20 earnings guidance of NZ$309m.
Read MoreNufarm has guided to $15m in operating earnings (EBITDA) improvement with the closure of manufacturing at Raymond Road and 2, 4-D synthesis at its site in Austria.
Read MoreIDP Education is highly dependent on international travel but, UBS asserts, the structural thematic is unchanged.
Read MoreManagement has indicated that earnings to date have not been materially affected by the pandemic. The total amount of rent waved over the three months period is less than $1m.
Read MoreUBS has quantified the volume of non-urgent elective surgery that was likely deferred across Australia during the peak of the pandemic-related restrictions.
Read MoreStrandline Resources is approaching a final decision on its long-life Coburn mineral sands project in WA, which th broker describes as world-class. The stock offers a compelling capital growth prospect for investors willing to tak on project risk, the broker suggests.
Read MoreQantas has announced an equity raising of $1.36bn. The proceeds will fund a three-year recovery plan and pay down debt.
Read MoreUBS observes Treasury Wines share loss is accelerating in the US. Overall, the broker forecasts a -9% decline in second half volume in the Americas.
Read MoreCSL has entered into a licensing agreement with uniQure for exclusive rights to a gene therapy product for haemophilia B.
Read MoreProvisional June quarter sales indicate lithium carbonate pricing has fallen to a record low of US$4015/t. Volumes are also weak.
Read MoreFY20 guidance has been reinstated with net profit expected to be $84-88m. Trading in May and June has been very strong.
Read MoreThe news out of Qantas ((QAN)) yesterday only serves to reinforce the broker’s Sell rating on Sydney Airport.
Read MoreThe company has indicated its operating performance has improved significantly over May and June. All 20 centres are open.
Read MoreThe company has updated 2020 production guidance to 16.5-17mt. Sales volumes will be higher, given the draw on inventory in the US.
Read MoreCSL Behring has obtained exclusive rights to develop and commercialise uniQure’s gene therapy candidate for Hemophilia B. Morgan Stanley expects CSL to pay uniQure more than US$2bn including $450m cash.
Read MoreThe prefeasibility study has indicated that a transition to a block cave at the lower half of the Carrapateena ore body is accretive to value. Mining rates would lift to 12mtpa from 5mtpa for around $1.2-1.3bn of incremental expenditure.
Read MoreAMP has received final regulatory approval for the sale of the life business. Macquarie estimates this leaves AMP with around $950m in excess capital.
Read MoreThe broker retains a Hold rating on Woodside Petroleum, but is cautious as there are many questions that remain unanswered. Does Woodside buy Chevron’s North West Shelf stake, now on offer?
Read MoreSeek has guided to FY20 being slightly ahead of Credit Suisse’s estimates, expecting operating earnings (EBITDA) of $410m.
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