Stocks to watch on the Australian stock exchange on Friday:
AWC – ALUMINA LTD – down 11 cents at $1.79
Alumina recorded a 53 per cent increase in first half profit, but the aluminium maker’s stocks slumped after failing to meet broker’s estimates.
AQP – AQUARIUS PLATINUM LTD – down five cents at $3.55
Aquarius Platinum has reported a $US10.4 million full year net loss after mining ceased at its Blue Ridge operation in South Africa, resulting in an impairment.
BLS – BLUESCOPE STEEL LTD – down 1.5 cents at 98 cents
BlueScope Steel says it expects asset writedowns of about $900 million when it reports its full-year results later this month.
CMJ – CONSOLIDATED MEDIA HOLDINGS – down 13 cents at $2.15
NWS – NEWS CORPORATION – up 54 cents at $14.75
NWSLV – NEWS CORPORATION NON-VOTING – up 39 cents at $14.25
TLS – TELSTRA CORPORATION LTD – up 16 cents at $2.99
Foxtel is confident it can again achieve growth this financial year aided by its $600 million plus AFL deal, despite consumer uncertainty creating a tough market for pay TV.
Meanwhile, Telstra’s new pricing campaign and focus on improving its historically poor customer service appears to be working.
And News Corporation boss Rupert Murdoch has hosed down speculation about his leadership of the company he founded more than 50 years ago, saying he has board backing to stay at the helm.
COE – COOPER ENERGY LTD – up 3.5 cents at 41.5 cents
Cooper Energy shares jumped after the junior oil and gas producer said it had been approached by several parties for a merger or outright takeover.
DJS – DAVID JONES LTD – down 18 cents at $2.62
David Jones has recorded one of its worst quarterly sales results, casting doubt on its profit forecast and leaving the share price battered.
GPT – GTP GROUP – up seven cents at $2.78
Property manager GPT Group has upgraded its first half and full year earnings guidance and says it will restart a buy-back of its shares.
NCK – NICK SCALI LTD – up one cent at $1.50
Furniture retailer Nick Scali has posted record annual profit, with written orders growing in the early part of the new financial year.
SGT – SINGAPORE TELECOMMUNICATIONS LTD – down five cents at $2.33
Telecommunications provider Optus has posted a 4.9 per cent fall in quarterly profit to $161 million, describing the result as “resilient” amid intense competition and discounting.
SGN – STW COMMUNICATIONS GROUP LTD – up 2.5 cents at 88 cents
STW Communications Group says it hopes to announce some acquisitions in the second half of calendar 2011 after organic growth helped lift first half earnings.
