Stocks to watch on the Australian stock exchange on Wednesday, August 22
ALS – ALESCO CORPORATION LTD – down one cent at $2.01
DLX – DULUXGROUP LTD – down one cent at $3.33
DuluxGroup has extended its takeover offer for building products group Alesco Corporation by two weeks.
AMC – AMCOR LTD – down six cents at $7.66
Amcor’s flexible packaging business is set for more growth in China, after the company took full ownership of factories in Beijing and Chengdu.
ARI – ARRIUM LTD – up 9.5 cents at 90.5 cents
BSL – BLUESCOPE STEEL LTD – down three cents at 36.5
Arrium has outshone rival BlueScope Steel and made steelmaking profitable again but faces a difficult year of weak demand and falling iron ore prices
CBA – COMMONWEALTH BANK OF AUSTRALIA – steady at $55.80
Lawyers say they have uncovered new information which proves the Commonwealth Bank knew Storm Financial investors would likely lose their money during the global economic meltdown.
CMJ – CONSOLIDATED MEDIA HOLDINGS – steady at $3.44
NWS – NEWS CORPORATION LTD – down 16 cents at $22.38
NSWLV – NEWS CORPORATION NON VOTING SHARES – down 27 cents at $22.10
Consolidated Media Holdings (CMH) believes it can wrap up a $2 billion takeover deal with Rupert Murdoch’s News Ltd within months. (CONS MEDIA Wrap on file with factboxes
CWP – CEDAR WOODS PROPERTIES LTD – down six cents at $3.90
Cedar Woods expects its two-year record profit streak will end this financial year, with earnings growth stagnating because of the tough market for property developments.
EHL – EMECO HOLDINGS LTD – down six cents at 90 cents
Earthmoving equipment supplier Emeco Holdings is counting on the Chilean copper mining boom as well as increased demand in Indonesia and Canada to continue growth in 2013.
FXJ – FAIRFAX MEDIA LTD – up 1.5 cents at 57.5 cents
Fairfax journalists have stopped work to discuss the axing of 300 editorial positions.
HDF – HASTINGS DIVERSIFIED UTILITIES FUND – up eight cents at $2.64
APA – APA GROUP – up 20 cents at $4.82
The nine-month battle for energy infrastructure investor Hastings Diversified Utilities Fund (HDF) has been won, with a $1.4 billion takeover bid by APA Group.
MGR – MIRVAC GROUP – down one cent at $1.36
Property developer Mirvac Group has more than doubled its full year profit thanks to higher property values and the sale of its hotel management business.
MND – MONADELPHOUS GROUP – up $1.56 at $23.26
Engineering company Monadelphous has posted another record full year profit and says its earnings will continue to grow due to the long list of resources projects on its books.
ORG – ORIGIN ENERGY LTD – up 19 cents at $12.98
Origin Energy’s court battle for the right to charge higher electricity prices has been pushed back because it has decided to expand its case.
OSH – OIL SEARCH LTD – down three cents at $7.16
Australia’s third-largest pure oil and gas producer Oil Search says its $2 billion expansion plans in Papua New Guinea (PNG) are on track following a year marked by political instability.
SHL – SONIC HEALTHCARE LTD – down 35 cents at $12.82
Sonic Healthcare expects expansion in the United States and Germany to boost its growth, despite the gloomy US economy.
TLS – TELSTRA CORPORATION LTD – up five cents at $3.75
Telstra is to axe 422 jobs at its customer service and call-centre operations.
Telstra on Tuesday said it would close its customer service centres in Lismore in NSW and Townsville in Queensland.
WPL – WOODSIDE PETROLEUM LTD – up 88 cents at $36.00
Woodside shares rose 2.5 per cent after oil and gas giant Chevron announced its departure from the controversial Browse Basin project in the Kimberley region of WA.
