Stocks to watch on the Australian stock exchange on Friday, June 22
APN – APN NEWS & MEDIA LTD – down 2.5 cents at 71 cents
Struggling regional media publisher APN News & Media is bulking up its online presence in an effort to reposition for growth and ramp up digital earnings.
BBG – BILLABONG INTERNATIONAL LTD – in a trading halt, last traded at $1.83
Long-suffering Billabong shareholders have been asked to cough up $225 million after the troubled surfwear company issued another profit warning amid dire retail conditions.
BHP – BHP BILLITON LTD – down 40 cents at $32.20
RIO – RIO TINTO LTD – down 82 cents at $56.90
Mining giants BHP Billiton and Rio Tinto will not be affected by new laws in the United Kingdom requiring firms to list their greenhouse gas emissions because they say they already do so.
FUN – FUNTASTIC LTD – in a trading halt, last traded at 16 cents
Toy distributor Funtastic Limited says it has raised up to $24.6 million to reduce bank debt and improve its gearing ratios.
FXJ – FAIRFAX MEDIA LTD – steady at 59 cents
Unions are asking Fair Work Australia to force Fairfax to meet with them to discuss its future plans for the company and explain the logic behind its decision to cut 1900 jobs.
MYR – MYER HOLDINGS LTD – down nine cents, or 5.06 per cent, at $1.69
Myer shares have slumped to a record low, but chief executive Bernie Brookes insists the troubled department store chain has a positive future.
QAN – QANTAS AIRWAYS LTD – down two cents at $1.14
Qantas will cut more than 100 jobs at Sydney Airport as it transfers its component maintenance operations to Melbourne.
TLS – TELSTRA CORPORATION – up cent at $3.60
Musicians says the latest music streaming service, launched by Telstra, will help the industry suffer less from illegal downloading.
