Stocks to watch on the Australian stock exchange on Friday, Nov 7:
APN – APN NEWS AND MEDIA – up 1.5 cents, or two per cent, at 75.5 cents
APN News & Media will take a $NZ54 million ($A50.27 million) impairment on its New Zealand newspaper mastheads in its 2014 results and has forecast a 5.1 per cent decline in 2015 earnings for its New Zealand media business.
BLD – BORAL – down two cents, or 0.4 per cent, at $4.86
More bad weather could hamper building materials group Boral’s earnings during this financial year.
FXJ – FAIRFAX – down one cent, or 1.2 per cent, at 80 cents
Fairfax Media wants “archaic” media ownership laws changed as the group’s revenues continue to fall and merger speculation mounts within the sector.
NWS – NEWS CORP – up $1.12, or 6.6 per cent, at $18.08
NWSLV – NEWS CORP NON-VOTING STOCK – up $1.11, or 6.4 per cent, at $18.46
Rupert Murdoch’s News Corp has lifted first quarter earnings despite a slide in revenues from its core newspaper business.
QAN – QANTAS AIRWAYS – down six cents, or 3.5 per cent, at $1.655
The share of Qantas that is owned by foreign investors has dipped.
TEN – TEN NETWORK – up 1.5 cents, or seven per cent, at 23 cents
The troubled Ten Network has brought in advisers to investigate several options for its future, which could include a takeover or merger with other media companies.
UGL – UGL – down $1.01, or 14.6 per cent, at $5.89
Engineering and property services firm UGL has warned of a $180 million cost blowout to a joint venture power station at the Ichthys LNG project in northern Australia.
