Stocks to watch on the Australian stock exchange on Wednesday, March 25:
KMD – KATHMANDU – down 19.5 cents, or 12.4 per cent, at $1.375
Outdoor equipment retailer Kathmandu has warned that second half sales are below last year’s, with consumer discretionary spending weak as it swings to a first half loss.
MYR – MYER – up 0.5 cents, or 0.4 per cent, at $1.355
Myer has defended the timing of its profit downgrade, saying it told the market as soon as possible that its annual earnings would be weaker than expected.
NHC – NEW HOPE CORPORATION – up seven cents, or 2.8 per cent, at $2.55
Queensland resources group New Hope Coal has slumped to a $23.1 million first half net loss due to write-downs of its oil and gas assets.
QAN – QANTAS AIRWAYS – down five cents, or 1.6 per cent, at $2.99
Plans by Qantas and China Eastern to expand their alliance have come under a cloud after the competition watchdog expressed concern about it possibly leading to higher airfares.
TPM – TPG TELECOM – up 31 cents, or 3.5 per cent, at $9.14
IIN – IINET – down 19 cents, or 2.2 per cent, at $8.66
A solid lift in first half profit has put TPG Telecom on track to increase its full year earnings by up to a third.
WPL – WOODSIDE PETROLEUM – down 12 cents, or 0.3 per cent, at $35.41
Woodside Petroleum is cutting 300 jobs and freezing pay as the energy giant slashes expenditure following a plunge in the oil price.
