we had a shocking run this friday.. the stockmarket is bleeding due to the diseased US markets …
In australian Stock market news today…
- Harvey Norman (HVN) down 10c to 362c - 2Q sales increased 6.8% from a year ago. On a like-for-like basis Australian sales were up 6.5% for the quarter. They have reiterated guidance of a 40% increase in pre-tax profit for the half year. HVN reported total group sales growth of 4% for the half and 2.5% LFL
- ResMed (RMD) doing well - up 6% to 635c - after reporting a better-than-expected 36% rise in 2Q net profit to $US45.9m. One broker predicted $US41.5m.
- TABCORP Holdings (TAH) management says a demerger involving their gaming and casino businesses is not on the cards. They announced a better than expected earnings result yesterday. TAH up 5c to 710c.
- Street Talk says both Extract Resources (EXT) andCuDeco (CDU) are lining up for capital raisings to help them with project development. EXT down 3.7% to 728c and CDU down 8.9% to 356c.
- AED Oil (AED) acquires stakes in two Indonesian oil and gas properties from Canadian company Nations Patroleum, paying $US1.5m and issuing 12m shares. AED down 5.8% to 56.5c.
- Ramelius Resources (RMS) expects a net profit (before income tax) for the half to be approximately $15m compared to the $1.03m next loss at the same time last year. RMS down 0.5c to 55c.
- Sonic Healthcare (SHL) acquires Medhold Group in Belgium. SHL up 15c to 1443c.
- Virgin Blue (VBA) announced last night that it expects a pretax profit of $80m-$110m for the financial year. VBA down 1c to 54c.
- EdenEnergy (EDE) up to 14c from 5.7c after signing terms sheet with Indian Oil Corp, India’s largest commercial enterprise.
- The Australian performance of construction index hit its highest point in 2 years last month, up 8.4 points to 57.7.
- Stocks hitting fresh yearly lows include: Dominion Mining (DOM), Elders (ELD) and Apex Minerals (AXM).