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Morning Market Report

The market is up 19. SFE futures were up 16 this morning.

US markets up 46. The Dow was up 100 at best and made another five-year high despite the NASDAQ closing down 0.74%. US initial jobless claims fell by 5000 to 330,000 last week which is the lowest reading since January 2008. The US leading indicator index was up 0.5% in December, beating the forecast of +0.3%. US flash manufacturing came in at 56.1 — the highest reading since May 2010. Gold and US bond yields down. Apple finished down 12.35% to $450.50 on the back of their first quarter earnings they released on Wednesday after market. Microsoft released their quarterly earnings after hours of 76c per share with $US21.46bn in revenue compared to the expected 75c and US$21.53bn in revenue. The share price is currently down 2.24% in after hours trading in the US. Netflix finished up 42.22% to $146.86 after releasing their fourth quarter results that easily beat earnings and revenue estimate. Best sectors — consumer services (+0.7%), health care (+0.7%), financials (+0.5%) and energy (+0.5%). The US two-year bond yield was unchanged at 0.243% and the US 10 year yield was up 2bpts to 1.842%. Metals mixed — copper down 0.11%, nickel down 0.87%, aluminium up 0.09%, Lead up 1.46%. Spot iron ore up 90c to $148.60.

  • Atlas Iron (AGO) — Quarterly production results — maintains production forecasts after a record second quarter. AGO shipped 1.75 million tonnes of iron ore in the three months to December 31 which was up 10% and above an expected 1.5 million tonnes. AGO is up 0.64% to 158c.
  • Resmed (RMD) — Record financial results are better than expected. Strong result with operating EBIT up 37% to $92 million which was 7% ahead of a broker consensus. RMD is up 4.24% to 446c.
  • Western Areas (WSA) — Finds high grade nickel at Forrestania. WSA is up 1.97% to 440.5c.
  • Karoon Gas (KAR) — Discovers oil in the Kangaroo-1 exploration well. The Kangaroo-1 site had revealed a light oil column, which has been confirmed by mudlog, wireline petro physical and MDT pressure data. KAR is up 14.29% to 616c.
  • Specialty Fashion Group (SFH) — Expects their first half profit to nearly triple due to cost savings and improved sales. SFH is up 34.43% to 94c.
  • Leighton Holdings’ (LEI) Theiss has been awarded a five-year Sydney water operation and facilities maintenance contract valued at $175 million. LEI is up 4.82% to 2000c.
  • Linc Energy (LNC) — Shares went up 24% yesterday on the back of enormous estimates for the oil potential in their shale exploration acreage in South Australia. LNC is up 1.5% to 272c.
  • Australian Agricultural Co (AAC) — Loses chief financial officer
  • Production results today — WDR, AUC, AGO, GGG.
  • Share Buybacks — CFE, GPG, QAN, CGF, WDC, NWS

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