Stocks to watch on the Australian stock exchange:
BUB – BUBS AUSTRALIA – up 7 cents, or 9.2 per cent, at 83 cents
Baby food supplier Bubs Australia is charging ahead after the acquisition of goat milk products maker NuLac Foods helped boost the group’s third-quarter net sales fivefold.
BXB – BRAMBLES – down 17 cents, or 1.7 per cent, at $9.62
Brambles says it will cop a $US4.9 million non-cash impairment in its full-year results after divesting its 50 per cent stake in the Hoover Ferguson Group to co-venture partner First Reserve.
KGN – KOGAN.COM – up 63 cents, or 7.4 per cent, at $9.17
Online retailer Kogan.com Kogan has announced that it has extended its partnership with Vodafone Hutchison with the intention to offer low cost nbn services later this year.
MHJ – MICHAEL HILL INTERNATIONAL – steady at $1.12
Jewellery chain Michael Hill International estimates the closure of its nine loss-making US stores will cost about $US4.5 million ($A6m) in terminated lease agreements and staff severances.
OML – OOH!MEDIA – down 7 cents, or 1.5 per cent, at $4.72
Outdoor advertiser oOh!media has confirmed its takeover bid for Here, There & Everywhere’s (HT&E) out-of-home business Adshel has been rejected.
QAN – QANTAS AIRWAYS – down 6 cents, or one per cent, at $6.04
Experienced corporate figure and and current University of Sydney chancellor Belinda Hutchinson Belinda Hutchinson has joined the board of Qantas as a non-executive director.
STO – SANTOS – steady at $5.97
The US company bidding for control of local oil and gas producer Santos has appointed a former BHP Billiton petroleum executive as chief financial officer.