Stocks to watch on the Australian stock exchange:
GMA – GENWORTH MORTGAGE INSURANCE – down 7 cents, or 2.9 per cent, at $2.31
Genworth’s first quarter profit dropped 84 per cent on the previous corresponding quarter, as the housing market continued to moderate.
FXJ – FAIRFAX MEDIA – up 4 cents, or 5.6 per cent, at 75 cents
Fairfax’s revenue dipped one per cent in the first 17 weeks of the second half of the financial year, dragged down by a two per cent fall in revenue from the company’s metropolitan newspapers.
JBH – JB HI-FI – down $1.86, or 7.3 per cent, at $23.71
JB Hi-Fi says sales at The Good Guys fell in the third quarter of the financial year due to unfavourable weather conditions and price competition, and it has lowered its forecast for overall annual net profit.
QAN – QANTAS AIRWAYS – up 36 cents, or 6.2 per cent, at $6.16
The airline’s third quarter revenue rose 7.5 per cent from a year ago and it has forecast a record full-year underlying pre-tax profit of between $1.55 billion and $1.6 billion.
WOW – WOOLWORTHS – up 25.5 cents, or 0.9 per cent, at $27.995
Woolworths has outpaced rival Coles’ sales growth for a sixth consecutive quarter, with third quarter comparable food sales up four per cent from a year ago.