Daily FNArena News - Australia

The renewed alliance between Viva Energy and Coles is making life more difficult for Caltex, although brokers still envisage the long-term opportunity from convenience retailing is substantial.

Accelerating mining activity is expected to quickly lead to improvement for Ausdrill’s business as it consolidates recent mergers.

Brokers perceive Newcrest could add significant value to the Red Chris copper-gold project, in which it has acquired a 70% stake.

Appen is enhancing its data analytics technology with the acquisition of Figure Eight, which promises a recurring revenue base, increased scale and improved productivity.

NextDC performed poorly in the wake of the first half results and several brokers believe the numbers and the company’s strategy have not been well understood.

OZ Minerals plans to increase copper production at Carrapateena significantly, which is expected to more than offset the forecast decline in output from Prominent Hill.

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

Brokers welcome the decision by Coles to transfer its hotel operations to Australian Venue Company, while retaining earnings from its liquor stores.

Metcash has outlined an expenditure program designed to lift all areas of its business over FY20-24. Brokers contemplate the outlook in light of the latest trading update.

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.