Flight Centre appeals $11m fine

Flight Centre appeals $11m fine

AAP Travel agency Flight Centre has appealed an $11 million fine for anti-competitive behaviour. Federal Court judge John Logan imposed the fine in March after the court ruled in December that Flight Centre had threatened to stop selling flights on several airlines in order to offer the lowest fares. In a case brought by the Australian Competition and Consumer Commission, Flight Centre was found…

Australian Markets

  • Japara Healthcare Ltd gives IPO investors a 27.5% stag profit – what investors need to know The Motley Fool Australia - 4 hours ago

    Freshly floated aged care operator Japara Healthcare Ltd (ASX:JHC) has surged 27.5% to $2.55 by early afternoon on Thursday after debuting on the stock market this morning. It's an amazing immediate profit for IPO investors - otherwise known as a 'stag profit'. The initial public offering (IPO) was priced at $2.00 per share which equated to an expensive looking 22.6 times price-to-earnings (PE) ratio. The market however appears comfortable with ascribing a high value to Japara, with investors excited by the quality of the business and its growth potential.

  • Stocks to watch at noon on Thursday AAP - 7 hours ago

    Stocks to watch on the Australian stock exchange at noon on Thursday: API - AUSTRALIAN PHARMACEUTICAL INDUSTRIES - down 1.5 cents, or 2.65 per cent, at 55 cents Australian Pharmaceutical Industries is ...

  • McAleese Ltd plunges 15.5% – Should you sell too? The Motley Fool Australia - 10 hours ago

    If you were unlucky enough to receive an allocation in the McAleese Ltd (MCS.AX) initial public offering (IPO) last November, or unfortunate enough to have decided to purchase stock on market since the IPO you are no doubt bewildered by the transport company's second profit warning which has sent the share price down 15.5% to close at a new all-time low of 43.5 cents. Perhaps one comforting factor for investors is that Chairman and now CEO Mark Rowsthorn - who was previously CEO at rail freight company Asciano Ltd (AIO.AX) and before that a senior director at freight and logistics group Toll Holdings Limited (TOL.AX) - owns around 30% of McAleese, so at least he is feeling the pain of the company's dismal performance too! McAleese has certainly been the worst of the recent bundle of floats to hit the market and a far cry from Beacon Lighting Group Ltd's (ASX:BLX) 60% gain on debut. It's a good reminder that IPO investing does not guarantee profits and sooner or later - in McAleese's case sooner - the stock price will be driven by fundamentals not hype.

  • Denbury Announces Pricing and Upsizing of Its Senior Subordinated Notes Offering GlobeNewswire - 11 hours ago

    PLANO, Texas -- Denbury Resources Inc. ("Denbury" or the "Company") today announced that it has priced its public offering of senior subordinated notes due May 2022 and increased the ...

  • CORRECTING and REPLACING -- Sonoco Board Increases Common Stock Dividend GlobeNewswire - 13 hours ago

    Please replace the release with the following corrected version due to a revision.

  • Weibo IPO below expectations, raises $285.6 mn: report AFP - 15 hours ago
    Weibo IPO below expectations, raises $285.6 mn: report

    Sina Weibo has sold fewer shares than expected in its US IPO which has been priced below expectations, a report said Thursday, ahead of its listing which takes place after selloffs on Wall Street. The Beijing-based firm, often described as China's version of Twitter, sold 16.8 million US depositary shares at $17, raising $285.6 million before the sale of any additional shares to underwriters, Dow Jones Newswires said, quoting two people familiar with the deal. Those figures are well below the 20 million shares and $340 million which it had been aiming for -- reflecting a cautious mood after the tech-weighted Nasdaq index tumbled for more than three weeks. Sina Weibo -- launched in August 2009 to provide services akin to Twitter which is banned in China -- is a leading social media site in a country with the world's largest population of Internet users at 618 million.

  • Moelis & Co. prices initial public offering at $25 Associated Press - 22 hours ago

    Moelis & Co. priced its initial public offering at $25 per share, which was below expectations. The New York investment bank plans to offer 6.5 million shares to raise $162.5 million. Underwriters have ...

  • Statoil's share saving plan allocates shares GlobeNewswire - 23 hours ago

    STAVANGER, Norway -- The shares purchased by DNB on behalf of Statoil ASA (OSE:STL, NYSE:STO) on 15 April 2014 for use in the group's share saving plan have on 16 April 2014 been distributed to the employees ...

  • Aussie shares close higher AAP - Wed, Apr 16, 2014 4:17 PM AEST

    The Australian share market closed higher on Thursday, with positive manufacturing data out of the US overnight and China during the day promoting positive investor sentiment.

  • Alibaba steals Yahoo's thunder ahead of IPO AFP - Wed, Apr 16, 2014 3:09 PM AEST
    Alibaba steals Yahoo's thunder ahead of IPO

    If Yahoo appears back in favor, it can thank Alibaba, the Chinese Web giant in which it holds a big stake and which is set for a public stock offering. Yahoo shares soared 7.3 percent to $36.71 at the opening Wednesday on the heels of a better-than-expected quarterly report, but some were more focused on the Alibaba financial results buried in the document. "The salient point of Yahoo's first quarter results was the very strong December quarter results from Alibaba," said Jordan Rohan, analyst at the brokerage Stifel. "Alibaba's results paint a favorable picture for a favorable IPO despite the recent period of weakness in the Internet sector."

 

Company Finances

  • Lincoln Launches in China; Unique Offering for Today’s Chinese Luxury Auto Customers Business Wire - 41 minutes ago

    Lincoln officially introduces its brand to China today, offering an innovative ownership experience unlike any other to meet the evolving needs of today's Chinese luxury auto customer. Making the announcement are (left to right) Alan Mulally, president and CEO, Ford Motor Company; >Lincoln officially introduces its brand to China today, offering an innovative ownership experience unlike any other to meet the evolving needs of today’s Chinese luxury auto customer >Designed specifically for China customers, the brand has created The Lincoln Way – an innovative new model that shifts luxury automotive ownership from a sales-and-service transaction model to a relationship-based experience model

  • Chinese auto brands limp into Beijing show Associated Press - 3 hours ago
    Chinese auto brands limp into Beijing show

    China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult for homegrown models. ...

  • Supplementary Information about Sale of SQUARE ENIX HOLDINGS CO., LTD. Shares Held by Sony Computer Entertainment … ACN Newswire - 4 hours ago

    Tokyo, Apr 17, 2014 - (JCN Newswire) - With respect to the sale of all of the shares (9,520,000 shares) of SQUARE ENIX HOLDINGS CO., LTD. held by Sony Computer Entertainment Inc. ("SCEI"), a ...

  • Samsung looks to life beyond smartphone AAP - 5 hours ago

    After years of record profit growth, tech giant Samsung Electronics looks to be at a commercial crossroads as it searches for a new growth driver to counter slowing sales of its phenomenally successful smartphones. Alarm bells have been sounding for a while over Samsung's reliance on smartphone sales in increasingly mature markets such as Europe and the United States, and increasingly competitive emerging markets like China. The world's largest smartphone maker has a diverse product line ranging from memory chips to home appliances, but more than half its profits are generated by mobile devices. Last week, Samsung said it was on track for a second consecutive quarter of year-on-year profit decline, and its stock price fell nearly 10 per cent in 2013 -- the first annual drop in five years.

  • Final Glance: Restaurant companies Associated Press - 11 hours ago

    Shares of some top restaurant companies were mixed at the close of trading: Brinker International Inc. rose $.10 or .2 percent, to $51.20. Chipotle Mexican Grill Inc. rose $11.86 or 2.2 percent, to $552.40. ...

  • Final Glance: Tools and Appliances companies Associated Press - 11 hours ago

    Shares of some top tools and appliances companies were up at the close of trading: General Electric Co. rose $.30 or 1.2 percent, to $26.12. Snap-On rose $2.03 or 1.8 percent, to $112.56. Stanley Works ...

  • Final Glance: Food companies Associated Press - 11 hours ago

    Shares of some top food companies were up at the close of trading: ConAgra Foods Inc. rose $.33 or 1.1 percent, to $31.20. General Mills Inc. rose $1.01 or 2.0 percent, to $52.26. Hormel Foods Corp. rose ...

  • Final Glance: Consumer companies Associated Press - 11 hours ago

    Shares of some top consumer companies were up at the close of trading: Clorox rose $.63 or .7 percent, to $90.51. Colgate-Palmolive Co. rose $.81 or 1.2 percent, to $67.18. Kimberly-Clark Corp. rose $1.86 ...

  • Final Glance: Beverages companies Associated Press - 11 hours ago

    Shares of some top beverages companies were up at the close of trading: Anheuser-Busch Inbev ADR rose $.73 or .7 percent, to $108.96. Coca-Cola Co. rose $.41 or 1.0 percent, to $40.59. Dr Pepper Snapple ...

  • CORRECTING and REPLACING -- Sonoco Board Increases Common Stock Dividend GlobeNewswire - 13 hours ago

    Please replace the release with the following corrected version due to a revision.