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 - 7 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 - 10 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 ...

  • Weibo, a Chinese Answer to Twitter, Prices Its Offering at $17 The New York Times - 11 hours ago

    The microblogging service set a price at the bottom of its expected range, and will carry a value well below that of Twitter when it begins trading on the public markets.

  • Weibo IPO below expectations, raises $285.6 mn AFP - 12 hours ago
    Weibo IPO below expectations, raises $285.6 mn

    Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street. The firm, often described as China's version of Twitter, sold 16.8 million US depositary shares, according to Dow Jones Newswires, while a person familiar with the deal told AFP each share was priced at $17. In March, Weibo had estimated the value of its initial public offering at as much as $500 million. The offering comes as Chinese e-commerce giant Alibaba -- a shareholder in Weibo -- is preparing its own eagerly anticipated IPO later in the year, which is expected to be the biggest in the tech sector since Facebook's in 2012.

  • McAleese Ltd plunges 15.5% – Should you sell too? The Motley Fool Australia - 13 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 - 14 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 - 16 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 - 18 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 - Wed, Apr 16, 2014 8:58 PM AEST

    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 - Wed, Apr 16, 2014 7:59 PM AEST

    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 ...

 

Company Finances

  • Bravo Brio Restaurant Group, Inc. to Announce First Quarter 2014 Financial Results on April 29, 2014 GlobeNewswire - 4 minutes 48 seconds ago

    COLUMBUS, Ohio -- Bravo Brio Restaurant Group, Inc. owner and operator of the BRAVO! Cucina Italiana (BRAVO!) and BRIO Tuscan Grille (BRIO) restaurant concepts, today announced that it will host a conference ...

  • J & J Snack Foods Schedules Second Quarter Conference Call GlobeNewswire - 34 minutes ago

    PENNSAUKEN, N.J. -- J & J Snack Foods Corp. announced today that its conference call to discuss its second quarter 2014 results is scheduled for Tuesday, April 29, 2014 at 10:00 am Eastern time.

  • Weak Barbie sales weigh on Mattel 1Q Associated Press - 42 minutes ago
    Weak Barbie sales weigh on Mattel 1Q

    Toy maker Mattel says weak sales of Barbie and markdowns to clear out excess inventory left over from a sluggish holiday season led to an unexpected first-quarter loss. Its shares fell almost 5 percent ...

  • PepsiCo 1Q jumps on snack sales, cost cuts Associated Press - 1 hour 1 minute ago
    PepsiCo 1Q jumps on snack sales, cost cuts

    PepsiCo reported a stronger-than-expected first-quarter profit as the company slashed costs and sold more snacks around the world. The company, which makes Frito-Lay, Gatorade, Mountain Dew and Tropicana, ...

  • Sonoco Reports First Quarter 2014 Results GlobeNewswire - 1 hour 4 minutes ago

    HARTSVILLE, S.C. -- Sonoco , one of the largest diversified global packaging companies, today reported financial results for its first quarter ending March 30, 2014.

  • Research and Markets: Global 3DTV Market 2014-2018 With LG Electronics Inc., Panasonic Corp., Samsung … Business Wire - 2 hours 28 minutes ago

    DUBLIN--(BUSINESSWIRE)-- Research and Markets ( http://www.researchandmarkets.com/research/9dl7g7/global_3dtv ) has announced the addition of the "Global 3DTV Market 2014-2018 with LG Electronics ...

  • CD rates for April 17, 2014 Bankrate.com - 2 hours 34 minutes ago

    Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Compare CD rates nationally and in your area. CDs 0.24% (1-year CD yields) 0.79% (5-year CD yields) Rates on certificates of deposit ...

  • Credit card interest rates for April 17, 2014 Bankrate.com - 2 hours 34 minutes ago

    Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best credit card offers available. Credit Cards 13.02% (all fixed) 15.61% (all variable) Credit card rates were unchanged ...

  • Home equity loan rates for April 17, 2014 Bankrate.com - 2 hours 34 minutes ago

    Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best home equity rates in your area. Home Equity 4.92% (line of credit) 6.2% (loan) Rates on loans backed by home equity ...

  • Auto loan rates for April 17, 2014 Bankrate.com - 2 hours 34 minutes ago

    Rates on new and used car loans were mostly stagnant this week, according to Bankrate's latest survey of interest rates. Only the rate on the average 48-month used car loan moved, dropping 1 basis point to 4.87 percent, but the average rate on a 36-month used car loan held steady this week at 4.79 percent. The average rate for a 36-month new car loan remained this week at 4.12 percent. Similarly, the average rates for a 60-month new car loan and a 48-month new car loan also stayed the same as last week, at 4.22 percent and 4.14 percent, respectively.