In today’s daily we have covered stock research on Perpetual Limited. To view 6 dividends stock to buy, please click on the link.

S&P 500 was down by  2.13 points or 0.11% to 1888.77 on Thursday. U.S. stocks  fell, after benchmark indexes climbed to records, as consumer and technology shares slumped before the government’s monthly jobs report tomorrow.

US stocks slipped on Thursday, with a sharp drop in biotech and momentum stocks pushing the Nasdaq composite down nearly 1 percent. The S&P 500 now consists of 501 stocks, as the index now includes both Google’s Class A and Class C shares in the wake of the company’s special dividend. The US trade deficit unexpectedly widened in February as exports hit a five-month low, suggesting first-quarter growth could be much weaker than initially anticipated.  In China, shares dropped as property stocks were hit by profit-taking following a jump the previous day on media reports that some cities may relax restrictions on home buying. 


S&P 500 Daily Chart   (Source – Thomson Reuters)

S&P ASX 200was up 6.6 points or 0.12% and closed at 5409.90 points on Thursday. Ryan Stokes wants Seven Group Holdings to emulate the success of Wesfarmers’ conglomerate model and is using a bid for Nexus Energy as a platform to build a strong “third arm” for the media and mining services group.

Santos has kicked off the formal environmental approvals process for its controversial $2 billion Narrabri coal seam gas project in New South Wales’s Pilliga forest, to the consternation of environmental and local opponents to the venture. Starwood Hotels & Resorts Worldwide which owns and manages the Sheraton hotel near Hyde Park under its Sheraton banner, has confirmed it is in the process of selling the property.


S&P ASX 200 Daily Chart (Source – Thomson Reuters)


The top gainers on ASX 200 were:-
 

Code	Name	Price	Change	% Change
GFF	Goodman Fielder	$0.51	$0.035	7.37%
AQA	Aquila Resources	$2.55	$0.12	4.94%
PTM	Platinum Management	$7.70	$0.27	363%
NST	Northern Star	$1.095	$0.035	3.30%
BKN	Bradken	$4.28	$0.12	2.88%

 
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Stock of the Day – Qantas (QAN)

Qantas airways is Australia’s largest airline, providing domestic and regional flights in Australia and New Zealand, as well as international passenger and freight services to and from Australia. Under a multi brand strategy the full service airline Qantas is complemented by low cost carrier Jetstar which also has operations in several Asian countries. The frequent flyer loyalty program continues to grow and now has 9.7 million members.

Qantas earnings are exposed to a number of factors outside management control. Economic conditions impact passenger demand while fuel costs and foreign currency movements impact earnings. To maintain its domestic share target Qantas added capacity despite an oversupply. This has put downward pressure on loads and fares have fallen as airlines attempt to stimulate demand.


Source - Qantas
 
Qantas reported a steep loss for first half fiscal 2014 as competitive pressures intensified across both the domestic and international businesses. As underlying loss before tax of AUD 252 million was in line with the recent guidance. Typically earnings in the second half are weaker than the first we estimate an underlying loss before tax for the full year of AUD 604 million.


Qantas Daily Chart  (Source - Thomson Reuters)

The strategic review update contained no surprises. Management’s target to deliver AUD 2 billion in cost savings will largely come from extending policies and programs already underway. No material asset sales were announced although this remains an option. We believe Qantas is overvalued at its current price and would review the stock at a later date.

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Disclaimer
Kalkine provides general advice on securities. Kalkine does not provide advice that takes into account your, or anybody else’s investment objectives, financial situation or needs. We strongly suggest that you should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. Employees and/or associates of Kalkine Pty Ltd may hold one or more of the stocks reviewed on this website. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in:  BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
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