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Kalkine Daily 26/06/2015 + SEEK + OZFOREX

Jun 28, 2015

| Read Time :10 Mins

In today’s daily we have covered stock research on SEEK (EXPENSIVE) & OZFOREX (BUY).

The S&P 500 was down by 6.27 points or 0.30% to 2102.31 on Thursday. U.S. stocks ended a quiet session with modest losses on Thursday, but healthcare stocks rallied after the U.S. Supreme Court upheld tax subsidies key to President Barack Obama's signature healthcare reform law. Energy shares drove the day's weakness, falling alongside crude oil prices, while uncertainty surrounding Greece also limited positive sentiment.

The Dow Jones industrial average fell 75.71 points, or 0.42 percent, to 17,890.36, the S&P 500 lost 6.27 points, or 0.3 percent, to 2,102.31 and the Nasdaq Composite dropped 10.22 points, or 0.2 percent, to 5,112.19. Energy shares were the weakest of the day, with the S&P energy index down 1 percent. U.S. crude futures settled down about 1 percent at $59.70 per barrel, weighed by weaker U.S. refined fuels markets. Occidental Petroleum fell 1 percent to $78.53. Health insurance and hospital stocks rose following the Supreme Court’s ruling that Affordable Care Act subsidies were constitutional. UnitedHealth Group Inc. shares gained 2.65% and Tenet Healthcare Corp. jumped 12.24%.

Occidental Petroleum Daily Chart (Source - Thomson Reuters)

S&P ASX 200 was down by 54.10 points or 0.95% on Thursday and closed at 5632.70 points.Slater and Gordon shares plummeted 17.4 per cent to $5.06, as investors reacted to statements that Quindell, the parent company of its recent acquisition, is under investigation by UK authorities. Flight Centre shares stabilized a little, losing just 0.4 per cent to $34.07, after a terrible couple of days following a profit warning on Tuesday. The stock has plunged nearly 23.6 per cent since then.

Seek, which has lost 14.5 per cent since an earnings downgrade last week, has also stabilized and added 0.2 per cent to $14.11. The banks set the tone for the market overall, with ANZ losing 0.6 per cent to $33.44, NAB shedding 0.2 per cent to $34.45, and Westpac weakening 1.1 per cent to $33.31. Commonwealth Bank was the best of the big four, adding 0.1 per cent to $87.29. Other blue-chips also fell: BHP sank 0.1 per cent to $28.51, Rio Tinto dipped 0.1 per cent to $55.63 andTelstra gave up 0.8 per cent to finish at $6.29.

Telstra Daily Chart (Source - Thomson Reuters)

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SEEK (EXPENSIVE)

The company recently announced that financial results in H2 FY15 have been affected by issues in SEEK Learning. The company attributed the SEEK’s lower than expected results to one off issues with an IT Systems upgrade undertaken by TAFE NSW. IT issues resulted in errors and significant delays in enrolment process, ultimately leading to incomplete enrolments and very high withdrawal rates. The company also stated that the performance of SEEK learning has been affected by a competitive environment. Company also sated that certain educational reforms will have a negative impact on the future prospects of SEEK Learning. Seek learning is currently in its 11th year of operation and has delivered more than 200,000 enrolments and achieved a record full year result with revenue growth of 43% and EBITDA growth of 88% in FY2013. Seek learning introducing 44 new courses and added 4 new partners in FY 2014. Operational efficiencies of the business have so far delivered strong EBITDA margins. Click Here To Read The Full Report

Seek Domestic + International Numbers (Source - Company Reports)

OZFOREX (BUY)

Full-year results for FY 31 March, 2015

The highlights of the results included an increase of 24% in operating income to $ 90.1 million over the previous year, 22% in pro forma EBITDA to $ 34.5 million and an EPS of 10.11 cents per share up 18% over the previous year. The fully franked final dividend amounted to 3.58 cents per share making a total of 7.08 cents per share for the full year. The strong underlying business is reflected in the operational metrics, strong balance sheet and cash flow conversion and is the result of continued investment in core operations as well as underlying dividend. Click Here To Read Full Report

Financial + Operational Metrics (Source - Company Reports)

Level 13 167 Macquarie Street
Sydney NSW 2000 Australia
E-Mail - [email protected]
Phone - 02 8667 3147

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