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Kalkine Daily 30/06/2015 + Invocare + Computershare

Jul 02, 2015

| Read Time :10 Mins

In today’s daily we have covered stock research on INVOCARE (EXPENSIVE) &COMPUTERSHARE (Expensive).

The S&P 500 was down by 43.85 points or 2.09% to 2057.64 on Monday. U.S. stocks closed down sharply in heavy trading on Monday, adding to a global selloff after a collapse in Greek bailout talks intensified fears that the country could be the first to exit the euro zone. It was equities that were subject to the heaviest selling pressure in Europe, and that is now being echoed in US markets. In the final minutes of trading in New York on Monday, the S&P 500's drop quickened - pushing the index down 2 per cent to 2057.64. The Dow Jones Industrial Average was 1.9 per cent weaker at 17602.23.

After a sharp intensification of the Greek crisis over the last 72 hours, agency Standard & Poor's has weighed in with a rating cut and a prediction. Greece's credit rating has been reduced to 'CCC-' from 'CCC,' by the agency, with the outlook for the country staying at negative.Analysts at the agency also put at 50 per cent the chance of Greece now leaving the euro following prime minister Alexis Tsipras's decision to call a referendum on the last bailout terms offered by the country's creditors.

The stock market is closed in Athens, but for a sense of the anxiety surrounding Greece at the moment, one need look no further than the shares of Greek companies and exchange traded funds in the US. Shares in the Nasdaq-listed Global X Funds, an ETF that seeks to replicate the performance of the FTSE/Athex 20 index, are down more than 15 per cent after Athens imposed capital controls and shut its banks following the government's surprise decision to call a snap referendum next weekend.

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

S&P ASX 200 was down by 123.40 points or 2.3% on Monday and closed at 5422.50 points. The banks and financial stocks were all hard hit, with ANZ crashing 3.1 per cent to $32.07,Commonwealth Bank sinking 2.2 per cent to $84.69, National Australia Bank retreating 2.6 per cent to $33.20 and Westpac giving up 3 per cent to $32.02. A jump in gold prices due to the flight to safety boosted the sector's shares, with Newcrest Mining, up 1.1 per cent to $13.12, among the top percentage gainers on the index. Among other gold miners, Evolution soared 3.9 per cent to $1.20 and Northern Star rocketed 5.4 per cent to $2.33.

Slater and Gordon finished at $3.78 after being walloped 25 per cent – on top of falls of 19.6 per cent from last week – after confirming that the corporate regulator will come to it with questions about its audit relationship with Pitcher Partners. It also admitted an accounting error had been found in its UK business. Bathroom and kitchen fixtures supplier GWA Group was the latest to downgrade its earnings guidance, a week after announcing managing director Peter Crowley would step down from the company.

Northern Star Resources Daily Chart (Source - Thomson Reuters)

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Invocare (EXPENSIVE)

In an announcement on 22^nd May, the company said it would be revising the terms of retirement of former CEO Andrew Smith, about which many stakeholders raised concerns. Other key highlights of the announcement were that the acquisitions of the company have reached an inflexion point, the company registered sound financial performance despite volume challenges and the company will be testing US Markets with the establishment of InvoCare USA.

The company has changed its policy with respect to acquisitions. So far acquisitions have played a great role in the success of the company. The company completed acquisitions in Auckland market last year, which have been integrated in InvoCare’s operations and have started yielding results. Later in 2014 the company acquired businesses in Melton Victoria, which added an outer western suburb location to the network in Victoria. In New Zealand the company remains on track to acquire two memorial parks. The company acquired a business-to-business cremation operation in 2014 to facilitate the provision of cremation services in the relevant markets. Click Here To Read The Full Report

Revenue Trends (Source: Company Reports)

Computershare (Expensive)

The company is a global market leader in transfer agency and share registration, administration of employee equity plans, proxy solicitation and communication with stakeholders. They also have specialist activities in corporate trust, mortgage, bankruptcy, class-action and utility administration as well as a broad range of other diversify services relating to finance and governance. It was founded in 1978 and has a reputation for expertise in high integrity data management, high-volume transaction processing reconciliation and payments and has a customer roster of many leading organisations in the world. With its 15,000 employees, it is present in all the major financial markets. It has grown more than 100 times since its flotation in 1994 and this growth has been largely by acquisition both laterally and geographically. Click Here To Read The Full Report

Financial Highlights (Source - Company Reports)

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

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