Southern Cross Media Group Ltd

SXL Details
· Pressure in core market: Southern Cross Media Group Ltd (ASX: SXL) stock fell over 4.8% on November 08, 2016 leading to a total stock fall of about 11.5% in the last four weeks. We believe the pressure in the stock would continue given the ongoing pressure in the TV FTA market. SXL stock surged over 17.6% in the last three months driven by their five year television affiliation agreement with the Nine Network covering regional Queensland, southern New South Wales and regional Victoria. SXL is also building long term relationships with the Ten and Seven Networks in other regional markets, especially in northern New South Wales and Tasmania.

· Recommendation: Despite the ongoing efforts, we believe the stock would continue to decline given their core market pressure while we maintain “Expensive” recommendation at the current price of $ 1.37

Macquarie Group Ltd

MQG Details
· Dividend payout: Macquarie Group Ltd (ASX: MQG) stock fell over 2.5% on November 08, 2016 as the group traded ex-dividend. The group has been granted a relief from the section 259C of the Corporations Act 2001 relating of acquisition of shares. Standard and Poor's (S&P) have recently affirmed the rating and changed the outlook from stable to negative for MQG as the economic risks to financial institutions operating in Australia are rising leading to higher private sector debt and residential property prices in the last four years.

· Recommendation: The conditions could further impact the stock sentiment and accordingly we give an “Expensive” recommendation on the stock at the current price of $ 77.39


S&P’s rating and outlook (Source: Company Reports)

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