Myer Holdings Ltd

MYR Details
·         Responded to recent share trading and media speculation:Myer Holdings Ltd (ASX: MYR) stock fell 5.2% on March 28, 2017, after the company responded to recent share trading and the media speculation. MYR noted about the high turnover of shares and media speculation on potential corporate activity involving the company. MYR has clarified that it has not received any communication with regards to the above. On the other hand, The Goldman Sachs Group has reduced its holding in the group from 6.84% voting power to 5.52% for ordinary fully paid shares.
 
·         Recommendation: MYR stock rose 5.9% in the last six months (as of March 27, 2017), but currently trading at a high level. Rising competition and performance pressure remain to be of some concern. We give an “Expensive” recommendation at the current price of – $ 1.19

OrotonGroup Ltd

ORL Details
·         Weak 1H 2017 results and no dividend for the first half: OrotonGroup Ltd (ASX: ORL) stock fell over 1.9% on March 28, 2017 after the company announced the 1H 2017 results. ORL in the 1H 2017 reported a 10% fall in the overall group revenue to $67.1m mainly due to the exit of discontinued categories and lower Factory Outlet sales in Oroton and a decrease in GAP sales. Group like for like (LFL) Sales excluding discontinued categories had slipped 8%. ORL has planned a strategic investment of approximately 30% in complementary, fast growing, online lifestyle accessories business, The Daily Edited, for $4.5m with the ability to raise its interest to a majority stake in future periods. ORL has determined not to declare a dividend for the half and will allocate and preserve capital for the growth initiative.
 
·         Recommendation: ORL stock fell 33.76% in the last six months (as of March 27, 2017), and we believe this pressure in the stock would continue in the coming months. We give an “Expensive” recommendation on the stock at the current price of – $ 1.54
 

1H 17 Financial Performance (Source: Company Reports)

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