What is the latest with these four stocks?

National Australia Bank Ltd

NAB Details
Fall in bad and doubtful debts:National Australia Bank Ltd (ASX: NAB) reported that their first quarterly 2017 profit dropped by 1% while unaudited cash earnings were approximately $1.6 billion. Revenues increased 1% benefiting from growth in lending and higher trading income. Group’s net earning was approximately stable. Due to high personnel costs, overall expenses rose 5%. On the other hand, the charge for bad and doubtful debts for the quarter declined 23% to $164 million. A key driver was the non-repeat of the increase in the collective provision overlay for mining, mining related and agricultural sectors in the September 2016 half year. Group’s common equity Tier 1 ratio was 9.5% at December 2016 as compared to 9.8% on September 2016. The group’s leverage ratio was at 5.4% while quarterly liquidity ratio was at $124. To focus on core banking assets in Australia and New Zealand, the bank has recently divested its poorly performing UK bank, Clydesdale Bank PLC; Great Western Bancorp and most of its insurance business. This would result in improved returns over long run.
 

Financial Results (Source: Company Reports)
 
NAB recently announced a reinvestment offer for new securities, NAB subordinated notes 2. In December 2016, the bank has issued JPY 10 billion subordinated notes. The notes would convert into fully paid ordinary shares of the bank. NAB stock currently trades at an outstanding dividend yield. We maintain a “Buy” recommendation at the current market price of $ 30.87

 
NAB Daily Chart (Source: Thomson Reuters) 

Lepidico Ltd

LPDDetails
Received unsolicited offer:Lepidico Ltd (ASX: LPD) has informed that Lithium Australia NL (ASX: LIT) intends to make an unsolicited conditional offer to buy all of the fully paid ordinary shares in the company for a bid value of $23.8 million. The basis of the offer will be one LIT fully paid ordinary share for every 13.25 fully paid in LPD. However, management has confirmed that it is not in negotiation with Lithium Australia to achieve a merger. Meanwhile, Parkway Minerals has announced that it has reached an agreement with Lithium Australia NL to sell its 97 million Lepidico shares subject to various conditions. Meanwhile, LPD has achieved excellent results reported from Phase 1 L-Max^@ Plant Pre-Feasibility Study over the past months. It has produced the highest specification battery grade lithium carbonate grading of 99.75% using its L-Max^@ technology. Lepidico remains committed to its strategy of leveraging its L-Max^@ technology to become a low-cost producer of lithium and chemical by products. The company has subsequently advanced the PFS for the Phase I L-Max^@ Plant. LPD has also received certification report of innovation patent released in Australia while PCT international application remains in progress. Furthermore, Lepidico Ltd has entered into a Letter of Intent with Avalon advanced Materials Inc. for an integrated lipidolite mining and lithium carbonate production partnership in Canada. Avalon and Lepidico have subsequently entered into a non-binding letter of intent under which it is contemplated that Avalon would sell a minimum of 15,000 tonnes per annum of lepidolite concentrate produced from its planned plant located in Kenora to Lepidico for processing as its planned Phase 1 commercial lithium carbonate production facility. The stock price increased 23% in last five days (as at February 10, 2017). We recommend a “Hold” on the stock at the current market price of $ 0.016

 
LPDDaily Chart (Source: Thomson Reuters) 

Santos Ltd

STO Details
Various initiatives with record performance: Santos Ltd (ASX: STO) finished their share purchase plan (SPP) according to which they got application for approx. $201 million of new fully paid ordinary shares. In December 2016, the company has raised funds under the Institutional placement and the total funds raised under institutional offer and share purchase plan is about $1,241 million. Successful eligible SPP would be issuing new shares at $3.94 per share. The company released its monthly drilling report for January 2017 for three gas developments in which the company holds over 60% share and is also the operator. Santos even highlighted fourth quarter activities for December quarter. The management further commented that the company has restructured the business, removed substantial costs and generated free cash flow for the first time in many years. The production cost per barrel has reduced and is free cash flow positive below $38 per barrel down from $47 per barrel at the start of 2016. Production and sales volumes were at record levels for the company. Meanwhile, Santos reported annual sales volume of 84.1 mmboe, up 31%, while record annual LNG sales volume reached 2.8 million tonnes, representing a rise of 89% due to ramp up of GLNG and strong performance at PNG LNG and Darwin LNG.
 

Performance Highlights (Source: Company Reports)
 
LNG sales revenue was US$887 million for the year. GLNG produced was 4.6 million tonnes of LNG in 2016 and the group shipped about 75 cargoes. However, the upstream unit production cost was US$8.5/boe, which is down by 18% over the prior year. The company incurred capex of US$625 million, down 51% and below its guidance. The company further reduced its debt to US$3.5 billion as at December 2016. Santos also reported gas discoveries in Papua New Guinea. We recommend a “Buy” on the stock at the current market price of $ 3.91

 
STO Daily Chart (Source: Thomson Reuters) 

Sirtex Medical Ltd

SRX Details
Clinical studies planned ahead:Sirtex Medical Ltd (ASX: SRX) has announced that it got draft statement of claim foreshadowing the starting of a representative proceeding against the company in the Federal Court of Australia. The statement of claim alleges breaches by the company of its continuous disclosure obligations and alleged misleading and deceptive conduct arising out of a statement made by the company on August 24, 2016 relating to double digit dose sales growth to continue in FY17. The group is seeking legal advice on the same and has asked for extension of time till February 13, 2017 for a formal response. On the other hand, Sirtex has planned clinical studies in 2017 and a positive outcome may help boost growth and improved funding for the group. The group intends to release its 2017 half yearly results on February 22, 2017. With the ongoing volatility, we give a “Hold” recommendation for the stock at the current market price of $ 14.72

 
SRX Daily Chart (Source: Thomson Reuters)

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