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Wesfarmers

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Reuters - 2 weeks ago

Australian pharma firm Genetic Signatures gains as Bell Potter lifts PT

BUZZ-Australian pharma firm Genetic Signatures gains as Bell Potter lifts PT ** Shares of Australia's Genetic Signatures GSS.AX rise as much as 6.2% to A$0.78, their highest since early June ** Analysts at Bell Potter raise PT on the pharmaceutical company to A$1.1 from A$0.75; keep stock rating at "Buy" ** Brokerage says FY25 set to be positive ye
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Reuters - 3 weeks ago

Sticky inflation restricts 1H gains for Aussie staple consumer firms

BUZZ-Sticky inflation restricts 1H gains for Aussie staple consumer firms ** Australian staple consumer stocks .AXSJ on track to gain a meagre 1% in 1H24, underperforming the broader benchmark index .AXJO ** Top Aussie supermarket chain Woolworths Group WOW.AX has lost 9.6% in 1H24, eyeing its worst half-year since 2016 ** Sticky inflation across the spectrum has meant consumers are cutting down on spending ** Westpac senior economist says pessimism prevails among consumers and high inflation ha
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Reuters - 1 month ago

Australia's IDT gains on progress in deal talks

BUZZ-Australia's IDT gains on progress in deal talks ** Shares of IDT Australia IDT.AX up 4% at A$0.13 ** The Australian pharma manufacturer says Myndbio Pty Ltd has been granted access to due diligence information to progress discussions for proposed takeover ** Adds talks with Myndbio for proposed A$0.15 per IDT share takeover continue ** Stock o
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Reuters - 2 months ago

Wesfarmers Says WesCEF Sells LPG And LNG Distribution Businesses

BRIEF-Wesfarmers Says WesCEF Sells LPG And LNG Distribution Businesses May 30 (Reuters) - Wesfarmers Ltd WES.AX : SELLS LPG AND LNG DISTRIBUTION BUSINESSES WESCEF SELLS LPG AND LNG DISTRIBUTION BUSINESSES AGREED TO SELL ITS LPG DISTRIBUTION AND ITS LNG DISTRIBUTION BUSINESSES TO SUPAGAS AND CLEAN ENERGY FUELS AUSTRALIA, RESPECTIVELY EXCLUDED FROM D
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Reuters - 2 months ago

Australia's Wesfarmers to sell LPG, LNG distribution businesses

UPDATE 1-Australia's Wesfarmers to sell LPG, LNG distribution businesses Adds details, background May 30 (Reuters) - Wesfarmers WES.AX will sell its liquefied petroleum gas (LPG) and liquefied natural gas (LNG) distribution businesses to Supagas and Clean Energy Fuels Australia respectively for an undisclosed sum, the conglomerate said on Thursday.
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Reuters - 2 months ago

Australia's Wesfarmers to sell LPG and LNG distribution businesses

Australia's Wesfarmers to sell LPG and LNG distribution businesses May 30 (Reuters) - Wesfarmers' WES.AX chemicals, energy and fertilisers segment will sell its liquefied petroleum gas and liquefied natural gas distribution businesses, Australia's biggest listed retail conglomerate said on Thursday. Reporting by John Biju in Bengaluru; Editing by R
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Reuters - 2 months ago

Rate-sensitive banking, property, tech stocks weigh on Australian shares

Rate-sensitive banking, property, tech stocks weigh on Australian shares Benchmark index ends lower tracking Wall Street losses Banks, property and tech stocks top drags Wesfarmers ends lower after Morgan Stanley downgrade By Sherin Sunny May 24 (Reuters) - Australian shares ended lower on Friday after a broad-based sell-off on Wall Street overnight as investors pared back bets of U.S.
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Reuters - 2 months ago

Australia's Wesfarmers falls as Morgan Stanley downgrades to 'underweight'

BUZZ-Australia's Wesfarmers falls as Morgan Stanley downgrades to 'underweight' Adds share moves in bullets 1-2 ** Shares of Wesfarmers WES.AX down as much as 3.65% to A$63.89, their lowest level since April 19 ** Co on track for its worst day since Nov 3, 2022, if losses hold ** Analysts at Morgan Stanley downgrade the Australian conglomerate to "
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Reuters - 2 months ago

Morgan Stanley downgrades Australia's Wesfarmers to 'underweight'

BUZZ-Morgan Stanley downgrades Australia's Wesfarmers to 'underweight' ** Analysts at Morgan Stanley downgrade Australian conglomerate Wesfarmers WES.AX to "Underweight" from "Equal-weight" ** Says downgrade due to limited avenues for earnings upgrades, peak multiples, and cautious stance on domestic consumer ** With global and domestic peers de-ra
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Reuters - 3 months ago

Wesfarmers says breaking up business would be detrimental to Australia

Wesfarmers says breaking up business would be detrimental to Australia SYDNEY, May 7 (Reuters) - Australia's Wesfarmers WES.AX said on Tuesday any move to break up its budget department store chain Kmart, hardware business Bunnings and chemicals maker WesCEF would drive up prices and put Australian businesses at a global disadvantage. An Australian senate inquiry is considering whether to introduce laws making it easier for the competition regulator to make large retailers sell assets.
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Reuters - 3 months ago

Australia's Wesfarmers at record high after Macquarie's PT, earnings outlook upgrade

BUZZ-Australia's Wesfarmers at record high after Macquarie's PT, earnings outlook upgrade ** Shares of Australia's Wesfarmers WES.AX rise as much as 1.3% to a record high of A$69.18 ** Analysts at Macquarie raise PT by 5% to A$64.60 on the conglomerate ** Says co's hardware chain Bunnings reflects growth prospects on the back of recent expansions *
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Reuters - 3 months ago

Wesfarmers gain as brokerages show 'positive bias' amid growth prospects

BUZZ-Wesfarmers gain as brokerages show 'positive bias' amid growth prospects Updates ** Shares of Australia's Wesfarmers WES.AX rise as much as 1.5% to A$67.455, their highest since April 10 ** Analysts at Jarden note that the conglomerate sees growth across its various businesses on the back of expansion strategies and operational efficiencies **
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Reuters - 3 months ago

Wesfarmers' emphasis on customer value, long term returns is delivering, Jefferies says

BUZZ-Wesfarmers' emphasis on customer value, long term returns is delivering, Jefferies says ** Analysts at Jefferies say Australia's Wesfarmers' WES.AX focus on customer value and long-term returns is delivering despite challenging macro-economic conditions ** Maintains "hold" on stock despite a stretched valuation' has PT of A$60 ** Brokerage say
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Reuters - 3 months ago

Wesfarmers Says WesCEF Managing Director Retirement And Appointment

BRIEF-Wesfarmers Says WesCEF Managing Director Retirement And Appointment May 2 (Reuters) - Wesfarmers Ltd WES.AX : WESCEF MANAGING DIRECTOR RETIREMENT AND APPOINTMENT IAN HANSEN, MANAGING DIRECTOR OF WESFARMERS CHEMICALS, ENERGY AND FERTILISERS ADVISED OF HIS INTENTION TO RETIRE AARON HOOD WILL SUCCEED IAN HANSEN AS MANAGING DIRECTOR OF WESCEF IAN
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Reuters - 3 months ago

Ramsay Health Care jumps 5% after report of Wesfarmers' takeover interest

BUZZ-Ramsay Health Care jumps 5% after report of Wesfarmers' takeover interest ** Shares of Australian hospital operator Ramsay Health Care RHC.AX rise as much as 5.2% to A$53.720, biggest intraday pct jump since Feb. 29 ** RHC trading 3.7% higher at A$52.98, as at 0219 GMT ** Wesfarmers WES.AX could be considering buying RHC's Australian business
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