Morning Report Friday 15 August 2014
Four more stocks that rallied hard after reporting, plus one nice consequence
Yesterday saw a clear positive lift for the market from major companies reporting, with 3 immediate strong gains and one a day after. The 3 companies below who reported yesterday all exceeded expectations, leading to decent gains for the stocks, adding over 10 points to the ASX200’s advance.
Crown Resorts (CWN) – yields 2.4% partly franked – A stronger than expected result, especially from Crown in Melbourne. I remain neutral the stock here. Overall, I am unsure how Macau will evolve going forward.
CSL Ltd (CSL) – yields 1.8% unfranked – The market embraced the result 24 hours after reporting, with two major analysts upgrading the stock. I have been waiting patiently to buy under $60 which looked likely last Friday, now over $6 higher it may have been a missed opportunity. From a risk / reward basis I have to stay on the sidelines.
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