Did you catch these major events in the market last week?

Credit: kilmousk

Can you taste it, Foolish readers? We’re very close to Christmas. For myself and the other Foolish contributors at it’s a precious break from looking at shares 9-5.

For many of our readers, it’s likely the first chance you get to really sit down and have a look at the details of your portfolio and the companies in it. Here are some of the latest company updates for you to consider:

Slater & Gordon Limited (ASX: SGH) shares are back in the news for all the wrong reasons, after the company announced there was a significant chance it would not meet its previous guidance announced at the end of November. Unsurprisingly, shares lost 20% for the week.

Primary Health Care Limited (ASX: PRY) was also pummelled on the back of changes to diagnostic imaging announced in the government’s MYEFO update. Primary shares lost 23% last week and the company has yet to quantify the expected impact on its earnings over the next few years, which understandably has investors nervous.

Competitors Sonic Healthcare Limited (ASX: SHL) and Capitol Health Ltd (ASX: CAJ) also lost 9% and 23%, respectively, during the week as a result of the news.

The so called ‘dairy boom’ continues, with investors piling into A2 MILK FPO NZ (ASX: A2M) in the hope that it could be the next Bellamy’s Australia Ltd (ASX: BAL). A2 announced another profit upgrade during the week as a result of higher than expected sales of baby formula, and shares in would-be competitors Blackmores Limited (ASX: BKL) and Bega Cheese Ltd (ASX: BGA) also rose on the news.

A2 shares ended the week up 35%.

Elsewhere, shares in Flight Centre Travel Group Ltd (ASX: FLT) rose after the group announced an earnings-accretive acquisition of a travel agency in the US. The acquisition will be paid for through company cash and will fast-track Flight Centre’s expansion in one of its biggest potential markets.

Greencross Limited (ASX: GXL) also soared more than 30% after it was reported in Fairfax media that private equity as well as publicly listed EBOS Group Ltd (ASX: EBO) were interested in acquiring the company. Although no takeover offer has been made, I believe that prices will have to go higher in order to successfully buy out the company, which I believe to be worth more than $7 per share.

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Motley Fool contributor Sean O'Neill owns shares of Flight Centre Travel Group Limited and Greencross Limited. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia owns shares of Bellamy's Australia. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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