10 shares to watch on the ASX next week

The local stock market heads into another week of Annual General Meetings next week with several prominent companies expected to provide updates, while others may remain in the news for the right or wrong reasons.

Below I have 10 businesses to potentially move the market next week.

  1. Sirtex Medical Limited (ASX: SRX) is due to provide a two-hour research and development briefing tomorrow morning. The briefing will include information on its pre-clinical research and development activities across four technology platforms. The key commercial and strategic considerations around these potential new platforms will also be presented.
  2. Mayne Pharma Group Ltd (ASX: MYX) is due to hold its AGM on November 29. Shares in the pharmaceutical business have been volatile after it revealed the U.S. Department of Justice has subpoenaed it to provide information over its pricing for drugs sold in the U.S. market.
  3. Northern Star Resources Ltd (ASX: NST) is due to hold its AGM on November 29. As one of Australia’s leading gold miners investors will be keen to hear any updates as to how its margins are holding up in the wake of the falling gold price subsequent to the victory of U.S. President-elect Donald Trump. If the U.S. Fed starts to raise cash rates faster-than-expected the gold price could come under more pressure in 2017.
  4. TPG Telecom Ltd (ASX: TPM) is competing with a budget internet startup named MyRepublic in Singapore for the right to provide a mobile network across the island state. Notably, MyRepublic is now a budget internet competitor of TPG in Australia so TPG’s move into Singapore may be as much strategic (in attacking a loss-making competitor) as commercial. The telco may provide an update on its success in the Singapore auction sometime next week and has the financial firepower to win the auction if it chooses.
  5. Santos Ltd (ASX: STO) is one of a number of energy shares that may be volatile with OPEC due to meet in Vienna on November 30 to potentially agree on a deal to cut the group’s total monthly oil output. If OPEC agrees to a substantial cut and investors assign it credibility, Santos and energy price linked peers like Woodside and Oil Search are likely to enjoy a strong week. However, I expect oil prices will stay on a downward trajectory over the next to 3-5 years as new supply soaks up demand.
  6. Catapult Group Ltd (ASX: CAT) is the high-flying wearable sports equipment business due to hold its AGM on November 30. Its sports-bra type wearable equipment to monitor athletes’ performance has the potential to transform professional sport and investors will await any trading update.
  7. Bank of Queensland Limited (ASX: BOQ) is due to hold its AGM on November 30 and investors will be keen to gain any insights as to how its net interest margin is holding up in the face of the competitive lending environment. Moreover, the group, like its peers, also faces uncertainty over the next phase of banking industry regulation.
  8. Retail Food Group Limited (ASX: RFG) is the fast food franchisor due to hold an AGM on November 30 where it may provide a trading update. It has overseas expansion plans and a coffee roasting and distribution business that is performing strongly with a decent outlook.
  9. Crown Resorts Ltd (ASX: CWN) remains in trouble with 18 of its employees in China recently detained having been reportedly accused of “gambling crimes”. If Crown’s employees are charged with crimes it may heap more pressure on the share price as its outlook worsens on the prospect of plunging revenues as high-rolling Chinese clients disappear.
  10. Bapcor Ltd (ASX: BAP) is the motor-car parts business that is attempting to take over New Zealand-based rival Hellaby Holdings. However, Hellaby has advised its shareholders to reject Bapcor’s takeover offer on the basis that it undervalues the company. The uncertainty around the offer has taken its toll on Bapcor’s share price, with the stock down 7% over the last two weeks. How this story unfolds will be important to the short-term futures of both companies.

Big, Fat, Dividends

This company's dividend is almost the stuff of legends. Its reliable cash flows support a high payout ratio, and the company's stash of franking credits are the cherry on the top of the dividend cake. Based on the last 12-months of dividends, shares are offering a fully-franked 6.5% yield, which grosses up to a whopping 9.3%, when those franking credits are included.

Discover out the name of this blue chip share along with 2 others in our new FREE report "The Motley Fool's Top 3 Blue Chips Stocks For 2017."

Click here to receive your copy.

Motley Fool contributor Tom Richardson owns shares of Bapcor, Retail Food Group Limited, Sirtex Medical Limited, TPG Telecom Limited.

You can find him on Twitter @tommyr345

The Motley Fool Australia owns shares of Bapcor and Retail Food Group Limited. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.