The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) could come under fire today following a heavy fall on Wall Street on Friday. As it stands, the futures market is pointing to a 65-point decline – or roughly 1%.
Here’s a quick recap:
- FTSE 100 (UK): down 0.63%
- DAX (Germany): down 1.68%
- CAC 40 (France): down 1.64%
- Dow Jones (USA): down 2.54%
- NASDAQ (USA): down 1.96%
The NZME LTD FPO NZX (ASX: NZM) (or NZME) and Fairfax Media Limited (ASX: FXJ) share prices could receive some attention today. The pair (along with Stuff Limited) confirmed they will apply for leave to appeal the High Court decision upholding the New Zealand Commerce Commission’s decision not to clear or authorise the proposed merger of the two businesses. In an announcement, the company said:
“Given the potentially significant benefits from the merger, NZME is of the view that appealing the High Court decision is in the best interests of NZME, its shareholders and consumers.”
The Bubs Australia Ltd (ASX: BUB) share price could also receive attention. The company said all three stages of its goat milk infant formula will be ranged in Woolworths supermarkets, increasing the availability of the products.
And Rhipe Ltd (ASX: RHP) has released its half-year results. Revenue for the half rose 22% compared to the prior corresponding period while operating expenses grew just 7%. Combined, that contributed to an increase of more than 300% in operating earnings (EBITDA) to $2.8 million.
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Motley Fool contributor Ryan Newman has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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