Daily FNArena News - Australia

One broker believes Woolworths’ move into hardware will only result in destruction of shareholder value.

Merrills initiates coverage on Bradken with a Buy rating, seeing good value at current levels given a solid earnings growth outlook.

Brokers see a Nufarm takeover by Sinochem as a longwinded process.

Morgan Stanley has initiated on Karoon Gas with a Buy rating.

Hopes are increasing that the global recovery will take the shape of a V, but if any region’s likely to have a little W shaped hiccup it might be Europe.

A private equity group has withdrawn it previous expression of interest in Emeco but this is not necessarily a negative.

From eight Sell ratings in the FNArena broker universe and one Hold, Fortescue Metals has suddenly scored an upgrade to Buy.

Major shareholder CanWest has sold out of Ten Network. Good news?

While David Jones beat expectations with its full year profit result most brokers covering the stock see little value in the shares at current levels.

Retail group Premier Investments delivered a solid full year result and brokers have responded by lifting earnings forecasts.