Daily FNArena News - Australia

Southern Cross Equities suggests recent heavy trading in ResMed indicates the market sees possible upside earnings surprise from the upcoming September quarter results.

Austock Securities has retained its Buy rating on Warrnambool Cheese and Butter as while earnings could halve this year given the drought, there is upside when weather conditions return to normal.

Brokers have reacted to a better than expected profit result from ANZ by lifting earnings forecasts, though consensus suggests there is limited upside from current levels.

ERA has extended the forecast life of its Ranger uranium mine by six years, just at the right time.

Roc Oil’s quarterly production report fell short of market forecasts but brokers have retained their largely neutral view on the stock given the upside potential from upcoming exploration.

A profit warning by a smaller competitor has kept the pressure on Amcor’s share price.

SMS Management & Technology management has confirmed the new year has started strongly, leading to brokers revising earnings forecasts.

With its acquisition of Martabe, Agincourt vaults from a struggling gold junior into the big league. Deutsche sees a great opportunity for early birds.

Iluka’s quarterly production report revealed earnings are likely to be at the lower end of previous guidance, but exploration upside and takeover potential have ensured brokers remain generally positive.

Our sources in London tell us rumours are that HBOS is studying a bid for Suncorp-Metway.