Daily FNArena News - Australia

Sleep apnoea revenue partly offset weaker software-as-a-service revenue in the March quarter for ResMed, which is gaining share from the strong uptake of new products.

National Australia Bank has reduced its dividend pay-out in the first half, largely as expected, although a capital raising came as somewhat of a surprise to brokers.

Packaging business Orora is reviewing its cost structures after a slow start to 2019, although brokers consider the business well-placed in a softening economy.

Brokers suspect depressed real estate listings are likely to confront Domain for some time and several have moved their ratings to the sidelines as a result.

After record nickel production in the March quarter, brokers are looking for exploration success to extend and add value to Independence Group’s Nova mine.

The current environment in bond markets is supporting Transurban and brokers do not envisage any change in status in the near term.

Supermarket sales growth for Coles is expected to decelerate in the next couple of quarters as gains from its collectables campaign lose momentum.

Flight Centre has cut pre-tax profit guidance for FY19 for the third time and broker opinions diverge regarding the longevity of the contributing factors.

Gold miner Northern Star Resources had a less-than-stellar March quarter, largely because of delays to the arrival of new mining equipment at Pogo.

The high-grade Monty copper-gold mine has made its first contribution to Sandfire Resources’ production in the March quarter but exploration remains critical to the medium-term outlook.