Daily FNArena News - Australia

Confidence in Sims Metal has taken a hit, brokers suggest, after the company downgraded guidance for first quarter earnings less than a month after reiterating it at investor briefings.

Market fundamentals remain strong for Brickworks but tighter credit has emerged to dent the housing outlook, particularly in NSW and Queensland.

Smiggle continues to lead the brand portfolio of Premier Investments and the company has renewed its focus on online and new markets.

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

The Commonwealth government is proposing an inquiry into the Australian aged care sector and brokers suspect that prospect, and negative media coverage, will impact on listed stocks.

The main risks going forward for TPG Telecom are the erosion of margins as the NBN roll-out completes. Brokers suggest the company will need to rely heavily on mobile revenue.

Brokers suggest Fonterra needs to start delivering on earnings expectations to rebuild confidence, while the strategic review is welcomed as an opportunity to simplify the business.

Contributions from all levels of government are finding their way to large infrastructure projects and analysts at ANZ Bank suggest construction activity and demand for workers and materials is slowly heating up.

Taking the Quadrant Energy sale into calculations, brokers revise up earnings estimates for Macquarie Group, despite the usual “broadly in line” guidance.

Incitec Pivot is confident in the FY19 outlook for fertiliser prices while demand for explosives in quarry & construction is robust.