Daily FNArena News - Australia

Australia remains the key source of business for education provider Navitas but brokers expect weakness in the US and UK will stymie growth.

A summary of the previous session’s corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

Robust production outcomes for Origin Energy in the June quarter were driven by a record performance at APLNG. Gas production at Otway Basin also exceeded expectations.

Strength in its land & development portfolio has caused Brickworks to substantially upgrade net profit guidance in FY17 but the company also expects operating earnings in building products to be lower.

Exploration success has become increasingly important to Sandfire Resources and several brokers downgrade the stock in the face of investor caution.

Fortescue Metals beat expectations on iron ore production and sales in the June quarter but what really flummoxed brokers were record low costs. And there’s more.

Automotive parts business Bapcor has quantified the expected synergies from the acquisition of New Zealand’s Hellaby Holdings and surprised on the upside.

Brokers welcome Super Retail’s intention to convert all the Amart Sports stores to the Rebel brand, creating a leaner division that will face the growing competition.

Newcrest Mining is emerging from the disruption caused by a seismic event at its Cadia copper/gold mine. Brokers assess the outlook and growth options for the miner.

Mineral sands miner Iluka Resources posted a strong beat on production and sales in the June quarter but brokers disagree over valuation.