Daily FNArena News - Australia

With the CBA quarterly update now in following the other three majors’ full-year results previously, we can draw final conclusions on this quarter’s sector results.

Suncorp-Metway’s first quarter trading update has failed to excite the market and broker opinions on the stock remain mixed.

Market strategists and analysts at leading stockbrokerages have been making some changes.

November’s rate rise was still a close run thing, but the RBA’s “forward-looking” stance provided the need for a preemptive strike.

Incitec Pivot beat market expectations with its FY10 profit result. Positive momentum in fertiliser markets plus improving seasonal conditions suggest further upgrades are possible.

Seek has shocked the market with a surprise profit downgrade to its education divisions but not all brokers see a problem.

Myer may have disappointed the market with its quarterly sales result but stockbrokers continue to see upside in the stock at current levels.

Bluescope’s guidance downgrade has sparked some major earnings forecast downgrades from analysts but they just can’t get past the stock’s longer term value.

HeartWare is developing a device for treating heart failure and Southern Cross Equities rates the stock as a Speculative Buy.

Market consensus is projecting continued strong growth ahead for TPG Telecom, but stockbroker Moelis warns this might be too optimistic.