Business

Stocks to watch

March 11, 2010

AGO - ATLAS IRON LTD - up 10 cents at $2.31

AXO - AUROX RESOURCES LTD - up 46.5 cents, 172.22 per cent, at 73.5 cents

Cashed-up miner Atlas Iron is considering another acquisition in addition to its proposed $143 million takeover of junior iron ore explorer Aurox Resources.

ALS - ALESCO CORPORATION LTD - down $1.44, or 31.58 per cent, at $3.12

Shares in Alesco Corporation plunged more than 31 per cent following a downgrade to the building and household products firm's full year earnings forecast.

ALL - ARISTOCRAT LEISURE LTD - up four cents at $4.46

Aristocrat Leisure chairman David Simpson is to leave the company amid three board changes at the gaming machine maker.

BEN - BENDIGO AND ADELAIDE BANK LTD - down 18 cents at $9.76

Bendigo and Adelaide Bank has announced a new issue of residential mortgage backed securities.

CAZ - CAZALY RESOURCES LTD - up two cents at 38.5 cents

Cazaly Resources says its ongoing legal battle for control of the huge Rhodes Ridge iron ore deposit is unaffected by a recent court determination that ousted a mining heavyweight from the project.

MYR - MYER HOLDINGS LTD - down four cents at $3.47

Myer Holdings, which releases first half results on Thursday, is likely to have driven first half profit growth on cost reductions and higher margins, analysts say.

ORI - ORICA LTD - up 30 cents at $25.31

Orica said it may suffer a $192 million hit to its profit should it choose not to appeal a Federal Court decision that will make it pay more tax over the sale of Orica's pharmaceuticals business in 1998.

MAH - MACMAHON HOLDINGS LTD - in trading halt, last traded at 75 cents

The shares of Macmahon Holdings have been placed in a trading halt as the engineering firm enters the final negotiations for a contract.

PRY - PRIMARY HEALTH CARE LTD - up seven cents at $4.12

Primary Health Care has launched legal action against Australian General Practitioners Network to prevent it from using Primary Health Care as a trading name.

SEK - SEEK LTD - up six cents at $7.61

Online jobs agency Seek has increased its presence in Asia after paying $23.5 million to more than double its stake in a Malaysia-based jobs website.

AAP