Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Friday. Rask Media has your financial news headlines sorted.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 70.81 US cents
Dow Jones (DJI): down 2.4%
Oil (WTI): $US66.98 per barrel
Gold: $US1,234 per ounce
Finance News Today
In overseas markets, the USA’s Dow Jones snapped back from Wednesday’s losses when it lost more than 2%. Making headlines, social media platform Twitter Inc (NYSE: TWTR) bounced 15% after beating profit expectations, despite reporting a fall in monthly users to the tune of nine million.
“They’re able to demonstrate that there can be a separation of revenue and user growth,” Pivotal Research Group analyst Brian Wieser was quoted saying by Financial Times.
Closer to home, companies continue to update investors during their Annual General Meetings (AGMs).
Annuities company Challenger Ltd (ASX: CGF) announced the resignation of CEO Brian Benari to make way for Richard Howes.
“Brian has led Challenger through an immensely successful period of growth, establishing the company as the clear leader in retirement incomes and developing one of the fastest growing active fund managers in the country,” Challenger Chair Peter Polson said.
Read more here: Challenger Appoints Howes As CEO
Shares of fashion and design platform Redbubble Ltd (ASX: RBL) entered a trading halt as it seeks to undertake a capital raising via an institutional placement and entitlement offer. (click here to learn what a capital raising is)
Medical device business ResMed Inc. (ASX: RMD) released its first quarter results for its 2019 financial year.
“Our first quarter 2019 results demonstrate continued strong performance across our business with 13 percent topline revenue growth, driven by growth across our entire portfolio of offerings,” ResMed CEO Mick Farrell said.
ResMed’s quarterly net profit rose 23% with earnings per share rising to $0.73.
“During the quarter we expanded our product portfolio with new masks and made ongoing upgrades to our digital health solutions, separating ResMed from the competition,” Farrell added.
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