My Share Trading Newsdesk

Hastings Diversified Utilities Fund (HDF) has released its target statement today rejecting the takeover offer that it has received from rival APA Group in mid-December. The company board is recommending its investors to reject the offer as it undervalues the company. read more

Nexus Energy (NXS) rejects the talks that it had given up control of its Crux liquefied natural gas (LNG) field after it handed 80 per cent of its ownership to petroleum giant Royal Dutch Shell for no cash cost last Tuesday. Shell, who is now in control to develop and operate the project, intends to pipe gas from Crux to a Prelude floating liquified natural gas vessel in Western Australia's Browse Basin. read more

Woodside Petroleum (WPL) oil and gas full year production may have fallen 11 per cent compared to the previous corresponding period, but it has exceeded the company's full-year production guidance. The company's 64.6 million barrels of oil equivalent (MMboe) for its full year production had beaten its previous forecast of 62-64 MMboe. read more

Australian energy firm Santos (STO) has reported a 9 per cent fall in production for the three months to December compared to the previous year but says that its full year production is still within its guidance. Santos produced 11.7 million barrels of oil equivalent (mmboe) in the last quarter of 2011, giving the energy firm a full year production of 47.2 mmboe, 5 per cent down compared to 2010. read more

Anglo-Australian company BHP Billiton (BHP) expects to exceed its iron ore production guidance of 159 million tonnes after its first half production increased by 23 per cent. BHP produced 41,072 million tonnes of iron ore in the second quarter, which is four per cent higher than the first three months of the the fiscal year. The iron ore production of the company increased 23 per cent to 80,644 million tonnes for the first half compared to the previous corresponding period. read more

Australian company Wesfarmers (WES) is expecting a 74 per cent fall in the first half earnings of its insurance division due to the natural disasters that hit Australia. read more

South African miner Exxaro is on its move to takeover African Iron (AKI) after the ASX-listed company's major shareholder Cape Lambert Resources (CFE) accepted the offer of the bidder. read more

OM Holdings (OMH) shares slipped 6.17 per cent to 38 cents on early trade today after the manganese miner reported that it is expecting a $12 million loss for the 2011 calendar. The miner blames high Australian dollar and one-off costs for the loss in the previous year. read more

Linc Energy (LNC) received a speeding ticket from the Australian Securities Exchange (ASX) as its shares soared 25 per cent on Friday amid speculations circulated that the company has found a buyer for its Teresa coal settlement in Queensland. However, the Brisbane-based company denies the speculations and says that it has no explanation for the increase in its share price. read more

Leighton Holdings (LEI) shares jumped as high as 4 per cent or 82 cents to $21.35 in trading this morning after the Australian contractor upgrades its profit guidance for the first half. This is a result from the improved earnings that its Australian and Asian operations incurred. read more

Oil and gas company Santos (STO) has confirmed that it will develop the Fletcher Finucane oil project in Carnarvon Basin off the northwest coast of Western Australia worth $490 million. Santos will contribute $236 million of the capital expenditure of the project as its venture participants Kufpec Australia and JX Nippol Oil and Gas will share for the remaining costs. read more

QBE Insurance Group (QBE) is starting the year on a rough phase as it announces the 40-50 per cent decline in profit and 62 per cent in dividend, causing its shareprice to drop to an eight-year low. This follows yesterday's bad news regarding the involvement of the insurance company's subsidiary Balboa in a pricing probe in the US. read more

Shares of Australian insurance company QBE Insurance Group (QBE) are now on a trading halt after news circulated that its recently bought Balboa mortgage insurance subsidiary in the United States is being investigated by US regulators. read more

The full year revenue of Iluka Resources (ILU) has spiked up by 75.7 per cent to $1.536 billion compared to its previous year, the mineral sands producer reported today. This was recorded after its revenue for the three months to December rose by 53 per cent to $434 million. read more

Shares of Australian-listed company African Iron (AKI) climbed by 14 cents or 35 per cent to 54 cents after it announced that it signed a Takeover Bid Implementation Agreement (TBIA) with South African miner Exxaro Resources for a takeover for all of African Iron's shares. read more

Spotless Group (SPT) shareholders are close to calling an extraordinary general meeting and oust its board after bidder Pacific Equity Partners (PEP) disagreed to raise its bid to $2.80 without access to due-digiligence, as suggested by the facilities and services company. read more

Following its curtailment announcement last week, largest US aluminum producer Alcoa Inc. (AAI) reported that it has incurred a $US191 million net loss for the fourth quarter or 18 US cents a share due to falling aluminum price and high production cost. read more

Shares of clothing manufacturer Pacific Brands ( PBG) jumped to as much as 11 cents or 20 per cent to 67 cents in early trade after the company confirmed that it has received an unsolicited approach from US private quity giant KKR to buy the company. "The board of Pacific Brands, together with its advisers Flagstaff Partners and Minter Ellison, is considering the approach and preliminary discussions are being held with KKR," said Pacific Brands. read more

Industrial services company Spotless Group (SPT) is suggesting for a higher takeover price as it requests its bidder Pacific Equity Partners (PEP) to raise its offer to $2.80 a share from its previous $2.68 offer last December. This will increase the company's value from $711 million to $743 million. read more

Mining giant Rio Tinto (RIO) is planning to sweep up the shares of Canadian uranium company Hathor Exploration as it acquires 93.76 per cent of the latter's shares. Rio Tinto currently owns 119.5 million Hathor common shares. The mining giant offered a $C654 million takeover last year to the Canadian company, paying $C4.70 per outstanding common share. On December 22, Rio Tinto extended its offer until January 6, 2012 after it acquired 87.26 per cent of Hathor's shares. read more