http://www.smh.com.au/business/buyup-revelation-lights-iinets-share-fuse-20111018-1lyo9.html
I know a lot of you are not in Australia but perhaps they may be a reflection of their industry worldwide.
I'll provide a bit of background here.
Pharmaxis - $3.00 stock crashed to 1/3 to less than $1.00. One of its promising drugs for the lungs and respiratory system was in Stage III and got knocked back in the trial for some technical reasons. It was not that the drug has failed. Details are a bit murky - but it may still hold promise. As in all biotechs, this is speculative.
Iinet - Internet Provider. At one point was in deep financial situation. Parts of it shares was bought up by smaller rivals a few years ago. Now there seems to be more shareholding rebalancing as small rivals consolidate their holdings. More action to come maybe.
CSR - is an established Aussie company that recently divested its sugar division with a handsome capital return. Although the building industry is not crash hot, more buildings are needed. And there may be more corporate action to come.
Ten - Aussie TV channel. Not impressive. Nothing that special as a business. Entertainment at risk from new medium. As a television viewer, this channel is not that great anyway, its lack of respect for viewers is shown by simply cancelling certain TV shows in the middle of the season. Don't think it is that popular among viewers.
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