Stocks of the Hour: Pushpay, Imugene & Rio Tinto

Pushpay (ASX:PPH) has reconfirmed and narrowed its previous guidance for the year ending March 31. The company’s guidance for the period represents an increase in underlying earnings before interest, tax, depreciation, amortisation, foreign currency and impairments (EBITDAFI) of between 6 and 10 per cent when compared to the previous financial year. Shares are trading 5.2 per cent higher at $1.02.

Imugene (ASX:IMU) has announced a new clinical trial collaboration and supply agreement with MSD, a trade name for the US pharmaceutical company Merck & Co. The agreement aims to evaluate the safety and efficiency of Imugene’s HER-Vaxx for patients with gastric cancer. Shares are trading flat at 25 cents.

Last night, Rio Tinto (ASX:RIO) announced a non-binding proposal to acquire the remaining 49 per cent stake in Turquoise Hill, which it does not already own. Under the proposal, Turquoise shareholders would receive $34 per share, valuing the company’s share capital to around US$2.7 billion. Shares are trading 4.4 per cent lower at $106.24.
 
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Source: Finance News Network