The ASX was flat today, rising by a mere .2pts. Investors were cautious as they awaited the highly anticipated Fed meeting. The market retreated in the morning, but managed to recover in the afternoon. As deflation threats and low growth cause interest rates to be cut globally, the US is considering a possible interest rate hike. This decision has been weighing on international markets because an interest rate hike in the US will likely send ripples throughout the U.S. market and potentially the global economy.
Sirtex Medical Limited (ASX:SRX) is up $3.37, or 19.24 per cent, at $20.09 per share. Sirtex plummeted over 50 per cent in the previous trading day after announcing its highly anticipated clinical trial failed to reach primary goals.
Fortescue Metals Group Limited (ASX:FMG) is down 11c, or 5.59 per cent, at $1.86 per share. Fortescue has been struggling to find ways to refinance its debt. The company withdrew its Senior Secured Note offering one month after it announced the deal.
Orica Limited (ASX:ORI) is down $1.00, or 5.21 per cent, at $18.21 per share. Orica announced that their chief executive Ian Smith would be stepping down. Although Mr. Smith had some conflicts at the company, chairmen Russell Caplan underlined the positive contributions of Mr. Smith in a statement released today.
Boral Limited (ASX:BLD) is up 10c, or 1.66 per cent, at $6.12 per share. Boral announced today a plan to buy-back 5 per cent of its own stock. BLD is up over 15 per cent this year.
Commonwealth Bank of Australia (ASX:CBA) is down 10c, or .11 per cent, at $93.31 per share. A former CBA IT specialist has been charged with bribery after a joint investigation by NSW police and the FBI.