{"id":56779,"date":"2014-08-14T21:43:42","date_gmt":"2014-08-15T01:43:42","guid":{"rendered":"http:\/\/countingpips.com\/?p=56779"},"modified":"2014-08-14T21:43:42","modified_gmt":"2014-08-15T01:43:42","slug":"why-the-csl-share-price-rose-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/why-the-csl-share-price-rose-today\/","title":{"rendered":"Why the CSL Share Price Rose Today"},"content":{"rendered":"
August 14, 2014<\/div>
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By MoneyMorning.com.au<\/u><\/a><\/p>\n

What Happened to the CSL Share Price?<\/h2>\n

CSL Limited [ASX:CSL]<\/strong> is a biopharmaceutical company involved in research, manufacturing and product marketing. CSL develops a range of products to treat viral and bacterial illnesses, bleeding disorders and coagulation disorders such as blood clotting. <\/p>\n

The CSL share price closed 4.73% higher on Thursday. <\/p>\n

Why Did This Happen to the CSL Share Price?<\/h2>\n

On Wednesday, CSL announced its 2014 end of financial year results. Net Profit was up $1.31 billion, 7.8% higher than the previous year. In addition, revenue was $394.8 million higher. <\/p>\n

CSL also declared an interim dividend of 60 cents. Making the full year dividend $1.13. Up from $1.02 in 2013. <\/p>\n

And finally, even though CSL just completed a $950 million buy back, they are teasing the market, suggesting the company may consider another $950 million buy back this financial year. <\/p>

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What Now For CSL?<\/h2>\n

The financial results pushed CSL\u2019s share price back over $70 for the first time in two months. Prior to this, the stock was falling and looking like it was going to test a very sketchy technical support level of $62. <\/p>\n

The net profit result slightly surpassed CSL\u2019s own expectation of 7% for 2014. For this financial year, CSL estimate a 12% net profit. <\/p>\n

Some analysts believe CSL\u2019s market share will be tested this year and next. Baxter International Inc [NYSE:BAX] is soon to have immunoglobin product HyQvia approved in the US. This product could take market share from CSL\u2019s Hizentra. <\/p>\n

After trading above $70 today, expect some profit taking over the next couple of days as investors cash in on this recent high. However CSL still remains a solid defensive stock. <\/p>\n

Shae Smith+<\/a>
\nEditor, Money Weekend<\/em><\/strong> <\/p>\n

Join Money Morning on Google+ <\/span><\/a><\/strong><\/p>\n

The post Why the CSL Share Price Rose Today<\/a> appeared first on Stock Market News, Finance and Investments | Money Morning Australia<\/a>.<\/p>\n

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\nBy MoneyMorning.com.au<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By MoneyMorning.com.au What Happened to the CSL Share Price? CSL Limited [ASX:CSL] is a biopharmaceutical company involved in research, manufacturing and product marketing. CSL develops a range of products to treat viral and bacterial illnesses, bleeding disorders and coagulation disorders such as blood clotting. The CSL share price closed 4.73% higher on Thursday. Why Did […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-56779","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/56779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=56779"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/56779\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=56779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=56779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=56779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}