Melco Resorts & Entertainment (MLCO) shares were down about 4% in Monday trading after Morgan Stanley downgraded the stock to equalweight from overweight and cut its price target to $6 from $6.30.
Trading volume stood at more than 2.2 million shares, compared with a daily average of about 1.9 million.
Price: $5.31, Change: $-0.23, Percent Change: -4.07%
Pacgold (ASX:PGO) said Caoilin Chestnutt has resigned as its non-executive chair, effective June 19, according to a Monday Australian bourse filing.Richard Hacker was appointed as Chestnutt's successor, per the filing.The company's shares fell 2% in recent trading on Monday.
(Updates with the stock movement in the headline and last paragraph.)EQT Holdings (ASX:EQT) plans to stop offering independent superannuation trusteeship as part of a strategic decision to focus on its core corporate trustee services and trustee and wealth services businesses, according to a Monday filing with the Australian bourse.The decision follows a review that evaluated market dynamics, operating requirements, long-term growth opportunities, as well as shifting client needs as two of the company's major superannuation clients are considering a move to internalize trusteeship.If Equity Trustees Superannuation retires from its superannuation trustee appointments, EQT Holdings will be required to repay operational risk financial requirements loan facilities of AU$36 million, the company said.It added that the move is expected to result in a one-off non-cash impairment charge estimated at about AU$13 million in fiscal 2026 results, while total legal and advisory costs related to the review are expected to be about AU$6.3 million for the fiscal year.Additionally, the company also expects to incur about AU$2.2 million of net legal and advisory costs in the second half of the fiscal year for legal proceedings related to the Shield and First Guardian Master Funds.EQT Holdings said its Superannuation Trustee Services business accounted for 5% of the group's net profit before tax in the first half of fiscal 2026.The company's shares fell 13% in recent Monday trade.
NobleOak Life (ASX:NOL) said it increased its embedded value by 9% year over year to AU$2.34 per share, or AU$217.7 million, as of the end of 2025, according to a Monday filing with the Australian bourse.Excluding a previously disclosed one-off Victorian stamp duty provision, annual embedded value growth would have been about 13%, reflecting profitable growth of in-force premiums and continued market share gains, the company said.It also reported AU$538 million of in-force premiums as of May 31, up 16% from a year earlier, marking the achievement of its fiscal 2026 guidance for growth of more than 15%, per the filing.The company's shares gained nearly 3% in recent Monday trade.