Virgin Blue Holdings (VBA) us a budgeted full service airline carrier and offers holiday packages.

VBA has stated that the ACCC knocked back its request to form a trans-Tasman alliance with Air New Zealand.

The regulator was of the view that the alliance would reduce competition in the trans-Tasman market.

The bad news for VBA follows yesterday’s decision by US regulatory authorities to block its proposed tie-up with Delta Airlines.

Both decisions are a massive blow in VBA’s attempts to steal market share from Qantas (QAN), with its share price sinking another 7% on Friday.

QAN, on the other hand, jumped 2.4% due to the removal of another of its competitive threats.

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Kingsgate Consolidated (KCN) is a gold miner, operating in South East Asia, South America and Australia.

The company’s trump card is its Chatree Mine in Thailand, which is currently undergoing yet another expansion review.

Like many other Aussie gold miners, KCN has been one of the stocks to watch in recent months given its leverage to record gold prices.

KCN recently reported its full year results, which showed a more than doubling of FY10 net profit to $73.1 million thanks to a 54% jump in revenue.

The huge growth in revenue was driven by higher spot gold prices in addition to increased production.

KCN’s Chatree gold mine produced 132,628 ounces of gold for the year, which was also the first time the mine operated for the full year.

KCN forecast FY11 gold production of 120,000 – 130,000 ounces, however this was subject to the timing of accessing the remainder of its Chatree North mineralisation.

KCN declared a final dividend of 20 cents per share, up from last year’s 15 cents.

KCN was among the stock market gainers on the day of its results announcement, rising 2.8%.

Stocks to Sell 20 May 2010

Australian stock Sonic Healthcare (SHL) is an international medical diagnostics company, providing laboratory, medicine/pathology and radiology services. SHL currently has a market capitalization of $4.9 billion.

SHL has advised that it will fall short of its previous earnings guidance due to weak pathology revenues and regulatory uncertainty.

SHL now expects FY10 net profit of between $290 and $295 million, down from the previous guidance of $315 million.

Australian share price for SHL last closed at $12.62, down 0.6% for the session.

David Jones (DJS) is an Australian premium department store, and one of the more well known Australian shares.

Recently, DJS advised that 3Q10 sales rose 1.4% from a year ago, to $417.4 million.

DJS said that although trading conditions during the quarter were challenging, they were mainly in line with forecasts.

DJS maintained a cautious outlook for 4Q10 following the cycling of government stimulus measures and challenging trading conditions.

DJS reaffirmed guidance of 5% – 10% net profit growth for 2H10 and FY11, but advised that the completion of its Bourke Street store will not add to operating earnings until FY12.

DJS climbed more than 3% on the day of the announcement, making it one of the best performing Australian shares that day.

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Aussie Shares – Macarthur Coal (MCC) 18 May 2010

Aussie stock Macarthur Coal Limited (MCC) is the largest low volatile pulverized coal producer in the Aussie Market which exports its products to leading steel producers.

MCC has rejected Peabody’s revised offer of $15 cash per MCC share.

MCC’s largest shareholder, CITIC, argued that Peabody’s offer was not reflective of the coal miner’s long-term strategic value.

MCC advised that it will not enter into further discussions with Peabody based on the current proposal.

After months of takeover posturing, it appears that MCC is set to continue in its current form; unless Peabody revises its offer or a third party decides to throw its hat in the ring.

MCC Aussie share price plunged approximately 14.5%, settling at $11.25 a share.