Telix Pharmaceuticals Ltd (ASX: TLX), Magellan Financial Group Ltd (ASX: MFG), and Fortescue Ltd (ASX: FMG) shares are grabbing financial news headlines today.
Heading into the Friday lunch hour, two of the S&P/ASX 200 Index (ASX: XJO) stocks are outperforming the 0.4% losses posted by the benchmark index at this time, while one is trailing those losses.
So, which blue-chip stocks are catching ASX investor interest today?
Read on!
Fortescue shares dip on green energy news
Turning to Fortescue shares first, shares in the ASX 200 iron ore giant are down 2.1% at the time of writing, trading for $20.11 each.
This morning, the miner reported on a major milestone in its journey to eliminate diesel from large-scale industry.
The company said it is accelerating the delivery of the world’s first industrial, fully integrated green energy grid at a scale “comparable to a city”.
Fortescue noted that diesel fuel is 100% imported and “subject to extreme price volatility, unreliability and hardship”. The company said the industry’s diesel use results in billions of dollars in taxpayer-funded subsidies.
The ASX 200 miner expects to save US$100 million in fossil fuel costs by next year. Once its decarbonisation program is fully complete, the company expects C1 unit costs to come down by at least another US$2 to US$4 per wet metric tonne.
Fortescue shares are up 33.4% in 12 months, not including dividends.
Which brings us toâ¦
Telix shares leap on US FDA acceptance
Telix shares are once more leaping onto investors’ radars today.
Shares in the ASX 200 diagnostic and therapeutic product developer are up 7.3% at the time of writing, swapping hands for $14.63 apiece.
Investors have been bidding up Telix shares after the company announced that the United States Food and Drug Administration has accepted its resubmitted New Drug Application (NDA) for TLX101-Px1, the company’s glioma (brain cancer) imaging agent.
“The FDA’s acceptance of our NDA resubmission is an important milestone for Telix,” Kevin Richardson, CEO Telix Precision Medicine, said.
“We appreciate the FDA’s constructive engagement and look forward to working closely with the Agency to urgently obtain approval and then bring this product to market for the benefit of patients,” Richardson added.
Telix shares are down 44.9% over 12 months.
Magellan shares gain on $1.6 billion merger update
Like Telix and Fortescue shares, Magellan is making headline news today following a major announcement.
Magellan shares are up 1.3% at $9.46 apiece after the ASX 200 funds manager updated the market on its proposed full merger with Barrenjoey Capital Partners.
Magellan said it will acquire all of the remaining shares in Barrenjoey in a merger that values Barrenjoey at $1.62 billion.
Magellan shares are up 30.4% in 12 months, not including dividends.
The post Why Magellan, Telix and Fortescue shares are grabbing headlines on Friday appeared first on The Motley Fool Australia.
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More reading
- Should you buy Telix shares after its big US news?
- Fortescue shares ease, but this major update could keep momentum building
- Up 31% in a month, why are Telix shares lifting off again on Friday?
- Magellan Financial Group shares in focus following Barrenjoey merger approval
- Where is the value amongst ASX healthcare shares?
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.