PRE-MARKET AUSTRALIAN STOCK NEWS: Macquarie net profit beats estimates

James Hardie (JHX AT) - Q2 FY27 (USD): Revenue 1.56bln (exp. 1.39bln), Adj. EPS 0.42 (exp. 0.38). Guides FY sales between 4.99-5.133bln (exp. 5.23bln) (James Hardie)

Ingenia Communities (INA AT) - Co. receives improved acquisition proposal from Warburg Pincus at AUD 5.55 cash per stapled security, with securityholders to receive up to AUD 5.60 including an H1 distribution of up to AUD 0.05 per security, which will not reduce the offer price. (Ingenia Communities)

Macquarie Group (MQG AT) - H1 FY27 (AUD): Net profit rose 48% Y/Y to 2.48bln (exp. 2.45bln, prev. 1.66bln Y/Y), revenue rose 10.1% Y/Y to 9.57bln (prev. 8.69bln Y/Y) and declares dividend of AUD 3.25/sh. Net profit contributions: Asset Management 1.51bln (prev. 1.175bln Y/Y), Banking & Financial Services 841mln (prev. 793mln Y/Y), Commodities & Global Markets 2.03bln (prev. 1.11bln Y/Y) and Macquarie Capital 278mln (prev. 711mln Y/Y). Bank CET1 ratio 12.9% (prev. 12.8% Y/Y), total deposits 244.2bln (prev. 221.5bln at March-end) and raised 16.3bln in new funding during H1. (Macquarie)

Nine Entertainment (NEC AT) - Q1 FY27 publishing digital subscription revenue rose 7% Y/Y, while total TV revenue fell 6% Y/Y. Expects Q2 total TV revenue to decline by a low-single-digit percentage and H1 Outdoor Media revenue growth in the mid-teens. Reaffirms FY27 guidance for double-digit Outdoor Media EBITDA growth, Stan EBITDA growth and a low-single-digit decline in total TV costs. Raises annualised cost savings target to AUD 180mln (prev. 160mln), expected by end-FY27. (Nine Entertainment)

Qantas Airways (QAN AT) - Co. reaffirms trading conditions remain in line with August outlook, with resilient domestic and international demand, partly supported by travel shifting away from the Middle East. Expects H1 domestic and international unit revenue growth of 8-10% and fuel costs of c. AUD 3.75bln. Expects elevated fuel prices through FY27, with c. 85% of fuel costs hedged, and will adjust fares and capacity accordingly. FY27 net CAPEX expected at the lower end of AUD 4.3-4.6bln guidance, while Loyalty underlying EBIT growth remains on track at 5-7%. Additionally, the Co. is to add c. 10k seats to its most popular frequent flyer rewards category, with 10 dedicated points planes scheduled to operate domestic and international routes in 2027. (Qantas/AFR)

Rio Tinto (RIO AT) - Co. approves a USD 144mln investment by Resolution Copper to advance the next phase of development at its Arizona copper project. (Business Wire)

Westpac (WBC AT) - Co. to sell USD-denominated 3-, 11-year notes. (Newswires)

NextDC (NXT AT) downgraded to Accumulate from Buy by Morgans

REA Group (REA AT) downgraded to Accumulate from Buy by Morgans

Santos (STO AT) downgraded to Neutral from Overweight by Barrenjoey

Woodside Energy (WDS AT) upgraded to Overweight from Neutral by Barrenjoey

• RBA's Hauser said some people's confidence in policy delivery, particularly on inflation, has fallen, adding that monetary policy works with lag, pain often precedes gain. Added that the last meeting had a lively discussion.