Stocks of the Hour: a2 Milk, Magellan & Endeavour

Slater and Gordon Lawyers has filed a class action against the a2 Milk Company (ASX:A2M). The allegation regards investors who bought shares in a2 Milk over a nine-month period during which the company posted four earnings downgrades. Shares in the A2 Milk Company (ASX:A2M) are trading 6.6 per cent lower at $6.09.

Investment giant Magellan (ASX:MFG) has posted net outflows of $1.5 billion for the September quarter, around 1.3 per cent of average funds under management. Magellan shares fell sharply over the last year, down 27 per cent in the last month. Shares in Magellan Financial Group (ASX:MFG) are trading 3.2 per cent lower at $32.81.

The son of investment billionaire Bruce Mathieson has announced he will step down from his role as CEO for Endeavour’s (ASX:EDV) hotel division. Bruce Mathieson Jr will leave his role in December this year, in order to pursue other interests. Shares in Endeavour Group (ASX:EDV) are trading 1.5 per cent lower at $7.01.

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