Why these 4 shares are getting pummelled today

These four shares are helping to drag the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) lower for a second consecutive day.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The global bond market sell-off continued overnight and this has sent the local share market lower today with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) falling 0.64% to 5,311 points.

A number of interest rate sensitive shares have led the market lower today, although the healthcare and consumer staples sectors are also underperforming the broader market.

Four shares that have been squarely in the sights of sellers today, include:

OFX Group Ltd (ASX: OFX)

Shares of OFX (formerly OzForex) have crashed more than 15% today after the company delivered a disappointing first-half result. Group turnover fell by 4% from the prior corresponding period, with underlying EBITDA and net profit after tax (NPAT) falling 25% and 21%, respectively. OFX expects second half margins to increase significantly and has suggested full year NPAT will exceed FY16. Based on today's reaction, however, the market remains sceptical on the company's outlook and will want to see further signs of improvement before a significant share price recovery.

Aconex Ltd (ASX: ACX)

Shares of Aconex have fallen below $5 per share for the first time since March, after the technology company announced the retirement of Steve Recht – its chief financial officer (CFO) since 2012. Although Mr Recht will remain with the company until a replacement is found, investors are clearly concerned about the uncertainty this change could create after such a successful period of growth. Interestingly, today's 6.2% share price decline has now wiped out all of Aconex's gains for 2016.

Whitehaven Coal Ltd (ASX: WHC)

Whitehaven Coal shares have plunged more than 7.6% today, despite the absence of any news from the company. It appears some investors are locking in profits after an extraordinary increase in the share price and speculation that the recent rally in coal prices may have peaked. Nevertheless, Whitehaven Coal has been one of the best-performing shares on the ASX this year with a gain of more than 310%.

Vita Group Limited (ASX: VTG)

Shares of Vita Group have crashed more than 6% today, with investors still being left in the dark about potential changes to the company's commercial agreements with Telstra Corporation Ltd (ASX: TLS). It has now been two weeks since the company has made any information available to the market and this uncertainty will certainly be playing on the minds of investors. The shares have now lost more than a third of their value since 31 October.

Motley Fool contributor Christopher Georges owns shares of OzForex Group Limited. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »