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6 ASX stocks smashed on the ASX today

It might be Wednesday, or ‘hump’ day, but there wasn’t much soaring on the ASX today.

The indices were smashed across the board, with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and S&P/ASX 300 (Index: ^XKO) (ASX: XKO) both down 1%, although the S&P/ASX Small Ordinaries (Index: ^AXSO) (ASX: XSO) managed to ‘only’ drop by 0.5%.

These six stocks came in for a beating from investors:

WDS Limited (ASX: WDS) dropped 31% to 20 cents, after the contractor released another earnings downgrade, going from a small profit to a big loss. We wrote about it in more detail here.

Unilife Corporation (ASX: UNS) fell 16.2% to 54.5 cents. Unilife develops injectable drug delivery systems and overnight reported a loss of US$22.3 million for the September quarter, around double the previous corresponding period. Still, management were upbeat in the quarterly report.

Atlas Iron Limited (ASX: AGO) was hammered down 14.3% to 21 cents. The miner has now lost 82% of its share price in the past year, thanks mainly to the falling iron ore price, and worries that the company is now operating at a loss.

Another junior iron ore miner, BC Iron Limited (ASX: BCI) followed suite, falling 10.4% to 77.5 cents, and like Atlas, has seen its share price crumble by more than 80% since November 2013. We shared our view on the iron ore stocks in detail in this article.

Imdex Limited (ASX: IMD) dropped 9.1% to 50 cents. Imdex provides drilling fluids and survey instrumentation to the resources, energy, water and civil engineering industries. Perhaps thrown out with the mining services (WDS above) bath water, Imdex reported a positive first quarter in October, with revenues up 10%, and earnings up 12% over the previous year. Mining services is not a great sector to be in at the moment, even if your company is reporting positive results it seems.

Last but not least was McAleese Ltd (ASX: MCS), which saw its shares drop 8.8% to 36.5 cents. The transport company has seen its shares drop 77% since November 2013, and investors were clearly not impressed by the company’s announcement yesterday of a $3 million investment in Heavy Haulage Australia, in exchange for a 50% share.

While mining services companies and iron ore miners bite the dust, there's a 'hidden' set of resources stocks the market is simply overlooking. Discover the names and codes of these 3 surprising ASX plays now in The Motley Fool's brand-new FREE report. Simply click here for your free copy now.

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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