The S&P/All Ordinaries is down 0.5% today – not quite as bad as the US markets on Friday. The banks and big miners continue to drag the market down.
These five stocks have been crunched in trading so far today…
Antares Energy Limited (ASX: AZZ) has plunged 14% to 21.5 cents, and the oil and gas stock has now lost 60% in the past 3 months. Operating in the US shale fields, concerns are obviously rising that the company’s assets may not be worth as much as the company has touted. Knocking back the US$300 million potential sale of its Permian Assets in July this year now looks like a giant mistake.
Mining services company WDS Limited (ASX: WDS) has lost 9.8% to trade at just 23 cents. Shares have now lost 75% in the past three months. Interestingly, directors have been buying shares on market in recent weeks, even at prices above today’s price – obviously they think the shares are cheap, but cynics might suggest they are trying to prop up the share price.
STW Communications Group Ltd. (ASX: SGN) has fallen 9.9% to trade at 95.5 cents. It hasn’t been a great year for the advertising and media company – losing 35% since January 2014. Today the company revised down its forecast for net profit for the 2014 financial year. It is now expected to be between $47 million and $49 million, compared to $49.5 million in 2013. Shares in STW appear cheap, trading on a P/E ratio of less than 8, and paying a fully franked dividend yield of more than 8%.
Gold miner Medusa Mining Limited (ASX: MML) has seen its shares plummet 9.7% to around 67.7 cents, as gold continues to fall. The gleaming metal is currently trading at around US$1,220 per ounce, and appears set to continue trading at these prices for some time. It seems the sector can’t buy any friends at the moment – even the impact of the falling Australian dollar, which will help Australian gold producers, is being ignored by investors.
Sirtex Medical Limited (ASX: SRX) has lost just over 8% to trade around $25.86. The developer of SIR-spheres, a product to assist with liver cancer treatment, has had an outstanding year – with shares more than doubling. Currently trading on a P/E of 55, the high-quality medical company may be seeing profit takers taking advantage of the high prices.
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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga