The S&P/ASX 200 (Indexasx: XJO) (ASX: XJO) has closed for the day in positive territory, despite weak leads from US markets overnight. The index gained 0.9% to end at 5,662.3.
But these four large companies didn’t find much favour with investors today. Here are our thoughts:-
Intueri Education Group Ltd (ASX: IQE) has dropped 6.3% to $1.+80. The New Zealand-based education group has 9 schools offering 59 areas of study and currently has students from 49 different countries. Today the company reported that it expected 2015 financial results to come in at the lower end of its range of $30 to $33 million in earnings. Investors obviously were expecting a better performance than that.
Cardno Limited (ASX: CDD) fell 5.6% to $2.36, adding to its huge fall yesterday from just under $3.50 yesterday. The company, which provides infrastructure and environmental services to many sectors including the mining industry, yesterday announced that it was expecting a full year net profit of between $48 and $51 million for the full year, representing a significant fall in the second half. Cardno reported a $31.5 million net profit for the six months to December 2014, suggesting things are getting worse in the resources sector for services companies.
APN News and Media Limited (ASX: APN) lost 1.7% to close at 88.5 cents. Yesterday the newspaper and magazine publisher unveiled plans to begin charging for its regional newspapers, as it begins to charge for digital access. This follows the moves already made by metropolitan newspapers around the world to retain some revenues as physical newspaper sales continue to decline.
Billabong International Limited (ASX: BBG) closed down 3.7% at 64.5 cents. Shares in the recovering surf, skate and ski wear retailer have gained 11% over the past month, but investors have had a rough time over the past year with shares on a rollercoaster between 74 cents and 46 cents. In the last half, Billabong did report a small net profit suggesting it was back on track, but investors may need to wait for the full year results.
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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.