The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) are both enjoying their fourth consecutive day in the black and are each trading 0.8% higher, despite a closure on Wall Street overnight due to the Memorial Day holiday.
Although the gains have been widespread there are a number of companies that haven't fared so well, including these five.
Ozforex Group Ltd (ASX: OFX) has been the major casualty amongst the group of Australia's 200 largest companies, even though the money transfer business reported a 52% lift in net profit for the year ended 31 March 2015, early this morning. The stock has soared more than 20% since the end of April, so it's possible investors were hoping for an even stronger result.
Independence Group NL (ASX: IGO) has extended its decline, falling a further 3.3% following yesterday's 12% retreat. The diversified miner lodged a bid worth $1.8 billion for nickel miner Sirius Resources, which investors may believe is too high a price to pay.
Notably, Sirius Resources N.L.'s (ASX: SIR) shares have also fallen 1.8% for the day. This can likely be attributed to the fact that Independence Group's bid was largely scrip-based (that is it will pay Sirius' shareholders with shares as well as cash), meaning that as Independence Group's shares fall, so does the overall value of the proposed transaction. You can read more about that here.
Analytica Limited (ASX: ALT) has plunged 25% to trade at just 1.2 cents per share and was even forced to respond to a price query from the ASX. The company has had a tough run with poor sales (compared to expenditure) and received another query from the ASX recently regarding its negative operating cash flows. Today, the company confirmed that it was in compliance with the listing rules but said that it was "aware of a small speculative advisor overnight changing his recommendation," which would likely explain the plunge.
XPD Soccer Gear group Ltd (ASX: XPD) also felt the wrath of the market losing more than 20% and wiping more than $20 million from its market value. Although the company hasn't released any specific news which would explain the drop, my colleague Mike King did highlight a potential issue with the company in an article yesterday.
