On Monday, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) traded higher, despite heavy selloffs in a handful of prominent ASX stocks…
Slater & Gordon Limited (ASX: SGH) shares fell as much as 19.8% on the back of fresh growth concerns from analysts, who cited cash flow problems and an ambitious full-year profit guidance update. In fact, analysts from UBS were quoted in Fairfax as saying the company’s ability to meet full-year guidance would imply, “an incredibly strong second half.” Since acquiring the professional services division of troubled legal services firm, Quindell Plc, Slater & Gordon shares have been punished in 2015.
Liquefied Natural Gas Ltd (ASX: LNG) shares fell more than 10%. The prospective US LNG tolling and liquefaction facility owner has fallen more than 66% over the past year against a backdrop of falling oil prices. Last week, the company also announced a number of executive level changes.
Ardent Leisure Group (ASX: AAD), the owner of Dreamworld, White Water World, AMF and Kingpin bowling and more, fell as much as 7% today. Ardent Leisure did not release any market sensitive information aside from a change of director’s interest, which showed the company’s new CEO, Deborah Thomas, purchasing a modest amount of Ardent shares on the ASX. Ardent shares have fallen 13% over the past month.
Santos Ltd (ASX: STO) had another tough day on the market, falling 3.4%. Santos did not release any sensitive news today that could explain the falls, and crude oil prices rose 0.7% to $US44.48 per barrel overnight. Despite takeover rumours and the prospect of asset divestments, the market has heavily discounted shares of Santos over the past 12 months.