Why these 4 ASX shares are getting hammered today

Chinese Citizens Watching Stock Market at China Securities in Beijing, China, August 24, 2015

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) have both rebounded strongly today, making up for some of their heavy losses on Friday.

Unfortunately, however, these four companies are not joining in the fun today…

Slater & Gordon Limited (ASX: SGH) shares continue to bounce around their lowest levels in history, following what has been an extremely turbulent 12-month period for investors. Investors are likely nervous regarding the company’s meeting with its banking syndicate which, if an agreement is not reached, could force Slaters to repay its entire bank debt load in less than 12 months. The shares have fallen 5.7% today to just 25 cents.

Senex Energy Ltd (ASX: SXY) shares have shed 10.2% to 26.5 cents a share after the energy producer made note of a drilling contract dispute in an announcement this morning. The dispute relates to a drilling contract with Energy Drilling Australia (EDA), which is owned by Ausdrill Limited (ASX: ASL). Senex says it terminated the contract due to breaches of contract by EDA, but EDA wants roughly $6.7 million in compensation for wrongful termination.

Regardless of whether or not it needs to be paid, shareholders by no means needed any more reasons to sell the shares given the tough conditions in the energy sector right now.

1-Page Ltd (ASX: 1PG) has proven to be an incredibly volatile share. After reaching a high of $5.69 in September, it has since shed 80% to trade at $1.135. It’s down 5.8% today, alone. 1-Page offers a promising product, but investors are growing increasingly concerned about its low revenues and operating cash flows, together with its promise to increase its rate of cash burn.

BHP Billiton Limited (ASX: BHP) has also continued its decline after reaching a high of $19.44 less than a month ago. The shares are now fetching $16.59, down 2.2% for the day, possibly due to concerns that the recent rebound in commodity prices will not be sustained. Iron ore prices are tipped to fall below US$50 a tonne in the near future (although they rose 2% during the latest session, according to The Metal Bulletin), while oil prices declined 1.6% to less than US$39 a barrel.

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Motley Fool contributor Ryan Newman owns shares of 1-Page Ltd. 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.

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