4 shares getting smashed on the ASX today

Credit: Blackmores

The bulls are once again taking control of the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) today with the broad market index rising 0.9% to 5262 points.

Despite today’s rally, a number of stocks have been left behind including:

Blackmores Limited (ASX: BKL)

2015’s market darling has started off 2016 surprisingly poorly. The shares have lost another 2.4% today, taking its year-to-date decline to more than 28%. There was no specific company news out today but investor concerns are still lingering around the potential impact of the Chinese government’s new tax on foreign imports. This has negatively affected sentiment in the sector and there is also some concern amongst investors about the initial level of sales from Blackmores’ new baby formula venture. Until these issues are resolved, trading is likely to remain volatile on both the up and downside. Blackmores shares have still gained 169% over the past 12 months.

Coca-Cola Amatil Ltd (ASX: CCL)

Shares of Coca-Cola Amatil have dropped more than 3.2% today after its US parent reported weaker-than-expected first quarter sales overnight. Sales and earnings from the beverage giant were down from the same time last year and this was driven primarily by weakness in its traditional carbonated soft drinks. Domestic investors are clearly concerned about this trend as Coca-Cola Amatil has also suffered from declining growth in recent years as consumers increasingly look for healthier options. The shares have lost nearly 19% over the past 12 months.

Westfield Corp Ltd (ASX: WFD)

Shares of the global shopping centre powerhouse have fallen by around 2.8% today despite no news from the company. Today’s move is the likely result of the appreciating Australian dollar against the USD. The Aussie dollar is now trading at more than 78 US cents – its highest level since June 2015. Westfield reports its earnings and dividends in US dollars so the recent surge in the Aussie dollar is a negative for Australian investors. Despite today’s fall, Westfield shares have still gained around 2.2% over the past 12 months.

Netcomm Wireless Ltd (ASX: NTC)

Shares of Netcomm Wireless are sharply lower today following the completion of a $50 million placement. The new shares are being issued at $2.95 to institutional and sophisticated investors with the proceeds to fund the next stage of the company’s growth. The placement was heavily oversubscribed and today’s reaction looks to be from disappointed investors who missed out on the opportunity to buy shares at the discounted price. Netcomm has embarked on a journey of rapid growth and has become a leading provider of broadband and wireless products globally. Although the shares have fallen 5.2% today, they have still gained a whopping 423% over the past 12 months.

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Motley Fool contributor Christopher Georges has no position in any stocks mentioned. 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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