4 shares sinking on the ASX today

The S&P/ASX 300 (Index: ^AXKO) (ASX: XKO) is virtually flat in late afternoon trading, and has struggled to get above Friday’s close. Falls in the large banks and resources companies are dragging the market down.

However, these 4 companies have suffered more than most…

ALS Ltd (ASX: ALQ) share price has crashed 11.1% to $3.99 after the laboratory testing company reported a statutory loss of $240.7 million attributable primarily to an impairment of the company’s oil and gas investments of $314 million. ALS flagged an impairment of around $330 million before tax at the end of February 2016. Underlying earnings continue to be hit by huge falls in energy revenues and declining minerals earnings.

Blackmores Limited (ASX: BKL) saw its share price fall 3.9% to $151.90, after media reports that the vitamins and supplements producer was having trouble cracking the infant formula market – as we reported earlier. However, it’s still early days for Blackmores and it may take some time before calling it a failure. The market – as ever – though, is quick to judge and has deemed it a failure.

Bellamy’s Australia Ltd (ASX: BAL) share price has tumbled 4.4% to $10.99 and remains a long way from its 52-week high of $16.50. It seems investors still have concerns over the implementation of new rules regarding imported products into China and how that will impact on Bellamy’s. We have previously written that we think it’s positive for the company – as it allows Bellamy’s to capture more of the higher margin sales – but obviously, not everyone sees it that way.

Infomedia Limited’s (ASX: IFM) share price has dropped 4.5% to $0.54, perhaps as investors absorb the software developer’s profit downgrade released on Thursday. As we reported, net profit is now expected to be between $10.2 and $10.5 million – down from $13.2 million, despite revenue growth of 12%. Infomedia has seen its share price more than halve from a year ago, as earnings have fallen. Because revenues have grown, that suggests that Infomedia’s expenses may be spiralling out of control.

Could these 3 blue chips be a better bet?

Discover The Motley Fool's top 3 blue chips for 2016. These 3 'new breed' shares pay fully franked dividends AND offer the very real prospect of significant capital appreciation. Simply click here to gain access to this comprehensive FREE investment report.

No credit card required.

Motley Fool contributor Mike King owns shares of Bellamy's Australia. You can follow Mike on Twitter @TMFKinga

The Motley Fool Australia owns shares of Bellamy's Australia. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.