Why these 4 shares are getting hammered today

The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) is trading firmly in positive territory today on the back of positive offshore leads and reasonably good Chinese economic data.

The broader market has gained 0.36% mid-way through the session, with the gold and telecommunications sectors really helping to push the market higher.

Four shares that haven’t been so lucky, however, include:

Nearmap Ltd (ASX: NEA)

Nearmap shares have given back some of yesterday’s terrific gains, falling 6% to 86 cents. The aerial imaging company provided a positive first quarter update yesterday that certainly got investors excited. One of the biggest positives from the update was that Nearmap appears to be making progress on its US expansion plans. Although some investors have decided to take profits today, the shares have still managed to gain around 139% over the past 12 months.

Star Entertainment Group Ltd (ASX: SGR)

This is the second day in a row that Star Entertainment has made it onto the list of worst performing shares as investors continue to worry about the implications of the Chinese government’s crackdown on VIP gambling and corruption. The shares have lost another 2.2% today and are now trading more than 12% below their recent October highs. Shares of Crown Resorts Ltd (ASX: CWN) are also trading lower today, falling 2.4% to $11.07.

Mcgrath Ltd (ASX: MEA)

Shares of McGrath have lost 5.5% today after a change in substantial holding notice showed that Perpetual Limited (ASX: PPT) has reduced its shareholding by another 1.5 million shares. This follows on from last week’s notice that showed the fund manager had reduced its holding by around 1.1 million shares. While it is not uncommon for fund managers to regularly alter their holdings, the big sell-down may have spooked some investors as Perpetual has been one of McGrath’s biggest supporters.

BHP Billiton Limited (ASX: BHP)

Shares of BHP have fallen 1.5% today after the mining giant released its September quarterly update. Although the report was broadly in line with market expectations, the company noted that its guidance for its Olympic Dam operations would come under review following the state-wide power shortage in South Australia a couple of weeks ago. Despite this, BHP has left its full year production and cost guidance unchanged at this stage and expects to generate a strong level of free cash flow if commodity prices remain at current levels.

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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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