4 shares sinking on the ASX today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is up just 0.3% in late afternoon trading, but still looks headed to end the week down around 0.4%.

Looking at the sectors, gold was the biggest loser, dropping 2.8%, while information technology and the consumer discretionary sectors were the best performers gainers, rising 1.5% and 1.4% respectively.

That didn’t help these 4 shares, which saw losses of more than 9%.

Mobile Embrace Ltd (ASX: MBE) saw its share price drop another 12.4% to 12.7 cents, following yesterday’s huge fall. The mobile marketing and carrier billing company downgraded earnings guidance yesterday by around 18%. Investors appear concerned that the one-off event impacting the company may not be one-off and could impact the company down the track as well.

Integral Diagnostics Ltd (ASX: IDX) shares fell 13.5% to $1.28 after the diagnostic imaging company said there were ongoing inconsistency in referral patterns and volumes are highly volatile. The company says its volumes are up 4% in the first four months of FY2017, but slightly under their expectations. As a result, the first half of FY2017 earnings are expected to be ~10% lower than the previous years.

Silver Chef Limited (ASX: SIV) share price dropped 9.8% to $9.99. The commercial equipment rental and financing company today reported that it had been a victim of fraud, which was expected to cost the company $2.3 million – around 10% of its net profit for the FY2017 year. Silver Chef also says it expects to take several steps to prevent it happening again, but will be forced to take higher provisioning for bad debts and impairments in its GoGetta business.

Whitehaven Coal Ltd (ASX: WHC) share price dropped 9.3% to $2.54, after China relaxed working day restrictions which should see coal prices ease. Chinese officials had restricted output to cut back on pollution and perhaps to reduce supply and increase prices. Unfortunately, that saw coking coal prices quadruple and thermal coal prices soar. The move to relax restrictions could see coal supplies boom again – bad news for the coal price and coal miners like Whitehaven.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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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