The S&P / ASX 300 (Index: ^AXKO) (ASX: XKO) has gone virtually nowhere in the past week, adding 1.3%, although 0.9% of that has come in trading so far today.
The falling gold price and the uncertainty of what might happen to the global economy once President-elect Donald Trump takes office on January 20, 2017 appear to be major drivers of the market at the moment.
That hasn’t helped these six stocks, which have seen their share prices tumble in the past week.
|Company||Share Price||Market Cap ($m)||Price fall|
|Karoon Gas Australia Limited (ASX: KAR)||$2.04||$501.5||-18.1%|
|Structural Monitoring Systems plc (ASX: SMN)||$1.76||$179.5||-18.3%|
|Alkane Resources Limited (ASX: ALK)||$0.47||$240.0||-19.5%|
|Integral Diagnostics Ltd (ASX: IDX)||$1.19||$171.5||-21.2%|
|iSentia Group Ltd (ASX: ISD)||$2.54||$508.0||-21.6%|
|CSG Limited (ASX: CSV)||$0.75||$236.3||-39.3%|
|Mobile Embrace Ltd (ASX: MBE)||$0.13||$55.4||-50.0%|
Source: S&P Global Markets Intelligence, Google Finance
Karoon Gas fell 22% yesterday, with legal action filed against oil giant Petrobras over the sale of two major oil stakes to Karoon Gas. We covered the issue in more detail here.
Structural Monitoring Systems hasn’t released any market sensitive news in the past week, and it may just be that traders and investors have lost faith in the company that makes sensors for aircraft.
Alkane Resources, a gold miner, has been hit by the falling gold price, with the share price hammered on Monday. Despite revenues of $110 million in FY2016, Alkane only managed to produce a net profit before tax of $6.7 million.
Integral Diagnostics, a diagnostic imaging company, reported last week that it expects its first half of FY2017 earnings to be ~10% lower than the previous year.
iSentia Group has run into trouble with its acquisition of King Content, which is now losing cash and reported that its first-half earnings would be lower than the previous years.
CSG, the print and technology solutions business also reported that it expected to see lower earnings for the first half of FY2017, but investors don’t appear convinced the company can achieve its stated full year forecast and another earnings downgrade may be coming.
Mobile Embrace also lowered earnings guidance, but investors may be fearful that the factors affecting the downgrade are beyond management’s control, and therefore could occur at any time, with wide-ranging ramifications.
Despite the share price falls, none of the above companies looks like a bargain buy. Investors might want to watch their stories unfold from the sidelines.
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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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