Why Bellamy’s Australia Ltd is one of 4 shares getting the punt today

Credit: Bellamy's

The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has today managed to recoup some of yesterday’s losses with a rise of 0.45% to 5,787 points.

Interestingly, every sector except the financials, is trading in positive territory with particularly strong gains coming from the materials sector.

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

Bellamy’s Australia Ltd (ASX: BAL)

Shares of Bellamy’s have finally returned back to trading today after the company provided a detailed business update. Unfortunately for shareholders, there was little to smile about with the company significantly downgrading expected FY17 margins and profits. On top of that, current CEO, Laura McBain, will be replaced. The shares opened around 44% lower, but have since managed to regain some ground to trade around 30% lower at $4.68.

Ramelius Resources Limited (ASX: RMS)

Shares of Ramelius Resources have plunged nearly 4.8% today after the gold producer announced that it expects its December quarterly production costs to be higher than its previous guidance of $1,100 per ounce. It comes after the company delivered quarterly gold production in the lower portion of its guidance range. Nonetheless, it was still the 12th consecutive occasion the gold producer has met its quarterly production guidance.

Primary Health Care Limited (ASX: PRY)

Shares of Primary Health Care have suffered their second consecutive day of sharp falls following the news that its CEO and managing director, Peter Gregg, will face court over allegations of corporate misconduct while he was serving as an executive at Leighton Holdings. The shares have lost nearly 3% today and around 7.6% since Monday’s close.

Platinum Asset Management Limited (ASX: PTM)

Shares of Platinum have fallen more than 2.2% today after Credit Suisse cuts its earnings forecasts for the international fund manager. As reported in the Fairfax press, the broker estimates that Platinum suffered its second worst month of redemptions during December, despite the rally in global equity markets. Unsurprisingly, shares of Platinum have significantly lagged their peers over the last 12 months with a decline of around 25%.

Are you worried that the market rally is running out of steam? If so, then you should read this:

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

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