The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) is taking a breather today as investors prepare themselves ahead of a busy reporting season. At lunchtime, the benchmark index was trading 0.06% higher to 5,656 points.
The gold and materials sectors are leading the way higher with the healthcare, utilities and information technology sectors lagging behind.
Four shares that have been left well-and-truly behind today, include:
Tabcorp Holdings Limited (ASX: TAH)
Shares of Tabcorp have fallen 4.4% after the company delivered a pretty subdued first-half earnings report. Revenue growth came in at just 2.1% and the gaming company’s headline profits were eaten into by a number of one-off charges. Tabcorp continues to face stiff competition from digital and international betting companies, although its proposed merger with Tatts Group Limited (ASX: TTS) could deliver some value to shareholders.
Ellex Medical Lasers Limited (ASX: ELX)
Shares of Ellex Medical Lasers have been smashed today following a disappointing trading update. At one point the shares shed as much as 22% of their value, but have since regained some of those losses to trade around 11% lower. It comes after the company said it expects first-half sales revenue to be flat as a result of a customer backlog due to manufacturing delays. Nonetheless, management is confident of a rebound in the second half and expects full year revenues to be significantly higher than FY16.
GBST Holdings Limited (ASX: GBT)
Shares of GBST have continued to fall today, losing more than 4% to $3.07. The shares were smashed yesterday after the fintech company released a much weaker-than-expected earnings update. Unfortunately, project delays and falling service revenues in the UK will now result in full-year EBITDA of around $12 million – significantly below the $17.2 million delivered in the prior corresponding period.
Aconex Ltd (ASX: ACX)
Shares of Aconex have continued on their way down today with a fall of 2.1% to $2.93. This is a new 52-week low for the company and comes on the back of a huge profit downgrade earlier in the week. The shares are now trading at a 66% discount to their 52-week highs, and although this may be appealing to some investors, the shares are still being priced for growth that is looking less likely to materialise.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor Christopher Georges has no position in any stocks mentioned. The Motley Fool Australia owns shares of ACONEX FPO. 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.