It has been a positive start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index has put Friday’s wobbles behind it and is 0.7% to 5,733 points.
Unfortunately not all shares on the market have been able to follow the market higher today. Here’s why these four shares have started the week in the red:
The Ansell Limited (ASX: ANN) share price is down 3% to $20.94 following the release of its full-year results. The healthcare company reported group earnings before interest and tax of $217.8 million in FY 2017, down 8% from $236.7 million in FY 2016. This was lower than analysts had expected, leading to today’s decline.
The Bellamy’s Australia Ltd (ASX: BAL) share price has tumbled 3% to $8.42 despite there being no news out of the infant formula company. But with its shares up sharply last week following news that its newly acquired Camperdown facility had regained its CNCA registration, I feel today’s decline is likely to be a result of profit taking.
The Kogan.com Ltd (ASX: KGN) share price has continued to sink lower, this time by over 5% to $2.08. After peaking at $2.70 at the start of the month, the online retailer’s shares have now sunk a whopping 23%. It appears as though investors are finally coming to the realisation that the imminent launch of Amazon in Australia could have a huge impact on Kogan’s business.
The Resapp Health Ltd (ASX: RAP) share price has fallen almost 6% to 8.3 cents. Today’s fall extends the digital healthcare company’s decline to over 73% in the last month. Investors have been heading to the exits in their droves following its recent clinical trial failure.
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Motley Fool contributor James Mickleboro 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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