Why these 4 ASX shares tumbled lower today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from its early declines and pushed marginally higher to 5,879 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they have tumbled lower:

The Amaysim Australia Ltd (ASX: AYS) share price has plunged almost 19% to $1.84 following the release of a trading update ahead of its full-year earnings release later this month. The telco company advised that its expects revenue in the range of $292 million to $294 million and underlying EBITDA in the range of $17 million to $18 million. This fell short of the market’s expectations.

The Carsales.Com Ltd (ASX: CAR) share price has fallen almost 3.5% to $13.64 a day after the release of its half-year update. Today’s decline appears to be related to a broker note out of Citi which revealed that its analysts have downgraded the car listings company to a sell rating with a reduced price target of $12.50.

The Class Ltd (ASX: CL1) share price is down 9% to $2.66 following the release of a mixed half-year result. Although the cloud-based SMSF accounting software company reported a 19% increase in first-half net profit after tax, investors may be concerned at its rising costs. The company’s cost to acquire a client increased 20% to $135 per customer, compared to $112 per customer a year earlier and $114 per customer at the end of FY 2017. Disappointingly, average revenue per unit went the other way and declined year-on-year.

The Tabcorp Holdings Limited (ASX: TAH) share price has tumbled 7.5% to $4.73. This morning Tabcorp reported its half-year results which revealed a 19% increase in revenue to $1,376.2 million, but a massive 58% decline in net profit to $24.6 million. According to the release, net profit was impacted by significant items after tax of $57.4 million.

Need a lift after these declines? Then grab these top stocks before they lift off.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Class Limited. The Motley Fool Australia has recommended Limited. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.