MYOB Group Ltd is among 3 shares sliding today

The market has opened higher but the share prices of Myob Group Ltd (ASX:MYO), Domain Holdings Australia Ltd (ASX:DHG) and Beacon Lighting Group Ltd (ASX:BLK) are weaker. 

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These three shares are sliding today for different reasons.

MYOB Group Ltd (ASX: MYO) which provides cloud based accounting and other business management solutions, has pulled out of its takeover of competitor software maker Reckon Limited (ASX: RKN). The company says that “uncertainty” about the deal is one of the reasons, probably not helped by Australian Competition and Consumer Commission voicing concerns that MYOB would have a monopoly on accounting software. 

Domain Holdings Australia Ltd‘s (ASX: DHG) investors have reacted negatively to the news that the former Domain chief executive Antony Catalano has taken up a role at the real estate advertiser’s biggest client,  Tomorrow Agency, as well as investing in the company. 

Beacon Lighting Group Ltd (ASX: BLX), which retails lighting, ceiling fans, and light, has traded up for the most of May, with a share price performance of 12% but today the shares have pulled back despite the company posting no news to the market.

Motley Fool contributor Rosemary Steinfort has no position in any of the 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 Scott Phillips.

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