Why these 4 ASX shares are ending the week in the red

In early afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a high. It has followed U.S. markets higher on Friday and is up 0.4% to 6,239.3 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are ending the week in the red:

The Appen Ltd (ASX: APX) share price has fallen 3% to $12.67 despite there being no news out of the tech star. I suspect that today’s decline could be the result of profit taking. After all, the language technology data and services provider’s shares have been on a tear over the last 12 months and are up an impressive 208%.

The Bellamy’s Australia Ltd (ASX: BAL) share price has continued its decline and is down a further 3% to $12.40. This latest decline means that the infant formula company’s shares have lost 20% of their value since this time last week. A broker note out of Goldman Sachs appears to be the catalyst for this decline. Although the broker retained its buy rating, it slashed its price target by 18% due to concerns that Bellamy’s CFDA approval would be delayed for a number of months.

The Capilano Honey Ltd (ASX: CZZ) share price has dropped 1.2% to $16.50 after reports claimed that Coles supermarkets had dumped some of its products for using foreign honey. According to the SMH, the company’s Allowrie product has been dumped by the supermarket giant as it wishes to support local beekeepers. Capilano Honey aims to replace the product with one made from 100% Australian honey.

The Elders Ltd (ASX: ELD) share price has plunged 12.5% to $7.29 after the agribusiness company provided the market with a seasonal update. According to the release, retail earnings have been impacted by unseasonably dry conditions across many parts of Australia, which has reduced chemical input demand. In addition to this, easing cattle prices have impacted Elders’ Agency earnings.

7 of 8 People Are Clueless About This Trillion-Dollar Market

One of our investors has recently returned from a research trip to Silicon Valley... and has a warning for fellow investors:

Because he works for an organization dedicated to spreading great investing ideas, his video report is free today... so you can see it and decide for yourself.

Don't miss your chance click here to learn about this warning and how you might be able to profit!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd and Capilano Honey Limited. The Motley Fool Australia has recommended Elders 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 Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!