MENU

Why these 4 ASX shares are dropping lower today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back some of yesterday’s gains. At the time of writing the benchmark index is down 0.2% to 6,176.7 points.

Four shares that have fallen more than most today are listed below. Here’s why they have dropped lower:

The 4DS Memory Ltd (ASX: 4DS) share price has crashed a massive 40% lower to 6.9 cents after the memory storage developer provided an update on its collaboration with imec. The two parties are working together to develop a production-compatible process for the 4DS Interface Switching ReRAM technology, but appear to have had a few issues with the first iteration.

The Brickworks Limited (ASX: BKW) share price is down 5% to $16.27 after the release of its full year results. Although the building supplies company posted a record underlying net profit of $223.7 million, up 14% from the prior year, investors appear to be disappointed with its FY 2019 outlook. Management advised that sales have been patchy and pointed the finger at the banks.

The Premier Investments Limited (ASX: PMV) share price has dropped 2% lower to $19.07 after the retail conglomerate’s full year results came in below expectations. Although the Smiggle and Peter Alexander brands continued their strong form, the rest of its portfolio was mixed. I think Premier Investments’ shares are overvalued at these levels and believe there are better options elsewhere in the sector.

The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price has tumbled 5.5% to $24.21 following the release of the investment house’s full year results. In FY 2018 Washington H. Soul Pattinson posted a regular profit after tax of $331.1 million, up 17.4% on the prior period.  While I felt this was a strong result, I suspect the market had priced in an even stronger one judging by its year-to-date share price gain.

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 and has recommended Premier Investments Limited and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Brickworks. 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…

Including:

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!