The S&P / ASX 200 (ASX: XJO) is down around 0.2% on the final trading afternoon of the week as investors stick to the sidelines with no local economic data points or macro events to give the market much direction. However, some well known shares are notably lower for different reasons.
So let’s take a look at what may be behind the share price moves.
Crown Resorts Limited (ASX: CWN) shares are down 2.6% to $11.94 after the group yesterday reported that Australian resorts main floor gaming revenue was down 0.3% for the period July 2018 to October 28 2018, while non-gaming revenue climbed 3.5% higher. The group’s star asset in Crown Melbourne also posted flat main floor gaming revenue. Crown is pressing ahead with its $2.2 billion Crown Sydney project at Barangaroo wharf, with an estimated completion date over the first half of 2021.
The Commonwealth Bank of Australia (ASX: CBA) share price has fallen 1.5% to $67.88 today after Australia and New Zealand Banking Group (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) failed to impress the market with their profit reports and outlooks this week. Commonwealth Bank is likely to provide a September quarter trading update later in November. Analysts’ eyes will be on expenses, home loan growth, and any pressure on its net interest margin.
The Blackmores Limited (ASX: BKL) share price has plunged 6% to $121.80 after an analyst at Citigroup downgraded it to a “sell” status, with a $120 share price target. According to the Fairfax media report the analyst feels the stock is overvalued given competition from the likes of Suisse and an uncertain outlook in China.
The Janus Henderson Group (ASX: JHG) share price has dived 4.3% to $33 after the London-based debt and international equities manager handed in a weaker-than-expected profit report for the quarter ending September 30, 2018. Janus reported that adjusted net profit declined 8% on the prior quarter, while revenues also fell. Fund flows over the quarter were also a disappointment and Janus Henderson shares are now near 52-week lows.
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Motley Fool contributor Yulia Mosaleva owns shares of Commonwealth Bank of Australia. The Motley Fool Australia owns shares of and has recommended Blackmores Limited and Crown Resorts 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.