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Why Wesfarmers Ltd (ASX:WES) is among 4 shares falling today

The S&P / ASX200 (ASX: XJO) is up 0.4% to 5,666 points in morning trade after Wall Street posted gains across its major indices overnight with technology and healthcare shares pacing the markets higher. However, there are a number of local companies heading in the wrong direction for differing reasons today. Let’s take a look at what factors might be sending them lower.

The Amcor Limited  (ASX: AMC) share price is down 2.2% to $13.06 today despite the for plastics and cardboard packaging business releasing no specific news to the market. At its November 10 AGM, Amcor reconfirmed guidance for profit before income tax growth in both its flexibles and rigid plastics segments, with free cash flow forecast to come in between $200 million to $300 million. Amcor offers investors a decent dividend yield and exposure to growth in emerging and developed markets globally.

The Northern Star Resources Ltd (ASX: NST) share price is 2.5% lower to $8.19 today as gold shares head lower across the board as a risk-on sentiment returns back to capital markets. At times of uncertainty or poor confidence gold prices and miners tend to rise as investors see it as a hedge against falling markets. Northern Star carries no debt and has $277 million cash in hand to invest in further gold mining projects as it sees fit.

The Telstra Corporation Ltd (ASX: TLS) share price is down 1.1% to $2.96 despite the telco releasing no news to the market. Telstra shares have been under pressure for the past 3 years thanks to the impact of the government’s NBN network replacing Telstra’s old-style copper communication networks. Telstra still has a strong mobile business thanks to its best-in-class network, but is facing rising competition.

The Wesfarmers Ltd  (ASX: WES) share price is 3% down to $30.97 today as investors continue to assess their value of the investment conglomerate after its decision to float its Coles Group Ltd (ASX: COL) supermarkets business. Today, Macquarie analysts reportedly slapped an “outperform” rating and $36.51 price target on Wesfarmers shares. The group has plenty of cash for acquisitions it is actively seeking, and much will depend on management’s capital allocation competencies.

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Motley Fool contributor Yulia Mosaleva owns shares of CSL Ltd. The Motley Fool Australia owns shares of A2 Milk. 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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