MENU

Why Aristocrat Leisure Limited is among 4 shares tumbling today

The S&P / ASX200 (ASX: XJO) is 0.8% higher in lunchtime trade today with mining and technology shares pacing the index higher on the back of rising commodity prices and improved sentiment to the tech sector respectively. Unfortunately though there are several shares moving into the red for different reasons, so let’s take a look at some of today’s fallers.

The Bingo Industries Ltd (ASX: BIN) share price is down 6.2% to $2.13 today after the Australian Competition and Consumer Commission (ACCC) released a preliminary view that its acquisition of rival “Dial-a-Dump” would reduce competition in the waste disposal sector, particularly in Sydney. Bingo wants to buy “Dial-a-Dump” for $577.5 million, but the deal might be on hold for now.

The Biotron Limited (ASX: BIT) share price is down another 15.6% or 2.5 cents to 13.5 cents today and has now lost around two thirds of its value since hitting a 45 cents high in October 2018. The biotech has been hyped up on the back of some Phase 2 clinical trial results it reported on a drug it has developed to help treat HIV patients. However, it seems punters are taking a more sceptical approach to its short-term chances of success for now.

The Elders Ltd (ASX: ELD) share price is down 3% to $6.80 despite the famous agribusiness releasing no specific news to the market. Yesterday the company announced a new deal with Rural Bank that it reports would have lifted EBIT 5%-10% if it had been implemented in FY 2018. On November 12 the group reported annual net profit up 9% to $5.3 million, although the stock has given up ground since this time last year.

The Aristocrat Leisure Limited (ASX: ALL) share price is 4.6% lower to $24.91 after the gaming or pokie machine manufacturer reported a net profit of $616.9 million on operating revenue of $3,624 million for the financial year ending September 30, 2018 today.

The profit and revenue are up an impressive 25% and 48% over the prior fiscal year. The group also forecast continued growth in 2019, albeit with growth skewed to the second half. Despite the strong result it seems it was not as strong as expected in an outcome that has triggered share price falls.

Motley Fool contributor Yulia Mosaleva has no position in any of the stocks mentioned. 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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now