MENU

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

In early afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for a disappointing finish to the week. At the time of writing the benchmark index is down 1.15% to 5,692.9 points.

Four shares that are falling more than most today are listed below. Here’s why they are ending the week in the red:

The Aristocrat Leisure Limited (ASX: ALL) share price is down 4.5% to $24.31. On Thursday the gaming technology company released its full year results. Although it achieved impressive sales and profit growth in FY 2018, its result fell short of market expectations. This morning a note out of Credit Suisse revealed that it still classes its shares as a buy, but it has reduced the price target on them to $30.00.

The Coca-Cola Amatil Ltd (ASX: CCL) share price has crashed 13.5% lower to $8.74 following the release of its investor day presentation. Investors have been heading to the exits in a hurry today after management warned that 2019 would be another “transitional year” for the beverage company. In addition to this, the company advised that it plans to divest its struggling SPC business.

The Coles Group Ltd (ASX: COL) share price has dropped almost 3.5% to $11.98. Today’s decline appears to be related to reports that Woolworths supermarkets has complained that some local suppliers may be giving Amazon better pricing than our largest supermarket chains. According to the AFR, Amazon Australia is undercutting the supermarket giants by as much as 50% on household staples.

The CSR Limited (ASX: CSR) share price has tumbled 4.5% to $2.98. This decline is likely to be attributable to a broker note out of Goldman Sachs. According to the note, the broker recommends buying building materials companies with international exposure and selling those exposed predominantly to the ANZ market like CSR. Goldman has a sell rating and $2.70 price target on its shares.

Top 3 ASX Blue Chips To Buy For 2019

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 2019.

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in a 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.

See the 3 blue chip stocks

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended Coca-Cola Amatil 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.