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ASX 200 lunch time report: Domino’s, Woolworths, & WiseTech shares fall

At lunch on Wednesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to end its winning streak and is down 0.25% to 6,092.2 points.

Here’s what has been happening on the market today:

A2 Milk shares storm higher.

The A2 Milk Company Ltd (ASX: A2M) share price is closing in on an all-time high and up 8.5% at lunch following the release of its half year results. In the first half the dairy and infant formula company posted a 41% increase in revenue to NZ$613.1 million and a 55.1% jump in net profit after tax to NZ$152.7 million.

Domino’s disappoints.

The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is down 5.5% at lunch after the pizza chain operator’s half year result fell short of expectations. Although revenue rose 23.7% to $702 million, net profit after tax only increased 8.4% to $68.2 million during the half. In addition to this, management advised that its full year earnings are expected to be at the low end of its guidance range.

WiseTech shares crash lower.

The WiseTech Global Ltd (ASX: WTC) share price has sunk 12% lower despite the logistics platform provider releasing an impressive half year result. It looks as though the market had anticipated another increase to its guidance, but management held firm with its previous guidance range.

Woolworths shares slide lower.

The Woolworths Group Ltd (ASX: WOW) share price is down almost 5% at lunch after the release of a disappointing half year result. For the six months ended December 31, Woolworths posted a 2.3% increase in sales to $30,587 million and a 2.1% increase in net profit after tax to $920 million. Management also warned that trading conditions are expected to be tough for its Australian Food business in the second half. This also led to the Coles Group Ltd (ASX: COL) share price being dragged lower.

Best and worst performers.

The best performer on the ASX 200 on Wednesday has been the Emeco Holdings Limited (ASX: EHL) share price which is up 15%. Its shares fell heavily on Tuesday after its half year results fell short of expectations. Going the other way is the McMillan Shakespeare Limited (ASX: MMS) share price which has fallen 18% after posting a 3.9% decline in half year UNPATA to $42.6 million.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk, COLESGROUP DEF SET, and WiseTech Global. The Motley Fool Australia has recommended Domino's Pizza Enterprises 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.

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