At lunch on Wednesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from its lows but is still down a disappointing 0.25% to 6,169.9 points.
Here's what has been happening on the market today:
McMillan Shakespeare-Eclipx merger hits the rocks.
The Eclipx Group Ltd (ASX: ECX) share price has been smashed on Wednesday and is down a whopping 48% at lunch. Investors have been hitting the sell button after McMillan Shakespeare Limited (ASX: MMS) suggested it would be impossible to complete its proposed merger. In addition to this, a trading update from Eclipx revealed that its financial performance had softened since its last update at the end of January.
Nufarm disappoints.
It has been a disappointing day of trade for the Nufarm Limited (ASX: NUF) share price. The crop protection and specialist seed company's shares have fallen 16% after the release of a disappointing half year result. Due partly to tough conditions in the Australia market, Nufarm fell well short of the market's expectations. This led to the company suspending its dividend and downgrading its full year EBITDA guidance.
Blackmores names new interim CEO.
The Blackmores Limited (ASX: BKL) share price is on the rise on Wednesday after the struggling health supplements company announced that its outgoing CEO would be leaving earlier than expected. He will be replaced by Marcus Blackmore, the son of founder Maurice Blackmore, on an interim basis.
WiseTech Global raises $300 million.
The WiseTech Global Ltd (ASX: WTC) share price has returned from its trading halt and is down 5% at lunch. The logistics platform provider's shares were halted yesterday whilst it sought to raise $250 million via a placement of shares. Due to increased demand, WiseTech Global ended up raising $300 million at $20.90 per share. These funds will be used to strengthen its balance sheet and support its growth.
Best and worst performers.
The best performer on the ASX 200 at lunch is the Corporate Travel Management Ltd (ASX: CTD) share price which has pushed 4% higher following the release of an investor presentation. Going the other way is the Nufarm share price with its 16% decline, closely followed by the New Hope Corporation Limited (ASX: NHC) share price which has fallen a further 12%. The coal miner's shares have fallen heavily since the release of a disappointing half year result on Tuesday.
