The Motley Fool

Why Kogan, Northern Star, Paradigm, & Wagners shares tumbled lower today

The S&P/ASX 200 Index has continued its strong run and pushed higher again on Wednesday. In afternoon trade the benchmark index is up a further 0.9% to 6,377.8 points.

Four shares that have failed to follow the market higher on Wednesday are listed below. Here’s why they have tumbled lower:

The Kogan.com Ltd (ASX: KGN) share price has dropped 3.5% lower to $5.65. Today’s decline appears to be related to news that analysts at UBS have downgraded the ecommerce company to a neutral rating from buy after a strong share price rally over the last few days. Whilst the broker acknowledges that the risk is to the upside for Kogan’s earnings, it believes that this has been priced in now.

The Northern Star Resources Ltd (ASX: NST) share price is down 2% to $8.30 following the release of a disappointing third quarter update from the gold miner. During the third quarter Northern Star fell short of the market’s expectations due to weak production and higher costs at its Pogo operation. At one stage its shares were down as much as 6%.

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price 2% to $1.61 after announcing the completion of its institutional entitlement offer. Paradigm successfully raised approximately $9.8 million. The retail component of the entitlement offer has now opened, with the company aiming to raise a further $16.5 million at $1.50 per share.

The Wagners Holding Company Ltd (ASX: WGN) share price has sunk 10.5% to $2.02 after advising that it has failed to settle its cement supply pricing dispute with Boral Limited (ASX: BLD). As a result, Wagners has now filed a Statement of Claim in the Supreme Court of Queensland against Boral seeking a determination through the Courts of the matters currently under dispute. In addition to this, Wagners has reduced its FY 2019 EBIT guidance by $10 million to account for the litigation, disruption faced by the cement business, conditions in the precast concrete market, and delays in projects starting.

Need a lift after these declines? Here are three quality ASX shares tipped to climb higher by a leading analyst.

Our Top 3 Blue Chip Shares for 2019 – NOW AVAILABLE!

You’re invited! For a limited time, The Motley Fool Australia is giving away an urgent new investment report detailing our 3 TOP BLUE CHIP SHARES to own in 2019.

So if you like trustworthy, stable, high-performing companies that pay fat fully franked dividends – we’ve got you covered!

Stock #1 is a beloved old Australian company turning its attention to high-margin businesses... and rapidly returning cash to shareholders with its hefty dividend...

While Stock #2 is an online powerhouse that’s rapidly gaining market share all around the globe... poised for years (or even decades) of tremendous growth...

Even better, Stock #3 offers a whopping 6.5% grossed-up dividend! Which beats the rates on term deposits right out of the water – and offers the potential for capital gains, too.

You can discover all three shares inside our new report right now. To scoop up your FREE copy, simply click the link below right now. But you will want to hurry – this free report is available for a LIMITED TIME ONLY!

SimplyCLICK HERE FOR YOUR FREE REPORT!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Kogan.com ltd. 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