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ASX 200 lunch time report: Appen, Bellamy’s, & Woolworths lower

At lunch the S&P/ASX 200 index has failed to follow the lead of U.S. markets and has dropped lower. At the time of writing the index is down 0.2% to 6,489.7 points.

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

Appen sinks lower.

The Appen Ltd (ASX: APX) share price has sunk lower on Thursday despite the release of a strong half year result. This morning the global leader in the development of high quality, human-annotated training data for machine learning and artificial intelligence reported a 60% increase in revenue to $245.1 million and an 81% increase in underlying EBITDA to $46.3 million.

Woolworths result.

The Woolworths Group Ltd (ASX: WOW) share price has dropped lower following the release of the conglomerate’s full year results. In FY 2019 Woolworths posted sales from continuing operations of $59,994 million and normalised earnings before interest and tax from continuing operations of $2,724 million. This was a 3.4% and 5% increase, respectively, on the prior corresponding period. A strong second half performance by its Food businesses drove the solid result.

Ramsay impresses.

The Ramsay Health Care Limited (ASX: RHC) share price is up 1.5% at lunch following the release of a solid full year result. The private hospital operator announced a 24.4% increase in revenue to $11.4 billion thanks to the acquisition of the Capio business. On the bottom line Ramsay posted a core net profit after tax of $590.9 million, which was a 2% increase on the prior corresponding period and in line with its guidance.

Best and worst performers.

The best performer on the ASX 200 index at lunch is the Ausdrill Limited (ASX: ASL) share price with a 10.5% gain. This morning the mining services company reported a 14.2% increase in full year revenue to $1,970 million and a 15.4% lift in underlying EBIT to $217 million. Going the other way is the Appen share price with its 10% decline. After which, the Bellamy’s Australia Ltd (ASX: BAL) share price is the next worst performer with a 5% decline. Its shares have come under pressure since the release of a soft full year result.  

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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 Appen Ltd. The Motley Fool Australia has recommended Bellamy's Australia and Ramsay Health Care 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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