It was a busy day of trade to kick off the week, with the ASX 200 falling lower on Monday.
The S&P/ASX 200 Index (INDEXASX: XJO) slumped 0.56% or 38.20 points lower to 6,755.60 points at the day’s close.
Here’s a recap of the biggest announcements and stock movements on another huge Monday of trade.
1. Appen share price leads ASX 200 gainers on Monday
Appen increased its FY19 earnings before interest, tax, depreciation and amortisation (EBITDA) guidance on Monday.
The Aussie tech stock is expecting underlying EBITDA of $96 million to $99 million, up from $85 million to $90 million previously.
This is the latest in a long line of earnings upgrades from the top performing Aussie tech stock.
Appen shares led all comers on the ASX 200 on Monday following the strong growth news.
2. Smartgroup shares plummet lower on lower earnings
The Smartgroup Corporation Ltd (ASX: SIQ) share price was hammered 14.06% lower on the ASX 200 on Monday.
Smartgroup announced a change of CEO and earnings update prior to the market open.
CEO Deven Billimoria intends to retire with the current CFO, Tim Looi, taking over after the FY 2019 results.
Smartgroup also said it expects to report NPATA of $81 million in FY 2019, representing a 3.8% increase on FY 2018 levels.
The Smartgroup share price plummeted lower on the news to close at $9.45 per share.
3. iSignthis shares remain suspended
iSignthis Ltd (ASX: ISX) shares are in an ASX-imposed trading halt ‘until further notice’.
The back and forth continued between the company and the ASX over the 6-week suspension of its shares.
The company’s half-year revenue has been in the spotlight, considering it went from $5 million in June 2018 to just $1.09 million through to December 2018.
iSignthis shares remain unchanged at $1.07 per share having last traded on 1 October.
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Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen 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.
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