At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is well and truly out of form and sinking lower. The benchmark index is currently down 1.7% to 6,945.2 points.
Here's what is happening on the market today:
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Appen restructure
The Appen Ltd (ASX: APX) share price is charging higher today after announcing a new organisational structure. The new structure is aligned to its product-led and customer-centric strategy. Management notes that the changes reflect Appen's evolution from being the leading provider of artificial intelligence (AI) data annotation services to the provider of a broad range of AI data annotation products and solutions that unlock growth in new markets. In addition to this, management reaffirmed its guidance for FY 2021.
EML Payments shares to return
The EML Payments Ltd (ASX: EML) share price is crashing lower today after returning from its trading halt. Investors have been selling the payments company's shares after the Central Bank of Ireland raised concerns over its PFS Card Services Ireland business. These concerns relate to PFS Card Services Ireland's Anti-Money Laundering/Counter Terrorism Financing (AML/CTF), risk and control frameworks, and governance. Management notes that 27% of its revenue goes through this business.
Webjet full year results
The Webjet Limited (ASX: WEB) share price is trading lower today after the release of its full year results. The online travel agent recorded total transaction value (TTV) of $453 million and revenue of $38.5 million in FY 2021. And despite cutting its expenses materially, Webjet posted an underlying loss of $88.8 million. One positive, though, was that management revealed that its performance improved greatly in April.
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the Appen share price with a 12% gain. This follows its restructure update. Going the other way, the worst performer has been the EML Payments share price with a massive 37% decline following its AML/CTF update.
