A number of disappointing company updates hasn't helped investor sentiment today and this has seen the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) trade sharply lower this afternoon. At the time of writing, the benchmark index has fallen more than 1% to 5,887 points.

The financials, materials and telecommunications sector have been the hardest hit today, while stronger performances have come from the healthcare and energy sectors.

Four shares that have been absolutely hammered today, include:

Pact Group Holdings Ltd (ASX: PGH)

The Pact Group share price has crashed more than 10% today after the packaging company painted a pretty bleak outlook for the year ahead. In a presentation released after the close yesterday it noted that demand conditions remain subdued with trading in April particularly weak in its rigid packaging businesses. Unfortunately, Pact Group now expects FY17 earnings will be generally flat on the prior year.

G8 Education Ltd (ASX: GEM)

The G8 Education share price has plunged more than 9% today on the back of a research note which suggests there could be a potential over-supply of childcare centres in Australia. Worryingly, it appears a large percentage of new centres are being opened within a very small radius to existing G8 Education centres. Following today's decline, the shares have now lost more than 18% over the past 12 months.

FlexiGroup Limited (ASX: FXL)

The FlexiGroup share price has dropped more than 5.1% today after the financial services company narrowed its FY17 guidance yesterday. The company was previously expecting to generate cash NPAT of $90 million to $97 million, but has revised this to $90 million to $93 million following a weaker-than-expected performance from its Certegy financing division.

Woolworths Limited (ASX: WOW)

Despite reporting a 4.5% increase in third quarter sales yesterday, the Woolworths share price has fallen 2.5% today to $26.70. It appears some investors are coming to the realisation that the sharp increase in sales is likely to come at a large cost to the company's bottom line. The disappointing performance and outlook for the Big W business could also be prompting investors to lock in profits today.

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Rising property prices have certainly made Australian households feel a lot wealthier over the past couple of years, particularly for those people who own property in Sydney and Melbourne.

Falling interest rates and an imbalance between supply and demand have been two of the major drivers behind property returns over recent years, but signs are now starting to appear which suggest the tide could be about to turn against property investors.

Unfortunately, a property downturn would also be bad news for the share market as a large number of companies are either directly or indirectly exposed to the housing market and the impact this has on consumer confidence.

With that in mind, here are three shares that I would avoid if the property market begins to crack:

Commonwealth Bank of Australia (ASX: CBA)

Australian banks are very highly leveraged to the property market which means their risks and returns are magnified during the upswings and downturns of the cycle. As Australia's largest lender, the Commonwealth Bank is perhaps the most exposed to the risks of the property market, contrary to what some risk-averse investors might think. The shares aren't particularly cheap at the moment either as they are currently trading at more than 15x earnings.

Lendlease Group (ASX: LLC)

Lendlease has operations across a number of markets and regions but the developer still generates a significant proportion of its earnings through the construction of high-rise apartment blocks in urban centres including Melbourne and Sydney. These markets have enjoyed very strong momentum recently, but I would be very concerned if the supply and demand balance moves in the opposite direction. The Lendlease share price has risen by more than 32% over the past year and I would be very tempted to lock in profits right now.

Harvey Norman Holdings Limited (ASX: HVN)

Retailers of household goods and furnishings have been some of the major beneficiaries of the housing boom and Harvery Norman has been no exception to this. Not only have consumers furnished new or renovated properties in rising numbers, the 'wealth effect' has also given people the confidence to go out and buy high-priced items such as new appliances and furniture. The threat of Amazon has hit the retail sector pretty hard over recent months, but a slowing property market could be an even bigger blow to a sector that is already out of favour.

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It hasn't been a great day for local investors today with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) reversing most of yesterday's gains with a fall of 0.6% to 5,921 points.

The financial and gold sectors are the clear losers today, while the consumer staples and energy sectors have managed to eke out some small gains.

Four shares that that have been crushed today, include:

MG Unit Trust (ASX: MGC)

The Murray Goulburn share price has crashed more than 12% today after the milk producer said it will close down three processing plants and write off $148 million in debts owed by farmers. Unfortunately, the outlook for the dairy sector is still underwhelming, with Murray Goulburn noting that it is still experiencing weaker trading conditions and will suspend its dividend to support its balance sheet.

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price has fallen more than 4% today, despite the absence of any news from the company. The shares are now at a new 52-week low and have fallen by more than 27% since the start of the year. Most of the decline can be attributed to management's guidance for slowing comparable sales growth for the remainder of FY17, although I think the baby retailer has also been impacted by the negative sentiment caused by Amazon's pending arrival into Australia.

Catapult Group International Ltd (ASX: CAT)

The Catapult share price has fallen more than 4.3% today after the sports analytics company said that it had successfully completed a $14 million placement. The new shares will be issued at $2 a share and the company will look to raise another $3 million through a share purchase plan. Catapult will use the new funds to make two acquisitions and support existing working capital requirements. Unfortunately, retail investors may decide to sit this capital raising out considering the shares are currently trading at just $1.97.

Australia and New Zealand Banking Group (ASX: ANZ)

The ANZ share price has fallen 2.5% today after its first-half profit report came in slightly below market expectations. Statutory profit was 6% above the prior corresponding period, but the group's net interest margin (NIM) fell 7 basis points to 2% and the interim dividend was kept flat at 80 cents per share. To be fair, there was always the chance of some profit taking today considering the shares have rallied more than 35% over the past 12 months.

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The Bellamy's Australia Ltd (ASX: BAL) share price has climbed 9% today, despite there being no news from the company.

As the chart below highlights, the shares have climbed sharply over recent days and have managed to gain nearly 40% over the past month.

The recent share price action would certainly have some investors scratching their heads since the infant formula company hasn't released any sales updates or provided any further information regarding its inventory levels.

Despite this, a number of positive market and corporate developments could be helping to boost investor sentiment and forcing some short sellers to cover their positions.

For example, Bellamy's major shareholders have been successful in getting a new management team and board of directors that they believe will get the company back on track. It appears investors agree and are growing more confident under the leadership of new CEO Andrew Cohen. Following two profit downgrades in quick succession, it became clear that the previous management team did not have a firm handle on the business or its outlook.

Another positive has been the appointment of renowned investor, John Ho, to the board. Mr Ho heads up Hong Kong based investment firm Janchor Partners and has extensive experience in investing in Australia and China. Janchor, along with Delta Partners, have also become major shareholders of Bellamy's which has been seen by the market as a massive vote of confidence in the company.

Bellamy's shares have also received a boost recently after news emerged that the Chinese government has delayed the implementation of some regulatory changes that would make it more difficult to export food products into China. While this is clearly a positive, it still remains unclear just how much of a short-term benefit this will provide companies like Bellamy's and Blackmores Limited (ASX: BKL).

Finally, some investors might be feeling more confident about Bellamy's prospects following the most recent impressive sales update from a2 Milk Company Ltd (Australia) (ASX: A2M). Based on this update, it is clear that Chinese demand for Australian baby formula is still strong and Bellamy's could actually be moving more stock than the market expected.

Should you buy?

Although the worst appears to be over for Bellamy's, I think it still might be a little too early to jump back in.

Instead, I would prefer to wait for some concrete evidence that the business has improved and that the company has been successful in moving the huge levels of inventory sitting on its balance sheet.

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The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) is trading near multi-year highs, so it's unsurprising to see so many shares making new 52-week highs.

Over the past week, a number of these shares have caught my attention, including:

Xero Limited (ASX: XRO)

The Xero share price has climbed more than 17% for the year-to-date, with much of the gains coming after the cloud accounting company announced that it has recently surpassed the 1 million subscriber mark. Although it is not yet profitable, the company is investing heavily for growth and I think patient investors will reap the rewards of these investments over time.

CSL Limited (ASX: CSL)

The CSL share price has climbed more than 32% for the year-to-date thanks to a strong first-half result and an optimistic outlook for the remainder of the fiscal year. The company has an impressive development pipeline, although the shares are starting to look a little too expensive for my liking and I would wait for a pull-back instead of buying the shares today.

Regional Express Holdings Ltd (ASX: REX)

Shares of the regional airline have soared more than 48% over the past 12 months thanks to lower fuel costs and a more upbeat outlook for the regional economy. The company believes they may have seen the bottoming of the decline in regional travel in the first half of the year and could be set-up for a major rebound if conditions continue to improve. Regional Express shares still look quite cheap on that basis, but remain a high risk play due to the high number of variables out of their control.

InvoCare Limited (ASX: IVC)

The InvoCare share price has been well supported after the funerals company announced that it would be scaling back its loss-making U.S. operations. The company will now turn its focus back to its core Australian businesses where it is the market leader. InvoCare should continue to deliver consistent earnings growth for many years to come, although the shares currently look fairly valued, trading on around 24x earnings and offering a dividend yield of 3%.

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Long-term investing sounds easy enough, but most investors know that buying and holding shares for more than a couple of years can be pretty tough.

There is always the temptation to lock-in profits or sell out as soon as there is a hint of bad news.

However, investing for the long term is a proven investment strategy that can be made even better through the power of compounding.

Although not every share on the ASX is suitable as a long-term investment, there are quite a number of very good candidates, including:

Nanosonics Ltd. (ASX: NAN)

Nanosonics is an emerging leader in the medical disinfection market thanks to its revolutionary trophon EPR system. The potential market opportunity is massive and the company is well placed to capture a large portion of this market as its system continues to gain global recognition as the gold standard.

Challenger Ltd (ASX: CGF)

The ever-expanding pool of superannuation money along with the ageing population are two huge tailwinds for Australia's leading annuities provider. Challenger has done a great job of marketing itself over recent years and I think annuities will only grow in popularity as more retirees look for less volatile income streams.

Blackmores Limited (ASX: BKL)

Blackmores' recent performance has been quite underwhelming, but I remain confident about the vitamin maker's longer term prospects. The company has a huge opportunity in the Asia Pacific region where the popularity of supplements and health products is growing in-line with the rise and wealth of the middle class. The shares look a little expensive at the moment, but I think Blackmores could offer great long term value at slightly lower prices.

Ramsay Health Care Limited (ASX: RHC)

The private hospital operator will have a major role in servicing the needs of an ageing population and simultaneously reducing the budgetary pressures on the government funded public sector. Ramsay has a proven international expansion strategy and I believe the company will continue to reap the rewards of an ever-increasing network of hospitals.

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It hasn't been a great end to the week for local investors with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) falling 0.2% to 5,905 points.

The materials, consumer staples and energy sectors have been the biggest drags on the market today, while stronger performances have come from the information technology, healthcare, and utilities sectors.

Four shares that are really feeling the pressure today, include:

ResMed Inc. (CHESS) (ASX: RMD)

The ResMed share price has dropped more than 3.4% today after the sleep apnoea company's third-quarter results came in slightly below market expectations. Revenues increased by 13% to US$514 million during the quarter, however profits were crimped by rising administration costs and expenses associated with its recent acquisition of Brightree. Despite today's fall, ResMed shares have still gained around 20% over the last 12 months.

Platinum Asset Management Limited (ASX: PTM)

The Platinum Asset Management share price has plunged more than 5.6% today after the fund manager announced a number of new initiatives aimed at attracting new investors. Along with the launch of two new exchange traded managed funds, the company will also be lowering the standard management fees on some of its funds from 1.5% to 1.35% p.a. However, Platinum has warned that FY18 revenues could fall by as much as 9% if the lower fee structure is not offset by new fees on the new products or other net inflows.

Select Harvests Limited (ASX: SHV)

The Select Harvests share price has plunged more than 8.3% today after a disappointing crop update. Unfortunately, the 2017 crop forecast is 5% to 10% below expectations as a result of higher-than-normal blank nut percentages in some orchards. On a more positive note, the company did note that the demand for almonds remains strong and that almond prices have stabilised with 65% of this year's crop already committed in the price range of $7.50-$8.00/kg.

Ten Network Holdings Limited (ASX: TEN)

The Ten Network share price has crashed by more than 20% today after a media analyst at Credit Suisse described the company as "un-investable". It comes on the back of yesterday's half-year result that revealed a $232 million loss and raised concerns around the survival of the television broadcaster. Ten is now at the mercy of its three largest shareholders who are now waiting to see if the business will improve before they stump up more cash or guarantee another loan.

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It hasn't been a great 12 months for the Platinum Asset Management Limited (ASX: PTM) share price with the international fund manager seriously lagging behind the rest of its peers.

Unfortunately, the shares have fallen by as much as 4.5% today after the company announced a number of new initiatives aimed at attracting new investors to its international funds.

Platinum has really struggled to grow its funds under management (FUM) over the past couple of years as investors have moved away from expensive active fund managers to cheaper passive index funds and exchange traded funds.

The company has also lost some large investment mandates recently as a number of its funds have struggled to outperform their respective benchmarks.

The net impact of this was clear to see in Platinum's most recent half-year result with earnings per share falling 20% on the back of shrinking management and performance fees.

Today's initiatives are aimed at reversing this trend and comprise of two main features:

The first will involve lowering the standard management fees on the Platinum Trust Funds and Platinum Global Fund from 1.5% to 1.35% p.a.

The second initiative will result in the launch of two new exchange traded managed funds (ETMF) in August 2017. This will allow investors to access Platinum's International and Asian equity strategies via the ASX.

While it is good to see the company is making an effort to get the business back on track, these new initiatives are not guaranteed to attract new funds unless Platinum can start to deliver outperformance.

In fact, the company has noted that these new initiatives could result in FY18 revenues falling by 9% if the lower fee structure is not offset by new fees on the new products or other net inflows.

Are the shares a buy?

Although the shares appear quite cheap, trading on around 15x earnings and offering a dividend yield of 6.2%, I think investors should not rush out to buy the shares today.

Instead, I would prefer to see an improvement in funds under management driven by a sustained period of outperformance that will deliver growth in both management and performance fees.

In the meantime, investors might want to consider some of the better performing fund managers on the ASX including BT Investment Management Ltd (ASX: BTT) and Magellan Financial Group Ltd (ASX: MFG).

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Investor sentiment has been positive over the last few months and this has seen quite a number of shares make new 52-week highs.

While the big end of town has propelled the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) to its own multi-year highs, a number of smaller shares have also performed quite strongly over the past few months.

Three top-performing shares that have grabbed my attention include:

Steadfast Group Ltd (ASX: SDF)

Steadfast Group operates the biggest general insurance broking network and underwriting agency group in Australia and New Zealand. The company has been able to deliver very strong earnings growth over the past couple of years, despite facing subdued insurance premium pricing over that time. Pleasingly, the company recently noted that market conditions appear to be improving and this has helped to propel the shares 23% higher for the year-to-date. The shares are currently trading on a forward price-to-earnings ratio of 30, which means investors might want to leave it on their watchlist for now.

Big Un Ltd (ASX: BIG)

Big Un is one of the more unique companies on the ASX and is involved in providing small to medium businesses with video technology products and services. As described by the company itself – "They are a video version of Tripadvisor and produce online destination guide TV shows". Although the $80 million company is still not profitable, its latest update did reveal some impressive growth numbers including a 532% increase in year-on-year content views. The Big Un share price has climbed 264% over the past year, although the shares are still a little too speculative for my liking.

Mesoblast limited (ASX: MSB)

The Mesoblast share price has been on fire over the past six months thanks to a number of positive announcements relating to FDA approvals, clinical trial results and a successful institutional capital raising. The good news is a welcome change for long-suffering shareholders who have been grappling with the stem cell company's lack of commercial progress for the best part of five years. Amazingly, the shares have climbed 186% over the past six months, which just goes to prove that Mesoblast is not a share for the faint hearted.

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The gold, healthcare, and industrials sectors are posting fairly healthy gains, while the energy, telecommunications and consumer staples sectors are weighing the market down.

Four shares that have managed to rise strongly today, include:

Blackmores Limited (ASX: BKL)

Despite starting the session on the back foot, the Blackmores share price has rallied more than 5% today following the release of its third quarter results.  Although the headline numbers were less than inspiring, it appears some investors are pleased with the progress the company is making in China. The vitamin maker's 'in-country' and export sales to China increased to $92 million in the first nine months, up 60% from this time last year.

Clean TeQ Holdings Limited (ASX: CLQ)

The Clean TeQ share price has spiked more than 14% today after the cobalt miner released a positive quarterly activities report. The company made a number of key appointments during the quarter and also said that its Syerston Nickel/Cobalt feasibility study was progressing as planned. Interestingly, management also commented on the recent slide in the share price, noting that it is "not aware of any issues that explain the recent trading activity".

Northern Star Resources Ltd (ASX: NST)

The Northern Star Resources share price has climbed more than 5.2% today after the gold miner released another outstanding quarterly activities report. The company mined more than 132,000 ounces of gold in the quarter and remains well on track to meet its FY17 production targets. Pleasingly, production costs also fell during the quarter to just $988/ounce. Northern Star finished the quarter with no bank debt and $393 million in cash and investments.

Qantas Airways Limited (ASX: QAN)

The Qantas share price has soared nearly 4.5% today after analysts suggested the airline has room for $500 million a year in share-buy backs over the next three years. This could potentially increase its earnings per share by 32% and would be more prudent than paying dividends to shareholders since Qantas won't have franking credits until FY19. The shares are also getting a nice boost today thanks to the overnight drop in crude oil prices.

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Finding high-quality shares at reasonable prices is no easy task at the moment.

Many of the best-performing companies are trading on extraordinarily high valuations which can expose new investors to an unacceptable level of risk.

Instead of rushing out and chasing these shares, it might be better to remain patient and wait for a more attractive entry point.

With that in mind, here are thee shares I would love to buy – but only at cheaper prices:

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price has absolutely smashed it over the past five years and it is not surprising when you consider the huge level of earnings growth the travel company has achieved through the combination of organic growth and earnings accretive acquisitions. However, at around 35x earnings, the shares are looking fully valued especially since the company will find it more difficult to generate huge levels of growth without bigger and bigger acquisitions.

Aristocrat Leisure Limited (ASX: ALL)

Aristocrat continues to surprise the market with stronger-than-expected results and this has seen its share price double over the past 12 months alone. The gaming company enjoys a rock-solid market position in established regions, but is also generating strong growth from new segments such as online gaming. Aristocrat shares are currently trading on around 26x forecast earnings which I think is more than fair for a company that is expected to grow its bottom line between 20% to 30% this financial year.

CSL Limited (ASX: CSL)

The CSL share price has rallied around 30% for the year-to-date and is currently trading at all-time record highs of around $130 per share. While I would not be surprised to see the shares continue to rally from here, I think CSL is the type of share that often presents temporary buying opportunities for the patient investor. As a result, I would prefer to wait for the market to take some profits before buying this leading healthcare company.

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It can be tempting to buy shares that appear to offer huge dividend yields, but I think this is a strategy that is likely to end in disaster.

In most cases, the market is giving investors a warning that the current dividend is unsustainable and that a dividend cut isn't too far away.

Instead of looking at the highest yielding shares, why not consider buying shares that offer slightly lower dividend yields, but have much stronger underlying business fundamentals and solid growth prospects.

For example, these three shares offer dividend yields of more than 4% and are well placed to deliver capital gains over the long term:

Mantra Group Ltd (ASX: MTR)

The Mantra share price has been in the doldrums lately but the company itself continues to perform quite strongly. The hotel operator has been a key beneficiary from the booming tourism sector, which continues to gather momentum thanks to the stunning growth of inbound tourists from Asia. Despite some market concerns, Mantra reaffirmed its FY17 guidance yesterday and is currently offering a fully-franked dividend yield of 4.1%

Vocus Group Ltd (ASX: VOC)

The Vocus share price has also been under pressure over the past few months as an increasing number of short sellers have circled around the telecommunications company. Despite this, the current risk-reward proposition looks appealing considering the company is still generating good levels of growth from its wholesale and retail divisions. Although the shares might be stuck in the dog house for a while longer yet, shareholders can still pick up a fully-franked dividend yield of around 4.2%.

Folkestone Education Trust (ASX: FET)

Folkestone is one of my preferred property investment options thanks to the favourable long-term outlook for the child care sector in Australia and New Zealand. The trust currently has 402 properties in its portfolio with an impressive occupancy rate of 99.5%. There is also a large pipeline of new developments under construction that should help to underpin earnings growth in the medium term. Folkestone has increased its distributions by around 9% per annum since 2011 and is currently yielding 5.1%.

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The Telstra Corporation Ltd (ASX: TLS) share price has fallen more than 16% for the year-to-date, but I still think investors have far more attractive options to choose from.

Not only is the giant telco struggling to grow its earnings, but the sustainability of its dividend is also under threat. This means the shares are likely to remain under pressure until management can turn the huge ship around.

Since this is unlikely to happen anytime soon, investors might want to consider these two small-cap shares instead:

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price has been hammered recently and is now trading at just $1.86 – a 42% discount from its 52-week high of $3.21.

Most of the fall can be attributed to a lowering of earnings expectations after management warned that same-store-sales growth would moderate to more reasonable levels over the remainder of the year.

While this was disappointing, I think it is important to note that the baby retailer is still guiding for FY17 EBITDA growth of between 15% to 31%.

On that basis, Baby Bunting is still one of the fastest growing retailers on the ASX and currently offers an attractive risk-reward proposition for investors who want exposure to a niche segment of the retail market.

The shares are currently trading on a forward price-to-earnings ratio of less than 20 and offer a forecast dividend yield of around 3.2%.

Paragon Care Ltd. (ASX: PGC)

Paragon Care is a small-cap healthcare company that specialises in providing medical equipment to hospitals and aged care facilities.

The company has done a good job of integrating acquisitions recently but still stands to benefit from additional synergies that should provide a boost to operating margins.

Although I don't expect Paragon Care to deliver huge increases in profits year-after-year, I think it can be a consistent performer as the needs of the healthcare system continue to grow.

At just 13x earnings, Paragon Care is one of the cheapest healthcare shares on the ASX and also offers a fully-franked dividend yield of around 3.3%.

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Global share markets have been rallying nicely over the past two days and this is helping to drive the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) higher today. At lunchtime, the benchmark index was 0.8% higher to 5,918 points.

The financials sector has been the biggest contributor to today's gains, while the mining and gold sectors have struggled as a result of falling commodity prices.

A number of shares have missed out on today's rally, including:

Beadell Resources Ltd (ASX: BDR)

The Beadell Resources share price has plunged more than 19.4% today after the gold miner released a weaker-than-expected third quarter update. Unfortunately, production volumes fell 11% over the prior corresponding period, while production costs increased significantly due to the strengthening of the Brazilian Real and additional capital expenditure. The bad news has also been compounded by the falling gold price and change in sentiment which saw a number of gold shares get crushed today.

Automotive Solutions Group Ltd (ASX: 4WD)

The Automotive Solutions share price hit the skids today after the auto-parts maker issued a massive profit downgrade. Although the company has only been listed on the ASX for four months, it has been forced to slash its EBIT prospectus forecasts by around 70% due to increasing competition, deferral of customer orders and rising marketing costs. This is clearly a bad look for a recently listed company and the market has been swift to react, sending the shares down by more than 60%.

Somnomed Limited (ASX: SOM)

The Somnomed share price has fallen 2.6% today after the company reported weaker-than-expected third quarter results from its U.S business. Unfortunately, the company now expects the volume of devices sold globally to reach 67,000 (revised from 71,000), combined revenues to be $50 million to $53 million (compared to $56 million) and EBITDA to be a loss of $1.5 million (revised from break-even). Despite the downgrade, the sleep treatment company still looks well positioned to deliver improved results over the next few years.

Blackmores Limited (ASX: BKL)

The Blackmores share price has dropped more than 2.3% today, despite the absence of any news from the company. I suspect some investors are selling out of the vitamin maker and buying a2 Milk Company Ltd (Australia) (ASX: A2M) instead after the milk company announced another upgrade to its full-year sales guidance. Unlike Blackmores, a2 Milk does not appear to have been impacted by the proposed changes to Chinese import laws and this has seen strong support for the shares over recent months.

The post Why Somnomed Limited is among 4 shares falling today appeared first on The Motley Fool Australia.

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Although broker recommendations should never be relied upon solely for investment decisions, I still think they can provide investors with useful information and ideas.

With that in mind, here are three shares that Bell Potter has recently reviewed and rated as a 'buy':

National Australia Bank Ltd. (ASX: NAB)

Bell Potter is looking forward to NAB's first half result, which will be released on 4 May. The broker is forecasting cash NPAT of $3.2 billion alongside an interim dividend of 97 cents per share. Interestingly, this would represent a 2 cent decline in the dividend and a broadly flat earnings result from the prior corresponding period. Nonethless, the broker has placed a $35 price target on the shares – on the expectation that NAB has room for further costs savings and interest margin upside. Despite the broker's positive outlook, I believe the shares look fully valued and would be cautious buying at current levels.

RCG Corporation Ltd (ASX: RCG)

The RCG share price has been smashed over the past few months but Bell Potter believes the stock is well oversold and has set a 12-month price target of $1.70. The broker remains positive on the footwear company after Skechers USA Inc. reported strong third quarter sales in the US and made positive commentary relating to its international businesses including Australia. I tend to agree with Bell Potter that the shares are undervalued, although I think the market is likely to remain cautious until the company reports its full year results in August. The shares last traded at 91 cents.

Challenger Ltd (ASX: CGF)

The Challenger share price has performed exceptionally well over the past couple of years, but Bell Potter thinks there could be further gains to come and has set its 12-month price target to $14.70. It comes after the company released another impressive update last week that showed continued growth from the life annuities division. The broker believes Challenger's growth is set to accelerate even further and will be supported by the pending launch of AMP Limited (ASX: AMP) and BT Investment Management Ltd (ASX: BTT) annuities on its platforms. With the ageing population acting as a very strong tailwind, I will have to agree with Bell Potter on Challenger and like the shares as a long term 'buy and hold'.

The post Leading broker rates these 3 shares as a BUY appeared first on The Motley Fool Australia.

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Investors are enjoying a positive start to the shortened trading week, with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) rising 0.2% to 5,865 points.

The financials, information technology and industrials sectors have led the way higher today, while the materials and gold sectors have struggled to post any gains.

Four shares that have been hammered today, include:

Sirtex Medical Limited (ASX: SRX)

The Sirtex Medical share price has plunged more than 12.5% today after the company announced that its SARAH clinical trial failed to meet its primary endpoint of increasing patient survival rates compared to rival treatment, Sorafenib. The liver cancer treatment company did point to a number of positives from the trial including fewer side effects, but this may not be enough to move SIR-spheres up the line of available treatments.

Village Roadshow Ltd (ASX: VRL)

The Village Roadshow share price has crashed 9% today after the company warned that its theme park division could see a decline of up to 37% in earnings this year. Unfortunately, the tragic accident at Ardent Leisure Group's (ASX: AAD) Dreamworld theme park last October continues to weigh on visitor numbers and this has been compounded by cyclonic weather conditions in March and April. Today's share price decline means Village Roadshow shares have lost around 20% of their value for the year-to-date.

Coca-Cola Amatil Ltd (ASX: CCL)

After a shocking day last Friday, the Coca-Cola Amatil share price has continued to fall today, losing another 2% to $9.40. It comes after the beverage company downgraded its full-year guidance on the back of difficult trading conditions in the Australian beverages division. Unfortunately, the company is still facing fierce competition and is struggling to gain traction with its own range of 'healthier' options. Unsurprisingly, analysts have moved to downgrade the shares following the latest update.

FlexiGroup Limited (ASX: FXL)

The FlexiGroup share price has fallen more than 4% today, despite the absence of any news from the company. In fact, the company has not released any significant news to the market since its first-half results in February. Interestingly, the shares have been fairly subdued since the start of the year, which is in stark contrast to their performance during most of 2015 and 2016. It appears the market is becoming far more comfortable with the company's outlook under the guidance of a new CEO and CFO.

The post Why Sirtex Medical Limited is among 4 shares getting hammered today appeared first on The Motley Fool Australia.

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There has been a lot of speculation about Amazon Inc.'s arrival into Australia and it's not hard to see why this would have a lot of Australian retailers worried.

Anyone who has looked at the online retailer's U.S-based website will see quickly that nearly every retail category is pretty well covered.

Although Australian consumers won't have the full range of categories initially, you can be pretty sure that Amazon will look to expand its range fairly quickly if it can develop a fast and efficient method to ship products across the country.

As a result, I think it is important that investors take some time to understand which Australian retailers might be most exposed to the threat from Amazon.

With that in mind, here are the 10 ASX retailers that I think will be most heavily impacted by the arrival of Amazon:

Companies like JB Hi-Fi, RCG and Premier Investments have done a good job of growing their sales and profits recently, but this will become a much tougher task when Amazon arrives in full force.

There is also the possibility of margin contraction as local retailers lower their prices and range more items in an attempt to maintain their market share.

Foolish takeaway

Amazon will need some time to establish its operations in Australia and this means investors don't need to rush out and sell their retail shares immediately.

However, the longer term impact from Amazon is likely to be substantial and investors should take this into account when making a long term investment decision.

The post Revealed: 10 ASX shares that could get crushed by Amazon appeared first on The Motley Fool Australia.

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Falling interest rates has made investing in dividend shares a no-brainer, especially when you think about the high yields on offer and the tax benefits associated with franking credits.

However, a number of dividend shares have taken a beating over recent months and this might have some investors asking if they are now in bargain territory.

Three of these beaten-up shares include:

Retail Food Group Limited (ASX: RFG)

The Retail Food Group share price has fallen around 25% since the start of the year, despite the food retailer recently confirming it remains on track to deliver NPAT growth of around 20%. The company continues to expand its global footprint and just delivered its 21st consecutive dividend increase. I think the shares are currently undervalued as they trade on a very attractive price-to-earnings growth (PEG) ratio of just 0.6 and offer a sizeable dividend yield of 5.6%.

Telstra Corporation Ltd (ASX: TLS)

The Telstra share price hit a low of just $4 earlier this week after TPG Telecom Ltd's (ASX: TPM) decision to enter the mobile market. Unfortunately, the sustainability of Tesltra's dividend was already in question and this latest development just adds further uncertainty to the situation. I don't think investors should expect the current 31 cent dividend to be maintained past the next year and this means the current yield of 7.3% may be misleading. Until the company provides more guidance on its dividend policy, I would be inclined to remain on the sidelines.

RCG Corporation Ltd (ASX: RCG)

The RCG share price has more than halved in value since August last year, with the bulk of the falls coming after a small downgrade to its full year guidance. While this was disappointing, I think the market reaction has been overdone considering the company is still forecasting strong double digit earnings growth on the back of recent acquisitions and new store openings. The athletic clothing and footwear company now trades on a price-to-earnings ratio of less than 11 and offers a forecast fully-franked dividend yield of 6.8%.

The post 3 Beaten-up Dividend Shares: Are They Bargains? appeared first on The Motley Fool Australia.

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It looks like investors will finish the week off on a positive note with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) trading 0.7% higher at lunchtime.

The utilities, financials and materials sectors have been the biggest winners today, while the worst performers have come from the telecommunications and consumer staples sectors.

Four shares that are getting crunched today, include:

Coca-Cola Amatil Ltd (ASX: CCL)

The Coca-Cola Amatil share price has crashed more than 9.5% today after the beverage company released a disappointing market update. Unfortunately, first-half underlying net profit is expected to decline this year as a result of tough trading conditions impacting its Australian Beverages business. Investors were expecting Amatil to deliver mid-single-digit earnings growth this year, but this has now been downgraded to flat year-on-year earnings as a result of the latest update.

NIB Holdings Limited (ASX: NHF)

The NIB share price has fallen 2.5% today thanks to a broker downgrade. Bell Potter has cut the shares to a 'sell' from a hold, but has maintained its 12-month price target at $5.12. The broker believes the recently announced changes to the 457 visa program could impact the private health insurer's International Inbound business as tighter measures result in a decline in the volume of international workers. Bell Potter also notes that the shares have rallied strongly after its impressive first-half result and now is an opportune time to take profits.

Vocus Group Ltd (ASX: VOC)

The Vocus share price has fallen 2.6% today, despite the absence of any news from the company. The shares have been extraordinarily volatile over the past couple of weeks with a number of company specific issues and broader sector issues impacting on investor sentiment. There is little doubt that Vocus shares appear extremely cheap at current levels, although I expect the shares to remain volatile until the company releases its full-year results in August.

Zelda Therapeutics Ltd (ASX: ZLD)

Although the Zelda Therapeutics share price has plunged more than 9% today, the pot stock has still managed to record a rise of more than 300% since the beginning of March. The most recent gains come after the company announced plans to expand its clinical trial programme in Chile. Unlike some other pot stocks, Zelda is more focused on analysing the scientific research on cannabis treatments and formulations, rather than its cultivation and distribution.

The post Why these 4 shares are getting slammed on Friday appeared first on The Motley Fool Australia.

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If you are a retired investor, then having a reliable income stream is probably one of your top priorities.

Fortunately, this can be quite easily achieved by investing in a diversified portfolio of dividend shares.

Diversification is important as this will help to smooth out any bumps along the way and, at the same time, reduce the risk of a permanent loss of capital.

So with that in mind, here are three shares that could help to create an ideal portfolio for the retired investor:

Sonic Healthcare Limited (ASX: SHL)

Sonic Healthcare is a world-leading pathology and diagnostic imaging company. It has a massive global footprint which continues to expand through bolt-on acquisitions. The company has not cut its dividend over the last couple of decades and I am confident this trend will continue as its earnings will be underpinned by the ever-increasing demand for healthcare services. The shares are a little on the expensive side right now, although investors are still being offered a partially franked dividend yield of 3.5%.

Transurban Group (ASX: TCL)

Transurban is the ideal dividend share as the company operates monopolistic assets that generate very strong and reliable levels of cashflow. Unfortunately, the shares don't come cheap as the market has bid up the shares as a result of the low interest rate environment. The shares are still currently yielding around 4.3%, however I think investors should remain patient and wait for a yield of at least 5.0% before going all-in.

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

Soul Patts is the perfect example of how to create wealth through long term investing. The investment company has delivered a compound annual return of 16.8% over the last 40 years by buying and holding high-quality businesses over long periods of time. Importantly, Soul Patts recognises the importance of generating a growing income stream for shareholders and has achieved this objective with an unbroken record of dividend increases over the last two decades. The shares currently offer a fully franked dividend yield of 2.8%.

The post Retired? Here are 3 stocks you might want to buy appeared first on The Motley Fool Australia.

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