3 ASX stocks that lost more than 5% today

ASX falls just 0.1%, but these three companies servicing the resources sector were hammered

Mike King

Mike King is a Fool.com.au Investment Analyst and Writer. He caught the investing bug more than a decade ago, at a time when the U.S. had invaded Iraq and fear reigned in the markets. His initial success as the markets took off encouraged his passion and thirst for knowledge. With 13 years behind him at one of Australia's largest domestic banks, Mike's passion for stocks led him to join a boutique funds management firm, where he stayed for four years. A seven-year stint in equity research at one of the largest investment banks in the world followed that, giving Mike a thirst to pursue his passion further. Mike holds a Diploma in Applied Finance and Investment and a Graduate Certificate in Financial Planning. His passion is to help retail investors invest better, and that passion was one of his primary reasons for joining The Motley Fool Australia in late 2011. Mike has written thousands of articles since joining, including for Fairfax Media, Yahoo!7, Ninemsn and has also appeared on ABC's The Business. You can see all of Mikes' holdings here

Published November 23, 2012 5:32 pm AEDT

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has fallen 0.1%, after US markets were closed overnight for Thanksgiving. With virtually no leads, the market fell early, but then recovered much of the falls over the course of the day. The Utilities sector was the best performer, rising 1%, while the Information Technology sector was the worst, losing 0.6%.

The Australian dollar was steady against the US dollar, currently buying 104.0 cents.

These three stocks, all servicing the resources sector, fell more than 5%.

Ausdrill Limited (ASX: ASL) saw its shares crunched by 14.6%, to end at $2.10, after management revised financial year 2013 revenue growth to 20%, while net profit is expected to grow 15%, which was below analysts' estimates. The sector wide slowdown for Australian mining services companies has seen most of those companies hammered. With a significant debt load, Ausdrill may soon be at the mercy of its bankers if conditions continue to deteriorate.

ALS Limited (ASX: ALQ), ex-Campbell Brothers, shares fell 7.5% to close at $8.69, after the company reported that net profit after tax for the financial year ending March 2013, will be in the range of $235 to $255 million. The company also announced that its Reward Distribution was struggling in a contracting market and the company was seeing a decline in geochemical sample flow, due to subdued sentiment in the exploration sector. That has implications for the company's minerals division – its largest.

Construction and engineering firm, Decmil Group Limited (ASX: DCG) lost 5.9% to end at $2.41, possibly by association with the mining services sector. Primarily a builder, operator and owner of accommodation villages, similar to Fleetwood Corporation (ASX: FWD), Decmil's share price has experienced a bumpy ride since February and despite its ups and downs, is still trading around the same price it was then.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. The Motley Fool's purpose is to help the world invest, better. Take Stock is The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Click here now to request your free subscription, whilst it's still available. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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