The big banks have led the market lower, after the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) began the day positively. In the end though, the market couldn't keep its head in the green, ending 5 points down, virtually flat for the day.
While the big four were on the nose today, they fared much better than some stocks, which were crushed by the market.
Here's our view on five of them…
iProperty Group Ltd (ASX: IPP) dropped 15.9% to $2.12, after the company released its quarterly results. Investors were clearly not impressed by the 10% growth in cash receipts, compared to the same period last year. They were also clearly not happy that two of iProperty's countries of operation are now profitable. Seems to me the market is taking a rather short term view of things…
Ziptel Ltd (ASX: ZIP) saw its shares lose 13.6% to 35 cents, and continues to be a volatile stock. Over the past five days the shares have gained 75%, despite today's losses, as the company released some positive news, including signing a milestone agreement with one of India's leading digital mobile advertising companies, Airloyal. Ziptel has developed an app that allows users to use low quality mobile networks to access and transfer data, voice calls and chat.
Vocation Ltd (ASX: VET) continues to fall, losing another 8% today to close at 91.5 cents, after falling 57% yesterday. News that the corporate watchdog ASIC is investigating the education provider and lawyers Maurice Blackburn are considering a shareholder class action, suggest more pain could be headed the company's (and shareholders) way.
Alchemia Limited (ASX: ACL) is another company continuing to experience a falling share price, with shares losing 6.7% today. Shares are now down 85.6% since October 23, after the company reported disappointing results for its Phase III trial into a cancer treatment drug it was working on. The company says it is reviewing the results to find out what went wrong, and perhaps find something positive they can work on.
Domino's Pizza Enterprises Ltd. (ASX: DMP) saw its shares drop 4.2% to $26.53. Yesterday, Domino's reported strong growth in same store sales for the first quarter of the 2015 financial year, and upgraded its full year guidance to 25% growth over 2014 underlying net profit. Investors may have been expecting more, given the company is currently trading on a hefty trailing P/E ratio of 49.4x.
