It's been another poor day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) which have both fallen 0.3% following a weak lead set by international equity markets and further weakness in commodity prices.
Here are four stocks that are performing particularly poorly for the day:
Fortescue Metals Group Limited (ASX: FMG) exceeded its own iron ore shipping guidance during the 2015 financial year, sending 165.4 million tonnes of the commodity overseas. That wasn't enough to appease the market however which is still nervous about the impact further falls in the commodity's price will have on Fortescue's business and rightly so. The stock is down 5.3% today at just under $1.66 per share.
Liquefied Natural Gas Ltd (ASX: LNG) also plummeted 6.7% despite signing its first legally binding liquefaction tolling agreement with Meridian LNG Holdings, it provides for capacity up to 2 million tonnes per annum of LNG for 20 years. The shares now trade hands for $3.65, down from a 52-week and all-time high of $5 per share.
South32 Ltd (ASX: S32) fell 3.3% and is sitting just below $1.73 per share as a result of falling commodity prices and a poor quarterly production report yesterday. Although the results were mostly in line with the market's expectations, investors will still be disappointed with its US$1.9 billion worth of impairment charges with the potential for more write-downs in the future if market conditions don't begin to improve.
Orthocell Ltd (ASX: OCC) shares plummeted 15.6% after rising as much as 18.8% earlier in the session. Orthocell has performed incredibly well since the beginning of the month, jumping a whopping 158% as of yesterday's closing price of 80 cents. It's likely that investors are simply taking some of their profits off the table in case the stock takes a turn for the worse.
