The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) closed down 0.2% at 5,335.20 today, as large oil stocks dragged the market down. It was a similar result to US markets overnight, with the Dow Jones also down 0.2% and the S&P 500 0.3%.
Capitol Health Ltd (ASX: CAJ) saw its share price sink 34.5% to $0.37, after the diagnostic imaging company announced that revenues were down between 4% and 6% below expectations. Capitol Health said its Victorian operations were performing weaker than its recent acquisitions in NSW. The company says it's too early to say whether the trend will continue, but will provide a further trading update at its AGM on November 16, 2015.
Dick Smith Holdings Ltd (ASX: DSH) saw its share price crash 33.5% to $0.85, also after releasing a profit downgrade today. The consumer electronics retailer says it expects 2016 financial year net profit to be between $5 million and $8 million lower than its previous guidance of between $45 million to $48 million. The retailer issued its previous guidance just over two months ago, so the downgrade came as a shock to many in the market.
Godfreys Group Ltd (ASX: GFY) saw its share price plunge 13.0% to $2.00, despite no news from the vacuum retailer. The company's share price has plunged more than 44% in the past six months, perhaps over concerns about future growth in sales. Godfreys had predicted a stronger second-half of the 2016 financial year, but that may be more hope than realistic expectations. Still, today's price appears very cheap, even if the retailer is having a rough year.
iSelect Ltd (ASX: ISU) saw its share price fall 8.6% to $1.59, after the company announced that its chief financial officer had resigned due to family reasons. The insurance and utilities comparison website business has had a chequered history since listing on the ASX since listing in mid-2013. CEO Matt McCann quit shortly after the IPO due to apparent differences of opinion with the board. Shares slumped from the issue price of $1.85 and dropped to just above $1.00 in mid-2014. Given the government has both a free health insurance comparison website and a utilities comparison site, one wonders why anyone would bother using iSelect.
