Shortly after midday, the local S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) was trading 0.3% lower.
However, shares of the following four companies were being thrown out.
- Qantas Airways Limited (ASX: QAN) – down 4%
Shares of Qantas sunk more than 4% lower today despite the company announcing a statutory half-year profit of $983 million for the period ended 31 December 2015. The company also announced a $500 million share buy-back and further investment in services for passengers. Qantas CEO Alan Joyce said, "This record result reflects a stronger, leaner, more agile Qantas." However, overnight, oil prices rallied.
- BC Iron Limited (ASX: BCI) – down 7%
Embattled junior iron ore miner, BC Iron, today saw its share price discounted despite an overnight rally in iron ore prices. In a statement to the ASX this morning, BC Iron updated the market on its litigation against mining services contractor, Watpac Limited (ASX: WTP). BC Iron stated that Watpac served a defence and counterclaim in proceedings against the company on 19 February 2016. BC Iron says it will defend Watpac's claims and keep the market informed of any updates.
- iSentia Group Ltd (ASX: ISD) – down 10%
iSentia Group shares went into a nosedive this morning following the release of its half-year report. In the six-month period ended 31 December 2015, iSentia reported a 22% increase in revenue and 6.8% rise in net profit. During the reporting period, iSentia acquired King Content Pty Limited for $46.6 million. The new business contributed $8.4 million to the company's revenue line and a profit after tax of $1.4 million. It added $30.9 million in goodwill.
- IPH Ltd (ASX: IPH) – down 13%
IPH Ltd shares fell sharply today following the release of its half-year financial report. Despite the intellectual property rights firm announcing a 65% jump in revenue to $66.35 million and 43% increase in profit, shares were sold off. The company reported some impairments, but revised its dividend policy and enabled the board to pay a dividend equivalent to 11 cents per share.
