4 shares sinking on the ASX today

These 4 companies saw their share prices sink by more than 9%

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is up just 0.3% in late afternoon trading, but still looks headed to end the week down around 0.4%.

Looking at the sectors, gold was the biggest loser, dropping 2.8%, while information technology and the consumer discretionary sectors were the best performers gainers, rising 1.5% and 1.4% respectively.

That didn't help these 4 shares, which saw losses of more than 9%.

Mobile Embrace Ltd (ASX: MBE) saw its share price drop another 12.4% to 12.7 cents, following yesterday's huge fall. The mobile marketing and carrier billing company downgraded earnings guidance yesterday by around 18%. Investors appear concerned that the one-off event impacting the company may not be one-off and could impact the company down the track as well.

Integral Diagnostics Ltd (ASX: IDX) shares fell 13.5% to $1.28 after the diagnostic imaging company said there were ongoing inconsistency in referral patterns and volumes are highly volatile. The company says its volumes are up 4% in the first four months of FY2017, but slightly under their expectations. As a result, the first half of FY2017 earnings are expected to be ~10% lower than the previous years.

Silver Chef Limited (ASX: SIV) share price dropped 9.8% to $9.99. The commercial equipment rental and financing company today reported that it had been a victim of fraud, which was expected to cost the company $2.3 million – around 10% of its net profit for the FY2017 year. Silver Chef also says it expects to take several steps to prevent it happening again, but will be forced to take higher provisioning for bad debts and impairments in its GoGetta business.

Whitehaven Coal Ltd (ASX: WHC) share price dropped 9.3% to $2.54, after China relaxed working day restrictions which should see coal prices ease. Chinese officials had restricted output to cut back on pollution and perhaps to reduce supply and increase prices. Unfortunately, that saw coking coal prices quadruple and thermal coal prices soar. The move to relax restrictions could see coal supplies boom again – bad news for the coal price and coal miners like Whitehaven.

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »