The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has broken through the 5,800 points level today thanks to positive offshore leads and some better-than-expected results from the likes of Commonwealth Bank of Australia (ASX: CBA) and Wesfarmers Ltd (ASX: WES).
Unsurprisingly, the financials and consumer staples sectors have led the market higher with weaker contributions coming from the utilities and telecommunications sectors.
Four shares that haven't been well-received by investors today include:
Primary Health Care Limited (ASX: PRY)
The Primary Health Care share price has crashed more than 11.8% today following another disappointing profit result. The company's first-half underlying profits fell by 14.7% to $41.9 million as a result of a sharp decline in earnings from its medical centre division. Unfortunately, the weak first-half result means shareholders are unlikely to see any profit growth for the full-year.
Domino's Pizza Enterprises Ltd. (ASX: DMP)
The Domino's Pizza share price has plunged more than 14% today, despite reporting a strong surge in half year profits. The pizza maker even upgraded its full-year earnings guidance but it appears this was still not enough to meet the lofty expectations of some investors. Domino's did highlight that it was investigating some employee entitlement breaches and this could also be hampering the share price today.
IOOF Holdings Limited (ASX: IFL)
The IOOF share price has dropped by more than 8% today after announcing a 17% fall in underlying net profit for the first-half. This was a disappointing result for the financial services company considering it enjoyed strong equity market conditions and a solid increase in funds under management in the second half of 2016. Despite the fall in profit, IOOF maintained its interim dividend at 26 cents per share.
Seven West Media Ltd (ASX: SWM)
The Seven West Media share price has crashed more than 5.7% today after it reported a 27.7% decline in first-half underlying earnings before interest and tax (EBIT). The weak result was driven primarily by a large jump in operating costs associated with covering the Olympics. The media company has retained its full year guidance on the back of the result, but has noted that advertising conditions remain soft.
