Why these 4 ASX shares have started the week in the red

The Bellamy's Australia Ltd (ASX:BAL) share price is one of four starting the week in the red. Here's why…

| More on:
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

It has been a positive start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index has put Friday's wobbles behind it and is 0.7% to 5,733 points.

Unfortunately not all shares on the market have been able to follow the market higher today. Here's why these four shares have started the week in the red:

The Ansell Limited (ASX: ANN) share price is down 3% to $20.94 following the release of its full-year results. The healthcare company reported group earnings before interest and tax of $217.8 million in FY 2017, down 8% from $236.7 million in FY 2016. This was lower than analysts had expected, leading to today's decline.

The Bellamy's Australia Ltd (ASX: BAL) share price has tumbled 3% to $8.42 despite there being no news out of the infant formula company. But with its shares up sharply last week following news that its newly acquired Camperdown facility had regained its CNCA registration, I feel today's decline is likely to be a result of profit taking.

The Kogan.com Ltd (ASX: KGN) share price has continued to sink lower, this time by over 5% to $2.08. After peaking at $2.70 at the start of the month, the online retailer's shares have now sunk a whopping 23%. It appears as though investors are finally coming to the realisation that the imminent launch of Amazon in Australia could have a huge impact on Kogan's business.

The Resapp Health Ltd (ASX: RAP) share price has fallen almost 6% to 8.3 cents. Today's fall extends the digital healthcare company's decline to over 73% in the last month. Investors have been heading to the exits in their droves following its recent clinical trial failure.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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 »