In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down 0.1% to 5,751 due partly to a number of large-cap shares going ex-dividend.
Four shares which have fallen more than most today are listed below. Here's why they are dropped lower:
The Bellamy's Australia Ltd (ASX: BAL) share price has continued to sink lower, this time by 4% to $7.77. This means the infant formula company's shares have fallen around 14% from its high point last Thursday as traders take profit. I can't say I'm surprised by this and believe its shares climbed too high too quickly.
The Computershare Limited (ASX: CPU) share price is down 4% to $13.87 following the release of its full-year results. Despite the investor services company reporting a 69% increase in statutory profit lifted to $266 million, the market appears to have been expecting more.
The CSL Limited (ASX: CSL) share price has fallen almost 4% to $122.56 after the biotherapeutics company reported full-year underlying net profit after tax growth of 24% on a constant currency basis to $1,337 million. As strong a result as this was, it was slightly below the market's expectations. I would suggest investors snap up shares today at this cheaper price.
The iSelect Ltd (ASX: ISU) share price has fallen 14% to $1.74 after its full-year profit growth fell short of analyst expectations. Although the price comparison company posted a 39% lift in earnings per share to 7.1 cents, analysts at Credit Suisse had forecast earnings per share of 8%. I think iSelect could be good value after this decline.
