Why Wesfarmers Ltd (ASX:WES) is among 4 shares falling today

Mineral Resources Limited (ASX:MIN) and Galaxy Resources Limited (ASX:GXY) shares are higher today.

| 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

The S&P / ASX200 (ASX: XJO) is up 0.4% to 5,666 points in morning trade after Wall Street posted gains across its major indices overnight with technology and healthcare shares pacing the markets higher. However, there are a number of local companies heading in the wrong direction for differing reasons today. Let's take a look at what factors might be sending them lower.

The Amcor Limited (ASX: AMC) share price is down 2.2% to $13.06 today despite the for plastics and cardboard packaging business releasing no specific news to the market. At its November 10 AGM, Amcor reconfirmed guidance for profit before income tax growth in both its flexibles and rigid plastics segments, with free cash flow forecast to come in between $200 million to $300 million. Amcor offers investors a decent dividend yield and exposure to growth in emerging and developed markets globally.

The Northern Star Resources Ltd (ASX: NST) share price is 2.5% lower to $8.19 today as gold shares head lower across the board as a risk-on sentiment returns back to capital markets. At times of uncertainty or poor confidence gold prices and miners tend to rise as investors see it as a hedge against falling markets. Northern Star carries no debt and has $277 million cash in hand to invest in further gold mining projects as it sees fit.

The Telstra Corporation Ltd (ASX: TLS) share price is down 1.1% to $2.96 despite the telco releasing no news to the market. Telstra shares have been under pressure for the past 3 years thanks to the impact of the government's NBN network replacing Telstra's old-style copper communication networks. Telstra still has a strong mobile business thanks to its best-in-class network, but is facing rising competition.

The Wesfarmers Ltd (ASX: WES) share price is 3% down to $30.97 today as investors continue to assess their value of the investment conglomerate after its decision to float its Coles Group Ltd (ASX: COL) supermarkets business. Today, Macquarie analysts reportedly slapped an "outperform" rating and $36.51 price target on Wesfarmers shares. The group has plenty of cash for acquisitions it is actively seeking, and much will depend on management's capital allocation competencies.

Motley Fool contributor Yulia Mosaleva owns shares of CSL Ltd. The Motley Fool Australia owns shares of A2 Milk. 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 Scott Phillips.

More on Share Gainers

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another disappointing day for ASX investors this Thursday.

Read more »

two men smiling with a laptop in front of them, symbolising a rising share price.
Share Gainers

Why Pinnacle, PWR, Race Oncology, and Vulcan shares are flying today

These shares are having a good session on Thursday. But why?

Read more »

A beautiful woman holds up one finger with one hand and has her hand on her waist with the other as she smiles widely as though she is very pleased about something.
Share Gainers

Why Boss Energy, Emeco, Mineral Resources, and Plenti shares are pushing higher today

These shares are having a good time on hump day. But why?

Read more »

Three small children reach up to hold a toy rocket high above their heads in a green field with a blue sky above them.
Share Gainers

3 ASX 300 shares going gangbusters on Wednesday

Investors are bidding up these three ASX 300 shares today. But why?

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a huge Tuesday for ASX shares, with the index resetting its record high.

Read more »