Why News Corp, Northern Star, REA Group, & Zip Co shares dropped lower

The Northern Star Resources Ltd (ASX:NST) share price and the REA Group Limited (ASX:REA) share price are two of four ending the week in the red…

| 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

In afternoon trade the S&P/ASX 200 index is on course to end the week on a disappointing note. At the time of writing the benchmark index is down 0.25% to 6,709.5 points.

Four shares that are falling more than most today are listed below. Here's why they are ending the week in the red:

The News Corp (ASX: NWS) share price is down 6% to $19.24 following the release of its first quarter update. During the three months ended September 30, News Corp reported a 7% decline in revenues to US$2.34 billion. On the bottom line the company posted a net loss of US$211 million. This compares to a profit of US$128 million a year earlier. This was is due to non-cash impairment charges of US$273 million relating primarily to its News America Marketing business.

The Northern Star Resources Ltd (ASX: NST) share price has crashed 8% lower to $8.86. Investors have been selling the gold miners today after trade deal optimism sent the gold price sinking lower. It isn't just Northern Star falling heavily. This afternoon the S&P/ASX All Ords Gold index is down by a sizeable 5.7%.

The REA Group Limited (ASX: REA) share price has dropped 3% to $103.38 after the release of its first quarter update. The property listings company disappointed investors with a 9% decline in revenue and a 14% decline in EBITDA. This was driven largely by a sharp decline in listing volumes in the key Melbourne and Sydney markets. REA Group also noted that listing volumes were down sharply during October despite a rebound in house prices.

The Zip Co Ltd (ASX: Z1P) share price is down almost 2.5% to $3.93. This decline appears to be down to profit taking after the payments company's shares rocketed higher on Thursday. Investors were scrambling to buy Zip Co's shares after it announced an agreement with Amazon Australia. That agreement has seen Zip Co added to the ecommerce giant's Australian website as a payment option immediately.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has recommended REA Group Limited. 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 Fallers

A businesswoman exhales a deep sigh after receiving bad news, and gets on with it.
Share Fallers

Why Bell Financial, IPD, Megaport, and Resolute Mining shares are falling today

These shares are starting the week in the red. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Megaport, Pilbara Minerals, Vysarn, and WiseTech shares are falling today

These shares are ending the week in the red. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Accent, Sayona Mining, Web Travel, and Weebit Nano shares are dropping today

These shares are having a tough time on Thursday. Why are they being sold off?

Read more »

A smartly-dressed man screams to the sky in a trendy office.
Share Fallers

Why Appen, DroneShield, PWR, and Webjet shares are sinking today

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

Read more »

a car driver sits up and looks alert with wide eyes and an expression of concentration while he holds the wheel of a car.
Share Fallers

Why this ASX All Ordinaries stock just crashed 24%!

Investors are punishing the ASX All Ords company today. Let’s find out why.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Elders, KMD, Lovisa, and Telix shares are dropping today

These shares are missing out on the good times on Tuesday. But why?

Read more »

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Life360, Lovisa, NAB, and Resolute shares are falling today

These shares are starting the week in the red. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Healthcare Shares

This ASX All Ords share is diving 18% as inflation pain draws blood

This healthcare company delivered a trading update at its annual general meeting today.

Read more »