Why Ardent Leisure, BWX, Mayne Pharma, & New Hope are sinking lower

BWX Ltd (ASX:BWX) and Mayne Pharma Group Ltd (ASX:MYX) shares are sinking lower on Friday. Here's why they are down in the dumps…

| 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/ASX 200 index has followed the lead of U.S. markets and has dropped lower on Friday. In afternoon trade the benchmark index is down 0.2% to 7,147.6 points.

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

The Ardent Leisure Group Ltd (ASX: ALG) share price is down 5.5% to $1.28. Investors have been selling the entertainment company's shares following the release of its half year results. The Dreamworld operator posted a net loss of $22.5 million for the half. This was slightly above its net loss of $21.8 million in the prior corresponding period. The Theme Parks business once again weighed heavily on its performance.

The BWX Ltd (ASX: BWX) share price is down 5.5% to $4.36. This follows the release of its half year results this morning. The personal care products company delivered strong profit growth in the first half thanks to growth across the business. However, it retained its guidance for the full year. I suspect some investors were expecting an upgrade. After all, its shares had recently hit a 52-week high.

The Mayne Pharma Group Ltd (ASX: MYX) share price has fallen almost 6% to 37.7 cents. Investors have been selling the pharmaceutical company's after it released a disappointing half year result. For the six months ended December 31, Mayne Pharma reported a 17% decline in revenues to $227.2 million and a 42% decline in underlying EBITDA to $47.4 million. This was driven by tough conditions in the U.S. generic drugs market.

The New Hope Corporation Limited (ASX: NHC) share price has sunk 11% lower to $1.66. This follows speculation that Mitsubishi Materials Corporation has offloaded its 11.2% stake in the company. These rumours appear to have some substance given that over 100 million shares have changed hands today. As a comparison, 3.8 million shares were traded on Thursday.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX 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

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

The worst 3 ASX 200 stocks to buy and hold in October unmasked

You would have done well to avoid these three ASX 200 stocks in October.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why AFT, Amcor, Corporate Travel, and Macquarie shares are falling today

These shares are ending 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 AGL, Imugene, Star, and Woolworths shares are dropping today

These shares are dropping on Thursday. Let's see why investors are selling them.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Fallers

Why Corporate Travel Management, JB Hi-Fi, Mineral Resources, and Syrah shares are rising

These shares are having a strong session. Why are investors buying their shares?

Read more »

A guys points his fingers down.
Share Fallers

Why Brainchip, Cettire, Star, and Woolworths shares are being sold off today

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

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Black Cat, BlueScope, Cettire, and Coronado shares are falling today

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

Read more »

a business man in a suit holds his hand over his eyes as he bows his head in a defeated post suggesting regret and remorse.
Share Fallers

Why Adriatic Metals, Metcash, Paladin Energy, and Westgold shares are tumbling 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.
Share Fallers

Down 36% in 3 weeks, why is the Mineral Resources share price getting hammered again on Friday?

ASX investors are bidding down Mineral Resources shares again on Friday.

Read more »