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Why Aristocrat, Catapult, CBA, and Mineral Resources shares are dropping

These ASX shares are in the red on Thursday…
The post Why Aristocrat, Catapult, CBA, and Mineral Resources shares are dropping appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) is having a better day. In afternoon trade, the benchmark index is up 0.1% to 7,376.8 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Aristocrat Leisure Limited (ASX: ALL)

The Aristocrat Leisure share price is down 3.5% to $45.62. This is despite the gaming technology company releasing a strong full-year result. For the 12 months ended 30 September, Aristocrat delivered a 14.4% increase in revenue to $4.7 billion and an 81% lift in normalised NPATA to $864.7 million. It appears as though some investors were expecting an even stronger result.

Catapult Group International Ltd (ASX: CAT)

The Catapult share price is down 5.5% to $1.55 following the release of the half-year update from the sports analytics and wearables technology company. Investors appear to be overlooking significant improvements in key metrics and focusing on a reduction in Catapult’s EBITDA compared to the same period last year. However, this was largely due to the planned transition from capital to subscription deals.

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price is down almost 1.5% to $97.68. Investors have continued to sell this banking giant’s shares after brokers responded negatively to its first-quarter update. One of the most bearish brokers is Morgans, which has retained its reduce rating and cut its price target to a lowly $73.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price has fallen 4% to $39.35. This follows the release of the mining and mining services company’s annual general meeting update. At the event, the company downgraded its production guidance for the Yilgarn operation for FY 2022 to 8–8.5mt. Management also advised that iron ore prices are significantly down and operating costs are under pressure.

The post Why Aristocrat, Catapult, CBA, and Mineral Resources shares are dropping appeared first on The Motley Fool Australia.

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More reading

Nick Scali (ASX:NCK) share price lifts as CBA boosts holding

CBA (ASX:CBA) share price dips despite the launch of discount green loans

Why is the NAB (ASX:NAB) share price outperforming the other big banks over the past month?

Top brokers name 3 ASX shares to sell today

ASX 200 (ASX:XJO) midday update: Aristocrat falls on results, Evolution shares jump

Motley Fool contributor 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 and has recommended Catapult Group International Ltd. The Motley Fool Australia owns shares of and has recommended Catapult Group International Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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