Insights

Why Flight Centre, Iress, Nitro, and Perseus shares are dropping today

These ASX shares are sinking on Tuesday…
The post Why Flight Centre, Iress, Nitro, and Perseus shares are dropping today appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.3% to 6,808.5 points.

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

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down almost 4% to $16.97. This morning the team at Credit Suisse responded to the travel agent’s latest update by putting an underperform rating and $14.00 price target on its shares. Elsewhere, Morgans has warned that Flight Centre’s earnings may not recover to pre-COVID levels until FY 2025.

Iress Ltd (ASX: IRE)

The Iress share price is down 9% to $10.71. Investors have been selling this financial technology company’s shares after it announced that its CEO is leaving. Iress’ CEO, Andrew Walsh, is retiring at the start of October after 21 years with the company and 13 years as its leader. Walsh will remain with Iress as a consultant until the end of January 2023. He will be replaced by Marcus Price.

Nitro Software Ltd (ASX: NTO)

The Nitro share price has crashed 26% to $1.20. This follows the release of the document productivity software company’s quarterly update. Although Nitro delivered strong growth during the first half, it has cut its guidance for the full year. This is because management has decided to balance its pursuit of annual recurring revenue growth while accelerating its cash flow breakeven goals.

Perseus Mining Limited (ASX: PRU)

The Perseus Mining share price is down 3.5% to $1.63. This morning this gold miner released its fourth quarter update. Although Perseus delivered production and costs in line with its guidance in FY 2022, investors appear disappointed with the company’s FY 2023 half-year guidance. Management is expecting its all-in sustaining cost (ASIC) to increase 5% to 15% during the first half.

The post Why Flight Centre, Iress, Nitro, and Perseus shares are dropping today appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of July 7 2022

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

ASX 200 midday update: Iress sinks on CEO exit, Flight Centre shares descend
Iress share price drops 9% on news of CEO departure
Why is the Nitro share price crashing 29% on Tuesday?
5 things to watch on the ASX 200 on Tuesday
Here are the top 10 ASX 200 shares today

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Rebate Rewards

Level 2 Rebate

Deposit $2,000 and get $200 Rebate
$ 200 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $2,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $200 Rebate
Popular

Level 1 Rebate

Deposit $1,000 and get $100 Rebate
$ 100 Rebate
  • 3 Simple Steps
  • 1. Register Using The Link Below (Promo-Code: WEBREBATE)
  • 2. Deposit $1,000 and place one trade at any non-Austalian market within 30 calendar days
  • 3. Receive Your $100 Rebate

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here To Get Started
EASY QUALIFICATION & LOW ENTRY
NEW CLIENT REBATE OFFER
EARN UP TO $200 CASH REBATE
Act Fast - Promotion Ends In
Click Here For More Info