Home Sports Why shares of Brambles, James Hardie, Seek and Sezzle are sinking

Why shares of Brambles, James Hardie, Seek and Sezzle are sinking

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In the afternoon trade, S & P / ASX 200 index (ASX: XJO) fights hard to stay in positive territory. At the time of writing, the benchmark index has risen 0.2% to 7,108.7 points.

The four ASX stocks that failed to track the market above are listed below. Here’s why they’re drowning:

Shares of Brambles fell 8% to $ 10.70. Investors are selling shares of the logistics solutions company after it is discovered takeover talks with CVC Capital Partners failed. Brambles is now focusing on implementation Shaping our future transformation plan.

James Hardie Industries plc (ASX: JHX)

James Hardy’s share price fell 3% to $ 37.61. And this despite the construction materials company fourth quarter update showing 20% ​​growth in global net sales for the quarter to $ 968 million. This was the basis for James Hardy’s global net sales growth of 24% year on year to $ 3.6 billion in fiscal year 2022. However, this was slightly less than the consensus estimates.

Seek’s share price fell 4% to $ 24.36. Perhaps this was caused by the issue of the bear brokerage banknote Goldman Sachs. Its analysts maintained the sales rating and lowered the target price for the company’s shares on vacancies to $ 26.60. Goldman expects strong revenue growth in fiscal 2022, but then an extremely sharp slowdown in fiscal 2023.

Sezzle shares fell 6.5% to 64.5 cents. Investors are selling the purchase and are now paying for the supplier’s shares later due to weakness in the technology sector. In addition, reissuing its quarterly update may not help with moods. A few weeks after the initial release, Sezzle reminded investors of the slowdown in growth and significant losses.

https://www.fool.com.au/2022/05/17/why-brambles-james-hardie-seek-and-sezzle-shares-are-sinking/

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