Business
Why AGL, Mesoblast, WiseTech, & Woodside are dropping lower
In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. At the time of writing, the benchmark index is down 0.4% to 6,642.2 points.
Four shares that are falling more than most today are listed below. Here’s why they are dropping lower:
The AGL share price is down 3% to $12.17. Investors have been selling the energy company’s shares after it downgraded its guidance on Monday afternoon. AGL now expects its net profit after tax to be in the range of $560 million-$660 million, down from $500 million-$580 million previously. This represents an 11% reduction at the midpoint. This led to analysts at Morgans cutting their price target on the company’s shares to $11.18 this morning.
The…
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