Business
Why CIMIC, Crown, Domino’s, & Praemium shares are tumbling lower today
In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is back on form and pushing higher. At the time of writing, the benchmark index is up 0.5% to 6,856.4 points.
Four ASX shares that have failed to follow the market’s lead today are listed below. Here’s why they are under pressure:
The CIMIC share price has crashed 16% lower to $21.88 following the release of its full year results for FY 2020 this morning. While the contractor reported a sizeable jump in profits, this growth was driven entirely by the sale of a 50% stake in the Thiess business. Underlying profit fell 25% year on year. The company’s cash flows were also weak, which appears to have alarmed investors.
The Crown share price has returned from its trading…
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