ASX Profit Downgrades

[greenfs]

This forum has been established to identify trends that if sustained will lead to a permanent market correction in Australia

First we had Sigma (SIP) now some time ago.

Last week we had AGL Energy Limited (AGK) with a 17% downgrade with the MD now out looking for a new job and all shareholders, me included, worse off by a similar amount..

Today's Melbourne Age reports that Aristocrat (ALL) has advised the market that its forecast has been revised to AUD240M, which is 19% below the AUD297M average estimate of analysts and resulted in the sp falling by 14.6% to $11.55.

If anyone sees similar downgrades, I would welcome posts so that we can monitor the trend by using this thread. IMO it will not take many more for the market to become spooked as it has been the strong profit reporting that has sustained the market's strong performance to date.

 

[Ken]

Boral is warning of potentially wiping off 15 percent due to poor housing coniditions in NSW and the USA.

James hardie would have to be coming up with something similar you would think.

Newscorp has earnings in the US, and a stronger aussie dollar will wipe profits off them.

MIG will need to re-evaluate there assets in US dollars, which may also be playing apart in their re-rating.

Qantas will benefit from a stronger Aussie dollar when they purchase oil.

As will retailers like HVN and Pacific brands