Cape (LSE: CIU) and San Leon Energy (LSE: SLE) fall badly.
The FTSE 100 (UKX) isn't really recovering any of last week's losses yet, as it's up only 15 points to 5,785 points at the time of writing. Last week's US market falls and downbeat eurozone economic news seem to have spoiled investors' appetites for shares at the moment.
The index itself might be flat, but there are still plenty of individual companies moving -- sadly, some downwards. Here are three that are dropping today...
Shares in Cape (LSE: CIU) crashed 69p (26%) to 192p after the third profit warning this year, leading to finance director Richard Bingham and the oil-and-gas services firm to part company, by mutual consent.
We were told of "substantial deterioration" in the group's Australian division, which included both poor operational performance and discrepancies uncovered in its balance sheet relating to the valuation of some items. While the investigation into the accounts is ongoing, full-year expectations remain "uncertain".
San Leon Energy
The San Leon Energy (LSE: SLE) share price had a similarly bad day, plunging 14% to 8.3p after the announcement of the acquisition of fellow oil and gas explorer Aurelian Oil & Gas (LSE: AUL). The all-share deal will exchange each Aurelian share for 1.3 new San Leon shares, giving existing San Leon shareholders 34% of the merged company, and existing Aurelian shareholders the other 66%.
FirstGroup (LSE: FGP) fell a little today, losing a modest 1% to 187p, after the travel operator announced the sale of its Birkenhead and Chester bus operations to Stagecoach (LSE: SGC), as part of plans to get rid of low-margin businesses and focus on services with stronger growth potential.
FirstGroup shares are now down over 20% since the cancellation of the West Coast rail franchise, and down around 45% over the past 12 months.
How does Britain's ace investor Neil Woodford avoid the big falls like these three companies have suffered? He goes for a strategy of buying solid blue-chip shares paying dependable long-term dividends. And in doing so, he keeps on beating the FTSE year after year.
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> Alan does not own any shares mentioned in this article.