Severfield-Rowen plc (LON: SFR) slumps, while Findel plc (LON: FDL) and WH Smith Plc (LON: SMWH) fall modestly.
The FTSE 100 is powering up yet again, standing on a new 52-week high of 6,192 points as I write, 13 up on the day. That's just a shade away from the 6,200 level, which it could easily breach this afternoon.
The index of top UK stocks has been lifted by rises across the market today, with no individual sectors being responsible, though David Cameron's speech today has left European stock markets a little subdued.
Though the FTSE is hitting new heights, unfortunately not all of the constituents of the various indices are in the same boat. Here are three that are falling today, on various degrees of news:
Severfield-Rowen (LSE: SFR) shares crashed today, plunging 44p (36.4%) to 76p, after the firm issued a profit warning and sacked its chief executive. The structural steelwork specialist has been facing tough markets for some time, with its shares falling to a low point towards the end of 2012. But the price had been recovering.
In its second profit warning in two months, Severfield now tells us that cost overruns at London's "Cheesegrater" building could take it close to breaching its banking covenants, and that it has subsequently parted company with boss Tom Haughey -- he has been replaced by chairman John Dodds.
Shares in Findel (LSE: FDL) dropped 11% to 8.2p on the release of an interim management statement. But that's not too bad really, considering the price is up around 150% since last summer. The education resources supplier told us that sales in the 16 weeks to 22 January are 10.2% ahead of the same period last year and that, basically, the company's recovery is still on track.
After years of losses, the City is expecting the next few years to be back in profit, and there's even a return to dividends pencilled in for the year to March 2015 -- though that really is too far in the future to be considered reliable just yet.
An update from WH Smith (LSE: SMWH) sent the shares down 7.5p (1.2%) to 645p. But again, that comes on the back of a solid 12-month period that has seen the price gain more than 20%. For the 20 weeks to 20 January, the company saw a 4% fall in sales, with like-for-like sales down 5%.
But we were also told of "good profit performance" and a strongly improved gross margin, though there were no figures put on them. Smith's plan to return £50m in cash to shareholders through a share buyback plan is going to plan, with 2.48 million shares having been purchased so far at an average price of 638p.
Finally, how does Britain’s ace investor Neil Woodford avoid share price falls? He goes for a strategy of buying solid blue-chip shares paying dependable long-term dividends. And in doing so, he's built a record of beating the FTSE for nine straight years.
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> Alan does not own any shares mentioned in this article.