S&P/ASX 200 Index (ASX: XJO) shares are taking a beating today, down 1.78% to 7,180.6 points at lunchtime.

The ASX 200 is falling after a poor trading session in the United States overnight. The Dow Jones Industrial Average Index (DJX: .DJI) fell by 1.66%, the S&P 500 Index (SP: .INX) dropped 1.85%, and the Nasdaq Composite Index (NASDAQ: .IXIC) was down by 2.05%.

However, the three ASX 200 shares below are also down today because they're trading ex-dividend.

This means any investor who buys these ASX 200 shares today will not be entitled to the recently declared dividend.

Let's take a look at the details.

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is down 4.7% to $3.08 at the time of writing.

The 1H FY23 report for this ASX 200 share revealed a $94.4 million underlying net profit after tax (NPAT). This was 17.1% down on the prior corresponding period (pcp).

Thus, there was a flow-on effect to dividends with an 11% cut pcp. Insignia Financial declared a 10.5 cent per share interim dividend with 50% franking payable on 3 April.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price is slipping 1.07% to $63.82 at lunchtime on Friday.

WiseTech reported a 40% increase in underlying NPAT to $108.5 million for 1H FY23. Its free cash flow also increased by 53% to $137.8 million.

The company declared a massively boosted interim dividend of 6.6 cents, up 39% pcp, fully franked. The ASX 200 company will pay shareholders on 6 April.

Downer EDI Ltd (ASX: DOW)

This ASX 200 share is in the red, too, down 0.5% to $3.28 at the time of writing.

The engineering and construction business reported a 20% drop in profit for 1H FY23. The company said its revenue was higher, but costs also increased due to bad weather, labour shortages, and other things.

The interim dividend was consequently slashed by 58% pcp to 5 cents per share unfranked. Downer will pay its shareholders on 11 April.

Possibly also contributing to the Downer share price dip today is an update from the Fitch Ratings agency.

Fitch affirmed its BBB credit rating on Downer and maintains a negative outlook.

The post 3 ASX 200 shares trading ex-dividend today appeared first on The Motley Fool Australia.

The Downer EDI Ltd (ASX: DOW) share price has been jumping in and out of the green on Friday amid news another of its leaders is stepping down.

The infrastructure and mining services provider revealed the immediate resignation of chair Mark Chellew this morning.

It's just the latest in a string of resignations at the S&P/ASX 200 Index (ASX: XJO) giant and follows the release of notably disappointing half-year earnings.

The Downer share price is currently 0.15% lower, trading at $3.275. It hit a low of $3.23 earlier today – a 1.5% slump – and a high of $3.33 – a 1.5% gain.

For comparison, the ASX 200 has lifted 0.32% right now.

Let's take a closer look at the latest executive exit at Downer.

Downer share price trades lower on Friday

The Downer share price is on a rollercoaster amid news Chellew will step down immediately after navigating what the company called "a challenging period".

Deputy chair Mark Menhinnitt is stepping up to the role of acting chair on Chellew's exit.

It comes just days after the resignation of chief financial officer Michael Ferguson was announced. Ferguson will stay with the company for another six months as his replacement is appointed and his responsibilities transitioned.

Not to mention, former CEO Grant Fenn stepped away from his role last month. Fenn's retirement was announced in December, with then-chief operating officer Peter Tompkins succeeding him.

Thanking Fenn for his contribution to the company in December, Chellew said:

Grant has been the driving force in reshaping this business. He has provided strong leadership during often difficult times.

Speaking of difficult times, the Downer share price plunged 24% on Monday when the company revealed yet another profit downgrade. It came amid a lost utilities contract and wet weather impacts.

It now forecasts it will post between $170 million and $190 million of underlying profit after tax and before amortisation of acquired intangible assets (NPATA) for the financial year 2023.

The company posted $225.3 million of underlying NPATA last fiscal year.

The post Downer share price dips amid latest leadership turmoil appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) regained some of its Monday losses today, closing 0.47% higher at 7,258.4 points.

Leading the charge were energy stocks, with the S&P/ASX 200 Energy Index (ASX: XEJ) gaining 1.5% with the Woodside Energy Group Ltd (ASX: WDS) coming in as its best performer.

The energy giant posted its full-year earnings – detailing a US$5 billion profit – yesterday.

The S&P/ASX 200 Materials Index (ASX: XMJ) also posted a strong session's trading, gaining 1.5% following yesterday's 3.15% tumble.

On the other hand, the S&P/ASX 200 Utilities Index (ASX: XUJ) slumped 1.3% on Tuesday, weighed down by the 1.7% fall in the Origin Energy Ltd (ASX: ORG) share price.

So, with all that in mind, which ASX 200 share outperformed all others to post today's biggest gain? Let's take a look.

Top 10 ASX 200 shares countdown

Today's top-performing ASX 200 stock was De Grey Mining Limited (ASX: DEG). It gained 7.7% to close at $1.395 amid a positive note from a top broker.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top ten ASX 200 shares today appeared first on The Motley Fool Australia.

But let's try not to let this set the tone for the week. So instead of dwelling on that sobering metric, it's time now to check out the shares that are currently at the top of the ASX 200's share trading volume charts at present, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

Downer EDI Ltd (ASX: DOW)

Our first ASX 200 share up this Monday is the engineering and construction company Downer EDI. So far this session, a decent 19.58 million Downer shares have been exchanged on the ASX. There is a good reason for this high volume, and it isn't a pleasing one.

Downer reported its half-year earnings this morning, and it was a bit of a horror show. As we covered at the time, the company announced a 20.3% drop in profits and a 58% cut to its dividend. In response, the Downer share price has cratered by a depressing 22.73% – no wonder so many shares are flying around.

Sayona Mining Ltd (ASX: SYA)

Next up, we have an ASX 200 lithium stock in Sayona Mining. This Monday has had a sizeable 20.93 million Sayona shares say sayonara to their old shareholders. There hasn't been much in the way of news or announcements out of Sayona today though.

So this high volume could be the result of the movements in the Sayona share price itself. Sayona isn't having nearly as bad a day as Downer. But this lithium share is still down a meaty 2.13% at 23 cents a share after falling as low as 22 cents earlier this morning. It's this drop that looks like it has caused this elevated volume on display.

Pilbara Minerals Ltd (ASX: PLS)

Our third and final share this Monday is another ASX 200 lithium stock in Pilbara Minerals. This session has seen a substantial 29.95 million Pilbara shares trade hands as it currently stands. There hasn't been any news out from Pilbara either today.

But you would think there would be, judging by the massive losses we are currently seeing in this company's share price. Pilbara shares are presently down by a not-too-pleasing 7.06% at $4.21 each. It's this sell-off that looks to be prompting this high trading volume.

The post Here are the 3 most heavily traded ASX 200 shares on Monday appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are sinking:

Appen Ltd (ASX: APX)

The Appen share price is down 13% to $2.39. This morning, the struggling artificial intelligence data services provider released its full-year results and reported a sizeable decline in sales. Things were even worse on the bottom line, with Appen swinging from a US$40.6 million profit in FY 2021 to a US$22.8 million underlying loss in FY 2022. Management also revealed that it has had a soft start to FY 2023.

Downer EDI Ltd (ASX: DOW)

The Downer EDI share price is down 23% to $3.06. Investors have been selling this integrated services company's shares after it released its half-year results. Downer reported a 2.9% increase in revenue to $6.1 billion but a 20.3% decline in profit to $68.1 million. Management blamed the latter on unprecedented weather, labour shortages, and contract and project losses in its utilities segment. Downer also downgraded its full-year guidance again.

Fortescue Metals Group Ltd (ASX: FMG)

The Fortescue share price is down 7% to $20.85. Some of this decline is due to the iron ore miner's shares trading ex-dividend this morning. Eligible shareholders can now look forward to receiving this dividend towards the end of next month.

InvoCare Limited (ASX: IVC)

The InvoCare share price is down over 10% to $9.91. Investors have been selling this funerals company's shares after its full-year result disappointed the market. Invocare posted a 12% increase in revenue but a loss of $1.8 million. The latter was impacted by an unrealised mark-to-market revaluation of pre-paid funds under management and contract liabilities.

The post Why Appen, Downer, Fortescue, and Invocare shares are crashing today appeared first on The Motley Fool Australia.

The share price of S&P/ASX 200 Index (ASX: XJO) industrials company Downer EDI Ltd (ASX: DOW) is plummeting after it posted disappointing half-year earnings.

Right now, the stock is down 20.58%, trading at $3.145.

Downer share price crumbles on disappointing earnings

Here are the key takeaways from the engineering, construction, and maintenance business' first half results:

• $68.1 million of profit ­– a 20.3% fall on that of the prior comparable period (pcp)
• $6.1 billion of revenue – up 2.9%
• $129.8 million of earnings before interest and tax (EBIT) – down 22.5% on the pcp
• Basic earnings per share (EPS) slipped 21.8% to 9.3 cents
• 5 cent per share final dividend declared – down from the pcp's 12 cent offering

The company said that, while it posted higher revenue, its earnings were impacted by unprecedented weather, labour shortages, and contract and project losses in its utilities segment.

Its utilities segment saw its revenue lift 12.3% to $1.1 billion. However, its earnings before interest and tax and amortisation of acquired intangible assets (EBITA) plunged to a $5.2 million loss.

Meanwhile, its transport segment saw a 1.2% increase in revenue to $2.7 billion while its EBITA fell 14.5% to $88.7 million. Finally, its facilities segment brought it $2.3 billion of revenue and $99 million of EBITA – up 11.8% and 11.1% respectively on the pcp.

Downer's expenses also rose 3.3% last half to $178.2 million.

What else is going on with the company today?

As readers might remember, Downer revealed a major accounting error in December. It has provided an update on the mistake today.

The company has investigated the errors and is confident the misreporting is only related to one specific contract. All up, the error meant its post-tax earnings were overstated by $22.2 million between April 2020 and June 2022.

The utilities management team responsible for the contract has been replaced while the company has restated its earnings for the impacted period.

What's next?

The Downer share price might also be being weighed down by the company's second guidance downgrade of financial year 2023.

It previously dropped its forecasted profit after tax and before amortisation of acquired intangible assets (NPATA) to between $210 million and $230 million

Today, it dropped its outlook for the measure once more to between $170 million and $190 million.

The latest downgrade comes on the loss of a utilities contract, risk of water project losses, a slowdown in Government minor capital works, and the impact of storms and flooding in New Zealand. Though, the company expects the latter to provide opportunities in financial year 2024.

Downer share price snapshot

Today's plunge sees the Downer share price in the year-to-date red, having fallen 14% since the start of 2023. It's also currently down 37% over the last 12 months.

For comparison, the ASX 200 has risen 4% year to date and 3% over the last 12 months.

The post ASX 200 share Downer crashes 21% on lower profit and guidance appeared first on The Motley Fool Australia.

Thursday was a rough one on the S&P/ASX 200 Index (ASX: XJO). It fell 0.53% to close at 7,490.3 points.

The index's slump followed an equally disappointing day on Wall Street, wherein the Dow Jones Industrial Average Index (DJX: .DJI) fell 0.6%, the S&P 500 Index (SP: .INX) slid 1.1%, and the Nasdaq Composite Index (NASDAQ: .IXIC) dumped 1.7%.

Back home, the S&P/ASX 200 Utilities Index (ASX: XUJ) was the worst-performing sector, dumping 2.7% after energy provider AGL Energy Limited (ASX: AGL) posted disappointing earnings.

The AGL share price fell 10.3% after the company revealed a $1.1 billion statutory loss for the first half.

The S&P/ASX 200 Real Estate Index (ASX: XRE) and the S&P/ASX 200 Information Technology Index (ASX: XIJ) also suffered, falling 1.6% and 1.1% respectively.

But some ASX 200 shares defied today's downturn to post notable gains. Let's take a look at 10 that managed to dodge the carnage.

Top 10 ASX 200 shares countdown

The index's biggest gain today was posted by the De Grey Mining Limited (ASX: DEG) share price. It rose 3% on news of the Mallina Gold Project's financing process.  

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

After a torrid week of mostly down days, the ASX 200 looks set to snap out of its recent slump and post a positive return this Friday. At the time of writing, the ASX 200 has added a healthy 0.58%, putting the index at just over 7,215 points.

So let's now dig a little deeper into these end-of-week moves and check out the shares that are presently at the top of the ASX 200's share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Friday

Downer EDI Ltd (ASX: DOW)

After its inaugural appearance for the week yesterday, engineering services company Downer again makes the ASX 200's most traded shares at this point of today's session. So far this Friday, a hefty 13.54 million Downer shares have been traded on the ASX boards.

Unfortunately for investors, this looks like a consequence of the depressing announcement Downer made yesterday.

The company fronted up to investors admitting that it had overstated $30-40 million worth of earnings. The Downer share price fell more than 20% on this news yesterday, and is down another 4% so far today to $3.66 a share.

Pilbara Minerals Ltd (ASX: PLS)

Next up we have ASX 200 lithium leader Pilbara Minerals. This session has had a sizeable 23.61 million Pilbara shares trade hands as it currently stands. There hasn't been much in the way of news or announcements out of Pilbara recently.

So this high volume is probably a byproduct of the share price falls that Pilbara is continuing to endure. Pilbara shares have been volatile today, breaking even several times over the session.

At present, the company has lost 0.78% and is down to $4.45 a share, but has traded between $4.38 and $4.54 today.

Core Lithium Ltd (ASX: CXO)

Our third, final and most traded ASX 200 share today is none other than Pilbara's fellow lithium stock Core Lithium.

This Friday has had a whopping 44.82 million Core shares bought and sold at this point. This could be a consequence of the dim outlook ASX broker Goldman Sachs came out with for Core this week.

As we covered at the time, Goldman has slapped a sell rating on Core Lithium, with a $1 per share price target. Core Lithium shares are down another 2.12% today, which puts its losses for the week at more than 15%. Ouch.

The post Here are the 3 most heavily traded ASX 200 shares on Friday appeared first on The Motley Fool Australia.

In morning trade, the engineering and construction company's shares are down a further 7% to $3.54.

This means the Downer share price is now down 26% over the last two trading sessions and 40% since this time last year.

Why is the Downer share price being sold off?

Investors have been selling off Downer's shares this week after the company revealed that it has identified historical misreporting of its Australia utilities business' revenue and work in progress in one of its maintenance contracts.

According to the release, the company estimates that this misreporting could result in a historical overstatement of pre-tax earnings of between $30 million and $40 million.

What else?

Another disappointment that has put pressure on the Downer share price was the scrapping of its guidance for FY 2023 for unrelated matters.

Downer's CEO and managing director, Grant Fenn, revealed that "the challenge for the last seven months of [FY 2023] has become too large" to achieve its profit growth guidance of 10% and 20%.

Fenn advised that its "road services and utilities businesses have been heavily impacted by weather" and its "businesses have been battling with staff shortages and supply chain issues."

In other news, this morning Macquarie responded to the update by downgrading Downer's shares to a neutral rating and slashed its price target to $4.05.

The post Carnage continues for Downer share price on Friday appeared first on The Motley Fool Australia.

It's shaping up to be another torrid day for the S&P/ASX 200 Index (ASX: XJO) and ASX shares so far this Thursday. After falling for most of the week, the markets are keeping the ball rolling today, with the ASX 200 down another 0.6% at the time of writing to just over 7,180 points.

But rather than dwelling on all that, let's instead take a look at the ASX 200 shares that are currently topping the share market's trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Pilbara Minerals Ltd (ASX: PLS)

Our first cab off the rank today is the ASX 200 lithium producer Pilbara Minerals. So far this Thursday, a notable 22.9 million Pilbara shares have found a new home. There's been no news out of the company today that explains this high volume.

Saying that though, the Pilbara share price has been absolutely roasted this session. Pilbara shares are presently down a painful 4.03% to $4.52 a share:

This comes after a top ASX broker warned that lithium prices could start trending lower over the next few years. It's probably these share price falls that have resulted in the high volumes we are seeing.

Downer EDI Ltd (ASX: DOW)

Our second ASX 200 share of the day is a rare guest appearance on this list. Downer EDI has had a large 23.83 million of its shares swap hands as it currently stands. Unfortunately, this elevated volume looks like a direct consequence of Downer's painful 21.46% drop we've seen today, putting the company at $3.77 a share:

This comes after Downer shares fell to just $3.31 this morning, a new 52-week low. These falls come after Downer announced a guidance revision this morning, which included an accounting error that could see a $40 million hit to the company's books. Evidently, investors have not been impressed.

Core Lithium Ltd (ASX: CXO)

Finally today we have another ASX 200 lithium share in Core Lithium. This Thursday has seen a whopping 46.3 million Core shares cross the proverbial Rubicon. This seems to be along similar lines to Pilbara, with the added distinction that Goldman Sachs has slapped a sell rating on Core Lithium shares specifically.

The broker reckons that Core Lithium's shares are overvalued compared to its peers. The Core Lithium share price has been whacked by a depressing 9.01% down to $1.19 a share so far today:

The post Here are the 3 most heavily traded ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down almost 8% to $1.21. This decline appears to have been triggered by a bearish broker note out of Goldman Sachs. This morning the broker initiated coverage on the lithium developer with a sell rating and $1.00 price target. Goldman highlights that the Core Lithium share price is trading at a premium to peers and on low forecast free cash flow multiples.

Downer EDI Ltd (ASX: DOW)

The Downer share price is down a massive 22% to $3.75. Investors have been hitting the sell button after the engineering and construction company identified certain accounting irregularities in its Australian Utilities business. The irregularities are estimated to result in a historical overstatement of pre-tax earnings in the order of $30 million to $40 million at the end of November.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is down 4% to $3.25. This has been driven by an update on Dye & Durham's proposal to acquire Link's Corporate Markets business and all of the BCM business for $1.27 billion. Management advised that the conditional non-binding proposal has not been able to be progressed to a transaction that is certain, has committed financing, reflects appropriate value, and is on appropriate terms. As a result, talks have now ended.

Renascor Resources Ltd (ASX: RNU)

The Renascor share price is down 6% to 30 cents. This morning this battery materials developer announced the completion of a $70 million institutional placement. These funds were raised at a 14% discount of 27.5 cents per share. The proceeds from the placement will be used to progress the development of the Siviour Battery Anode Material (BAM) project.

The post Why Core Lithium, Downer, Link, and Renascor shares are dropping today appeared first on The Motley Fool Australia.

The Downer EDI Ltd (ASX: DOW) share price is plummeting today after the company downgraded its guidance and revealed a historical accounting error with a potential $40 million impact.

The engineering and construction company has identified historical misreporting of its Australia utilities business' revenue and work in progress in one of its maintenance contracts.

It also revealed it no longer expects to meet its prior profit guidance following a spate of severe weather.

After opening 29% lower at $3.39, the Downer share price tumbled to a low of $3.31 – marking a 31% plunge. It has since recovered slightly to trade 21.35% lower at $3.775 at the time of writing.

Let's take a closer look at the news weighing on the S&P/ASX 200 Index (ASX: XJO) share today.

What's happening with the Downer share price?

The Downer share price is plummeting to a new post-pandemic low as the market reacts to major news on the company's upcoming earnings.

Irregularities in historical revenue reporting identified

Downer has revealed newly found issues with its past revenue reporting could result in a historical overstatement of pre-tax earnings of between $30 million and $40 million at the end of November 2022.

The company has begun a detailed investigation into the issues that appear to relate to the period between September 2019 and November 2022.

The overstatement appears to have accumulated over financial years 2020, 2021, 2022, and 2023.

Any potential ongoing impact is yet to be determined.

Guidance downgrade

Downer also provided a trading update this morning. The company previously anticipated its underlying post-tax profit would grow between 10% and 20% in financial year 2023. However, such expectations have since been binned.

Downer CEO and managing director Grant Fenn commented on the release decimating the company's share price today, saying:

Although the business has a general skew to the second-half, we think that the challenge for the last seven months of [financial year 2023] has become too large.

Our road services and utilities businesses have been heavily impacted by weather and all businesses have been battling with staff shortages and supply chain issues.

These issues are dissipating but not in time for 2023 earnings.

Discounting any impact of the accounting irregularities, Downer now expects its full-year underlying profit to come in at between $210 million and $230 million.

Though, that assumes no further disruptions, including those from COVID-19, weather, or labour shortages.

The company will provide another update when it drops its half-year earnings in February.

Downer share price snapshot

The Downer share price is currently 38% lower than it was at the start of 2022. It has also dumped 36% since this time last year.

For comparison, the ASX 200 has fallen 5% year to date and 3% over the last 12 months.

The post Why is the Downer share price sinking 20% on Thursday? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

CogState Limited (ASX: CGS)

The CogState share price is down 5.5% to $1.84. Investors appear to have been selling this neuroscience technology company's shares following the release of results from an Alzheimer's trial. Although the trial delivered very impressive results, there are concerns about potential side effects from the treatment. Excitement around the trial sent the neuroscience technology company's shares rocketing higher a couple of months ago.

Downer EDI Ltd (ASX: DOW)

The Downer share price is down 3% to $5.00. This morning this integrated services provider announced the exit of its CEO Grant Fenn. Mr Fenn will be replaced by the company's current COO, Peter Tompkins, when he retires in February.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is down 2.5% to $5.14. This appears to have been driven by a broker note out of Macquarie this morning. Although the market responded very positively to the online furniture retailer's trading update yesterday, Credit Suisse wasn't impressed. In response, the broker retained its neutral rating but cut its price target to $5.03. It has also slashed its earnings estimates following the update.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 2% to $36.48. This follows the release of the energy producer's investor briefing this morning. Woodside advised that it expects to grow its production by a compound annual growth rate of 4% between 2023 and 2027. This will be underpinned by its Sangomar oil development and Scarborough gas start-up. Investors appear to have been expecting stronger production growth.

The post Why CogState, Downer, Temple & Webster, and Woodside shares are dropping appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) broke its winning streak in a dramatic way on Thursday. The index closed 1.84% lower at 6,857.9 points.

Its suffering came after the United States Federal Reserve upped interest rates by 0.75% to between 3.75% and 4% in an effort to tackle rampant inflation overnight. Also likely weighing on markets was chair Jerome Powell's warning that future hikes are likely.  

Wall Street plummeted on the back of the news. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1.6%, the S&P 500 Index (SP: .INX) tumbled 2.5%, and the Nasdaq Composite (NASDAQ: .IXIC) plunged 3.4%.

Back home, the S&P/ASX 200 Materials Index (ASX: XMJ) put out today's worst performance, falling 3%.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) dumped 1.2% despite rising oil prices.

The Brent crude oil price lifted 1.6% to US$96.16 a barrel overnight, while the US Nymex crude oil price gained 1.8% to US$90 a barrel.

But not all was dire. The S&P/ASX 200 Communications Index (ASX: XTJ) was the only sector to close in the green, having gained 0.1%.

So, with all that in mind, which ASX 200 share took out today's top spot? Keep reading to find out.

Top 10 ASX 200 shares countdown

The biggest gain on the ASX 200 today was posted by Perpetual Limited (ASX: PPT). Its share price rocketed 7% after the company rejected a $30 per share takeover bid, saying the offer undervalued it.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Yesterday, we previewed a trio of S&P/ASX 200 Index (ASX: XJO) shares going ex-dividend today. 

But there are three more ASX 200 shares trading for the first time without their respective FY22 final dividend entitlements. Let's check them out.

Domino's Pizza Enterprises Ltd (ASX: DMP)

Domino's shares are trading without a partially franked final dividend today.

The ASX 200 fast food company handed in its FY22 results last week, cutting its final dividend by 20% to 68.1 cents, 70% franked.

The payment date for this dividend has been pencilled in for 15 September.

At the time of writing, the Domino's share price has tumbled by 2.6% or $1.66, a greater fall than the final dividend.

Across the financial year, Domino's declared total dividends of $1.565. This put Domino's shares on a trailing dividend yield of 2.4% when the market closed yesterday.

Netwealth Group Ltd (ASX: NWL)

Netwealth is another ASX 200 share going ex-dividend today. 

Surprisingly, the Netwealth share price is bucking the trend. While shares typically drop when they turn ex-dividend, the Netwealth share price is currently climbing 1.7%.

The wealth management business recently reported its FY22 results, slightly lifting its final dividend to 10 cents, fully franked.

Investors who owned Netwealth shares by the closing bell yesterday should see this payment come through on 29 September.

Netwealth declared total dividends of 20 cents across FY22, putting shares on a trailing dividend yield of 1.6% as of yesterday's close. With the benefit of franking credits, this dividend yield bumps up 2.3%.

Downer EDI Limited (ASX: DOW) 

Finally, shares in integrated services company Downer are trading today without an unfranked final dividend of 12 cents.

At the time of writing, the Downer share price has dropped by 2.1% or 11 cents.

Despite FY22 profit taking a backwards step, the company held its final dividend steady. The payment date for this dividend has been marked down for 28 September.

Downer's total FY22 dividend payments come to 24 cents, in line with the prior year. This spun up a trailing dividend yield of 4.7% when the market closed yesterday.

The post Here are 3 ASX 200 shares trading ex-dividend today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) broke what was a three-session winning streak on Thursday with tech shares leading the downfall. The index finished today's trade 0.21% lower at 7,112.80 points.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) was the market's worst-performing sector, falling 2.4%, following a rough day on the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC). The Wall Street index slipped 1.25% overnight.

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) also underperformed after recording a notable gain on Wednesday, while the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) lifted for a sixth consecutive session.

Also trading in the green was the S&P/ASX 200 Energy Index (ASX: XEJ). It gained 1.4% to lead the market, likely on the back of higher energy commodity prices.

European coal futures reportedly rose overnight amid increasing concerns of an energy shortage on the continent. Meanwhile, oil prices lifted off a six-month low. The Brent crude price rose 1.4% to US$93.65 a barrel and the US Nymex crude price gained 1.8% to US$88.11 a barrel.

At the end of Thursday's session, three of the ASX 200's 11 sectors were trading higher.

So, without further ado, let's take a look at which share outperformed all others to be crowned today's top performer.

Top 10 ASX 200 shares countdown

Today's top performing ASX 200 share was IPH Ltd (ASX: IPH), and by a longshot too. There was plenty of exciting news from the intellectual property services firm today.

It announced a major acquisition and dropped its financial year 2022 results. Find out more about the company and what it's been up to here.

Today's biggest gains were made by these ASX shares:

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

CSL Limited (ASX: CSL)

The CSL share price is down 1.5% to $292.25. Investors have been selling this biotherapeutics giant's shares following the release of its full year results. Although CSL delivered a result that was in line with expectations, its guidance for FY 2023 fell short. CSL is forecasting an uplift in profits of around 8%.

Downer EDI Limited (ASX: DOW)

The Downer share price is down over 7% to $5.20. Investors have been selling this integrated services provider's shares after it reported a 17% profit decline in FY 2022. Management blamed COVID-19 and severe wet weather for the poor performance. However, it is expecting a much better performance in FY 2023 and is guiding to underlying net profit growth of 10% to 20%.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down 5% to $14.22. This morning this struggling fund manager released its full year results for FY 2022. Magellan reported an adjusted net profit after tax of $399.7 million, which was down 3% year over year. Management also warned that the material client outflows experienced in the second half of the year will impact FY 2023.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price is down almost 8% to $3.60. This is despite the sports betting company revealing that its shares have been approved for eligibility by the Depository Trust Company (DTC), facilitating real time electronic clearing and settlement in the United States. A soft night on the tech-focused NASDAQ index may have taken the wind out of its sails today.

The post Why CSL, Downer, Magellan, and PointsBet shares are falling today appeared first on The Motley Fool Australia.

The Downer EDI Limited (ASX: DOW) share price is falling after the integrated services company reported its FY22 full-year earnings. 

The Downer share price closed yesterday at $5.61. Downer shares opened at $5.25 this morning, down 6.4% on yesterday's close and are currently sitting at $5.20, a 7.31% decline.

Downer provides integrated services to customers in Australia and New Zealand to design, build, and maintain infrastructure, facilities, and other assets.

Let's examine the company's results.

Downer share price in the red as profit falls

• Underlying net profit after tax and amortisation (NPATA) of $225.3 million, down 13.7% on the prior corresponding period (pcp)
• Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of $399.2 million, down 14.6% pcp
• Profit from ordinary activities after tax of $151.6 million, down 16.5% pcp
• Total group revenue of $12 billion, down 2% pcp
• Underlying cash conversion of 88.9%
• Final dividend of 12 cents per share (unfranked) payable on 28 September
• The dividend reinvestment plan (DRP) remains suspended (since 2014)

What else happened in FY22?

Downer completed the divestment of its non-core businesses in mining and hospitality in FY22. This means the company can now focus solely on its core urban services business comprising transport, utilities, and facilities.

In its statement, Downer said "demand remained strong" in this segment and revenue constituted $11.5 billion of the company's total group revenue of $12 billion in FY22.

It noted that revenue in the core urban services business segment increased by 10.8% on the pcp.

A highlight for Downer in FY22 was the announcement of a $200 million contract win on 8 October.

ASX investors pushed the Downer share price to a 52-week high of $6.87 on the day.

What did management say?

Downer said its operations were negatively impacted by COVID-19 and severe wet weather in FY22.

Downer CEO Grant Fenn said the company's performance demonstrated "resilience":

Despite the challenging conditions, particularly relating to COVID-19 and severe wet weather, our
Urban Services businesses have continued to deliver solid earnings and strong cash conversion.

Completing the divestment of the non-core businesses is a major milestone for Downer, enabling the
delivery of a transformed business and a strong balance sheet.

Gearing has reduced to 17.7% and Net Debt to EBITDA of 1.6x remains well below our 2-2.5x target with available liquidity of $1.9 billion.

What's next?

Fenn said Downer had a strong end to FY22 with a number of contract wins providing "solid
momentum into FY23".

Fenn said:

We have announced material contract wins across each of our Transport, Utilities and Facilities
segments in Q4. We are winning work in our key markets, our brand and relationships are very strong, and we are seeing a growing pipeline of work ahead of us.

Demand for decarbonisation solutions across the Group's customer base has accelerated dramatically
in the past 12 months, which will create a strong pipeline of work. Our customers know they need to start acting on their decarbonisation targets and that it will require enormous effort.

Downer's suite of technical skills means we are in a prime position to grow our business in what will be a significant economy-wide transformation journey to net zero.

For FY23, Downer expects 10% to 20% underlying NPATA growth. This assumes no material disruptions caused by COVID-19, poor weather, or labour shortages.

Downer share price snapshot

The Downer share price is down 13.9% in the year to date.

This compares to a dip of 6.3% for the benchmark S&P/ASX 200 Index (ASX: XJO).

The post Downer share price drops on 17% profit slide appeared first on The Motley Fool Australia.

S&P/ASX 200 Index (ASX: XJO) shares struggled on Wednesday as the index broke a four-session winning streak following suffering on Wall Street. The ASX 200 finished today's session 0.94% lower at 6,700.20 points.

The S&P 500 fell 2.01% overnight while the Dow Jones Industrial Average slipped 1.56%. The Nasdaq Composite was hit hardest, falling 2.98%.

Likely in reaction, the S&P/ASX 200 Information Technology Index (ASX: XIJ) was one of the market's worst performing sectors, only besting the S&P/ASX 200 Real Estate Index (ASX: XRE). They fell 2.6% and 3.3% respectively.

Meanwhile, news oil prices lifted more than 2% overnight likely helped bolster energy stocks. The S&P/ASX 200 Energy Index (ASX: XEJ) outperformed all its peers, gaining 0.5%. The S&P/ASX 200 Financials Index (ASX: XFJ) also ended in the green today.

Finally, the price of iron ore posted a 0.5% gain overnight to reach US$130.28 a tonne amid COVID-19 restrictions easing in China.  

After all that, the ASX shares that outperformed on Wednesday might come as a surprise. Let's take a look.

Top 10 ASX shares countdown today

Of the 200 largest ASX shares by market capitalisation, Liontown Resources Limited (ASX: LTR) posted the biggest gain today.

The stock lifted on news the company will push forward with the Kathleen Valley lithium project following another major offtake agreement and a funding facility. Find out more about what's been going on with Liontown here.

Star Entertainment Group Ltd (ASX: SGR) shares also made today's top ten performers after the company announced that Robbie Cooke – Tyro Payments Ltd (ASX: TYR)'s current CEO – agreed to take on the top job at the casino operator. Check out the latest on Star here.

Today's top 10 biggest gains were made by these ASX shares:

Data as at 3:59pm AEST

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are pushing higher:

Ampol Ltd (ASX: ALD)

The Ampol share price is up 5% to $34.77. This appears to have been driven by a broker note out of Morgan Stanley. According to the note, the broker has retained its overweight rating and lifted its price target to $39.00. It is bullish due to improving refining margins and increasing fuel volumes.

Downer EDI Limited (ASX: DOW)

The Downer share price is up 2% to $5.07. Investors have been buying this engineering company's shares after it announced two major contract wins. Downer has been awarded two road maintenance contracts by Auckland Transport, valued at approximately $800 million over a maximum term of 10 years. Management notes that these contracts expand Downer's strong working relationship with Auckland Transport.

Fletcher Building Limited (ASX: FBU)

The Fletcher Building share price is up 5% to $4.68. The catalyst for this was the release of the building products company's investor day update. That update reveals that management has reiterated its earnings before interest and tax guidance for FY 2022. It expects EBIT before significant items to come in at ~NZ$750 million.

REA Group Limited (ASX: REA)

The REA share price is up 2% to $101.15. This morning analysts at Citi reiterated their buy rating and $153.50 price target on this property company's shares. This implies potential upside of ~50% for investors over the next 12 months. Citi sees NSW stamp duty changes as a positive for REA.

The post Why Ampol, Downer, Fletcher Building, and REA shares are pushing higher appeared first on The Motley Fool Australia.