Market breaks three day winning streak
The Australian sharemarket has shrugged off a positive lead from Wall Street, with almost all sectors weaker in early trade. The ASX 200 (XJO) is down 57 points or 0.9% to 6,129, as Consumer Discretionary and IT stocks lead the losses.
In earnings news, Caltex (CTX) will launch a $260 million buyback after reporting a better than expected full year earnings result. Profit came in at $558 million, above its guidance of between $530-550 million – on a replacement cost operating basis. Revenue climbed 33% to $21.7 billion. CTX will pay a final dividend of 61 cents per share, fully franked. Caltex shares are up 4.5% to $28.85.
 Bingo Industries (BIN) has reported a 25% fall in first-half net profit to $13.4 million, hit by the property building downturn. BIN – which already downgraded its FY earnings guidance earlier this month – is up 3.9% to $1.33. Bingo will pay an interim dividend of 1.72 cents per share, fully franked.
 Slater & Gordon (SGH) shares are under pressure, plunging 14.2% to $2.17 after the law firm reported a $10.3 million firsthalf loss. Total revenue and other income from continuing operations fell 12% to $75.1 million, as stronger class action revenues were offset by lower income from its personal injury business.
Estia Health (EHE) shares are being sold off by 2.1% to $2.36, after the aged care provider downgraded its full-year guidance. EHE today reported a 4.1% lift in first half profit to $21.1 million, while revenue rose 6.6% to $289.7 million. The company will pay an interim dividend of 8 cents per share, fully franked. EHE is now expecting FY19 earnings growth in the low-to-mid single digits, down from its prior forecast of midsingle digit growth – subject to no further material changes in market or regulatory conditions.
 In company news, Blackmores (BKL) has announced that CEO Richard Henfrey will resign after 18 months in the role. He will stay in the position while the search commences for a new CEO. BKL shares are down 3.1% to $92.23
Incitec Pivot (IPL) now expects the recent Queensland floods will cost it between $100-120 million in lost earnings, up from its previous forecast of $10 million. IPL shares are down 2.1% to $3.32.
996 million shares have been traded, worth $2.49bn. 404 stocks are higher, 532 are weaker, while 365 are unchanged.
 Published by CommSec