James Hardie (JHX) is a leading international building materials group that produces a wide range of fibre cement building materials used in the exterior and interior of residential and commercial buildings.

The company is also the largest seller of home siding (imitation wood) in the US, and produces fibre cement in the US, Australia, New Zealand and the Philippines.

JHX and its sector peers have been one of the shares to sell in recent times, as the housing market at home and more so abroad has really struggled.

JHX’s US exposure thus caused the company headaches during these difficult times – JHX normally makes 75% of its earnings in the US.

On Friday, JHX reported a net loss of US$345.2 million in the nine months ending 31 December, 2010.  This compares to a US$82.6 million loss a year earlier.

For the quarter, JHX posted a loss of US$26.4 million, which compares to a US$14.9 million profit in 3Q10.  The result was impacted by significant asbestos related losses related to the stronger Australian dollar.

JHX said there is no evidence of housing sector recovery in the US, and it downgraded its full year guidance from the lower end of US110 – US$125 million to between US$105– US$115 million.

Keep up to date with James Hardie and all shares to sell with your free trial.

Leighton Holdings (LEI) activities focus on contract management, project management, and property development in Australia, Hong Kong and South East Asia.

LEI has been one of the shares to sell since announcing a profit warning last November.

On 14 February, LEI reported a fall in 1H11 net profit to $216.7 million, down 25% from 1H10’s $288.9 million.

Excluding the sale of its 35% stake in Indian-based Welspun Corp, LEI would have reported a profit of just $14.7 million.

Leighton Holdings attributed the weak result to wet weather in Queensland impacting some of its mining projects, a stronger Aussie dollar, and a write-down of its 45%-owned Habtoor Leighton Group in Dubai.

The group declared an interim dividend of 60 cents a share, down from 85 cents a year earlier.

The result, which missed analyst estimates, resulted in LEI downgrading its full year guidance by 5.8% to $480 million.

For daily Leighton Holdings and shares to sell updates, try a free trial.

Billabong (BBG) is a major international retailer whose core business is the marketing, distribution, wholesaling and retailing of apparel, accessories, eyewear, wetsuits and hardgoods under various brands.

BBG has been one of the shares to sell in 2010 amid declining consumer demand brought about rising interest rates and financial market volatility.

On 15 December, BBG downgraded its first half profit guidance.  The group now expects 1H11 net profit to fall 8% – 13% from a year ago, compared to its previous guidance of only a slight fall.

1H11 EBIT is expected to slump 25% on-year, primarily due to unseasonable weather impacting sales and weaker-than-expected consumer spending patterns in Australia.

Furthermore, sales in the US have been impacted by a shift in seasonal orders, which will push expected sales into the 2H10.

As a result, Billabong is now forecasting full year net profit to be flat on-year, compared to the previous 2% – 8% growth.

BBG shares sank 8.9% on its revised guidance, making it one of the worst performers in the Australian share market.

Access a free report for daily advice on BBG and shares to sell.

Karoon Gas (KAR) is focused on identifying, exploring and developing acreage that is highly prospective for oil and gas.

KAR advised last Friday that it has discontinued plans to list on the Brazilian stock exchange, citing unfavourable market conditions.

KAR has been one of the shares to sell since reaching a high of $11 in late October, with the stock having plunged almost 30% since then.

KAR based its decision on recent oil and gas company capital raisings not performing to stock market expectations.

Karoon Gas also said that it will wait for conditions to improve before assessing other opportunities.

Receive daily adivce on KAR and all shares to sell, with a free report trial.

Once simply a painting services company, Programmed Maintenance Services (PRG) has expanded into a full-scale property maintenance group.

PRG directly employs more than 11,000 staff and tradespeople across a broad range of government and private sector industries in the resources, infrastructure, education, manufacturing & logistics, commercial/retail and tourism and recreation markets.

It has also been one of the shares to sell over the past year, with its stock price tumbling from around $4.60 in October 2009, to close yesterday at $1.38.

Highlighting its woes, PRG announced yesterday that it will restructure its property services business to reverse recent under-performance.

The group cited reduced demand for its services and lower indexation revenue as the key reasons behind the restructure.

PRG advised that restructuring costs are expected to total $15.8 million.

The news saw PRG plummet over 20% on the day, putting it among the worst performers in the Australian share market. Learn more with a free trial.

Telstra (TLS) is a provider of telecommunications and information products and services, arguably best known as Australia’s dominant telco company.

Its principal activities are the provision of telephone lines; national local, and long distance, and international telephone calls; mobile telecommunications; data; internet and on-line; wholesale; telephone directories; and pay TV.

TLS has historically been considered among the blue-chip stocks due to its market cap and generally high dividend yield.

However, recent troubles have seen TLS become one of the shares to sell.  Its stock price has sunk to all-time lows as speculation mounts that poor earnings are likely to see its dividend cut.

On 29 September, TLS reiterated its FY11 earnings guidance, stating that it still expects revenue to be flattish and that it will comfortably be able to fund a 28 cent dividend.

TLS plans to spend $1 billion in order to grow its market share and improve customer service – a strategy designed to reinvigorate revenue growth.

Learn more with a free report!

Cabcharge (CAB) is a taxi charge account system that facilitates the non-cash payment of taxis, cars, buses and water taxis.

Its customer base ranges from big corporate companies and government bodies to small businesses and individuals

On Friday, the ACCC has ended its investigation against CAB, eventually fining the group $15 million.

The proceedings began in 2009, when the ACCC alleged CAB abused its market power in refusing to allow competing suppliers to process its branded non-cash payment products.

Concerns about loss of market share in addition to the ACCC’s allegations resulted in CAB becoming one the shares to sell in 2010.

However, CAB has been one of the hot stocks in recent weeks following an encouraging full year profit result.

The removal of legal uncertainty saw CAB shares rocket just over 10% on the day of the announcement, and it will be one of the stocks to watch in coming months to see whether its recent gains can be sustained.

Karoon Gas (KAR) is focused on identifying, exploring and developing acreage that is highly prospective for oil and gas, and is listed an energy company in the Australian stock market.

The company currently has three focus areas – the Browse Basin (Western Australia), Tumbes Basin (Peru) and the Santos Basin (Brazil).

Recently, KAR completed a $186.4 million institutional placement at $7.00 per share.

KAR stated that the funds are designed to bolster its balance sheet as it undertakes exploration activities in the Browse Basin, Brazil and Peru.

KAR will now look to offer its existing shareholders an opportunity to take part in a share purchase plan, which the company advised will launch shortly.

The capital raising saw KAR become one of the shares to sell on the day of the announcement, losing 1.9%.

Nufarm (NUF) produces agricultural fertilisers and chemicals used for crop protection internationally, with less than half its sales coming from Australia.

The company is also actively involved in the marketing and sale of branded, off-patent crop protection and seeds treatment products.

Recently, NUF announced that FY10 net profit is expected to come within its previous guidance of $55 million – $65 million.

Worryingly, however, net debt of $620 million was much higher than previous estimates of $450 million, due to increased working capital levels.

The higher debt levels means NUF is now in a minor breach of one of its loan covenants, however the breach will be covered by the waivers currently being put in place.

Nevertheless, NUF was one of the shares to sell following the profit announcement, plunging 6.8% in a day when the stock market jumped over 2%.

Get daily share analysis and advice with a Stock Report free trial.

Shares to Sell – Billabong (BBG)

Billabong International Limited (BBG) is a producer of surf wear and sports apparel, with a presence in over 60 countries. With a market capitalisation of almost $2 billion, it is listed in the top ASX 200.

BBG has posted a 4.5% drop in FY10 net profit to $146 million, with the result just ahead of analyst estimates of $146 million.

Revenue was flat, in constant currency terms, at $1.5 billion, as BBG saw a decline in sales at America and Australasia.

Sales were impacted by the lingering effects of the global financial crisis and a sharp deterioration in trading conditions in Australia during the final quarter.

BBG sounded a very cautious outlook, stating that it expects a tough Australian market to translate to a flat EBIT result in FY11.

BBG declared a final dividend of 18 cents, whilst its poor outlook saw its share price sink almost 10% today.

Based on this, BBG may be one of the shares to sell. To find out how to sell shares on the ASX, sign up for a free trial at Australian Stock Report.