Following the US Federal Reserve’s decision to keep US interest rates on hold and an overnight rally in commodity prices, the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) is enjoying a solid day of gains with the main index rallying 1.2%.

Not all shares are taking part in today’s rally, however, and these four companies are deep in the red:

ResMed Inc. (CHESS) (ASX: RMD)

ResMed shares have lost more than 4% today despite the absence of any specific company news being released. It appears investors may be concerned about the impact of the recent surge in the Australian dollar which will negatively impact the value of its ASX scrip. Investors may also be weary of further competition in the sector with the likes of Somnomed Limited (ASX: SOM) and Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) both delivering healthy growth in their most recent earnings results.

Magellan Financial Group Ltd (ASX: MFG)

Shares of Magellan are down by more than 2.2% today as investors digest the potential negative impact on its earnings from a higher Australian dollar. Despite this, Magellan still looks like a good long-term winner thanks to its superior track record of delivering out-performance and strong relationships with institutional investors.

Ramsay Health Care Limited  (ASX:RHC)

The shares of the private hospital operator have been under pressure over the past seven trading days and today’s 1% fall takes its seven-day loss to more than 8%. Ramsay is the market leader in France and it appears most of the recent share price decline can be attributed to the French Government’s decision to cut its tariffs for private hospitals by more than anticipated. Despite this, the company has assured investors this would not impact the company’s earnings guidance which was recently upgraded following the release of its first half earnings in February.

Retail Food Group Limited (ASX: RFG)

Shares of Retail Food Group started the day on the back foot and at one point had fallen more than 5.6%. The shares have since stabilised but were still trading down by more than 4.5% at the time of writing. The obvious reason for the fall is that the shares are trading ex-dividend today. The company will pay investors a fully-franked dividend of 13 cents a share – an increase of 13% from the previous corresponding period.

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Motley Fool contributor Christopher Georges owns shares of Retail Food Group. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia owns shares of Retail Food Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.