It hasn't been a great start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In early afternoon trade the benchmark index has dropped lower by 0.4% to 5,632 points.
Although a vast number of shares have sunk lower today, the four shares below have stood out with particularly bad starts to the week. Here's why:
Bellamy's Australia Ltd (ASX: BAL) shares have fallen over 3% to $3.88 after IMF Bentham Ltd (ASX: IMF) announced plans to fund a class action against the infant formula manufacturer. The embattled Slater & Gordon Limited (ASX: SGH) is expected to conduct the class action. The claims relate to alleged misleading or deceptive conduct and an alleged breach of its continuous disclosure obligations.
Brambles Limited (ASX: BXB) shares have plunged over 15% to $10.38 after the operator of the world's largest pallet pool advised the market that it would fall short of its full year guidance. This is the result of a disappointing performance from its North American business thanks to revenue and cost pressures from US retailers destocking. Management will reveal its downgraded result next month in its half-year results.
Mcgrath Ltd (ASX: MEA) shares have plummeted 10% to 77 cents after the real estate agent warned that low listing volumes in Sydney are impacting its business. As a result management expects a far weaker second half, which may make Bell Potter's full year EBITDA estimate of $20.9 million unachievable.
Village Roadshow Ltd (ASX: VRL) shares have dropped almost 10% to $4.02 after the media and entertainment company advised that its theme parks were experiencing lower visitor numbers following the tragic incident at rival theme park Dreamworld. Although international and inter-state visitors were in line with last year, the key local Queensland market has seen a 12% drop in attendances since the accident. At the current price I feel Village Roadshow could be in bargain territory.
