The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) is trading 0.15% lower in afternoon trading thanks to subdued offshore leads and some weaker-than-expected earnings results.
The biggest drags on the broader market have come from the materials and energy sectors, although the big banks and gold producers have provided some positive support.
A number of shares are having a particularly tough day, including:
Slater & Gordon Limited (ASX: SGH)
The Slater & Gordon share price has continued to fall like a stone today and is trading 15% lower to just 17 cents. It appears some investors are finally coming to the realisation that the company is in a very precarious position following yesterday's terrible market update. The law firm desperately needs to negotiate a deal with its lenders or else face the prospect of being forced into administration.
Sigma Pharmaceutical Limited (ASX: SIP)
The Sigma Pharmaceutical share price has plunged 5.6% today after the wholesaler announced it will take a $20 million accounting charge when its reports its full year results in March. The one-off charge relates to an insurance premium recovery of $11.4m and an additional provision for doubtful debts relating to a single pharmacy group. On a more positive note, Sigma noted that underlying EBIT for the full year would grow around 12%, compared to guidance of 10%.
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price has crashed more than 7.5% today following the release of weaker-than-expected first half results. Although the baby retailer posted a strong increase in sales and profits, it appears some investors are concerned with a moderate slowing of same-store-sales growth. Nonetheless, management has re-affirmed its full year guidance of EBITDA in the range of $21.5 million to $24.5 million.
Village Roadshow Ltd (ASX: VRL)
The Village Roadshow share price has slumped more than 10% today after releasing a disappointing interim result. The entertainment company reported a $6.7 million loss on the back of weak trading performances from its theme park and cinema divisions. On top of this, management noted that its current gearing position is unacceptable and, as a result, has decided not to declare an interim dividend.
