So far so good for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). Despite the shocking Australian GDP data released this morning the benchmark index is higher by 0.7% to 5,466 points in early afternoon trade.
Not all shares have climbed with the market though. Four shares in particular have gone against the grain today and dropped lower. Here's why:
Alacer Gold Corp – CDI (ASX: AQG) shares have fallen 4% to $2.41 after a surprise downgrade in its guidance for the year ahead. Gold production in FY 2017 is now expected to be in the range of 115,000 to 125,000 ounces, compared to prior guidance of between 150,000 to 170,000 ounces. Furthermore, its all-in sustaining costs are predicted to be 15% higher than planned to between US$900 and US$950 an ounce.
Origin Energy Ltd (ASX: ORG) shares have fallen almost 4% to $6.33 today. This has wiped out yesterday's gains and comes on the back of falling oil prices and a couple of downgrades from brokers. Research notes out of Citi and Credit Suisse reveal that their analysts have downgraded the energy company's shares to neutral and underperform ratings, respectively.
Pro Medicus Limited (ASX: PME) shares have plunged 6.5% to $4.49 despite no news out of the medical imaging company. Its shares have now fallen around 16% since US-giant IBM unveiled its Watson-powered imaging solutions for healthcare providers at the end of last month. I'm a big fan of Pro Medicus, but the current share price has an enormous amount of growth baked into it. If IBM's entrance into the market slows this growth, there's a fair chance that its share price could be cut down to size.
Regis Healthcare Ltd (ASX: REG) shares have fallen 3% to $4.36 today. With no news out of the company I would attribute today's decline to profit taking after yesterday's surge. Regis and its fellow aged care operators all jumped higher on Tuesday after it emerged that changes to the aged care funding instrument would be replaced with a new cost-saving measure.
