In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is largely flat at 5,768 points.
Weighing heavily on the market today have been four shares in particular. Here's what sent them lower:
The Independence Group NL (ASX: IGO) share price has fallen almost 3% to $3.68 despite there being no news out of the miner. But with delays to its ore production ramp up at its Nova mine resulting in a recent production guidance downgrade, I'm not entirely surprised to see its shares on the decline.
The Slater & Gordon Limited (ASX: SGH) share price has dropped 8% to 11.5 cents. The embattled law firm's share price has now lost around half of its value this year. At this point in time I think Slater & Gordon is a share that all investors ought to avoid.
The Thorn Group Ltd (ASX: TGA) share price has declined 8% to $1.53 after the release of a disappointing market update. An investigation into its lending practices has now reached a point where management expects ASIC to seek a civil penalty that requires further compensation and remediation. As a result it has reduced its full-year profit guidance to between $24 million and $26 million.
The Virtus Health Ltd (ASX: VRT) share price has fallen 3.5% to $5.50 despite there being no news out of the IVF specialist. Today's decline means its shares have now fallen by a massive 30% in the last six months. Increased competition from a new entrant to the market has hit the company hard, resulting in a loss of market share and a drop in profits.
