Why Sirtex Medical Limited is among 4 shares getting hammered today

Investors are enjoying a positive start to the shortened trading week, with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) rising 0.2% to 5,865 points.

The financials, information technology and industrials sectors have led the way higher today, while the materials and gold sectors have struggled to post any gains.

Four shares that have been hammered today, include:

Sirtex Medical Limited (ASX: SRX)

The Sirtex Medical share price has plunged more than 12.5% today after the company announced that its SARAH clinical trial failed to meet its primary endpoint of increasing patient survival rates compared to rival treatment, Sorafenib. The liver cancer treatment company did point to a number of positives from the trial including fewer side effects, but this may not be enough to move SIR-spheres up the line of available treatments.

Village Roadshow Ltd (ASX: VRL)

The Village Roadshow share price has crashed 9% today after the company warned that its theme park division could see a decline of up to 37% in earnings this year. Unfortunately, the tragic accident at Ardent Leisure Group’s (ASX: AAD) Dreamworld theme park last October continues to weigh on visitor numbers and this has been compounded by cyclonic weather conditions in March and April. Today’s share price decline means Village Roadshow shares have lost around 20% of their value for the year-to-date.

Coca-Cola Amatil Ltd (ASX: CCL)

After a shocking day last Friday, the Coca-Cola Amatil share price has continued to fall today, losing another 2% to $9.40. It comes after the beverage company downgraded its full-year guidance on the back of difficult trading conditions in the Australian beverages division. Unfortunately, the company is still facing fierce competition and is struggling to gain traction with its own range of ‘healthier’ options. Unsurprisingly, analysts have moved to downgrade the shares following the latest update.

FlexiGroup Limited (ASX: FXL)

The FlexiGroup share price has fallen more than 4% today, despite the absence of any news from the company. In fact, the company has not released any significant news to the market since its first-half results in February. Interestingly, the shares have been fairly subdued since the start of the year, which is in stark contrast to their performance during most of 2015 and 2016. It appears the market is becoming far more comfortable with the company’s outlook under the guidance of a new CEO and CFO.

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Motley Fool contributor Christopher Georges has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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