It has been another positive day for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is up almost 0.4% to 5,797 points.
Four shares which haven't been able to follow the market higher today are listed below. Here's why they have sunk into the red:
The Admedus Ltd (ASX: AHZ) share price is down 5.5% to 25.5 cents. This now brings its two-day decline to in excess of 10.5% and comes following the release of its quarterly update yesterday. The market appears to have been disappointed that the healthcare company reported fourth-quarter revenue growth of 28% on the prior corresponding period. Whilst this is undoubtedly strong, it is slower growth than the company experienced in previous quarters.
The BlueScope Steel Limited (ASX: BSL) share price has fallen 3% to $13.31 despite there being no news out of the steel producer. But with its shares up 43% this year, I wouldn't be surprised if this was the result of profit taking. Whilst I think its shares are reasonably expensive still, if they came down a little lower they could be worth a closer look.
The Wellard Ltd (ASX: WLD) share price has continued to tumble lower, this time by 3.5% to 13 cents. Due partly to a sharp decline last week following the release of a terrible trading update, the cattle exporter's shares have now fallen over 70% in the last 12 months. As cheap as they look, I would avoid its shares at all costs.
The Yowie Group Ltd (ASX: YOW) share price has plunged 10% to another multi-year low of 23 cents. The confectionery company's shares have now lost 27% of their value since the release of its latest quarterly result. Although Yowie delivered revenue growth of 23% in the fourth-quarter, it fell short of the 37% growth guidance given on June 21 when there were only nine days remaining in the quarter. Ultimately this led to the company missing its full-year guidance, which it had downgraded no less than three times throughout the year. This is another company I would suggest investors avoid.
