It has been a positive day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) thanks largely to strong gains in the energy sector. In afternoon trade the benchmark index is up 0.7% to 5,759 points.
Unfortunately not all shares have been able to climb higher today. In fact, four shares in particular have sunk like stones. Here's why:
The Catapult Group International Ltd (ASX: CAT) share price has tumbled 6% to $1.90 after the sports analytics company released a trading update. Although the company achieved its FY 2017 revenue guidance with unaudited revenue of $61.8 million, the result is at the lower end of its guidance range.
The Freelancer Ltd (ASX: FLN) share price has plunged almost 24% to 50 cents following the release of its half-year result after the market closed yesterday. According to the release, revenue increased just a paltry 0.4% to $26.3 million. On the bottom line the company posted a loss of $711,000, a slight improvement on the prior corresponding period. The lack of top line growth is a big surprise and a big worry in my opinion.
The iSentia Group Ltd (ASX: ISD) share price has dropped 19% to $1.79 after the media monitoring company downgraded its full-year earnings guidance once again. Due to competitive pressures iSentia expects to post full-year underlying EBITDA of $41.5 million on revenue of $155.1 million, down from its previous guidance of EBITDA of $44 million on revenues of $162 million.
The Navitas Limited (ASX: NVT) share price has fallen almost 11% to $4.44 after the education provider released its full-year result. Navitas posted a 10.8% decline in profit after tax from ordinary activities due largely to the closure of two of its University Partnership colleges. Considering this subdued performance and its weak outlook, I think investors should stay clear of its shares for the time being.
