The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to make it two consecutive days of gains. In afternoon trade the index is higher by almost 0.2% to 5,724 points.
Unfortunately not all shares have been able to match the market today. In fact, four shares in particular are ending the week in the red. Here’s why:
The Catapult Group International Ltd (ASX: CAT) share price has fallen 4% to $1.63 a day after the sports analytics company released a disappointing full-year result. On Thursday Catapult reported a loss of $13.6 million on revenues of $60.8 million. Whilst I think it is an exciting company, I’m holding off an investment until it becomes profitable.
The Harvey Norman Holdings Limited (ASX: HVN) share price has continued to sink lower, this time by 4% to $3.91. The retailer’s shares have come under heavy selling pressure since it decided to cut its dividend despite posting a record profit of $448.98 million. Whilst its shares look dirt cheap now, I would suggest investors stay clear of the company due to Amazon’s launch in Australia looking imminent.
The Nextdc Ltd (ASX: NXT) share price has fallen 2.5% to $4.47 after there was another twist in the battle for control of Asia Pacific Data Centre Group (ASX: AJD). This morning 360 Capital Group Ltd (ASX: TGP) lifted its offer for shares in the data centre REIT that it does not already own to $1.95. This may now mean that NEXTDC has to lift its own offer accordingly to fend off 360 Capital.
The Stemcell United Ltd (ASX: SCU) share price has plunged almost 8% to 5.9 cents. After the market closed yesterday the medicinal cannabis hopeful released a preliminary report which revealed a $2.4 million loss from revenue of just $31,600. This might be one to avoid, unfortunately.