Why these 4 ASX shares are in the red today

With almost all sectors sinking lower, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down a disappointing 0.3% to 5,652 points in afternoon trade.

Four shares which have fallen more than most today are listed below. Here’s why they are in the red:

The Computershare Limited (ASX: CPU) share price is down 2.5% to $14.18. Today’s decline is likely to be attributable to a research note out of Deutsche Bank this morning. According to the note, the broker has downgraded its shares to a sell rating and cut its price target to $13.00. Deutsche appears to believe its expansion into mortgage servicing won’t be as fruitful as the market expects.

The Premier Investments Limited (ASX: PMV) share price continues to sink lower, this time by almost 3% to $12.47. Despite the majority of leading brokers being bullish on its prospects due to its Smiggle and Peter Alexander brands, the market as a whole doesn’t appear convinced. I think the post-results decline has created a buying opportunity.

The Sundance Energy Australia Ltd (ASX: SEA) share price has tumbled 6.5% to 5.8 cents. I feel today’s decline is likely to be the result of a combination of a pullback in the oil price and profit-taking after the energy company’s shares jumped 19% higher on Tuesday.

The Yancoal Australia Ltd (ASX: YAL) share price has fallen 4.5% to 10.5 cents after the coal miner revealed that it planned to exercise its option to acquire Mitsubishi Development’s 28.9% interest in the Warkworth joint venture for US$230 million. Judging by the share price reaction, shareholders don’t appear to believe the company is getting value for money.

If you want to avoid declines like those listed above, I would suggest you consider selling these toxic shares before they drag your portfolio lower.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Premier Investments Limited. 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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