The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from its early decline and is higher by 0.2% at 5,682 points in afternoon trade.
Four shares which haven’t been able to match the market today are listed below. Here’s why they are ending the week in the red:
The Orica Ltd (ASX: ORI) share price is down almost 3.5% to $19.70 after Deutsche Bank downgraded the commercial blasting company’s shares to a hold rating with a reduced price target of $20.25. According to the note, the broker believes that unfavourable currency movements may impact the company’s results. I think its shares are a little expensive at the moment, so I would have to agree with Deutsche on this one.
The Sirtex Medical Limited (ASX: SRX) share price has tumbled almost 3.5% to $13.43 despite there being no news out of the regenerative medicine company. Last week the company advised that it has complied with an infringement notice issued by ASIC related to an alleged contravention of its disclosure obligations. Although it denies the allegation, it decided to pay the $100k penalty.
The Stemcell United Ltd (ASX: SCU) share price has fallen 8.5% to 3.2 cents. Today’s decline is likely to be the result of profit taking after its shares inexplicably rose 29% on Thursday. In my opinion, this is one medicinal cannabis hopeful that investors ought to stay well clear of.
The TPG Telecom Ltd (ASX: TPM) share price has fallen over 2.5% to a multi-year low of $4.86. Investors continue to head to the exits over concerns about the telco company’s future profitability due to weaker-than-expected NBN margins. Its shares are now down almost 44% since this time last year. While I wouldn’t be in a rush to buy, I do think its shares are starting to look like great value.