Although it is off of its morning lows, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is disappointingly just a fraction higher today at 5,740 points.
Four shares that have acted as a drag on proceedings today are listed below. Here's why they have fallen into the red:
The Lifehealthcare Group Ltd (ASX: LHC) share price has continued its decline, this time by 3% to $2.11. The healthcare company's shares have come under pressure this week after Bell Potter downgraded it to a hold rating with a $2.14 price target amid concerns of regulatory changes in the healthcare sector.
The Pilbara Minerals Ltd (ASX: PLS) share price has fallen 3% to 74 cents. Many of the lithium miners have come under pressure in recent days as the industry-wide rally fades. While I think they all could have bright futures, I would class them as holds at this stage.
The Syrah Resources Ltd (ASX: SYR) share price has tumbled almost 3% to $3.60 after announcing that it has successfully raised $110 million via its 1 for 10.5 accelerated non-renounceable entitlement offer. 2.3 million shares not taken up under the offer will go to its sub-underwriters who are existing shareholders.
The Treasury Wine Estates Ltd (ASX: TWE) share price is down almost 2% to $13.92 amid concerns that fires in the Napa Valley could impact its U.S. operations. At this stage the company is only aware of limited damage to its infrastructure and sites, though fires are ongoing. Investors might want to stay clear of the company until the full details are known.