Why these 4 ASX shares have started the week in the red

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a strong start to the week and finds itself up 0.6% to 5,848 points in afternoon trade.

Four shares which haven’t been able to follow the market higher today are listed below. Here’s why they have started the week in the red

The Catapult Group International Ltd (ASX: CAT) share price has tumbled 2.5% to $1.54 despite there being no news out of the sports analytics company. Today’s decline is likely to be a case of profit taking following Friday’s strong gain.

The Myer Holdings Ltd (ASX: MYR) share price is down 1% to 74.2 cents after being downgraded by Citi. According to the note, the broker has downgraded its shares from a buy rating to neutral. Citi has also lowered the price target on the retailer’s shares to 74 cents. I would rate Myer as a sell given the potential impact of Amazon on its business.

The OceanaGold Corporation (ASX: OGC) share price has fallen almost 3% to $3.88. Today’s decline is likely to be related to a broker note out of Deutsche Bank which revealed that its analysts have downgraded the gold miner to a hold rating from buy. The price target has also been reduced to $3.70.

The Thorn Group Ltd (ASX: TGA) share price has plunged 18% to 95.5 cents after the financial services company downgraded its full-year profit guidance. Due partly to weakness in its Radio Rentals business, management expects full-year profit to be 30% lower than in FY 2017.

Does your portfolio need a lift? These dividend shares could be just what it needs.

Rich listers know the power of dividend shares!

In FY 2018 share market investors are staring down the barrel of ballooning global debt and potential geopolitical powder keg. But thankfully one Foolish expert is revealing 5 of his favorite dividend payers for wealth-creating income whatever the global weather...

But you must act now. This updated report is available for a limited time only, and your copy is 100% free. So don’t miss out!

Simply click here to receive your free copy of "Our Top 5 ASX Dividend Shares to Earn You Money in 2018" right now.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.