In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is just about keeping its head above water and is up a little under 0.1% to 5,897 points.
Four shares which are weighing on the market today are listed below. Here's why they have sunk lower:
The Asaleo Care Ltd (ASX: AHY) share price has fallen 5.5% to $1.49 after Credit Suisse downgraded the personal care company to a neutral rating from outperform. The broker has taken this action after revising downwards its earnings forecasts following research into the paper and pulp market. This led to Credit Suisse cutting its price target on Asaleo to $1.55.
The Appen Ltd (ASX: APX) share price has tumbled for a second day in a row, this time by 6% to $5.07. This afternoon management advised that they are unaware of a reason for the share price decline. However, as I mentioned yesterday, there is a chance that it relates to recent developments in machine learning and artificial intelligence technology.
The Kogan.com Ltd (ASX: KGN) share price has plunged 12% to $4.04 after the online retailer's CEO Ruslan Kogan offloaded 3 million shares for $4.25 each according to the AFR. Insider selling never goes down well with the market, especially when a company's shares trade on a sky high multiple like Kogan does.
The Specialty Fashion Group Ltd (ASX: SFH) share price has continued its decline and is down 6.5% to 21.5 cents. The retailer's shares have now lost 34% of their value in the last month. Investors have been heading to the exits after it advised that full-year EBITDA is expected to be between $14 million and $20 million. In FY 2017 the retailer delivered EBITDA of $26.7 million.
