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Why these 4 ASX shares sank lower today

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains but is still up almost 0.1% to 6,003 points.

Four shares that have not been able to follow the market higher today are listed below. Here’s why they sank lower:

The Asaleo Care Ltd (ASX: AHY) share price has tumbled 5% to $1.50 after the personal care company downgraded its full-year earnings guidance. Due to the underperformance of its Feminine Care category, management expects underlying net profit after tax to be down between 7.1% and 8.7% year-on-year. Previous guidance had been for low single digit growth in FY 2018.

The Bell Financial Group Ltd (ASX: BFG) share price has fallen 7% to 68 cents. This morning the financial services company advised that major shareholder UBS would be selling its 16.5% stake. No details have been provided, other than that its Bell Potter Securities business would be acting as the broker for the sale.

The RXP Services Ltd (ASX: RXP) share price is down 7% to 64 cents following the release of a trading update. The digital services consultancy provider downgraded its full-year revenue guidance to the range of $162 million to $167 million with an EBITDA margin in the range of 14.6% to 15.1%. Previously RXP expected revenue to be $174.7 million with an EBITDA margin of 15.1%. Management does, however, remain committed to its progressive dividend policy.

The Virgin Australia Holdings Ltd (ASX: VAH) share price is down 5% to 27 cents despite there being no news out of the airline. Prior to today its shares had rallied almost 24% in just one month, which could mean that today’s decline is related to profit taking.

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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.

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