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Why these 4 ASX shares have tumbled lower today

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having a positive day and finds itself up by almost 0.6% to 5,854 points in afternoon trade.

Unfortunately not all shares have been able to follow the market higher today. Here’s why these four shares have tumbled lower:

The Donaco International Ltd (ASX: DNA) share price is down almost 9% to 26.5 cents. This morning the casino and hotel operator advised that it expects to deliver group half-year revenue in the range of $43 million to $44 million, with EBITDA in the range of $19 million to $20 million. This is in-line with previous guidance. Today’s decline may relate to an impairment charge of $144 million it expects to make on its Star Vegas Casino Licence.

The GUD Holdings Limited (ASX: GUD) share price is off 2.5% to $11.70. Almost all of the conglomerate’s decline today can be attributed to its shares going ex-dividend this morning. Eligible shareholders can now look forward to receiving its 24 cents per share fully franked interim dividend in their accounts on March 2.

The MNF Group Ltd (ASX: MNF) share price has tumbled over 7% to $5.55 despite posting a 25% increase in half-year profit this morning. The market appears to have been left disappointed with the voice telecommunications provider’s decision to relaunch its Pennytel brand. This is expected to negatively impact its profit result, leading to management downgrading its full-year NPAT forecast from $15 million to $12.5 million. The Pennytel launch is, however, expected to be earnings accretive next year. So investors may want to consider sticking with this one or buying the dip.

The SG Fleet Group Ltd (ASX: SGF) share price has fallen almost 8% to $3.92. This morning the fleet management company posted an 18.8% increase in net profit after tax to $31.6 million on revenue of $154.2 million. This appears to have fallen short of the market’s expectations.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended MNF Group Limited. 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.