In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has edged lower and is down over 0.2% to 5,842 points.
Four shares that have fallen more than most today are listed below. Here's why they have sunk lower:
The Commonwealth Bank of Australia (ASX: CBA) share price is down 3% to $73.95. Almost all of today's decline can be attributed to the banking giant's shares going ex-dividend this morning. Shareholders can look forward to receiving the fully franked $2.00 per share interim dividend in their accounts on March 28.
The Challenger Ltd (ASX: CGF) share price has fallen almost 3.5% to $12.38 a day after the release of its half-year result. One broker that appears to have been less than impressed with the result was Macquarie. A note out of its equities desk today reveals that its analysts have downgraded the annuities company to a neutral rating and given its shares a lower price target of $12.95.
The Domino's Pizza Enterprises Ltd (ASX: DMP) share price has tumbled over 6% to $46.44 following the release of a weak first half result. Domino's reported underlying net profit after tax growth of 5% to $63 million due largely to weakness in its Japan business. Management has, however, maintained its full-year profit growth guidance of 20%. The market appears doubtful that the company will achieve this.
The Yowie Group Ltd (ASX: YOW) share price has plunged 17% to 12 cents after the confectionery company downgraded its guidance once again. Due to the launch of a competing product in the US, sales during the third-quarter have been materially lower than the prior corresponding period. As a result, the company does not expect to achieve its revised forecast revenue guidance set in January. Instead, year-on-year growth is expected be flat. This is a company I would avoid at all costs.
