In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back almost all of yesterday's gains and is 0.4% lower to 5,919 points at the time of writing.
Four shares that have fallen more than most today are listed below. Here's why they are sinking notably lower:
The Catapult Group International Ltd (ASX: CAT) share price has fallen 3.5% to $1.62 despite there being no news out of the sports analytics company. But with the company's half-year results release due on Thursday, I suspect some investors are a touch nervous about its performance during the half and are locking in some gains today.
The Greencross Limited (ASX: GXL) share price is down 3% to $5.96 following the release of its half-year results. This morning the integrated pet care company reported a 9% increase in half-year revenue to $433.3 million and an 11% lift in underlying net profit after tax to $24.4 million. Investors may have been underwhelmed with management's vague outlook for the remainder of FY 2018. I think this small decline could be a buying opportunity for investors.
The Super Retail Group Ltd (ASX: SUL) share price has plunged 14% lower to $7.04 after the retail conglomerate's half-year results fell short of the market's expectations. Super Retail reported sales growth of 2.2% and normalised net profit after tax growth of 0.7% on the prior corresponding period. The market may also be disappointed with its decision to add to its struggling Leisure segment with the acquisition of Macpac for NZ$144 million, rather than divesting the segment.
The Vocus Group Ltd (ASX: VOC) share price has sunk 11% to $2.56 following the release of a disappointing half-year result which revealed revenue and EBITDA growth of just 4% and 0.8% compared to the prior corresponding period. Furthermore, on a reported basis, Vocus' net profit after tax fell 21% to $37.3 million.
