The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and pushed higher on Monday. At the time of writing the benchmark index is up 0.5% to 6,027 points.
Four shares that have not been able to follow the market higher today are listed below. Here's why they have started the week in the red:
The G8 Education Ltd (ASX: GEM) share price has fallen 7% to $2.93 following the release of the childcare centre operator's full-year results. For FY 2017 G8 Education delivered revenue growth of 2.4% to $795.8 million and a flat underlying net profit after tax of $92.9 million. Underlying earnings per share fell 11.7% due to the placement of 31 million shares during the period to raise $100 million.
The Monash IVF Group Ltd (ASX: MVF) share price has tumbled almost 7% to $1.22 after the fertility treatment company posted EBITDA of $20.8 million on revenue of $77 million. This was a 17.7% and 2.2% decline, respectively, on the prior corresponding period. The loss of a high-profile doctor and changing competitive dynamics led to the poor result. Management expects things to worsen in the second-half and has forecast a 25% decline in full-year net profit after tax.
The Mayne Pharma Group Ltd (ASX: MYX) share price is down 7% to 72 cents despite there being no news out of the pharmaceutical company. But with its shares rising strongly after last week's half-year results release, I suspect that a spot of profit-taking is weighing on the performance of its shares today.
The National Veterinary Care Ltd (ASX: NVL) share price has fallen almost 10% to $2.60 after releasing its half-year results. The veterinary company posted first-half revenue of $41.6 million and net profit after tax of $3.3 million. This was a 27.6% and 27.7% increase, respectively, on the prior corresponding period. Investors may have been disappointed with the decline in its EBITDA margin as a result of increased operating costs.
