Why these 4 ASX shares have started the week in the red

After a slow start to the day the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has picked up the pace and pushed notably higher. In afternoon trade the index is up 0.4% to 5,979.1 points.

Four shares that haven’t been able to follow the market higher today are listed below. Here’s why they have started the week in the red:

The Domino’s Pizza Enterprises Ltd. (ASX: DMP) share price has given back some of Friday’s gains and is down 3.5% to $42.39. The pizza chain operator’s shares surged higher at the end of last week after the U.S. Domino’s delivered one of the strongest earnings results seen during the ongoing U.S. earnings season. I think Domino’s is a great option for patient buy and hold investors.

The Experience Co Ltd (ASX: EXP) share price has plunged 17% to 58.7 cents after the adventure company released a disappointing trading update. According to the release, high levels of rainfall during March in key tourist hotspots means that the company’s businesses lost a significant number of trading days. As a result, FY 2018 revenue is expected to come in between $127 million and $130 million, compared to previous guidance of $135 million and $140 million. EBITDA has also been downgraded to between $30 million and $31 million from between $35 million and $37 million.

The Metro Mining Ltd (ASX: MMI) share price has fallen 5.5% to 25.5 cents after the bauxite miner released its quarterly update. Due to a prolonged wet season, the company advised that the commencement of production has been delayed. However, management has held firm with its FY 2018 guidance of 2 million wet metric tonnes of bauxite.

The Sandfire Resources NL (ASX: SFR) share price has dropped 3% to $7.92. The copper miner’s shares have come under pressure today after brokers weighed in on its recent quarterly update. One broker that doesn’t appear to have been impressed was Citi. It held firm with its sell rating and cut the price target on its shares down to a lowly $6.70.

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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 EXPERNCECO FPO. The Motley Fool Australia has recommended Domino's Pizza Enterprises 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 Scott Phillips.

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