After a solid start to the day the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its gains and sunk notably lower. In afternoon trade the benchmark index is down 0.5% to 6,067 points.
Four shares that have fallen more than most today are listed below. Here's why they are ending the week in the red:
The Ainsworth Game Technology Limited (ASX: AGI) share price has plunged almost 37% to $1.23 after the gaming technology company released a disastrous trading update. According to the release, competitive activity and regulatory approval delays have led to the underperformance of its domestic business. As a result, it has cut its full-year profit before tax guidance from at least $58.4 million to just $36 million. This will be a 37.2% decline year-on-year.
The ASX Ltd (ASX: ASX) share price is down 2% to $60.11. Today's decline is likely to be attributable to a broker note out of Deutsche Bank. According to the note, its analysts have downgraded the Australian stock exchange operator to a sell rating from hold with a price target of $55.90. The broker made the move on valuation grounds.
The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has continued its decline and is off a further 8% to a new multi-year low of $2.73 despite there being no news out of the embattled investment company. Earlier this week Blue Sky sold some childcare assets at a significant discount to their carrying value. This appears to have investors concerned that Glaucus was spot on with its assumptions.
The Myer Holdings Ltd (ASX: MYR) share price has given back some of its recent gains and is down 7% to 43.7 cents. Earlier this week the department store operator's shares were on fire after it emerged that several insiders had been buying shares on-market. Despite today's decline, Myer's shares are still up over 9.2% since this time last week.
