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

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to start the week with a day in the red. At the time of writing the benchmark index is down 0.6% to 6,240.9 points.

Four shares that have fallen more than most today are listed below. Here’s why they have started the week deep in the red:

The Compumedics Limited (ASX: CMP) share price has plunged a massive 25.5% to 44 cents after providing an update on its proposed joint venture in China. The joint venture with Health 100 was expected to generate revenue of at least A$133 million (US$100m), but due to some unexpected complexities, should a definitive outcome of the current negotiations be achievable, an outcome on the proposed joint venture with Health 100 has been delayed a further 6 to 12 weeks.

The Nufarm Limited (ASX: NUF) share price has tumbled 14.5% to $6.45 after its U.S. peer Monsanto was dealt a blow in court. A former school groundskeeper with terminal cancer has been awarded US$289 million in damages after using its Roundup weed killer product for years. There are concerns that this ruling could set a precedent for thousands of other cases claiming herbicide causes non-Hodgkin’s lymphoma. Nufarm used to sell the product in Australia and also sells a similar product containing the key ingredient, glyphosate.

The Praemium Ltd (ASX: PPS) share price has fallen 4.5% to 85.5 cents following the release of its full-year results. The fintech company reported profits of $1.4 million on revenue of $43.2 million. The strong year of operational performance was driven by the growing popularity of its online wealth administration platforms.

The Primary Health Care Limited (ASX: PRY) share price is down almost 4.5% to $3.14 after the healthcare company responded to speculation in the AFR that it could tap the markets for funds. Management advised that it expects underlying net profit after tax for the year to be towards the lower end of the guidance range of $92 million to $97 million, before adding that it continues to review its capital management options.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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