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Why these ASX shares are ending the week in the red

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to finish the week on a disappointing note. At the time of writing the benchmark index is down 0.4% to 5,903.3 points.

Four shares falling more than most today are listed below. Here’s why they are ending the week in the red:

The Afterpay Touch Group Ltd (ASX: APT) share price has given back some of yesterday’s gains and is down 6.5% to $13.49. This decline may be due to a broker note out of Morgans this morning. Although the broker has maintained its add rating, it slashed the price target on the payment solutions company’s shares by over 11% to $19.15.

The Corporate Travel Management Ltd (ASX: CTD) share price has given back most of yesterday’s gains and is down 8.5% to $21.00. Investors appear concerned after VGI Partners demonstrated that it was not backing down with its short seller attack any time soon. According to the AFR, VGI Partners has told the corporate travel specialist that it will need to release the report put together with EY if it wants to prove it wrong.

The FAR Ltd (ASX: FAR) share price has crashed 36% lower to 8.3 cents after the energy company advised that the Samo-1 well was unsuccessful. According to the release, the drilling result of the Samo-1 well was not in line with its pre-drill expectations. The release explains that wireline logs indicate that the main target horizons are water-bearing.

The Lendlease Group (ASX: LLC) share price has dropped 19% lower to $14.12 after the international property and infrastructure company advised that it has identified further underperformance in the financial position of its Engineering and Services business. Because of this, management expects to take a provision in the order of $350 million after tax for the first half of FY 2019. Lendlease has attributed the underperformance to further deterioration in a small number of projects that it had previously identified.

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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 and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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