In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its positive run and is on course to finish the week on a high. At the time of writing the index is up over 0.5% to 5,883.1 points.
Four shares that have failed to follow the market higher today are listed below. Here’s why they are ending the week in the red:
The Clean TeQ Holdings Limited (ASX: CLQ) share price has plunged 9% lower to 45.5 cents after the nickel, cobalt, and scandium company provided its December quarter update. Investors don’t appear to have been impressed with the level of progress made towards the development of its Sunrise Project during the quarter. One positive, though, was that it finished the period with a cash balance of $117.4 million.
The FBR Ltd (ASX: FBR) share price is down 4% to 11.5 cents despite there being no news out of the robotics company. However, prior to today its shares had rocketed 60% higher since the start of the week. Investors have been fighting to get hold of shares after the company revealed its path to commercialisation.
The Japara Healthcare Ltd (ASX: JHC) share price is down 3% to $1.78. Japara and the rest of the aged care providers have dropped lower today after the Royal Commission into Aged Care Quality and Safety got underway in Adelaide. Based on the banking inquiry, I suspect that the shares of Japara could remain under pressure until the release of the interim report at the end of October.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is down 2% to $6.46 after the airport operator released its December traffic update. In December the airport operator experienced a 2.6% decline in domestic passenger numbers. One positive was that international passenger numbers continued their growth and rose 3.7% during the month.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings 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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