At lunch the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to end its five-trading day winning streak and is down 0.3% to 5,872.2 points.
Here's what has been happening on the benchmark index so far on Tuesday:
Woolies and Wesfarmers downgraded.
The Woolworths Group Ltd (ASX: WOW) share price and the Wesfarmers Ltd (ASX: WES) share price have dropped lower on Tuesday after being downgraded by Citi and Goldman Sachs, respectively. Citi downgraded Woolworths to a neutral rating largely for valuation reasons, while Goldman Sachs downgraded Wesfarmers due to concerns over its Bunnings business.
BHP update.
The BHP Group Ltd (ASX: BHP) share price has edged lower despite the release of a solid first half production update. Investors may be disappointed by the decline in iron ore production during the second quarter caused largely by its runaway train derailment. Its shares are down 1% at lunch.
ACCC's TPG-Vodafone Australia merger decision delayed.
The TPG Telecom Ltd (ASX: TPM) share price has edged lower after the Australian reported that the ACCC will delay making a decision on its merger with Vodafone Australia until April 11 due to a lack of information. The Telstra Corporation Ltd (ASX: TLS) share price has edged higher on Tuesday despite this news.
Super Retail names its new CEO.
The share market appears pleased to learn that Super Retail Group Ltd (ASX: SUL) has found its successor to CEO Peter Birtles. The retail group has promoted the managing director of its Outdoor Retailing business, Anthony Heraghty, to the top job. Super Retail's shares are up 3% on the news at lunch.
Best and worst performers.
The best performer on the ASX 200 at lunch is the Syrah Resources Ltd (ASX: SYR) share price which up 6% despite there being no news out of the graphite miner. Not far behind is the Domain Holdings Australia Ltd (ASX: DHG) share price which has stormed over 4% higher today. Going the other way is the Automotive Holdings Group Ltd (ASX: AHG) share price which has fallen a further 3%. The auto retailer's shares are now down almost 60% since this time year due to concerns over the impact tough trading conditions are having on its financial performance.
