Why Beach, Eclipx, Incitec Pivot, & Volpara shares sank lower today

The Eclipx Group Ltd (ASX:ECX) share price and the Incitec Pivot Ltd (ASX:IPL) share price are two of four sinking lower on Tuesday. Here's why…

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It has been a disappointing start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.6% to 5,870.1 points.

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

The Beach Energy Ltd (ASX: BPT) share price has dropped over 4% to $1.63 after oil prices tumbled lower during U.S. trade. At one stage during the session oil prices were down as much as 4%. They have since rebounded slightly during Asia trade, but are still down meaningfully since Friday. Prices tumbled after weak industrial earnings sparked demand fears.

The Eclipx Group Ltd (ASX: ECX) share price has fallen 20% to $2.13 after the leading provider of fleet, equipment leasing and management, vehicle rentals and online auction services warned that it has had a weaker than expected first half. This has been caused by "softer Consumer and continued softness in Insolvency/Industrial auction market conditions".

The Incitec Pivot Ltd (ASX: IPL) share price has tumbled 8.5% lower to $3.26. Investors have been hitting the sell button in a hurry today after the specialty chemicals company advised that outages at its Louisiana and Phosphate Hill plants are going to impact its EBIT by approximately $45 million during FY 2019.

The Volpara Health Technologies Ltd (ASX: VHT) share price has dropped 10.5% to $1.11 following the release of the health technology company's third quarter update. Although Volpara revealed that its Annual Recurring Revenue (ARR) was up 56% since the end of FY 2018 to NZ$5.6 million, this was lower than expected. The company blamed the shortfall on the confusion caused by the introduction of GDPR in Europe in mid-2018, its US sales team taking time to get fully productive, and the longer than expected time it's taking to close deals with some very big US screening organisations.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. 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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