In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with a small gain. At the time of writing the index is up just under 0.1% to 6,063.7 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 A2 Milk Company Ltd (ASX: A2M) share price has fallen 3.5% to $12.28 amid concerns that New Zealand exporters could be facing delays at ports in China. According to the NZ Herald, New Zealand's biggest seafood exporter Sanford has reportedly had issues getting salmon exports to China cleared through Chinese ports. There are concerns that this could be in retaliation to New Zealand's Huawei 5G ban.
The Automotive Holdings Group Ltd (ASX: AHG) share price is down 8.5% to $1.63 after announcing a massive $226 million non-cash impairment of its businesses. Management advised that the impairment charges relate to the company's Franchised Automotive business and its Refrigerated Logistics business and reflect a more conservative view of its balance sheet given current market conditions.
The Class Ltd (ASX: CL1) share price has dropped almost 3.5% to $1.47 following the release of its half year results. For the six months to December 31, the SMSF platform provider reported a 12% increase in sales revenue to $19 million and a 2% increase in net profit after tax to $4.4 million. Investors appear concerned by the slowdown in the company's profit growth.
The Whitehaven Coal Ltd (ASX: WHC) share price has plunged over 10% to $4.29 after the release of its half year update. In the first half of FY 2019 the coal miner reported a record net profit after tax of $305.8 million. Whilst this was a big positive, the market appears to be concerned by its rising costs. Management lifted its full year cost guidance to $67 a tonne from $64 a tonne because of higher diesel prices and lower production from its low-cost mines.
