The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its morning gains and is on course to end its winning streak on Wednesday. In afternoon trade the benchmark index is down 0.2% to 6,095.6 points.
Four shares that have fallen more than most today are listed below. Here's why these shares have sunk lower:
The Domino's Pizza Enterprises Ltd (ASX: DMP) share price is down almost 6% to $43.25 after the pizza chain operator's half year result fell short of expectations. Although Domino's posted a 23.7% increase in revenue to $702 million, its net profit after tax only increased 8.4% to $68.2 million during the half. In light of this softer performance, management expects its full year earnings to be at the low end of its guidance range.
The McMillan Shakespeare Limited (ASX: MMS) share price has crashed 18% lower to $11.98 after the salary packaging, novated leasing, and fleet management company's half year results fell short of expectations. For the six months ended December 31, McMillan Shakespeare posted a 1.2% increase in revenue to $273.1 million and a 3.9% decline in half year UNPATA to $42.6 million. Weakness in its Asset Management and Retail Financial Services segments weighed on its performance.
The WiseTech Global Ltd (ASX: WTC) share price has tumbled 12% lower to $20.67 following the release of its half year results. Although the logistics platform provider posted an impressive 68% increase in half year revenue and a 48% lift in net profit, the market appears to have been anticipating another increase to its guidance. But management only maintained its full year revenue and EBITDA guidance.
The Woolworths Group Ltd (ASX: WOW) share price is down 5% to $28.70 after the release of an underwhelming half year result. For the six months ended December 31, the retail giant posted a 2.3% increase in sales to $30,587 million and a 2.1% increase in net profit after tax to $920 million. Unfortunately, things are not expected to get better in the second half, with management warning that trading conditions are expected to be tough for its key Australian Food business.
