The S&P/ASX 200 index is on course to wipe out all its weekly gains and finish the week on a very disappointing note. At the time of writing the benchmark index is down 0.9% to 6,177.2 points.
Four shares that have fallen more than most today are listed below. Here's why they are ending the week deep in the red:
The Bravura Solutions Ltd (ASX: BVS) share price is down a sizeable 6% to $5.08. The provider of software products and services to the wealth management and funds administration industries has been caught up in a tech selloff which has dragged the S&P/ASX 200 Info Tech index 2.2% lower today. Profit taking and a switch to risk off assets appears to have driven the selling.
The Kathmandu Holdings Ltd (ASX: KMD) share price has tumbled 4.2% to $2.25. The retailer's shares have come under pressure today after a broker note out of Morgan Stanley revealed that its analysts have held firm with their equal weight rating but slashed their price target down from $3.00 to $2.60. Morgan Stanley is expecting a soft second half due to Kathmandu cycling tough comparable sales.
The Speedcast International Ltd (ASX: SDA) share price has dropped 2.5% to $3.74. Investors have been heading to the exits after analysts at Macquarie downgraded its shares to an underperform rating from neutral. The broker also trimmed the price target on Speedcast's shares to $2.85 due partly to concerns over the stability of its dividend.
The Treasury Wine Estates (ASX: TWE) share price has fallen 3% to $14.74. This morning analysts at Goldman Sachs reiterated their sell rating and $13.70 price target on the wine giant's shares. According to the note, the broker believes that recent trends in China and the U.S. means that the wine giant will fall short of its EBITS guidance in FY 2019.
