In afternoon trade the S&P/ASX 200 Index has fought back from a morning decline and edged into the black. At the time of writing the index is 0.1% higher at 6,226.5 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they have tumbled lower:
The Domino's Pizza Enterprises Ltd (ASX: DMP) share price is down almost 3% to $43.45. This morning analysts at Citi retained their neutral rating and $45.60 price target on the pizza chain operator's shares following a visit to its Japanese operations. Although the broker remains positive on its long term opportunity in the country, it remains concerned that Domino's could fall short of its guidance in FY 2019.
The Flight Centre Travel Group Ltd (ASX: FLT) share price has fallen 3% to $42.60, which means that its shares have given back Monday's gains and more. Yesterday the travel agent's shares pushed higher after announcing that it has strengthened its presence in the global corporate travel sector by securing a 25% interest in The Upside Travel Company.
The Praemium Ltd (ASX: PPS) share price has continued its slide and is down a further 8.5% to 43 cents. The investment platform company's shares have been smashed this week after it announced the loss of a major customer. According to the release, ANZ Private, which accounted for 8% of Praemium's revenue, has switched to a rival platform provider. Non-executive director Daniel Lipshut has taken advantage of the selling to pick up 50,000 shares through an on-market trade.
The South32 Ltd (ASX: S32) share price is down 2.5% to $3.78 after being downgraded by analysts at Goldman Sachs. According to the note, the broker made the move on the belief that the mining giant's shares are overvalued following a solid share price gain in 2019. It downgraded South32's shares to a sell rating with a $3.20 price target.
