In early afternoon trade the S&P/ASX 200 index is on course to finish the week on a positive note. At the time of writing the benchmark index is up 0.15% to 6,347 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 Apollo Tourism & Leisure Ltd (ASX: ATL) share price has crashed a further 14% lower to 55.5 cents. This latest decline means the recreation vehicle (RV) company's shares have now fallen over 35% in the space of just two days. Investors have been heading to the exits in their droves after the company downgraded its full year profit guidance. Due to tough trading conditions, management expects NPAT to be between $17.5 million and $19.5 million in FY 2019. This compares to its previous guidance of between $22 million and $24 million.
The Bravura Solutions Ltd (ASX: BVS) share price has returned from its trading halt and dropped 4% to $5.98. The fintech company's shares were in a trading halt whilst it undertook a fully underwritten $165 million institutional placement. The placement had a floor price of $5.50 per share, but the company revealed this morning that it managed to raise the funds at $5.75 per share. In other news, shareholders of takeover target GBST Holdings Limited (ASX: GBT) voiced concerns over its proposal this morning.
The Janus Henderson PLC (ASX: JHG) share price has crashed 11% lower to $31.39 after the release of a disappointing first quarter update. The asset manager reported first quarter net income of US$94.1 million, which was down a sizeable 43% on the prior corresponding period.
The Macquarie Group Ltd (ASX: MQG) share price has tumbled 5.5% lower to $128.50 after the release of the investment bank's full year results. Although Macquarie reported an impressive 17% increase in full year profit to a record of $2,982 million, its guidance for next year appears to have disappointed the market. Management warned that the bank's profit is expected to be slightly lower in FY 2020.
