The S&P/ASX 200 index has failed to follow the lead of U.S. markets and is trading lower. In afternoon trade the benchmark index is down 0.3% to 6,814.9 points.
Four shares that are falling more than most today are listed below. Here's why they are ending the week in the red:
The AMA Group Ltd (ASX: AMA) share price has crashed 18.5% to 89.5 cents. This morning the crash repairs company released a market update which revealed that trading conditions have been tough. As a result, it expects to deliver normalised EBITDA (excluding one-offs) in the range of $73 million and $77 million in FY 2020. As a comparison, in an October 1 investor presentation, management said that it expected combined AMA normalised EBITDA of over $100 million in FY 2020 following its SMART acquisition.
The Jumbo Interactive Ltd (ASX: JIN) share price has fallen 14% to $15.83 after the release of a trading update. The online lottery ticket seller revealed that it expects to deliver a solid 24% increase in revenue in the first half. However, due to increased business development costs, its margins have softened. As a result, it expects to post net profit after tax growth of just 13% to $14.3 million.
The Lendlease Group (ASX: LLC) share price is down 4% to $18.16. The catalyst for this decline was news that it is selling its Engineering business to Acciona Infrastructure Asia Pacific for $180 million. Investors appear disappointed that the troubled Melbourne Metro project has been excluded from the sale. Lendlease recently advised that the start of this project has been slower than anticipated and there have been issues in relation to the scope and costs on the project.
The Regis Healthcare Ltd (ASX: REG) share price is sinking 17% lower to $2.64. Investors have been selling the aged care provider's shares following the release of a disappointing trading update. Tough trading conditions have been weighing on its occupancy rate and have forced management to downgrade its guidance. It now expects normalised EBITDA of $92 million and normalised net profit after tax of $28 million. This represents a ~12.5% and ~26.5% downgrade, respectively, to its previous guidance.
