In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. At the time of writing the benchmark index is down 1% to 6,063.1 points.
Four shares that are falling more than most today are listed below. Here's why they are tumbling lower:
The A2 Milk Company Ltd (ASX: A2M) share price is down 2% to $17.65. This morning analysts at Citi retained their sell rating and $17.20 price target on this infant formula company's shares. It believes recent substantial insider selling is a bad sign. Especially at a time when the company is facing excess inventory and longer term regulatory risks, geopolitical issues, and increased competition.
The Appen Ltd (ASX: APX) share price is down 6% to $36.20. Investors have been selling the artificial intelligence company's shares after analysts at Credit Suisse downgraded them to an underperform rating with a reduced price target of $29.00. This follows a weaker than expected half year result from Appen. A big second half will be required to meet its guidance for FY 2020, but the broker notes that it is facing currency headwinds.
The Huon Aquaculture Group Ltd (ASX: HUO) share price has fallen 2% to $3.18. This follows the release of the salmon producer's full year results and the announcement of an equity raising. This morning Huon completed its institutional placement, raising $64 million at a discount of $3.00 per share. These funds will be used to pay down its debt.
The Newcrest Mining Limited (ASX: NCM) share price has dropped 3.5% to $31.06. Investors have been selling Newcrest's shares after a pullback in the gold price overnight. The precious metal came under pressure after the U.S. dollar and Treasury yield rose following comments by the U.S. Federal Reserve. At the time of writing the S&P/ASX All Ordinaries Gold index is down 3%.
