It has been a fairly uninspiring day for investors today with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) drifting 0.17% lower to 5,751 points.
The mining and utilities sectors have been the worst performers today, although most sectors are struggling to post any decent gains.
A number of shares are getting punished heavily today, including:
Mayne Pharma Group Ltd (ASX: MYX)
The Mayne Pharma share price started the day in negative territory and news that a director has offloaded 600,000 shares certainly hasn't helped the situation. Despite reporting a strong first-half result, the market remains extremely nervous about the pending lawsuit filed against the company for allegedly being involved in anti-competitive behaviour. In mid-afternoon trading, Mayne Pharma shares have fallen 3.3% to $1.31.
Shine Corporate Ltd (ASX: SHJ)
The Shine Corporate share price has fallen another 4% today following the news that the NSW government will crack-down on fraudulent third-party insurance claims. This area has been a big money-spinner for legal firms over the past few years and the reforms are likely to have a negative impact on future claims. Shine Corporate shares have now fallen more than 61% from their 52-week highs.
RXP Services Ltd (ASX: RXP)
The RXP Services share price has fallen 7.5% today, despite the absence of any news from the company. In fact, the IT services company has not released any news since announcing a 35% increase in first-half earnings per share (EPS) and confirming it remains on track to deliver at the top end of its FY17 revenue guidance. Perplexingly, the shares have now lost more than 22% of their value since the result and certainly warrant a closer look at current levels.
iSentia Group Ltd (ASX: ISD)
The iSentia share price has dropped 3.3% today after its shares went ex-dividend. As highlighted here, the shares have been on a wild ride over the past couple of weeks after the media monitoring company announced a hefty profit downgrade. A number of other popular shares are trading ex-dividend today, including Healthscope Ltd (ASX: HSO), Brambles Limited (ASX: BXB), Corporate Travel Management Ltd (ASX: CTD) and IOOF Holdings Limited (ASX: ILF).
