In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is pushing higher and finds itself up almost 0.3% to 5,753 points.
Unfortunately not all shares have followed the market higher today. Here's why these four shares have sunk like stones:
The Healthscope Ltd (ASX: HSO) share price has continued its decline and fallen a further 5% to $1.75. Yesterday the company released a weak full-year result which saw statutory net profit after tax fall 38.8% to $110.9 million. Further to this, in FY 2018 its Hospitals EBITDA is expected to be flat. I believe there are better options out there for investors even after its heavy decline.
The Nanosonics Ltd. (ASX: NAN) share price has tumbled over 6% to $2.21 despite the infection control specialist reporting record sales of $67.5 million and profit after tax of $26.2 million. Investors may be concerned at the strong rise in operating expenses next year due largely to investments in research and development. I think Nanosonics could be worth a look after this decline.
The Trade Me Group Ltd (ASX: TME) share price has plunged almost 7% to $4.17 despite the online marketplace provider posting a 26% increase in net profit to NZ$94.4 million. It appears as though investors were disappointed with its guidance for FY 2018. Although revenue is expected to continue growing strongly, management expects profit growth to slow due to a higher level of planned investments.
The Woolworths Limited (ASX: WOW) share price has fallen 3.5% to $26.00 a day after the release of its full-year results. Today's decline could be attributable to a research note out of Credit Suisse this morning which revealed that its analysts have retained their underweight rating and $22 price target on the conglomerate's shares.
