Although it has given back some of its early gains, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to start the week with a gain of 0.1% to 5,687 points.
Four shares which haven't been able to follow the market higher and have started the week in the red are listed below. Here's why they are lower:
The Metcash Limited (ASX: MTS) share price has fallen almost 4% to $2.64 despite the wholesaler and distributor being the subject of a positive broker note this morning. According to the note, Morgan Stanley has retained its overweight rating and increased its price target to $3.00.
The Orocobre Limited (ASX: ORE) share price has tumbled 5% to $4.18. Australia's lithium miners have come under pressure recently after rampaging higher amid optimism on global lithium demand. While it isn't my first pick in the industry, I do think Orocobre could be one to watch in the future as electric vehicle usage causes lithium demand to increase exponentially.
The Premier Investments Limited (ASX: PMV) share price has fallen 2.5% to $13.40 following the release of its full-year results. Although I felt that the retailer delivered a solid result and provided bullish long-term guidance. The lack of any FY 2018 guidance may be the reason for today's negative reaction.
The Seven West Media Ltd (ASX: SWM) share price has dropped 5% to 68.7 cents. Although some of this decline may relate to disappointment around its failure to agree on a takeover deal for Prime Media Group Limited (ASX: PRT), the majority of the decline is attributable to its shares going ex-dividend this morning.
