In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to end its winning streak following heavy declines on international markets. At the time of writing the index is down 0.1% to 6,226 points.
Four shares that have fallen 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 fallen 3% to 95 cents. This morning the collision repair centres and services workshops operator advised that its acquisition of Blackstone would not go ahead after the Deputy Commissioner of Taxation refused its request for a Ruling for Demerger Relief.
The Bellamy's Australia Ltd (ASX: BAL) share price has dropped 5.5% lower to $16.98 after being downgraded by Morgans. According to the note, the broker has downgraded Bellamy's shares to a hold rating from add with an $18.50 price target. The broker appears concerned with the lack of news on the CFDA front. It fears that any delays could mean Bellamy's falls short of the broker's FY 2019 earnings forecasts.
The Hansen Technologies Limited (ASX: HSN) share price has plunged 25% lower to $3.30 following the release of a trading update. According to the release, the billing solutions company expects to deliver revenue of $230 million and EBITDA of $58 million in FY 2018. This will be an increase of 32% and 26%, respectively, on the prior corresponding period. While this is slightly below expectations, it is still strong growth. However, the outlook for FY 2019 appears to be rather subdued. Though, its shares could be worth a closer look after this decline.
The Ramsay Health Care Limited (ASX: RHC) share price has continued its decline and is down a further 3% to $55.85. The private hospital operator's shares have come under significant selling pressure since it downgraded its guidance yesterday. One broker that wasn't impressed was Credit Suisse. It has retained its underperform rating and cut the price target on Ramsay's shares to $54.00. I would suggest investors stay clear of Ramsay until trading conditions improve.
