In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from an earlier decline and is on course to finish the day higher. At the time of writing the benchmark index is up 0.3% to 6,167.5 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they have tumbled lower on Thursday:
The Amaysim Australia Ltd (ASX: AYS) share price has returned from its trading halt and plunged 8% lower to 87 cents. The junior telco company's shares had been halted since the release of its half year results and the launch of an entitlement offer to raise $35.1 million. These funds were raised at a significant discount of just 60 cents per share. Amaysim will now try to raise $15.5 million via a retail entitlement offer.
The Inghams Group Ltd (ASX: ING) share price has tumbled 8.5% to $4.02 after its half year results fell short of expectations. The poultry producer posted an underlying net profit after tax of $55.4 million, down 5.3% on the prior corresponding period. Management warned that it expects feed costs to remain high through to the start of the next domestic grain harvest in December. It will aim to pass the costs on to the market when necessary.
The NEXTDC Ltd (ASX: NXT) share price has dropped 3.5% to $6.27. Today's decline could be attributable to a broker note out of Deutsche Bank this morning. According to the note, the broker has downgraded the data centre operator's shares to a sell rating following the release of its half years results on Wednesday.
The SEEK Limited (ASX: SEK) share price has fallen 2% to $18.40. As with NEXTDC, today's decline appears to be attributable to a broker note. According to a note out of UBS, its analysts have downgraded the job listings company's shares to a sell rating and cut the price target on them to $17.00. The broker made the move due to concerns over the Chinese macro environment and ANZ job volumes in the second half.
