The S&P/ASX 200 is on course to finish the week on a high following APRA's decision to scrap the serviceability buffer. In afternoon trade the benchmark index is up 0.4% to 6,745.7 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they are ending the week in the red:
The Coca-Cola Amatil Ltd (ASX: CCL) share price is down 2.5% to $10.22 after the beverage company was downgraded by analysts at Goldman Sachs. According to the note, the broker has downgraded its shares to a sell rating with an $8.50 price target due largely to concerns over the growth prospects of its Australian segment. At one stage the Coca-Cola Amatil share price was down as much as 5%.
The OceanaGold Corp (ASX: OGC) share price has crashed 11% lower to $3.58 after the Governor of Nueva Vizcaya in the Philippines directed local government units to restrain the gold miner's controversial Didipio operation. The company advised that it has filed an injunction against any unauthorised restraint of its operations.
The Superloop Ltd (ASX: SLC) share price is tumbling lower again and is down a further 4% to $1.22. This latest decline means the fibre-optic internet infrastructure company's shares have now fallen 21% since the start of the month. The catalyst for this was a material downgrade to its full year EBITDA guidance. Superloop now expects to deliver full year EBITDA of $7 million to $8 million, compared to its previous guidance of between $13 million and $18 million.
The Whitehaven Coal Ltd (ASX: WHC) share price is down 2.5% to $3.62. As with Coca-Cola Amatil, today's decline appears to have been triggered by a broker note out of Goldman Sachs. According to the note, the broker has downgraded the coal miner's shares to a sell rating with a $3.20 price target. Its analysts made the move due to the weak outlook for thermal coal.
