In afternoon trade the S&P/ASX 200 index is trading notably higher. At the time of writing the benchmark index is up 0.75% to 6,786 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 AP Eagers Ltd (ASX: APE) share price has continued its slide and is down a further 7.5% to $10.07. The auto retailer's shares have come under pressure after it warned that external trading conditions in the national automotive retail sector remain challenging. As a result, underlying operating profit before tax has fallen 6% over the last 10 months. This led to Ord Minnett downgrading its shares to a hold rating this morning.
The ARQ Group Ltd (ASX: ARQ) share price is down 2.5% to 40 cents. The IT company's shares have been sold off this week after it downgraded its guidance once again. Due to the continued underperformance of its Enterprise division, group underlying EBITDA is expected to be in the range of $13.8 million to $15.8 million. This compares to previous guidance of $16.8 million to $19.3 million.
The Freedom Foods Group Ltd (ASX: FNP) share price is trading 4% lower to $5.57 on the day of its annual general meeting. Investors appear disappointed with the lack of guidance for FY 2020. Management only said that it expects "revenues and operating profits will increase as the Company moves out of the investment cycle, balanced against a requirement to invest in people, systems and process to manage a scaled and diversified business platform."
The G8 Education Ltd (ASX: GEM) share price has crashed lower again and is down 7% to $1.98. This follows the release of a disappointing trading update on Thursday. That update saw the childcare centre operator warn of short-term earnings headwinds impacting its FY 2020 performance. This includes an increase in supply which looks set to weigh on its occupancy levels. As a result, it downgraded its earnings guidance.
