It has been an underwhelming day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Thursday. At the time of writing the benchmark index is down slightly at 6,187 points.
Four shares that have fallen more than most today are listed below. Here's why they have taken a tumble:
The Beadell Resources Ltd (ASX: BDR) share price is down almost 8% to 6 cents. The gold miner has now given back almost all the strong gains it made on Monday after announcing a scheme implementation deed with US-listed peer Great Panther Silver. The all-scrip scheme valued Beadell at 8.63 cents per share. However, the Great Panther Silver share price has fallen 15% this week after its shareholders reacted negatively to the deal. As an all-scrip deal, the share price decline makes the offer less attractive to Beadell shareholders.
The Japara Healthcare Ltd (ASX: JHC) share price is down 2% to $1.35. This morning the embattled aged care provider's shares went ex-dividend for its final fully franked 3.75 cents per share dividend. Eligible shareholders can now look forward to receiving this dividend in their nominated accounts of October 30.
The Macquarie Telecom Group Ltd (ASX: MAQ) share price has fallen 3% to $23.44. A good portion of today's decline can be attributed to the telecom and data centre company's shares also going ex-dividend this morning for its final dividend of 25 cents per share. This will be the last dividend that the company pays for a little while as it reinvests its profits into growth opportunities.
The Xero Limited (ASX: XRO) share price has dropped 2% to $48.72. After the market closed on Wednesday the accounting software company provided a trading update and announced the launch of an offering of US$300 million of guaranteed senior unsecured convertible notes due 2023. While management provided solid earnings growth guidance for the year ahead, it appears that some were expecting even better.
