In afternoon trade the S&P/ASX 200 index is on course to finish the day higher. At the time of writing the benchmark index is up 0.2% to 6,298.8 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they have tumbled lower:
The BWX Ltd (ASX: BWX) share price has crashed 20% lower to $1.59 after the personal care products company downgraded its EBITDA guidance for the full year. Because of the expected underperformance of the Sukin brand in the fourth quarter due to it cycling unprofitable promotions and unnecessary stock building, management expects "trading" EBITDA to be between $21 million and $23 million in FY 2019. Previous guidance was for underlying EBITDA in the range of $27 million and $29 million.
The Experience Co Ltd (ASX: EXP) share price has fallen 15% to 25 cents after the adventure tourism company provided an update on trading in the second half. Unfortunately, the softer trading conditions it experienced in Far North Queensland during the first half have continued and have impacted its performance. As a result, underlying EBITDA is expected to be in the range of $27 million to $28 million in FY 2019, compared to its previous guidance of between $30 million and $33 million.
The Superloop Ltd (ASX: SLC) share price has dropped 8% to $1.77 after the independent provider of connectivity services provided an update on the takeover proposal it received from QIC Private Capital. According to the release, the two parties have been unable to agree to a transaction and have decided to discontinue the period of exclusivity. No further details were provided and it is unclear whether this is the end of talks completely.
The Westpac Banking Corp (ASX: WBC) share price has dropped 4.5% to $25.69. The majority of this decline is attributable to the banking giant's shares trading ex-dividend this morning for its fully franked 94 cents per share interim dividend. This dividend will now be paid to eligible Westpac shareholders in six weeks on June 24.
