I’m taking a look at some of today’s bigger stock market fallers.  Are they down with good reason, or do they represent a buying opportunity?

Downgraded expectations

Shares in housing maintenance specialist Lakehouse (LSE: LAKE) have tumbled by a whopping 32% today after it released a profit warning. The company stated that difficulties in its regeneration segment have caused its financial performance to be below previous guidance, with reduced client budgets and changes in procurement structures having a negative impact on its performance in the first half of the year. As a result, Lakehouse has posted a pre-tax loss of £1.8m for the half-year, with its full-year expectations being downgraded.

Clearly, today’s news is disappointing for Lakehouse’s investors and, while it has the potential to turn its performance around, there is a risk that the challenges it has faced of late will continue. So while the company remains confident in its long term outlook — as evidenced by the payment of a 1p per share dividend versus no dividend in the prior half-year —  it may be prudent to watch rather than buy Lakehouse at the present time. That’s especially the case since social landlords must now reduce their rents by 1% each year until 2020, with the possibility of a negative impact on regeneration spend during the period.

Multiple challenges

Also falling today were shares in Crossrider (LSE: CROS), with the digital advertising platform creator stating that it now expects revenue and EBITDA (earnings before interest, tax, depreciation and amortisation) to be 25% lower in the current year versus the previous year. This has caused its shares to slump by 29% today, which brings their fall for 2016 to 51%.

The fall in sales and profitability is at least partly due to structural changes in the markets in which Crossrider operates. Mobile revenue growth rates have declined significantly, especially within mobile subscription campaigns, which have in turn been hurt by increasing regulation in a number of key markets. And with revenue from monetising web apps with advertising being in decline, Crossrider is facing multiple challenges which are set to negatively impact on its bottom line.

Clearly, Crossrider has the capacity to turn its performance around. That’s particularly the case because the company has $70m of cash and could therefore make acquisitions. However, with its near-term performance set to disappoint, there appear to be better opportunities elsewhere.

Upbeat recent results

Meanwhile, Zoltav Resources (LSE: ZOL) is down by 13% today despite no significant news flow having been released by the Russia-focused oil and gas company. Of course, its shares have performed relatively well this year due to an improved outlook for the oil industry, with the price of black gold rising from $28 per barrel to close to $50 per barrel. This has improved investor sentiment in a range of oil and gas companies, with there being further potential for this in the short to medium term.

Furthermore, Zoltav’s share price has benefitted from an upbeat set of results being released last month which showed that it has recorded its maiden operating profit due in part to a rise in revenue of 41%. While this is very positive for the company and its shares could deliver a rise in the coming months, with a number of oil and gas stocks being profitable and trading on low valuations there may be better risk/reward opportunities available elsewhere.

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Peter Stephens has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.