In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. At the time of writing, the benchmark index is down 0.7% to 7,020.1 points.
Four ASX shares that are falling more than most today are listed below. Hereâs why they are dropping:
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price is down 4% to $4.66. This follows the release of the baby products retailer’s full year results. Baby Bunting reported an 8.3% increase in sales to $507.3 million and a 14.6% lift in net profit after tax to $19.4 million. The latter falls short of the consensus estimate of $25.2 million.
PointsBet Holdings Ltd (ASX: PBH)
The PointsBet share price is down 6% to $3.57 despite there being no news out of the sports betting company. However, it is worth noting that the tech sector is a sea of red today following a poor night of trade on the NASDAQ index. This has seen the S&P/ASX All Technology Index drop by 1.5% this afternoon.
ResMed Inc (ASX: RMD)
The ResMed share price is down 3.5% to $33.38. Investors have been selling this sleep treatment companyâs shares following the release of its full year results. This is despite Goldman Sachs noting that its fourth quarter âRevenue [was] in-line; earnings +4% ahead.â For the full year, ResMed reported a 12% (13% in constant currency) increase in revenue to US$3.6 billion and a 9% lift in non-GAAP net income to US$850.8 million.
Suncorp Group Ltd (ASX: SUN)
The Suncorp share price is down 3.5% to $11.18. Today’s decline has been driven by the insurance giant’s shares trading ex-dividend this morning for its upcoming final dividend. Eligible shareholders can now look forward to receiving its 17 cents per share fully franked dividend next month on 21 September.
The post Why Baby Bunting, PointsBet, ResMed, and Suncorp shares are dropping today appeared first on The Motley Fool Australia.
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More reading
- Resmed share price dips despite profit and dividend boost
- Why is the Suncorp share price slipping today?
- âOur future is looking brightâ: Baby Bunting share price slips despite earnings milestone
- ResMed share price on watch following solid FY22 growth
- 5 things to watch on the ASX 200 on Friday
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pointsbet Holdings Ltd and ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool Australia has recommended Baby Bunting and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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