In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.35% to 7,530.3 points.
Four ASX shares that have failed to follow the market higher today are listed below. Hereâs why they are dropping:
Amcor (ASX: AMC)
The Amcor share price is down over 3% to $16.70. Investors have been selling this packaging giantâs shares following the release of its first half results. Amcor reported net sales of US$7.35 billion, which is an increase of 6% on the prior corresponding period. And while management has reaffirmed its full year guidance, this hasnât been enough for some investors.
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is down 10% to $9.37. This follows the release of the wholesale computer hardware and software distributorâs unaudited full year results. Dicker Data reported a 25% increase in revenue to $3.1 billion but a small decline in net profit after tax to $73.4 million. Interestingly, last week, Goldman Sachs warned that Dicker Dataâs earnings could disappoint.
Elders Ltd (ASX: ELD)
The Elders share price is down 5% to $8.90 despite there being no news out of the agribusiness company. However, it was sent a price query by the ASX today. Elders said it could not explain the decline but noted that it âheld two investor briefings yesterday with a number of institutional investors.â
Healius Ltd (ASX: HLS)
The Healius share price is down almost 5% to $2.84. This morning, Morgan Stanley downgraded this healthcare company’s shares to an underweight rating with a trimmed price target of $2.65. It was disappointed with Healiusâ performance during the first half of FY 2023.
The post Why Amcor, Dicker Data, Elders, and Healius shares are dropping today appeared first on The Motley Fool Australia.
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More reading
- With interest rates heading higher again, the risk is to the downside for these popular blue chip ASX shares
- ASX 200 listed Amcor shares tumble despite increased earnings and dividends
- Why Appen, Gold Road, Healius, and Pinnacle shares are dropping today
- Brokers name 3 ASX shares to buy now
- Earn passive income with these ASX 200 dividend shares – experts
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 Dicker Data. The Motley Fool Australia has positions in and has recommended Amcor Plc and Dicker Data. The Motley Fool Australia has recommended Elders. 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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