In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 1% to 8,753.2 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:
EQ Resources Ltd (ASX: EQR)
The EQ Resources share price is down 5.5% to 25.5 cents. This follows news that the tungsten producer announced that it will not go ahead with the proposed acquisition of Tungsten Metals Group. EQR Resources’ managing director, Craig Bradshaw, said: “Following thorough engagement with TMG Group throughout 2025 and a careful review of our strategic priorities during the second and third quarters of FY2026, the Board has determined that proceeding with the acquisition is not in the best interests of shareholders at this time.”
Inghams Group Ltd (ASX: ING)
The Inghams share price is down 4% to $1.81. This may have been driven by a broker note out of Bell Potter. According to the note, the broker has downgraded the poultry producer’s shares to a hold rating (from buy) with a reduced price target of $2.00 (from $2.75). It said: “We downgrade our rating from Buy to Hold. Recent commentary from other ASX listed entities would imply a softening in foodservice and out-of-home channels as consumer confidence has weakened over March-April.”
ResMed Inc (ASX: RMD)
The ResMed share price is down 4% to $28.53. Investors have been selling the sleep disorder treatment company’s shares following the release of its third-quarter update. ResMed reported an 11% (8% in constant currency) increase in revenue to US$1.4 billion. However, higher expenses meant that net income increased at a slower rate of 9% to US$398.7 million. ResMed’s CEO, Mick Farrell, said: Our third quarter results reflect the continued strength of our global business, driven by ongoing demand for our market-leading products and disciplined execution of our strategy.”
Skycity Entertainment Group Ltd (ASX: SKC)
The Skycity share price is down over 3% to 52.2 cents. This morning, the casino and resorts operator downgraded its earnings guidance. It now expects underlying EBITDA to be $180 million to $190 million. This is down from its previous guidance of $190 million to $210 million. The company blamed the negative impact that rising fuel prices are having on consumers.
The post Why EQ Resources, Inghams, ResMed, and Skycity shares are tumbling today appeared first on The Motley Fool Australia.
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More reading
- What’s going on with ResMed shares today?
- Resmed reports double-digit revenue and profit increases in Q3 FY26
- 5 things to watch on the ASX 200 on Friday
- How to build a $500,000 ASX share portfolio in 25 years
- What’s making healthcare the worst sector on the ASX 200, down 39% in a year?
Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.