In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to finish the day in the red. At the time of writing, the benchmark index is down 0.4% to 8,632.9 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:
Commonwealth Bank of Australia (ASX: CBA)
The CBA share price is down 10% to $154.64. This follows the release of the big four bank’s third-quarter update this morning. CBA revealed that its operating income was flat on the first-half quarterly average, with higher net interest income offset by lower other operating income. Cash profit was down 1% on the first-half quarterly average. This was softer growth than the market was expecting. However, the federal budget overnight also appears to have impacted sentiment and could be adding further pressure to CBA shares on Wednesday. The team at Morgan Stanley has warned that the budget creates more downside risk for bank earnings multiples.
Healius Ltd (ASX: HLS)
The Healius share price is down 21% to 38.2 cents. This morning, the pathology company released a trading update and revealed that it expected to report EBIT of $30 million to $35 million in FY 2026. The company also spoke critically about the federal budget, highlighting that inadequate funding is causing challenges. It said: “Last night’s Federal Budget contains no new funding for pathology, a sector already operating under an indexation freeze for most tests. [â¦] Inadequate funding has resulted in difficult decisions to cut staff, close collection centres and regional laboratories. This year’s Federal Budget will put additional pressure on a sector which is a critical part of Australia’s primary healthcare system.”
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is down 11% to $11.29. This follows the release of a trading update from the uranium producer this morning. Paladin Energy posted a 51% increase in revenue to US$209.1 million for the nine months. However, its net profit after tax was only US$1.7 million. It also recorded an operating cash outflow of US$36.4 million. Investors appear to have been expecting stronger financial results for the nine months.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is down 4% to $5.10. This morning, the online furniture retailer revealed that FY 2026 revenue is expected to be in the range of $665 million to $675 million. This will be an increase of 11% to 12% on the prior corresponding period. Temple & Webster’s EBITDA is expected to be in the range of $20 million to $22 million. This will be an increase of 6% to 17% over the prior corresponding period. Temple & Webster’s outgoing founder and CEO, Mark Coulter, said: “We remain firmly focused on growing our market share and reaching $1 billion in revenue by FY28, and becoming a larger, more profitable business. However right now, given the uncertainty in the Australian economy, we have prudently chosen to rebalance between profit and growth in our core business.”
The post Why CBA, Healius, Paladin Energy, and Temple & Webster shares are sinking today appeared first on The Motley Fool Australia.
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More reading
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- Why the big four banks could keep delivering for income investors
Motley Fool contributor James Mickleboro has positions in Temple & Webster Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group. The Motley Fool Australia has recommended Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.