The S&P/ASX 200 Index (ASX: XJO) is having a better day on Tuesday. In afternoon trade, the benchmark index is up 1.1% to 8,695.8 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:
Coles Group Ltd (ASX: COL)
The Coles share price is down 2.5% to $20.57. This has been driven by the supermarket giant’s shares trading ex-dividend this morning. Last month, the company released its half-year results and declared a fully franked interim dividend of 41 cents per share. Eligible shareholders can look forward to receiving this payout later this month on 30 March.
Pantoro Gold Ltd (ASX: PNR)
The Pantoro Gold share price is down 20% to $3.90. This appears to have been driven by the release of the gold miner’s half-year results after the market close on Monday. Although the company reported a significant jump in revenue to $238.6 million (from $153.4 million) and an even larger increase in EBITDA to $135.5 million (from $63.8 million), this was overshadowed by a guidance downgrade. Management revealed that it now expects production of 86,000 ounces to 92,000 ounces for FY 2026. This is down from its previous guidance range of 100,000 ounces to 110,000 ounces. This has been driven by a significant rain event associated with ex-tropical cyclone Mitchell in February, which negatively impacted operations at Norseman.
Seek Ltd (ASX: SEK)
The Seek share price is down 2% to $16.09. Investors have been selling this job listings giant’s shares after they were downgraded by analysts at Macquarie Group Ltd (ASX: MQG). According to the note, Macquarie has downgraded Seek’s shares to a neutral rating with a trimmed price target of $18.50. The broker has concerns over the outlook for the Australian job market given rate hikes, automation, and AI disruption.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside share price is down over 5% to $29.66. This has been driven by a sharp pullback in oil prices overnight after US President Donald Trump suggested that the US could take control of the Strait of Hormuz. This would help with bringing oil supply back to the market. It isn’t just Woodside shares falling today. At the time of writing, the S&P/ASX 200 Energy index is down over 4%.
The post Why Coles, Pantoro Gold, Seek, and Woodside shares are falling today appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.