Why ASX, Challenger, Flight Centre, and Goodman shares are falling today

The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Tuesday. In afternoon trade, the benchmark index is down 0.4% to 8,659.6 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

ASX Ltd (ASX: ASX)

The ASX share price is down 12% to $51.72. This follows the release of guidance for FY 2027 from the stock exchange operator this morning. ASX revealed that FY 2027 total expense growth is expected to be between 18% and 21%. It advised: “This is primarily driven by technology modernisation, the expanded Accelerate Program as part of our response to the ASIC Inquiry and investments to support customer-driven growth.” The company has also increased its capex guidance for FY 2027. It now expects capex of $180 million to $200 million (from $160 million to $180 million). It then expects capex of $170 million to $190 million in FY 2028.

Challenger Ltd (ASX: CGF)

The Challenger share price is down 5% to $8.88. This is despite the annuities company releasing its investor day update and speaking positively about its outlook. Challenger’s CEO, Nick Hamilton, said: “Our transformation of recent years has brought us to this moment as a simpler, more focused business. We’re building the bridge between the accumulation system and the retirement system through distribution partnerships, advice and product innovation, and customer education. We’re making guaranteed income accessible in ways it simply wasn’t before. I have never been more confident in our strategic position, or more excited for the opportunity that’s here.”

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down over 3% to $9.95. The catalyst for this has been the release of a trading update from the travel agent this morning. Flight Centre advised that for the nine months to 31 March, it achieved a 7.6% year-on-year increase in total transaction value (TTV) to $19.5 billion. While this was solid, investors appear concerned with its performance since the end of March. Management advised that it has been “heavily impacted by Middle East tensions.” It estimates that it lost $10 million in profits in April because of the tensions due to increased refunds. Looking ahead, it warned: “May and June are typically stronger leisure trading months and ongoing volatility leading to cancellations, refunds and reduced forward bookings could be expected to have greater impact in those months.”

Goodman Group (ASX: GMG)

The Goodman share price is down 2% to $29.41. This morning, this industrial property company released its third-quarter update and revealed strong numbers. And while it is now expecting to at least achieve its operating earnings per share growth guidance in FY 2026, it seems that some investors were betting on a firmer guidance upgrade.

The post Why ASX, Challenger, Flight Centre, and Goodman shares are falling today appeared first on The Motley Fool Australia.

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• Why are Goodman shares tumbling 5% today?
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Motley Fool contributor James Mickleboro has positions in Goodman Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Challenger, Flight Centre Travel Group, and Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.