The S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. In afternoon trade, the benchmark index is up 0.2% to 8,211.7 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Graincorp Ltd (ASX: GNC)

The Graincorp share price is down 3.5% to $8.54. Investors have been selling this grain exporter's shares after it released its full year results. Graincorp reported an underlying net profit after tax of $77 million, which is down sharply on the $250 million reported a year earlier. Graincorp CEO Robert Spurway commented: "We responded well to challenging global market conditions and variable crop production across the East Coast of Australia (ECA). Our result demonstrates discipline in operational performance and effective cost management."

Light & Wonder Inc (ASX: LNW)

The Light & Wonder share price is down 4% to $146.01. Investors have been selling the poker machine developer's shares since the release of its second quarter update. Commenting on the update, Goldman Sachs said: "NA Gaming Ops net adds of +585 remained resilient however, saw a 1-week impact from the DT 1.0 preliminary injunction – headwinds are expected to carry through to 1Q25 before accelerating to >500 net adds per quarter; […] We revise LNW FY25-FY27E AEBITDA -1% to -2% and EPSA -2% to -3%." Nevertheless, the broker has retained its buy rating with a slightly trimmed price target $171.90.

Orica Ltd (ASX: ORI)

The Orica share price is down 2% to $17.23. This is despite the release of a solid full year result from the commercial explosives company this morning. Orica reported a 15% increase in EBIT to $806 million for FY 2024. Even management guiding to further EBIT growth in FY 2025 wasn't enough to satisfy investors.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat Resources share price is down 12% to 32.7 cents. This follows reports that the lithium explorer was raided. Wildcat denied the report but advised that it has been issued notices from ASIC. It said: "The Company has not been raided and no Company property was seized by the Australian Securities and Investments Commission (ASIC) and is not aware that the Company is the subject of an ASIC investigation. The Company can confirm that ASIC previously issued notices to the Company requiring it to produce certain books and provide assistance in relation to trading in the Company's securities in 2023. The Company has complied with these requests."