The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and is pushing higher. At the time of writing, the benchmark index is up 0.9% to 8,492.1 points.

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

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is down 4% to $1.45. Investors have been selling this energy producer's shares following the release of its half year results. According to the release, Beach reported a 5% increase in sales revenue to $990 million and a 20% increase in underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) to $587 million. This allowed Beach Energy to boost its interim dividend by 50% to 3 cents per share. However, it has narrowed its production guidance range for the full year. Its upper target is now 20.5 MMboe instead of 21.5 MMboe.

Myer Holdings Ltd (ASX: MYR)

The Myer share price is down 2% to 87.2 cents. This morning, Premier Investments Ltd (ASX: PMV) announced that it has now distributed 1,151.5 million Myer shares to eligible shareholders as part of the Apparel Brands demerger. It appears that some investors have decided to cash in these shares immediately and are selling them today.

PEXA Group Ltd (ASX: PXA)

The PEXA share price is down 4% to $12.32. This follows the release of an update this morning from the property settlements company. PEXA revealed that it expects to recognise a non-cash impairment charge of approximately $15 million in its results. This relates to the impairment of a minority investment. In light of this, specified items are now expected to impact its profits by $35 million to $40 million instead of $15 million to $20 million. In addition, Pexa expects a tax expense of $40 million to $45 million, which is up from its guidance of $13 million to $18 million.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle Investment Management share price is down 1.5% to $25.63. This may have been driven by profit taking from investors after some strong gains this week. In fact, even after today's weakness, this investment management company's shares are up over 130% since this time last year. The catalyst for this has been its strong performance in FY 2024 and FY 2025. In respect to the latter, earlier this week Pinnacle reported a 151% jump in half year net profit after tax to $75.7 million.