The S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain on Tuesday. In afternoon trade, the benchmark index is up 0.2% to 8,502 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
The Breville share price is down 2.5% to $36.78. This follows the release of the appliance manufacturer's half year results this morning. Breville reported a 10.1% increase in revenue to $997.5 million and a 16.1% increase in net profit after tax to $97.5 million. This was driven by growth across all segments, but particularly the coffee segment. Possibly weighing on its shares was management's outlook commentary. It warned that "macroeconomic uncertainties are expected to continue swirling in the second half." In addition, it notes that the "unknown that we are working through is how, and when, US trade policy might further evolve with various trading partners, particularly China." As a result, it is guiding to FY 2025 EBIT growth of between 5% to 10% for the full year.
The Domino's Pizza Enterprises share price is down over 3% to $34.81. This may have been driven by profit taking again on Tuesday. Especially given how the pizza chain operator's shares surged 20% higher on Friday following the release of a better than expected trading update and the announcement of mass store closures to improve profitability.
The Liontown Resources share price is down 4.5% to 63 cents. This is despite there being no news out of the lithium miner on Tuesday. Though, it is worth noting that a number of ASX lithium shares are falling today. Investors may be concerned that earnings season will be a disappointing period for the industry, especially after yesterday's update from Pilbara Minerals Ltd (ASX: PLS). It revealed that it expects to post a loss for the first half.
The WiseTech Global share price is down 2% to $121.76. This logistics solutions company's shares have come under pressure this week after it revealed that it has received two confidential complaints. These complaints are from an employee and a supplier and make allegations against the company's founder and founding CEO, Richard White. The market may have fears that these complaints could drive White out of his proposed new role. Particularly given confirmation that no definitive agreement on his new contract has been reached by the two parties despite being announced back in October.
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