The S&P/ASX 200 Index (ASX: XJO) is pushing higher in afternoon trade. At the time of writing, the benchmark index is up 0.25% to 8,381.8 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
The Aspen Group share price is down 2% to $3.39. This morning, this affordable living developer released a presentation ahead of its appearance at a conference. Although the company spoke positively about its medium term outlook, investors may have been betting on a guidance upgrade and were disappointed that one didn't happen.
The Healius share price is down 5% to 90.7 cents. This is despite there being no news out of the healthcare company. But with Healthscope going into administration yesterday, it is possible that some investors are concerned about the state of the healthcare sector in Australia. Following today's decline, Healius shares are now down over 40% since 7 May. At one stage today, Healius' share price hit an all-time low of 90 cents.
The Nufarm share price is down 3.5% to $2.41. Investors have been selling this crop protection company's shares since the release of its half year results last week. Although Nufarm reported a 3% lift in revenue to $1,811 million, it recorded a disappointing 39% decline in statutory net profit after tax to $29.8 million. The Seed Technologies business dragged on its earnings, reporting a 71% decline in underlying EBIT to $15.9 million. In response, management revealed that it is now reviewing the business. This includes a potential divestment.
The Propel Funeral Partners share price is down 5% to $4.34. This morning, this funerals company released guidance for FY 2025 ahead of its appearance at an investor conference. Management revealed that it expects revenue of $220 million to $225 million and operating EBITDA of $54 million to $56 million. The latter compares to operating EBITDA of $55.4 million in FY 2024. This reflects natural fluctuations in industry death volumes. In other news, the company released a succession update. This follows the decision of managing director and co-founder, Albin Kurti, to retire on 31 August after 14 years. Propel advised that the board is well advanced in implementing its succession plan. As a result, an announcement regarding future leadership is expected by 30 June.
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