Why Adairs, Bigtincan, Regis Resources, and Telix shares are sinking

These ASX shares are starting the week in the red…

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In afternoon trade on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.4% to 7,146.3 points.

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

Adairs Ltd (ASX: ADH)

The Adairs share price is down 22% to $2.98. This follows the release of a first half trading update from the furniture and homewares retailer this morning. Although Adairs’ recorded sales broadly in line with the prior corresponding period, significant weakness in its margins means that its earnings are expected to almost halve during the first half. COVID impacts were largely behind this weakness.

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is down 4.5% to 85 cents. Weakness in the tech sector appears to have offset the release of the sales enablement software provider’s solid second quarter update. In respect to the latter, Bigtincan reported a 133% increase in its annualised recurring revenue (ARR) to $112 million. Though, some of this relates to its Brainshark acquisition. Nevertheless, this puts Bigtincan on course to achieve its ARR guidance of $119 million in FY 2022.

Regis Resources Limited (ASX: RRL)

The Regis Resources share price is down 13% to $1.83 following the release of an update on its FY 2022 guidance. According to the release, the gold miner has downgraded its production guidance to between 420,000 ounces and 475,000 ounces of gold. This is down from 460,000 ounces to 515,000 ounces previously. In light of this lower production, the company’s costs are expected to be higher than previous guidance.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix share price is down almost 13% to $7.06. This follows the completion of a $175 million institutional placement at a 4.8% discount of $7.70 per new share. The biopharmaceutical company will now seek to raise a further $25 million via a share purchase plan. Telix raised the funds to support the execution of its late stage clinical product pipeline and advance multiple programs towards commercialisation.

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Motley Fool contributor James Mickleboro owns TELIXPHARM DEF SET. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended ADAIRS FPO and BIGTINCAN FPO. The Motley Fool Australia owns and has recommended ADAIRS FPO. The Motley Fool Australia has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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