In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.4% to 7,191.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Australian Ethical Investment Limited (ASX: AEF)
The Australian Ethical share price is down 5% to $7.67. Investors appear disappointed with the fund manager's half year results. Although the company delivered a 35% increase in revenue to $35.2 million, its net profit only grew 5% to $5.4 million. This led to Australian Ethical declaring a flat interim dividend at 3 cents per share.
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's share price has tumbled 13.5% to $86.67. Investors have been selling the pizza chain operator's shares after its half year earnings fell short of expectations. Domino's reported an 11.1% increase in network sales but a 5.3% decline in underlying net profit after tax to $91.3 million. This earnings miss was driven largely by its underperformance in Asia.
Scentre Group (ASX: SCG)
The Scentre share price is down almost 5% to $3.00. This morning the shopping centre operator released its full year results and revealed a big improvement in its performance. This allowed Scentre to declare a 14.25 cents per share distribution, which is double what it paid a year earlier. However, taking the shine off the result was that its FFO per share came in below consensus estimates.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is down 3% to $1.40. Investors have been selling this gold miner's shares following the release of its half year results. For the six months ended 31 December, St Barbara reported a 63% decline in underlying profit to $15.1 million. This was driven by weak production during the half.
