The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. In afternoon trade, the benchmark index is up 0.7% to 7,224.3 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:
Ansell Limited (ASX: ANN)
The Ansell share price is down over 3% to $26.02. This appears to have been driven by a broker note out of Credit Suisse this morning. According to the note, the broker has downgraded this health and safety products company’s shares to an underperform rating with a $24.00 price target. The broker believes input costs could weigh on Ansell’s margins.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The Domino’s share price is down 3% to $66.90. Investors may be nervous ahead of the pizza chain operator’s investor update on Monday. This update is focused on its Asian operations but could include a trading update for the whole company.
Firefinch Ltd (ASX: FFX)
The Firefinch share price is down a massive 63% to 35.2 cents. This has been driven by the gold and lithium explorer’s shares going ex-dividend this morning for its in-specie dividend. This dividend relates to the demerger of the company’s lithium operations. Eligible shareholders will be receiving 1 Leo Lithium share for every 1.4 Firefinch shares they own.
Healius Ltd (ASX: HLS)
The Healius share price is down 8.5% to $3.81. Investors have been selling this healthcare company’s shares following the release of a trading update. That update revealed that trading conditions have been tough in the second half. As a result, during the first five months of the half, Healius has generated just under $100 million of EBIT. This compares to first half EBIT of $376 million.