In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. At the time of writing, the benchmark index is down 0.7% to 7,020.1 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Image source: Getty Images
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price is down 4% to $4.66. This follows the release of the baby products retailer's full year results. Baby Bunting reported an 8.3% increase in sales to $507.3 million and a 14.6% lift in net profit after tax to $19.4 million. The latter falls short of the consensus estimate of $25.2 million.
PointsBet Holdings Ltd (ASX: PBH)
The PointsBet share price is down 6% to $3.57 despite there being no news out of the sports betting company. However, it is worth noting that the tech sector is a sea of red today following a poor night of trade on the NASDAQ index. This has seen the S&P/ASX All Technology Index drop by 1.5% this afternoon.
ResMed Inc (ASX: RMD)
The ResMed share price is down 3.5% to $33.38. Investors have been selling this sleep treatment company's shares following the release of its full year results. This is despite Goldman Sachs noting that its fourth quarter "Revenue [was] in-line; earnings +4% ahead." For the full year, ResMed reported a 12% (13% in constant currency) increase in revenue to US$3.6 billion and a 9% lift in non-GAAP net income to US$850.8 million.
Suncorp Group Ltd (ASX: SUN)
The Suncorp share price is down 3.5% to $11.18. Today's decline has been driven by the insurance giant's shares trading ex-dividend this morning for its upcoming final dividend. Eligible shareholders can now look forward to receiving its 17 cents per share fully franked dividend next month on 21 September.
