In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory but has fallen just short. At the time of writing, the benchmark index is down slightly to 7,195.7 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Genesis Minerals Ltd (ASX: GMD)
The Genesis Minerals share price is down almost 5% to $1.29. This is despite being no news out of the gold developer and the rest of the industry charging higher today. However, the company has paused its shares from trade this afternoon, which could be an indication that some news is on the way shortly.
National Australia Bank Ltd (ASX: NAB)
The NAB share price is down almost 6% to $26.92. Investors have been hitting the sell button after this banking giant's half-year results disappointed the market. As well as falling short of consensus expectations with its earnings, NAB's result appears to indicate that its net interest margin has peaked sooner than expected. This is putting pressure on the sector as a whole on Thursday.
oOh!Media Ltd (ASX: OML)
The oOh!Media share price is down a further 5% to $1.18. This media company's shares have been hammered this week after it advised that it experienced a "softening media market at the end of Q1 and into Q2 due to a decline in the broader macroeconomic environment in Australia and New Zealand." Unfortunately, things look unlikely to improve quickly, with management warning that April was "particularly soft."
Super Retail Group Ltd (ASX: SUL)
The Super Retail share price is down 8% to $12.39. This follows the release of the retail conglomerate's trading update after the market close yesterday. While Super Retail reported slowing growth across its numerous brands, it is still growing at a solid rate compared to some companies. It seems that some investors were expecting even stronger growth. Rising costs may also be a concern for investors.
