The S&P/ASX 200 Index (ASX: XJO) is having a tough time on Tuesday. In afternoon trade, the benchmark index is down 1.4% to 7,110.3 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Aroa Biosurgery Ltd (ASX: ARX)
The Aroa Biosurgery share price is down 7% to 94 cents. This morning this medical device company released its full-year results. Aroa Biosurgery reported a 55% increase in product revenue to NZ$60.5 million but a loss before tax of NZ$0.9 million. Management is guiding to product revenue of NZ$72 million to NZ$75 million in FY 2024.
Bank of Queensland Ltd (ASX: BOQ)
The Bank of Queensland share price is down 5% to $5.49. This follows news that the regional bank has entered into a voluntary enforceable undertaking with APRA. This will address remediation of weaknesses in the bank's risk management practices, controls, systems, governance and risk culture.
Champion Iron Ltd (ASX: CIA)
The Champion Iron share price is down 2% to $5.98. Investors have been selling this iron ore miner's shares following the release of its full-year results. Champion Iron reported revenue of C$1,395.1 million and EBITDA of C$493.2 million. Goldman Sachs was expecting EBITDA of C$496 million.
Terracom Ltd (ASX: TER)
The Terracom share price is down 6% to 48.5 cents. This morning, this coal miner announced plans to pay a 3 cents per share fully franked dividend for the three months ended 31 March. Investors may have been hoping for a larger dividend given that it has already paid 17.5 cents per share for the first half of FY 2023.
