Why Australian Ethical, Collins Foods, DGL, and Sigma shares are falling

These ASX shares are ending the week in the red.

| More on:
A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a strong gain. At the time of writing, the benchmark index is up 1% to 7,247.5 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Australian Ethical Investment Ltd (ASX: AEF)

The Australian Ethical share price is down 11% to $3.22. This means the fund manager's shares have given back almost all of yesterday's strong gains. Investors may believe that its business update wasn't as impressive as it first appeared after factoring in acquisitions.

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is down 3% to $7.70. This is despite there being no news out of the quick service restaurant operator today. However, with its results release coming later this month, some investors may be nervous following a poor update from one of its rivals this week.

DGL Group Ltd (ASX: DGL)

The DGL share price is down a further 12% to 84.5 cents. This diversified industrial company's shares have come under pressure this week after it downgraded its earnings guidance for FY 2023. Cost pressures means DGL now expects ETBIDA of $64 million to $66 million in FY 2023. This compares to its previous guidance of $71.5 million to $73.5 million.

Sigma Healthcare Ltd (ASX: SIG)

The Sigma Healthcare share price is down almost 3% to 83.2 cents. This morning, this pharmacy chain operator and supplier revealed that its CFO has resigned and will leave on 31 August. Nigel Simonsz is pursuing an external opportunity within a large private enterprise as group CFO and CEO of an international business unit.

Motley Fool contributor James Mickleboro has positions in Collins Foods. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Australian Ethical Investment, Collins Foods, and Dgl Group. The Motley Fool Australia has recommended Australian Ethical Investment, Collins Foods, and Dgl Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

A young man goes over his finances and investment portfolio at home.
Growth Shares

1 ASX growth stock down 30% to buy right now

The market has reacted badly to this ASX 200 company's half-year result. This could be your chance to get in.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Flight Centre, Fortescue, Kelsian, and Neuren shares are dropping today

These ASX shares are being hit hard on Wednesday. But why?

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Brainchip, DGL, Weebit Nano, and Zip shares are dropping today

These ASX shares are being hit hard on Tuesday. But why?

Read more »

A man and a woman sit in front of a laptop looking fascinated and captivated.
Share Fallers

This ASX All Ords stock's founders just sold 40 million shares, and the stock dove 14%

This All Ords share's founders just cashed out $30 million.

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Nanosonics, NIB, Santos, and TPG shares are falling today

These ASX shares are starting the week in the red.

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why Accent, Austal, Newmont, and Sandfire shares are plunging today

These ASX shares are ending the week in the red. But why?

Read more »

A young male investor wearing a white business shirt screams in frustration with his hands grasping his hair after ASX 200 shares fell rapidly today and appear to be heading into a stock market crash
Share Fallers

Why Clinuvel, Medibank, Sayona Mining, and Tabcorp shares are sinking today

These ASX shares are out of favour with investors on Thursday. But why?

Read more »

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Corporate Travel Management, Iress, Rio Tinto, and Woolworths shares are crashing

These ASX shares are being sold off on Wednesday. But why?

Read more »