Why Collins Foods, EBR, Gold Road, and Woodside shares are dropping today

These ASX shares are ending the week deep in the red.

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The S&P/ASX 200 Index (ASX: XJO) is out of form again on Friday. In afternoon trade, the benchmark index is down 1.35% to 7,097.7 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is down 4% to $7.91. This is despite there being no news out of the KFC restaurant operator. However, it is worth noting that the company is scheduled to release its results next week. Some investors may be concerned that its results could fall short of expectations and have been selling their shares today.

EBR Systems Inc (ASX: EBR)

The EBR Systems share price is down 6% to 92 cents. This morning, this medical device company announced a $35 million capital raising. The company has firm commitments to raise the funds at a 7.1% discount of 91 cents per share. Proceeds will be used to support EBR's regulatory approval activities and preparation for commercial launch.

Gold Road Resources Ltd (ASX: GOR)

The Gold Road share price is down a further 6% to $1.50. Investors have been selling this gold miner's shares after it downgraded its production guidance for 2023. Management advised that the reliability and utilisation of the production drills and availability of blasting resources have been below expectations. Production is now expected to be between 320,000 and 350,000 ounces (100% basis). This is down from its previous guidance of 340,000 to 370,000 ounces.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 4.5% to $33.74. This follows a sharp decline in oil prices overnight amid concerns that rising interest rates will impact oil demand. It isn't just Woodside that is falling today. The S&P/ASX 200 Energy index is down 4% at the time of writing.

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 Collins Foods. The Motley Fool Australia has recommended Collins Foods. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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