Why Ansell, Aurizon, Metcash, and Syrah shares are sinking today

These ASX shares are having a tough time on Tuesday.

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The S&P/ASX 200 Index (ASX: XJO) is out of form on Tuesday. In afternoon trade, the benchmark index is down 0.25% to 7,280.2 points.

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

Ansell Limited (ASX: ANN)

The Ansell share price is down almost 14% to $23.98. This follows the release of the health and safety products company's guidance for this year and next. While Ansell is on track to achieve its guidance in FY 2023, it is predicting a sizeable decline in its earnings next year.

Aurizon Holdings Ltd (ASX: AZJ)

The Aurizon share price is down 5% to $3.80. This morning, this rail freight operator released its investor day update and also provided guidance for this year and next. For FY 2023, Aurizon expects underlying EBITDA at the low end of its guidance range of $1,420 million to $1,470 million. Looking ahead, it is expecting underlying EBITDA of $1,590 million to $1,680 million in FY 2024.

Metcash Limited (ASX: MTS)

The Metcash share price is down 3.5% to $3.62. This has been driven by the wholesale distributor's shares going ex-dividend this morning. Last month, Metcash released its full-year results and declared an 11 cents per share fully franked final dividend. This will be paid to eligible shareholders next month on 21 August.

Syrah Resources Ltd (ASX: SYR)

The Syrah Resources share price is down 18% to 72.7 cents. This follows the release of the graphite producer's quarterly update. Syrah cut back its production materially during the quarter due to oversupply and low prices. Unfortunately, it doesn't look like conditions are going to change in a hurry.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell, Aurizon, and Metcash. 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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