Why Core Lithium, Domain, Nuix, and Telstra shares are dropping today

These ASX shares are falling on Thursday. But why?

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The S&P/ASX 200 Index (ASX: XJO) is out of form again on Thursday. In afternoon trade, the benchmark index is down 0.9% to 7,129.7 points.

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

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 24% to 41.5 cents. This has been driven by news that the lithium miner is raising $120 million at a significant discount of 40 cents per new share. In addition, the company revealed that it has received a notification from Tesla of a potential legal claim relating to a binding term sheet entered between the parties.

Domain Holdings Australia Ltd (ASX: DHG)

The Domain share price is down 7% to $3.78. This morning, this property listings company released its FY 2023 results and revealed a 0.5% decline in revenue to $345.7 million and a 28.2% decline in net profit to $38.6 million.

Nuix Ltd (ASX: NXL)

The Nuix share price is down 12.5% to $1.39. Investors have been selling this software company's shares following the release of its FY 2023 results. Nuix reported a 14.5% increase in annualised contract value (ACV) to $185.5 million and a loss after tax of $5.6 million. Management is guiding to ~10% ACV growth in FY 2024.

Telstra Group Ltd (ASX: TLS)

The Telstra share price is down over 2% to $4.16. Although Telstra released a strong full-year result this morning, its guidance for the year ahead was a bit softer than expected. Goldman Sachs said: "Mid-point of FY24 guidance marginally below GSe/consensus, with capex also higher on international investments." In addition, the company revealed that it will keep its InfraCo fixed business for the time being. This divestment was seen as a good way to unlock value for shareholders.

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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra Group. 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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