The S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain on Friday. In afternoon trade, the benchmark index is up 0.1% to 7,154.3 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Centuria Capital Group (ASX: CNI)
The Centuria Capital share price is down over 6% to $1.42. This follows the release of the property company's FY 2023 results. Centuria Capital reported a modest increase in operating profit after tax to $115.6 million or 14.5 cents per share. This was in line with guidance. However, looking ahead, it is now guiding to a decline in operating earnings per share from 11.5 cents to 12 cents in FY 2024.
Domain Holdings Australia Ltd (ASX: DHG)
The Domain share price is down a further 6.5% to $3.51. Investors have been selling this property listings company's shares since the release of its full-year results. In addition, this morning, analysts at Ord Minnett put a lighten rating and $2.50 price target on its shares. This suggests a major downside from current levels.
Imugene Limited (ASX: IMU)
The Imugene share price is down 15% to 8 cents. This has been driven by news that the immuno-oncology company has received firm commitments from institutional and sophisticated investors for a $35 million placement at 8.4 cents per new share. The company will now seek to raise $30 million via a share purchase plan.
Telstra Group Ltd (ASX: TLS)
The Telstra share price is down almost 3% to $4.01. This morning, analysts at Morgans downgraded the telco giant's shares to a hold rating with a reduced price target of $4.20. Its analysts appear disappointed with the company's decision to retain its InfraCo business instead of unlocking value with its divestment.
