Why Brickworks, Elders, SG Fleet, and TechnologyOne shares are falling today

These ASX shares are having a tough time on Tuesday. But why?

| More on:
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.

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 having another positive session. In afternoon trade, the benchmark index is up 0.35% to 7,082.8 points.

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

Brickworks Limited (ASX: BKW)

The Brickworks share price is down 3% to $25.44. This follows the release of a trading update at the building products company's annual general meeting. Management said: "Although macroeconomic conditions may cause some short-term challenges across our portfolio, each of our businesses have a strong long-term outlook."

Elders Ltd (ASX: ELD)

The Elders share price is down 3% to $7.13. This has been driven by the agribusiness company's shares going ex-dividend this morning for its final dividend for FY 2023. Eligible shareholders can now look forward to receiving this 23 cents per share dividend on 20 December.

SG Fleet Group Ltd (ASX: SGF)

The SG Fleet share price is down 14% to $2.21. This morning, the fleet management company announced that Ayvens has partially sold down its stake via a placement. It appears that the sale was made at a 13% discount of $2.23 per share. Management advised that all referral and other commercial arrangements between the two parties remain in place and both companies intend to further pursue their ongoing close cooperation.

TechnologyOne Ltd (ASX: TNE)

The TechnologyOne share price is down 3% to $15.90. This follows the release of the enterprise software provider's FY 2023 results. While the result was ahead of guidance and management has brought its medium-term target forward, it seems that the market had already priced this in and maybe more.

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 Brickworks and Technology One. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool Australia has recommended Elders and Technology One. 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 woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.
Share Fallers

Why Mesoblast, Navigator Global, Polynovo, and Skycity shares are falling today

These shares are having a tough finish to the week. Why are investors selling their shares?

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Boss Energy, Core Lithium, Mesoblast, and QBE shares are falling

These ASX shares are falling. But why?

Read more »

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

Why Evolution, Galan Lithium, Life360, and Resolute shares are dropping today

These ASX shares are missing out on the good times today.

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 Capricorn Metals, Core Lithium, Life360, and Mesoblast shares are dropping today

These ASX shares are having a tough time on Tuesday.

Read more »

plummeting gold share price

Own ASX gold shares? Here's why you're having a horrible day

If you own ASX gold shares, you won't be too happy right now.

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 Brainchip, Origin, Sayona Mining, and Stanmore shares are sinking today

These ASX shares are starting the week in the red.

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Core Lithium, Harvey Norman, TechnologyOne, and Tyro shares are dropping

These ASX shares are ending the week in the red.

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 Cettire, Lake Resources, Origin Energy, and Wildcat shares are sinking

These ASX shares are under pressure today. But why are investors hitting the sell button?

Read more »