In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 7,644.8 points.
Four ASX share that have failed to follow the market's lead are listed below. Here's why they are falling:
AGL Energy Limited (ASX: AGL)
The AGL Energy share price is down over 2% to $8.60. This may have been driven by profit taking after a strong gain on Thursday following its half year results release. In addition, this morning, Macquarie responded by retaining its neutral rating on AGL's shares with a price target of $9.60.
Alliance Aviation Services Ltd (ASX: AQZ)
The Alliance Aviation share price is down a further 5% to $3.01. Investors have been selling this aviation services company's shares after its half year results revealed an increase in its net debt to $244.6 million. This comes at a time when the company is planning to spend big on capital expenditures.
Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is down 12% to $5.25. Investors have been selling ASX uranium shares today following the release of an update from one of the world's largest uranium miners, Cameco Corp (NYSE: CCJ). It revealed plans to increase its uranium production materially to take advantage of strong demand and weak supply. This may have sparked fears that uranium prices could pull back.
Silver Lake Resources Ltd (ASX: SLR)
The Silver Lake share price is down almost 3% to $1.09. This gold miner's shares have come under pressure this week after announcing plans to merge with Red 5 Ltd (ASX: RED). It seems that some investors are not overly keen on the plan and aren't sticking around to see how it turns out.
