The S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. In afternoon trade, the benchmark index is up a fraction to 7,658.6 points.
Four ASX shares that are acting as a drag on the market today are listed below. Here's why they are falling:
Lendlease Group (ASX: LLC)
The Lendlease share price is down 17% to $6.22. Investors have been selling the international property and infrastructure company's shares after it released its half-year results. Lendlease reported a disappointing statutory loss after tax of $136 million. The company's earnings were impacted by a reduction in investment property valuations, redundancy costs, and an additional provision in relation to UK building remediation regulations.
New Hope Corporation Ltd (ASX: NHC)
The New Hope share price is down 6% to $4.75. This morning, this coal miner released a second-quarter update and reported underlying EBITDA of A$179.9 million. This is down 26.5% over the prior corresponding period due primarily to lower realised pricing. This brought its half-year underlying EBITDA to $424.8 million, which is down 59.1% year on year.
Nuix Ltd (ASX: NXL)
The Nuix share price is down 11% to $1.73. This investigative analytics and intelligence software provider's shares are falling following the release of its half-year results. Nuix reported a statutory loss after tax of $4.8 million, which is down from a $1.3 million profit a year earlier. Legal costs were largely to blame.
Orora Ltd (ASX: ORA)
The Orora share price is down 6.5% to $2.71. Investors have been selling this packaging company's shares following the release of its half-year update. Orora posted a 5.5% decline in revenue to $2,139.1 million but a 0.5% lift in underlying net profit after tax to $108.6 million. The latter was short of the market's expectations.
