In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.1% to 7,654.3 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is down 7% to $20.14. This follows the release of the travel agent's half-year results. Flight Centre reported a 15% increase in total transaction value to $11.3 billion and a 565% jump in underlying profit before tax to $106 million. As strong as this was, it was still short of consensus estimates.
Fortescue Ltd (ASX: FMG)
The Fortescue share price is down almost 3.5% to $26.60. This has been driven by the mining giant's shares going ex-dividend this morning for its latest payout. Eligible shareholders can now look forward to being paid its fully franked $1.08 per share dividend next month on 27 March.
Kelsian Group Ltd (ASX: KLS)
The Kelsian share price is down 13% to $5.75. This morning, Kelsian, formerly known as Sealink, released its half-year results. It reported a 44.9% increase in revenue to $982.7 million. However, due to weaker margins, it only achieved a 20.4% lift in underlying net profit after tax and before amortisation (NPATA) to $43.1 million.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren share price is down 13% to $18.73. This has been driven by the release of sales data for its Daybue product. Its partner Acadia Pharmaceuticals (NASDAQ: ACAD) announced fourth quarter Daybue net sales in the United States of US$87.1 million. It also provided 2024 guidance for sales of between US$370 million and US$420 million. This appears to be short of the market's expectations.
