The S&P/ASX 200 Index (ASX: XJO) is having a relatively poor session on Wednesday. At the time of writing, the benchmark index is down 0.3% to 8,221.6 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is down over 4% to 22 cents. Investors have been hitting the sell button today after the semiconductor company delivered another poor quarterly update. The $400 million+ company achieved cash receipts of just US$45,000 for the three months. Whereas it spent a total of US$3.4 million to generate these cash receipts. You would get a better return from a savings account.
Cettire Ltd (ASX: CTT)
The Cettire share price is down a further 8% to $1.62. Investors have been selling this online luxury products retailer's shares since the release of a disappointing first quarter update on Tuesday. Although Cettire's sales revenue rose 22% to $155 million, its adjusted EBITDA came in at just $2 million for the three months. This is down a sizeable 77% on the $8.7 million recorded in the prior corresponding period. This morning, Bell Potter downgraded its shares to a speculative hold rating with a $2.00 price target.
Star Entertainment Group Ltd (ASX: SGR)
The Star Entertainment share price is down 11% to 23.5 cents. This follows the release of the casino and resorts operator's quarterly update. For the three months ended 30 September, the company posted an 18% decline in revenue to $351 million and an EBITDA loss of $18 million. Commenting on the quarter, management said: "There continues to be a deterioration in operating performance from a challenging operating environment and the continued implementation of mandatory carded play and cash limits."
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price is down 6% to $30.93. Investors have been hitting the sell button after the supermarket giant's first quarter update disappointed. Woolworths reported a 4.5% increase in group sales over the prior corresponding period to $18 billion. However, it warned that Australian Food EBIT for the first half is forecast to be below its previous expectations. It currently expects "H1 F25 EBIT, including $40 million of incremental supply chain costs, to be within a range of $1,480 million to $1,530 million compared to $1,595 million in H1 F24." The market appears concerned that Woolworths is sacrificing margin to boost its market share.
