In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to post a small decline. At the time of writing, the benchmark index is down 0.3% to 8,486.5 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
CAR Group Limited (ASX: CAR)
The CAR Group share price is down 7% to $38.09. This follows the release of the auto listings company's half year results. The carsales.com.au owner posted a 12% increase in pro forma revenue to $548 million and a 12% lift in pro forma earnings before interest, taxes, depreciation and amortisation (EBITDA) to $302 million. The latter was short of consensus estimates for the half. No real guidance was given for the full year. Management just said: "We expect to deliver good growth in Proforma Revenue, Proforma EBITDA and Adjusted NPAT on a constant currency basis in FY25."
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's Pizza Enterprises share price is down 2% to $35.18. This appears to have been driven by profit taking from some investors following a huge gain on Friday. That gain was driven by an upbeat update and news of mass store closures in Japan to improve profitability. It also seems likely that short squeeze took place given the high short interest in the pizza chain operator's shares.
JB Hi-Fi Ltd (ASX: JBH)
The JB Hi-Fi share price is down 2% to $100.19. This retail giant's shares surged higher in early trade and hit a record high before giving back those gains and more. Although JB Hi-Fi released its half year results today and delivered stronger than expected sales and profit growth, management's outlook commentary may have spooked some investors. CEO Terry Smart said: "Whilst we are pleased to see sales momentum continue into January, we remain cautious given the uncertainty in the retail market and the continued competitive activity. We will continue to adapt and innovate to ensure we remain top of mind as the destination for our categories."
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price is down 4% to $124.61. This morning, the logistics solutions company revealed that it has received two confidential complaints, from an employee and a supplier, making allegations in relation to its founder and founding CEO, Richard White. No details have been provided but it is business as usual at this point for the company and Mr White.
