The S&P/ASX 200 Index (ASX: XJO) is starting the week on a positive note. At the time of writing, the benchmark index is up 0.7% to 8,023.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Brambles Ltd (ASX: BXB)
The Brambles share price is down 6% to $19.67. Investors have been selling this logistics solutions company's shares following the release of its third quarter update. Brambles revealed that its sales for the first nine months of FY 2025 are up 3% over the prior corresponding period. However, this is down from 4% growth during the first half, which indicates that sales declined year on year during the third quarter. It said: "3Q25 performance reflected ongoing price realisation and net new business growth, while like-for-like volumes declined due to adverse weather events in the US and macroeconomic uncertainty in all regions." Management also downgraded its sales growth guidance from 4%-6% to 4%-5%.
Bravura Solutions Ltd (ASX: BVS)
The Bravura Solutions share price is down over 12% to $1.95. This morning, this wealth management software provider announced the exit of its CEO. According to the release, Andrew Russell has decided to step down after leading a successful turnaround. He said: "I joined Bravura at a very challenging and critical time requiring difficult decisions to be made and fast action to be taken to restore profitability and restructure the company, whilst at the same time improving engagement with our customers and employees. I am proud to have led Bravura through this period and to see the company achieve such a significant turnaround." Russell leaves with immediate effect but remains available until 30 June.
Pantoro Ltd (ASX: PNR)
The Pantoro share price is down 11.5% to $2.70. This follows the release of the gold miner's quarterly update this morning. Pantoro revealed that its production for the quarter was 18,334 ounces of gold. This was below its guidance range of 20,700 to 25,300 ounces. Management advised that the lower production resulted from the Scotia Underground Mine ramp up crossing over quarters into April 2025.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price is down 6% to $26.90. This morning, this radiopharmaceuticals company revealed that it has received a Complete Response Letter from the US FDA for its New Drug Application (NDA) for TLX101-CDx (Pixclara). It is an investigational agent for the imaging of glioma, a rare and life-threatening brain cancer. Unfortunately, the CRL states that the FDA has completed its review of the application and has ruled that the NDA cannot be approved in its current form.
