The S&P/ASX 200 Index (ASX: XJO) is having a mildly positive session on Thursday. In afternoon trade, the benchmark index is up slightly to 8,180.7 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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ANZ Group Holdings Ltd (ASX: ANZ)
The ANZ share price is down 2.5% to $29.19. Investors have been selling the big four bank's shares following the release of its half year results. Compared to the second half of FY 2024, ANZ reported a 5% increase in half year revenue to $10,995 million and a 12% lift in cash profit to $3,568 million. The latter was a touch short of the $3,596 million that Macquarie Group Ltd (ASX: MQG) was forecasting for the half.
Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is down over 2% to 22 cents. This semiconductor company's shares have been sold off since the release of another underwhelming quarterly update. Investors appear to have been disappointed that the company still appears some way off pulling in meaningful revenue (if it ever does). This is likely to mean more shareholder dilution through the issue of shares to keep the lights on. In other news, the company's remuneration report was voted down by shareholders for a third year in a row at this week's annual general meeting.
Light & Wonder Inc. (ASX: LNW)
The Light & Wonder share price is down 5% to $138.31. Investors have been selling this gaming technology company's shares following the release of its first quarter update. Light & Wonder revealed that total revenue was up 2.8% to US$774 million for the quarter. This fell short of the consensus estimate of US$805 million. One positive, though, is that management reaffirmed its guidance for the year. It has confirmed that it is targeting consolidated AEBITDA of US$1.4 billion for FY 2025.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is down almost 6% to $1.45. This is despite there being no news out of the lithium miner on Thursday. However, it is worth noting that a large number of lithium shares are falling heavily today. There has been some industry news, though. That news is a Bill Gates and Jeff Bezos-backed startup has signed a deal to buy AVZ Mineral's stake in the Manono lithium deposit. This deposit is one of the largest in the world and would be a significant boost to supply if fully developed.
