Why ANZ, Brainchip, Light & Wonder, and Pilbara Minerals shares are falling today

These shares are tumbling on Thursday. But why?

| More on:
A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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:

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.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Light & Wonder and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Light & Wonder. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Guzman Y Gomez, Inghams, Monash IVF, and Skycity shares are sinking today

These shares are ending the week deep in the red. What's happening?

Read more »

An egg with an unhappy face drawn on it lying on a bed of straw.
Earnings Results

Why did the Inghams share price just crash 22%?

ASX investors just sent the Inghams share price tumbling 22%. But why?

Read more »

A woman looks shocked as she drinks a coffee while reading the paper.
Earnings Results

This $1 billion ASX 300 stock just crashed 15%. Here's why

The ASX 300 retail company is under heavy selling pressure on Friday. But why?

Read more »

A man with his back to the camera holds his hands to his head as he looks to a jagged red line trending sharply downward representing the ASX tech share sell-off today
Earnings Results

Why did this high-yielding ASX 200 dividend share just crash 22%?

The ASX 200 dividend share has come under heavy selling pressure. But why?

Read more »

Shot of a young businesswoman looking stressed out while working in an office.
Share Fallers

Why Goodman, Healius, IPH, and Sonic Healthcare shares are falling today

These shares are having a tough session on Thursday. But why?

Read more »

A man sits at a desk holding a small replica house in his hand, upset at the sale of his property.
Broker Notes

Down 38% in 2 days, here's Macquarie's 12-month forecast for James Hardie shares

Macquarie delivers its verdict on James Hardie shares following this week’s brutal sell-down.

Read more »

woman crying while eating ice cream
Share Fallers

3 ASX heavyweights stumble on earnings results

Three household names on the ASX have taken a hit following their latest results.

Read more »

A worried woman sits at her computer with her hands clutched at the bottom of her face.
Share Fallers

Why this $8 billion ASX 200 energy stock just crashed 10%

Investors are punishing the ASX 200 energy share today. But why?

Read more »