The S&P/ASX 200 Index (ASX: XJO) is having a decent session on Tuesday. In afternoon trade, the benchmark index is up 0.4% to 8,326.8 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Kogan.com Ltd (ASX: KGN)
The Kogan share price is down 8% to $4.15. Investors have been selling this ecommerce company's shares following the release of another disappointing trading update. For the first four months of the second half of FY 2025, Kogan posted a 0.7% decline in revenue, a 37.5% decline in adjusted EBITDA to $6.8 million, and a 63.7% decline in adjusted EBIT to $2.5 million. Following today's decline, Kogan's shares are now down 32% since the start of the year.
Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price is down 11.5% to 75.2 cents. This morning, this fertility treatment company downgraded its guidance for FY 2025. It now expects its underlying net profit after tax to be approximately $27.5 million for the year. This is down from its previous guidance range of $30 million to $31 million. Management said: "The revised guidance reflects the Company's assessment of softer market and operating conditions in March 2025 that worsened in April 2025 across all of the Company's geographic markets."
OFX Group Ltd (ASX: OFX)
The OFX share price is down over 30% to 91 cents. This money transfer and foreign exchange provider's shares have been hammered following the release of its full year results this morning. OFX Group posted a 0.9% decline in turnover to $38.1 billion, a 3.4% reduction in revenue to $221.9 million, and an 18.2% fall in underlying net profit to $27.7 million. It also warned: "In light of the global economic uncertainty, OFX Group is not providing NOI guidance for FY26."
ResMed Inc. (ASX: RMD)
The ResMed share price is down 4% to $37.36. This appears to have been driven by news that Apnimed's oral pill for obstructive sleep apnoea (OSA), AD109, has met its primary endpoint in a phase III trial. Apnimed's CEO, Larry Miller, said: "The positive results from our Phase 3 SynAIRgy trial bring us closer to realizing our vision of offering a simple, safe, and effective oral drug — one that is grounded in science, driven by unmet need, and centered on people with OSA."
