The S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain on Wednesday. In afternoon trade, the benchmark index is up 0.9% to 8,418.7 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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James Hardie Industries plc (ASX: JHX)
The James Hardie share price is down 7% to $35.79. This follows the release of the building materials company's quarterly update. James Hardie posted a 1% decline in net sales to US$3,877.5 million and a 17% drop in net profit to US$424 million. While this meant that it still achieved its full year guidance, its outlook commentary for FY 2026 may have disappointed. Management warned: "More recent, broader macroeconomic uncertainty could further impact the cost of home construction and weigh on consumer sentiment, influencing demand."
Mayne Pharma Group Ltd (ASX: MYX)
The Mayne Pharma share price is down 30% to $4.52. Investors have been selling this pharmaceutical company's shares amid concerns that its takeover deal could collapse. This follows the receipt of a notice from its suitor, Cosette Pharmaceuticals, over the weekend alleging that a "Material Adverse Change" had occurred. This potentially gives Cosette the right to walk away from the $672 million deal. Cosette cited a combination of issues — including Mayne's recent earnings update, ongoing litigation with TXMD, and an FDA letter — as the basis for its claim.
Nufarm Ltd (ASX: NUF)
The Nufarm share price is down over 28% to $2.88. This has been driven by the release of the crop protection company's half year results this morning. Nufarm reported a 3% lift in revenue to $1,811 million but a 39% decline in statutory net profit after tax to $29.8 million. This was driven by its Seed Technologies business, which reported revenue of $249 million and underlying EBIT of $15.9 million. The latter was down 71% decline on the prior corresponding period due to lower licensing revenues, lower margins in omega-3, and lower canola revenues in Australia.
Resimac Group Ltd (ASX: RMC)
The Resimac share price is down 4% to 81.7 cents. This follows news that ASIC has commenced civil penalty proceedings against the non-bank lender. Resimac revealed that the regulator is alleging contraventions in relation to hardship notices under the National Consumer Credit Protection Act. The company responded: "Resimac acknowledges that its previous practices regarding hardship notices provided by customers could have been better and apologises that this has occurred. Since becoming aware of the issue, Resimac has enhanced its processes to give greater support to customers facing financial difficulties."
