In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.6% to 8,592.7 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
CSL Ltd (ASX: CSL)
The CSL share price is down almost 2% to $239.82. This may have been driven by concerns over US President Donald Trump's plan to impose 200% tariffs on imported pharmaceuticals next year. A number of other ASX pharma stocks are under pressure today and dropping into the red.
Imricor Medical Systems Inc (ASX: IMR)
The Imricor Medical Systems share price is down 18% to $1.27. This is despite the medical technology company revealing that it has now received regulatory approval for its 3D MRI mapping system NorthStar in Europe. Commenting on the news, the company's chair and CEO, Steve Wedan, said: "We continue to march towards commercialising Imricor's groundbreaking technology across the globe. In Europe the regulatory approvals are now in place, the commercial launch is fully underway, and the sales team are growing and progressing the pipeline." The company also advised that it has "submitted an updated PMA schedule, called a "PMA Shell," to the FDA, targeting final clinical trial data submission to the FDA following submission of the 3rd PMA module in 1H 2026."
Jumbo Interactive Ltd (ASX: JIN)
The Jumbo Interactive share price is down over 3% to $10.06. This appears to have been driven by a broker note out of Citi this morning. According to the note, the broker has downgraded the online lottery ticket seller's shares to a neutral rating (from buy) with a reduced price target of $11.30 (from $14.60). Citi made the move on the belief that weak lottery jackpots could be weighing on its performance.
Netwealth Group Ltd (ASX: NWL)
The Netwealth share price is down 1% to $34.60. Investors have been selling this investment platform provider's shares following the release of a trading update. Netwealth reported total funds under administration (FUA) of $112.8 billion at 30 June 2025. This represents an increase of $8.7 billion for the quarter, including $3.8 billion of FUA net flows and $4.9 billion of positive market movements. While this looks strong on paper, it was notably lower than the market was expecting for the three months.
