In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 8,816.3 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Clarity Pharmaceuticals Ltd (ASX: CU6)
The Clarity Pharmaceuticals share price is down 10% to $3.93. This may have been driven by concerns over the release of updates from other radiopharmaceuticals companies which warned of increased pricing pressures in the PSMA imaging market.
GQG Partners Inc (ASX: GQG)
The GQG Partners share price is down 14% to $1.73. This follows the release of the fund manager's latest funds under management (FUM) update, which revealed a sizeable monthly outflow. This is being driven by the company's peculiar decision to avoid in form areas of the market because of valuation concerns and fears a pullback could cause an underperformance. But with its funds underperforming because of this decision and management warning that this could lead to greater fund outflows, the market is unsurprisingly hitting the sell button today.
Light & Wonder Inc. (ASX: LNW)
The Light & Wonder share price is down 9% to $121.35. This follows a selloff of the gaming technology company's Nasdaq listed shares overnight. It seems that some investors were disappointed with the company's second quarter update. And while Bell Potter wasn't overly impressed, it remains bullish and has retained its buy rating with a trimmed price target of $178.00 (from $194.00). It said: "We put the disappointing 2Q25 AEBITDA guidance downgrade down to tariff related issues and note that macroeconomic risks remain. We point to robust install base growth in 2Q25 and strong game performance as evidence that the thesis of market share gains in the lucrative premium leased segment remains intact. We see the November 2025 ASX sole listing plan as a key catalyst for a re-rate in the stock but note execution risks exist."
QBE Insurance Group Ltd (ASX: QBE)
The QBE Insurance share price is down almost 7% to $21.85. Investors have been selling this insurance giant's shares following the release of its half year results. QBE reported gross written premiums (GWP) of US$13.82 billion and a net profit after tax of US$802 million. Bell Potter was looking for GWP US$13,707 million and net profit after tax of US$838 million. Its interim dividend of 31 cents per share was also well short of the broker's estimate of 39.6 cents per share.
