The S&P/ASX 200 Index (ASX: XJO) is having a bad session on Wednesday following the release of inflation data. At the time of writing, the benchmark index is down 1% to 8,758.7 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Amplitude Energy Ltd (ASX: AEL)
The Amplitude Energy share price is down 11% to 24 cents. Investors have been selling this energy company's shares after it raised $150 million via fully underwritten equity raising. These funds were raised at 24 cents per new share, which represents an 11.1% discount to its last close price. Amplitude Energy's managing director and CEO, Jane Norman, said: "I am very pleased with the strong support received from our existing institutional shareholders and would like to take this opportunity to welcome our new shareholders to the register. This equity raising puts us in a position to leverage our existing infrastructure and accelerate growth via the addition of the Nestor prospect to the East Coast Supply Project, alongside other accretive opportunities, primarily the restart of Patricia Baleen. These are exciting opportunities to supply lower cost domestic gas to the southeastern states where it is needed the most."
James Hardie Industries plc (ASX: JHX)
The James Hardie share price is down 5% to $28.13. This may have been driven by a broker note out of Citi this morning following the building products company's annual general meeting. Although its analysts have retained their neutral rating and $33.00 price target on the company's shares, they have warned that they suspect that James Hardie's outlook is weaker than consensus estimates indicate.
Myer Holdings Ltd (ASX: MYR)
The Myer share price is down a further 1% to 47.5 cents. This retailer's shares have come under pressure this week following the release of its FY 2025 results. Myer reported a 0.5% increase in sales and a 13.8% decline in EBIT for FY 2025. This was despite a six-month contribution from the Apparel Brands business (Just Jeans, Dotti, and others). Management notes that its profit decline reflects the inclusion of Apparel Brands being more than "offset by challenged retail conditions which impacted profitability and increased costs of doing business which affected both businesses." The Myer board elected not to pay a final dividend in FY 2025.
Tuas Ltd (ASX: TUA)
The Tuas share price is down 1% to $7.28. This is despite the Singapore based telco releasing its full year results and reporting strong revenue and profit growth. Revenue was up 29% to $151.3 million and EBITDA was up 28% to $68.4 million. Investors may be disappointed with its vague outlook statement, which only revealed that "subscriber growth trends continue" and mobile and broadband CAPEX guidance of $50 million to $55 million.
