In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. At the time of writing, the benchmark index is down X.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Alliance Aviation Services Ltd (ASX: AQZ)
The Alliance Aviation Services share price is down 39% to $1.55. This follows the release of a trading update after the reinstatement of its shares following a week-long suspension. Alliance revealed that it expects to report a profit before tax of $46 million to $50 million for FY 2026. It also expects its sizeable net debt to reduce to $392 million over the year.
Block Inc (NYSE: XYZ)
The Block Inc share price is down 14% to $97.17. Investors have been selling the payments company's shares following the release of its quarterly update. For the third quarter, Block posted a 2% lift in revenue and an 18% increase in gross profit to US$2.66 billion. The former was short of consensus estimates.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is down a further 4% to $3.26. This counter drone technology company's shares have fallen heavily this week after it announced that almost 44.5 million performance options were vested. This happened after DroneShield achieved its performance hurdle of $200 million cash receipts in a 12-month rolling period. DroneShield's CEO, Oleg Vornik, commented: "Performance Options align the DroneShield team and its investors, enabling DroneShield to attract the best talent and incentivise performance, whilst reducing the cash burden on the Company as it continues to rapidly grow."
Macquarie Group Ltd (ASX: MQG)
The Macquarie share price is down almost 7% to $202.55. Investors have been selling this investment bank's shares after its half year results fell short of expectations. For the six months ended 30 September, Macquarie posted a net profit of $1,655 million. While this was up 3% on the prior corresponding period, it was down a sizeable 21% on the second half of FY 2025. In addition, it fell short of Citi's forecast for a net profit after tax of $1,877 million. Macquarie's managing director and CEO, Shemara Wikramanayake, said: "The improved underlying performance across our operating groups in the first half reflects the ongoing benefits of our diverse business mix and our continued investment in opportunities that support long-term growth and deliver positive outcomes for our clients and communities."
