The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Thursday. In afternoon trade, the benchmark index is up 1.1% to 8,539.7 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
DroneShield Ltd (ASX: DRO)
The DroneShield share price is down a further 4% to $1.90. This morning, the counter drone technology company responded to an ASX Aware Letter. The company was asked to explain recent share sales and the accidental release of announcement. With respect to the latter, DroneShield revealed that it is working on implementing new ERP and CRM platforms, due to go live in early 2026, to strengthen operational controls and reporting quality.
GQG Partners Inc (ASX: GQG)
The GQG Partners share price is down over 4% to $1.55. Investors have been selling this fund manager's shares despite there being no news out of it today. However, it is worth noting that GQG Partners has been avoiding certain areas of the market due to concerns over an AI bubble. So, with Nvidia (NASDAQ: NVDA) delivering a stronger than expected update this morning, the market may believe that GQG Partners' underperformance will continue in the near term.
Origin Energy Ltd (ASX: ORG)
The Origin Energy share price is down almost 3% to $11.47. This may have been driven by improving investor sentiment, which has led to investors flooding back into higher risk areas of the market like the tech sector. Given that Origin Energy is seen as a safe haven option by many investors, they could be rotating out of it during today's session.
Worley Ltd (ASX: WOR)
The Worley share price is down 4% to $13.11. This follows the release of the engineering services company's annual general meeting update this morning. While management has reaffirmed its guidance for FY 2026, it warned that it would be weighted more than normal to the second half of the year. Its CEO, Chris Ashton, said: "For this financial year, we expect earnings to be weighted more heavily to the second half. We typically experience seasonality in our revenue and earnings profile, but in FY2026 this weighting to the second half for earnings is expected to be more pronounced than in prior years. This reflects the impact of non-material project cancellations, but primarily the significant work that we're doing to re-position capability in areas of higher demand, transform the way we work and to reset our cost base."
