The S&P/ASX 200 Index (ASX: XJO) is on form again on Thursday. In afternoon trade, the benchmark index is up 0.4% to 8,639.3 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Amcor (ASX: AMC)
The Amcor share price is down 1% to $12.98. This has been driven by the packaging company's shares going ex-dividend this morning for its latest payout. Earlier this month, Amcor released its quarterly update and declared a quarterly dividend of 19.8 cents per share. This will be paid to eligible shareholders next month on 17 December.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is down 7% to $2.02. This is despite there being no news out of the counter drone technology company on Thursday. However, it is worth noting that its shares have rallied hard in recent sessions. For example, prior to today, they were up 26% since the end of last week. It seems that some traders have decided to take a bit of profit off the table during Thursday's session.
Harvey Norman Holdings Ltd (ASX: HVN)
The Harvey Norman share price is down 3% to $7.07. This may have been driven by a broker note out of Macquarie this morning. According to the note, the broker has downgraded the retailer's shares to a neutral rating with an improved price target of $7.60 (from $7.40). While relatively pleased with the company's trading update at its annual general meeting, it feels that its shares are fairly valued now. Especially given their re-rating over the past 12 months and its belief that the Reserve bank's interest rate cuts are now over.
QBE Insurance Group Ltd (ASX: QBE)
The QBE Insurance share price is down 4% to $19.01. This follows the release of the insurance giant's third quarter update this morning. Although QBE had a solid quarter and reaffirmed its guidance for FY 2026, it revealed that premium rate increases have softened. Commenting on its outlook, management said: "We are confident in achieving our outlook for the year. In the aggregate, Group claims are expected to track broadly to plan, as we focus on delivering consistent and resilient performance. Following meaningful first half global catastrophe losses, catastrophe experience in the second half has been more benign to date."
