The S&P/ASX 200 Index (ASX: XJO) is on course to start the year with a small gain. In afternoon trade, the benchmark index is up 0.15% to 8,726.4 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Capstone Copper Corp (ASX: CSC)
The Capstone Copper share price is down 3.5% to $14.64. Investors have been selling this copper miner's shares following the release of an update. This morning, Capstone Copper revealed that a union at the Mantoverde mine in Chile, representing approximately 50% of site employees, will take strike action from today. As a result, certain activities at the mine will be gradually reduced in a safe manner. The company stated: "Capstone Copper remains willing to participate in meetings to reach a resolution, and will continue to adhere to legal procedures, respecting the rights of all its employees, inviting the union to engage in a constructive dialogue, and providing the authorities with all requested information."
Life360 Inc (ASX: 360)
The Life360 share price is down 3% to $32.48. This follows a pullback in the location technology company's NASDAQ listed shares after broad weakness in the tech sector on New Year's Eve. While this is disappointing, Life360 shares are still up over 40% since this time 12 months ago.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is down 10% to $24.09. Investors have been selling this gold miner's shares following a production downgrade. Due to a softer than expected operational performance, the company has revised its annual production guidance to between 1.6 million ounces and 1.7 million ounces. This is from its previous guidance of between 1.7 million ounces and 1.85 million ounces. In addition, the company advised that its lower gold sales are expected to impact its cost performance. It plans to provide its December quarter costs and revised annual cost guidance with its quarterly results later this month.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price is down 2% to $4.95. This is likely to have been driven by profit taking after a very strong gain in December. Investors were buying the semiconductor company's shares after it revealed that it signed a licensing agreement for its ReRAM technology with Texas Instruments (NASDAQ:TXN). Weebit Nano also released revenue guidance for FY 2026, revealing that it expects revenue of at least $10 million.
