In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. At the time of writing, the benchmark index is up 0.8% to 9,088.5 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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AMP Ltd (ASX: AMP)
The AMP share price is down 30% to $1.21. Investors have been selling this financial services company's shares following the release of its full-year results. For the 12 months ended 31 December, AMP posted a 20.8% increase in underlying net profit after tax to $285 million. However, statutory profit was down 11.3% to $133 million. Outgoing CEO, Alexis George, commented: "2025 was an important year for AMP with resolution of legacy items and stabilisation of the portfolio. This enabled renewed focus on winning in the segments we play, growing the wealth businesses, and building on the vision to be the place that customers come to plan for a dignified retirement."
CSL Ltd (ASX: CSL)
The CSL share price is down a further 6.5% to $152.97. This biotech giant's shares have been under pressure since the release of its results and the announcement of a change of CEO. This morning, the team at Bell Potter responded by retaining its hold rating on CSL's shares with a trimmed price target of $175.00. It said: "We maintain our HOLD recommendation. CSL now trades on an underlying PE of 16.5x in FY27, well below its historical average but remains above the global biopharma avg of ~15x. It faces the daunting prospect of hiring a new CEO to re-invigorate a lacklustre growth outlook in the face of headwinds on multiple fronts."
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is down 20% to $134.96. This follows the release of the health imaging technology company's half-year results. Pro Medicus reported a 28.4% increase in revenue to $124.8 million and a 29.7% lift in underlying profit before tax to a record of $90.7 million. This appears to have been softer than some were expecting. Pro Medicus' CEO, Dr Sam Hupert, said: "Our profits continue to grow strongly even though our biggest implementation during the period in Trinity Cohort 1 went live towards the end of October so had limited impact on the half."
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is down 28% to $8.20. Investors have been selling the online furniture retailer's shares after its half-year results disappointed. The company reported a 19.8% increase in revenue to $375.9 million and a more modest 13% lift in EBITDA to $14.9 million. Management has reaffirmed its FY 2026 EBITDA margin guidance of 3% to 5%.
