In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 8,929.4 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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Audinate Group Ltd (ASX: AD8)
The Audinate share price is down 8% to $3.37. This follows the release of the audio-visual networking solutions provider's half-year results. Audinate posted a 12% increase in revenue to US$21.1 million and a 12% lift in gross profit to US$17.4 million. Looking ahead, management is guiding to US-dollar gross profit growth of 13% to 15% over FY 2025. This is expected to be underpinned by strong forward orders secured in the first half. It seems the market was expecting stronger growth than this.
Australian Clinical Labs Ltd (ASX: ACL)
The Australian Clinical Labs share price is down 11% to $2.16. This pathology services provider's shares are under pressure today after it announced the exit of its CEO, Melinda McGrath. The company revealed that McGrath will not be renewing her contract following its conclusion on 30 August 2026. She said: "I would like to take this opportunity to thank our pathologists and scientists for their leadership, and the broader Clinical Labs team for their passionate commitment to the service of our patients and referring medical practitioners. In particular, I would like to recognise the Clinical Labs executive and broader leadership teams, whose drive and innovative approach to the development of the business has been outstanding."
Coronado Global Resources Inc (ASX: CRN)
The Coronado Global share price is down 4.5% to 32.5 cents. This morning, this coal miner released a business update which revealed that sustained weakness in the U.S. High-Vol markets has caused realised pricing at its US-based Logan operation to remain below cash operating costs. As a result, the complex is now operating at a loss. In response, management said: "The Company is taking steps to preserve liquidity and protect shareholder value. Production is being immediately curtailed to cover contractual commitments carried over from 2025, which are expected to be fulfilled by March 2026."
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price is down 5% to $4.97. Investors have been selling this wine giant's shares following the release of its half-year results. As many had expected, the Penfolds owner has decided to suspend dividends while it battles through a challenging period. The company's CEO, Sam Fischer, said: "Today's results come at a time when we are already making meaningful progress with the decisive actions required to return TWE to a path of sustainable, profitable growth. Our focus is firmly on the future to strengthen execution and ensure we build a stronger, more resilient business for the long term."
