In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 8,949.6 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Orora Ltd (ASX: ORA)
The Orora share price is down 20% to $1.57. Investors have been selling this packaging company's shares following the release of a trading update. Partly due to the war in the Middle East, Orora's Saverglass has been underperforming expectations. Orora now expects FY 2026 underlying EBIT for Saverglass to be in the range of 63 million euros to 68 million euros. This is down from its previous guidance of broadly in line with FY 2025 EBIT of 79.2 million euros. It notes that shipping routes and overland access have been disrupted in the Middle East, forcing Orora to transition its facility into a closed-loop hot operation. This means the furnace is kept running, but no bottles are produced.
Select Harvests Ltd (ASX: SHV)
The Select Harvests share price is down 8% to $3.69. This morning, this almond producer revealed the surprise resignation of its CEO, David Surveyor, after three and a half years leading the company. The release notes that Mr Surveyor will remain with the company to work through his six-month notice period and assist with an orderly transition. Surveyor commented: "It has been a privilege to lead Select Harvests over the past three years. I am proud of the transformation we have achieved together. Our people have lifted strategy and execution across the business, from improving our horticultural practices to step changing our processing capability and redefining our approach to market."
Tamboran Resources Corp (ASX: TBN)
The Tamboran Resources share price is down 17.5% to 26 cents. This has been driven by the completion of the institutional component of an equity raising. The natural gas company has raised US$103 million (A$147.1 million) of gross proceeds via a registered underwritten public offer. Tamboran Resources' CEO, Todd Abbott, said: "We are entering what will be the most active two‑year period in the Beetaloo Basin to date, including the delivery of first gas sales in the third quarter of 2026 and the continued delineation of gas resources across our Beetaloo East and Beetaloo West acreage."
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price is down 10% to $38.92. This is despite there being no news out of the logistics solutions software provider on Thursday. However, it is worth noting that the tech sector is a sea of red today, with heavy declines being seen across the board. This has led to the S&P/ASX All Technology index dropping a sizeable 4.5%.
