The S&P/ASX 200 Index (ASX: XJO) has had a subdued start to the week. In afternoon trade, the benchmark index is down 0.25% to 8,764.8 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Cochlear Ltd (ASX: COH)
The Cochlear share price is down 2.5% to $94.92. This hearing solutions company's shares have been sold off recently following the release of a disappointing trading update. Cochlear downgraded its FY 2026 underlying net profit guidance range to $290 million to $330 million. Previously it was guiding to underlying net profit of $435 million to $460 million. Management advised that softer trading in developed markets is being driven by hospital capacity constraints and a decline in referrals from the hearing aid channel.
Karoon Energy Ltd (ASX: KAR)
The Karoon Energy share price is down 2.5% to $2.18. This is despite there being no news out of the energy producer. However, as we covered here, Karoon Energy shares were named as a sell this morning by Medallion Financial Group. It said: "In our view, Karoon has benefited from increasing crude oil prices since the conflict in the Middle East started on February 28. We believe these sorts of opportunities should be taken and we have locked in profits on Karoon."
Origin Energy Ltd (ASX: ORG)
The Origin Energy share price is down 2.5% to $12.46. This morning, this energy giant released its quarterly report. Origin revealed that March quarter production was lower compared to the prior quarter. This was primarily reflecting two fewer days in the quarter and natural field decline. It also advised that Integrated Gas revenue was down $247 million compared to the prior quarter at $1,855 million. This reflects lower realised LNG prices. Origin Energy's CEO, Frank Calabria, said: "Global commodity markets have experienced significant volatility this quarter, with the conflict in the Middle East affecting oil and LNG supply. Changes in oil prices have a lagged effect on Australia Pacific LNG's long term export contracts, and we do not expect this to flow through to results until FY27."
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price is down 3% to $43.09. Investors have been selling this logistics solutions technology company's shares despite there being no news out of it. However, this may have been driven by broad weakness in the tech sector. This has seen the S&P/ASX All Technology Index drop 0.7% on Monday.
