The S&P/ASX 200 Index (ASX: XJO) is having a subdued start to the week. In afternoon trade, the benchmark index is down 0.2% to 8,713.9 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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DroneShield Ltd (ASX: DRO)
The DroneShield share price is down 10.5% to $3.03. This is despite there being no news out of the counter-drone technology company on Monday. However, it is worth noting that there is optimism that the US and Iran will soon sign a peace deal. This could mean that investors are fearing that demand for DroneShield's products will soften.
Lendlease Group (ASX: LLC)
The Lendlease share price is down over 3% to $2.63. Investors have been selling the property developer's shares following the announcement of a divestment. The company has agreed a $250 million sale agreement for its MSG North development rights. However, this deal is expected to result in a $175 million post‑tax loss. Management notes that the transaction is part of Lendlease's ongoing capital recycling program, which is intended to release value tied up in long-dated and complex projects. Lendlease's CEO, Tony Lombardo, said: "The sale of the commercially challenged MSG North project is consistent with our strategy to reduce long-dated international development capital and simplify the Group."
Playside Studios Ltd (ASX: PLY)
The Playside Studios share price is down 30% to 16.5 cents. This has been driven by news that tech giant Meta Platforms (NASDAQ: META) is terminating its agreement for outsourced development contracts on the Horizon Worlds social platform. Management anticipates the revenue impact from the loss of this work will be approximately A$4 million in FY 2027. It said: "This is a counterparty decision and is not a reflection of the work PlaySide employees have delivered on an engagement that has consistently grown in value and scope since initial work began with Facebook in 2021. However, the loss of this work is a setback to the Company's External Projects pipeline, and rebuilding that pipeline is (and has been) the immediate priority. Over the past six months we have built out the Company's Business Development function from one person to four, significantly expanding the Company's reach with international clients, and that team is focused on the work ahead."
ResMed Inc (ASX: RMD)
The ResMed share price is down 7% to $26.63. This follows a sharp decline by the sleep treatment company's NYSE-listed shares on Friday night. There does not appear to have been any obvious company-specific catalyst for the weakness on Wall Street.
