In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and in the red. At the time of writing, the benchmark index is down 0.4% to 8,773.8 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Judo Capital Holdings Ltd (ASX: JDO)
The Judo Capital share price is down 40% to 92.5 cents. Investors have been selling the small business lender's shares after it increased its cost of risk and downgraded its earnings guidance. Judo Capital now expects its FY 2026 cost of risk to be in the range of $116 million to $122 million. This has been driven by three exposures across different sectors that have recently emerged. As a result, Judo Capital now expects its profit before tax in FY 2026 to be between $163 million and $169 million. This is down meaningfully from its previous guidance of between $180 million and $190 million. The company's CEO, Chris Bayliss, said: "While today's update is partly a result of the macro environment, it is nevertheless disappointing."
Minerals 260 Ltd (ASX: MI6)
The Minerals 260 share price is down almost 12% to 83.5 cents. The gold industry is a sea of red on Thursday following another pullback in the gold price. This has seen the S&P/ASX All Ords Gold Index drop 5% today. In other news, this morning, Minerals 260 released results from the ongoing drilling program at its 100% owned 4.5Moz Bullabulling Gold Project. It is possible that some investors were expecting stronger results than those that were released.
Santos Ltd (ASX: STO)
The Santos share price is down 3% to $7.03. Investors have been selling energy shares today following another pullback in oil prices overnight. Traders were selling oil after tankers continued to pass through the Strait of Hormuz. The S&P/ASX 200 Energy Index is down 2.5% this afternoon.
Worley Ltd (ASX: WOR)
The Worley share price is down almost 9% to $11.20. This morning, this professional services company revealed that the Middle East conflict has continued to impact its earnings. Worley now estimates the impact to FY 2026 underlying EBITA to be up to $60 million. This is up materially from its previous estimate of $30 million to $40 million. It explains: "The extended duration and ongoing impact of the Middle East conflict continues to cause disruption to the progress of existing projects. While there have been no project cancellations, customers continue to delay the commencement and award of new projects."
