Why Beach, Flight Centre, Tyro, and Whitehaven Coal are dropping

These ASX shares are in the red on Wednesday…

| More on:
share price plummeting down

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.75% to 7,429.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are sinking:

Beach Energy Ltd (ASX: BPT)

The Beach share price is down 5% to $1.42. This follows the release of a disappointing first quarter update from the energy producer this morning. According to the release, Beach's first quarter production was down 4% on the prior quarter to 5.7MMboe. This was driven largely by natural Western Flank oil decline. Also disappointing the market was Beach reporting an 8% decline in sales revenue to $388 million despite rising oil prices.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price has fallen 5% to $21.61. This follows the release of a trading update at its annual general meeting. According to the release, Flight Centre's sales reached 27% of pre-COVID levels globally during September. This is still not at a level that makes its operations breakeven, leading to a monthly net operating cash outflow of $41 million. In response, Goldman Sachs commented: "Overall, while the outlook remains positive and corporate progress is encouraging, the update remained lacklustre on leisure."

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is down 2.5% to $3.94. This morning the payments company revealed that class action proceedings have been filed in the Federal Court of Australia. These proceedings allege, among other things, misleading and deceptive conduct by the company. Tyro, which has yet to be served the documents, understands that these proceedings relate to the terminal connectivity incident in January.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price has tumbled 8% to $3.05. This appears to have been driven by a pullback in coal prices overnight. According to CommSec, the thermal coal price fell 3.9% to US$229.90 a tonne. In other news, this morning Morgans retained its add rating and increased its price target to $3.92.

Should you invest $1,000 in Sayona Mining Limited right now?

Before you buy Sayona Mining Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Sayona Mining Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Tyro Payments. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why James Hardie, Mayne Pharma, Nufarm, and Resimac shares are falling today

These shares are having a tough time on hump day. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Kogan, Monash IVF, OFX, and ResMed shares are falling today

Why are these shares taking a tumble today? Let's find out.

Read more »

A young male investor wearing a white business shirt screams in frustration with his hands grasping his hair after ASX 200 shares fell rapidly today and appear to be heading into a stock market crash
Share Fallers

Why Appen, DroneShield, Gentrack, and New Hope shares are dropping today

These shares are starting the week in the red. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Dexus, Dusk, Fletcher Building, and Paladin Energy shares are falling today

These shares are ending the week in the red. But why?

Read more »

Couple look at a bottle of wine while trying to decide what to buy.
Consumer Staples & Discretionary Shares

Treasury Wine shares: Buy, hold, or sell? Here's Macquarie's take

What is Macquarie forecasting for Treasury Wine shares amid the CEO’s unexpected exit?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Newmont, NRW, Peet, and Treasury Wine shares are dropping today

Let's find out why investors are selling down these shares on Thursday.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Aristocrat, EBR, GQG, and Insignia shares are tumbling today

These shares are having a tough time on hump day. Let's find out why.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Healius, Light & Wonder, REA Group, and Regis Resources shares are falling today

These shares are ending the week in the red. Let's find out why.

Read more »