In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.35% to 7,530.3 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:
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Amcor (ASX: AMC)
The Amcor share price is down over 3% to $16.70. Investors have been selling this packaging giant's shares following the release of its first half results. Amcor reported net sales of US$7.35 billion, which is an increase of 6% on the prior corresponding period. And while management has reaffirmed its full year guidance, this hasn't been enough for some investors.
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is down 10% to $9.37. This follows the release of the wholesale computer hardware and software distributor's unaudited full year results. Dicker Data reported a 25% increase in revenue to $3.1 billion but a small decline in net profit after tax to $73.4 million. Interestingly, last week, Goldman Sachs warned that Dicker Data's earnings could disappoint.
Elders Ltd (ASX: ELD)
The Elders share price is down 5% to $8.90 despite there being no news out of the agribusiness company. However, it was sent a price query by the ASX today. Elders said it could not explain the decline but noted that it "held two investor briefings yesterday with a number of institutional investors."
Healius Ltd (ASX: HLS)
The Healius share price is down almost 5% to $2.84. This morning, Morgan Stanley downgraded this healthcare company's shares to an underweight rating with a trimmed price target of $2.65. It was disappointed with Healius' performance during the first half of FY 2023.
