Why Brambles, Deep Yellow, Navigator Global, and ResMed shares are falling today

These ASX shares are ending the week in the red.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.4% to 6,838.6 points.

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

Brambles Limited (ASX: BXB)

The Brambles share price is down 4% to $13.38. This appears to have been driven by a broker note out of Citi this morning. In response to its quarterly update, the broker has downgraded its shares to a sell rating with a reduced price target of $13.15.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is down 6.5% to $1.29. This is despite there being no news out of the uranium developer today. However, it is worth noting that a number of ASX uranium shares are falling on Friday. Investors could be taking some profit off the table after strong gains in recent months. The Deep Yellow share price remains up more than 150% over the last six months.

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global share price is down 5% to $1.25. This follows the release of the investment company's annual general meeting update. Management's reluctance to provide guidance at the event may have spooked some investors. It said: "Given the large number of variables which will determine the earnings of the NGI Strategic Portfolio partner firms, Navigator is not in a position to provide earnings guidance."

ResMed Inc. (ASX: RMD)

The ResMed share price is down 3% to $21.76. This is despite the sleep treatment company delivering a first-quarter result slightly ahead of expectations this morning. ResMed reported a 16% increase in revenue to US$1.1 billion and a 5% lift in income from operations. Goldman Sachs notes: "EBIT/EPS beat +3%/+2% as gross margins modestly improved from 4Q23 (+20bps)."

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