Why Brickworks, Judo Capital, Kelsian, and Myer shares are falling today

These shares are falling on Thursday. But why? Let's find out.

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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 0.95% to 7,903.3 points.

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

Brickworks Ltd (ASX: BKW)

The Brickworks share price is down 1% to $23.55. This follows the release of the building products company's half year results this morning. Brickworks reported a 6% decline in total revenue to $516 million but a 472% jump in underlying EBITDA to $148 million. The latter was driven by its Property business, which swung from an EBITDA loss of $178 million to a profit of $38 million. However, excluding revaluations in the prior period, Property EBITDA was down 32% for the half. Looking ahead, management warned that its outlook was challenging for both Building Products Australia and North America.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo Capital share price is down 7.5% to $1.72. This is despite there being no news out of the small business lender today. However, prior to today, Judo Capital's shares were up almost 50% over the past 12 months. This could mean that some investors have decided to take profit during today's session.

Kelsian Group Ltd (ASX: KLS)

The Kelsian share price is down almost 2% to $2.82. This has been driven by the travel and transport company's shares going ex-dividend for its latest dividend this morning. Last month, Kelsian released its half year results and reported a 9.1% increase in revenue to $1,071.8 million but a 7.9% decline in underling net profit after tax and before amortisation to $39.7 million. However, despite the profit decline, the company's board elected to keep its fully franked interim dividend on hold at 8 cents per share. This will be paid to eligible shareholders next month on 23 April.

Myer Holdings Ltd (ASX: MYR)

The Myer share price is down 6% to 70.5 cents. Investors have been selling the department store operator's shares since the release of its half year results this week. Myer revealed a modest 0.1% increase in total sales to $1,830.9 million and an 18.5% decline in underlying net profit after tax to $42.4 million. Management also revealed that trading conditions have remained challenging in the second half due to the tough macroeconomic environment. This has led to Myer reporting a 2.6% decline in sales for first five weeks of the second half.

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. has positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool Australia has recommended Myer. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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