In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and pushing higher. At the time of writing, the benchmark index is up 0.4% to 8,398.6 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
DroneShield Ltd (ASX: DRO)
The DroneShield share price is down 5% to $3.63. This appears to have been driven by a de-escalation in Middle East tensions. Some investors may believe that this could mean less demand for counter-drone technology solutions than expected. Not even the release of an announcement has stopped its shares from falling. DroneShield announced new interoperability between its DroneSentry-C2 command-and-control software and optical sensing technologies from OpenWorks Engineering. DroneShield's chief product officer, Angus Bean, said: "Operators need clarity, not complexity. Expanding our ecosystem with additional optical sensing technologies from OpenWorks Engineering gives customers more options to tailor their deployments, while SensorFusionAI ensures all inputs are combined into a clear, operational picture."
Guzman Y Gomez Ltd (ASX: GYG)
The Guzman Y Gomez share price is down 3% to $16.75. This is despite there being no news out of the quick service restaurant operator. However, with its shares among the most shorted on the Australian share market, it is possible that short sellers have been increasing their positions and putting pressure on its share price.
Insurance Australia Group Ltd (ASX: IAG)
The IAG share price is down 1.5% to $7.32. This may have been driven by a broker note out of Morgan Stanley this morning. It has downgraded the insurance giant's shares to an underweight rating with a $6.60 price target. Morgan Stanley has concerns over AI disruption, believing that AI agents could put pressure on premiums by finding consumers better prices.
Myer Holdings Ltd (ASX: MYR)
The Myer share price is down almost 3% to 28.2 cents. This department store operator's shares were up as much as 17% today before taking an almighty U-turn. After initially responding positively to Myer's half-year results, the market appears to have seen something it didn't like. Myer reported total sales growth of 24.5% to $2,279.5 million including acquired businesses. On a pro forma basis, which adjusts for the inclusion of Apparel Brands in both periods, sales were up 2.1%. The company's underlying net profit after tax climbed 21.7% to $51.7 million, allowing the board to declare a fully franked interim dividend of 1.5 cents per share.
The post Why DroneShield, Guzman Y Gomez, IAG, and Myer shares are falling today appeared first on The Motley Fool Australia.
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 DroneShield and is short shares of DroneShield. 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2026