The S&P/ASX 200 Index (ASX: XJO) is having a poor start to the week. In afternoon trade, the benchmark index is down 0.7% to 8,685.2 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
ANZ Group Holdings Ltd (ASX: ANZ)
The ANZ share price is down almost 3% to $35.78. Investors have been selling the banking giant's shares on Monday after they went ex-dividend for the bank's latest payout. Last week, the big four bank released its half-year results and declared a partially franked interim dividend of 83 cents per share. Eligible ANZ shareholders can look forward to receiving this latest dividend in around seven weeks on 1 July.
CSL Ltd (ASX: CSL)
The CSL share price is down 19% to $97.36. It goes from bad to worse for this struggling biotechnology giant. This morning, CSL revealed that it would be cutting its FY 2026 earnings guidance and plans to make $5 billion in additional asset impairments. CSL's interim CEO, Gordon Naylor, said: "Our growth initiatives are working, but the financial benefits will take longer than previously anticipated to materialise. As a result, we have now revised down our 2026 financial year guidance. CSL's culture and people continue to be first class, the industry is stable and growing and the company has evident strengths in plasma collections and influenza vaccines. I am confident that the company can be returned to profitable growth and my work is to position the business and the next CEO for success." FY 2026 revenue is now expected to be around US$15.2 billion, while NPATA is forecast to be approximately US$3.1 billion.
Dateline Resources Ltd (ASX: DTR)
The Dateline Resources share price is down almost 14% to 20.7 cents. This follows the release of the Bankable Feasibility Study (BFS) for its Colosseum Gold and Rare Earth Element (REE) Project in the United States. The project has a net present value of US$785 million (pre-tax), which increases to US$999 million using the spot gold price. Start-up costs are expected to be US$249 million. It seems that the market was expecting stronger numbers from the BFS.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is down 6% to $3.42. This is despite there being no news out of the counter-drone technology company today. However, it is worth highlighting that a number of ASX defence shares are falling today. Some investors may have decided to take profit after strong gains over the past 12 months.
The post Why ANZ, CSL, Dateline, and DroneShield shares are sinking today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and DroneShield. The Motley Fool Australia has recommended CSL. 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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