The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a modest gain. In afternoon trade, the benchmark index is up 0.1% to 8,638.3 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
CAR Group Limited (ASX: CAR)
The CAR Group share price is down 3% to $24.47. The catalyst for this has been the auto listings company's shares going ex-dividend this morning for its latest payout. Last month, CAR Group released its half-year results and declared a partially franked interim dividend of 42.5 cents per share. Eligible shareholders can now look forward to receiving this dividend next month on 13 April.
Immutep Ltd (ASX: IMM)
The Immutep share price is down a massive 89% to 4.4 cents. Investors have been selling this late-stage biotechnology company's shares after it released an update on the TACTI-004 Phase III study. Immutep revealed that the Independent Data Monitoring Committee (IDMC) for the TACTI-004 Phase III study has recommended the discontinuation of the trial following a planned interim futility analysis in accordance with the study protocol. The company's CEO, Marc Voigt, said: "We are very disappointed and surprised with the outcome of the futility analysis, in light of efti's performance in every other clinical trial. […] We are currently conducting a comprehensive review of the available data to better understand the results and determine the appropriate next steps for the program."
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is down over 17% to $22.10. This morning, this gold miner downgraded its production guidance for FY 2026 a second time. Northern Star advised that it has been impacted by weaker-than-planned milling performance at the KCGM operation and reduced mining productivity across several operating areas. It now expects FY 2026 production to come in above 1.5 million ounces. This compares to its most recent guidance of 1.6 million to 1.7 million ounces, which was downgraded from 1.7 million to 1.85 million ounces.
Syrah Resources Ltd (ASX: SYR)
The Syrah Resources share price is down 28% to 17.25 cents. This has been driven by news that the US International Trade Commission (ITC) has reached a final negative determination in an antidumping and countervailing duty investigation. It was looking into whether graphite active anode material (AAM) imports into the United States from China are materially retarding the establishment of a domestic AAM industry. Syrah believes the decision may "delay AAM sales from the Vidalia AAM facility and limit near-term demand growth for AAM produced in the United States and Balama natural graphite as feedstock for natural graphite AAM facilities outside China."
The post Why CAR Group, Immutep, Northern Star, and Syrah Resources shares are sinking 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended CAR Group Ltd. 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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