Why Ampol, Findi, Humm, and Star Entertainment shares are dropping today

The S&P/ASX 200 Index (ASX: XJO) looks set to end the week in the red. In afternoon trade, the benchmark index is down 0.3% to 8,421.6 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Ampol Ltd (ASX: ALD)

The Ampol share price is down almost 2% to $29.04. This morning, the fuel retailer revealed that previously announced repairs to the Fluidised Catalytic Cracking Unit (FCCU) regenerator during November are now complete. As a result, the FCCU is moving into the start up process and total production for 2024 is expected be approximately 5.2 billion litres. It also revealed that trading during the fourth quarter has been largely consistent with commentary provided previously.

Findi Ltd (ASX: FND)

The Findi share price is down 21% to $6.11. This follows the release of the India-focused digital payments and financial services provider's half year results. Findi reported a 6.6% increase in revenue to $33.9 million and a 2.4% lift in EBITDA to $12.9 million. And while management has reaffirmed its full year guidance, investors appear concerned that it may not be able to achieve it. Findi is guiding to full year revenue in the range of $80 million to $90 million and EBITDA in the range of $30 million to $35 million. Management expects new agreements to drive very strong second half growth.

Humm Group Ltd (ASX: HUM)

The Humm Group share price is down a further 3.5% to 65.7 cents. Investors have been selling this financial services company's shares since the release of its annual general meeting update. Management said: "Consumers and SME businesses in Australia and New Zealand continue to be affected by inflation and cost of living pressures, with geo-political pressures hanging over the global economy."

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is down 2.5% to 19 cents. This appears to have been driven by a broker note out of Macquarie today. According to the note, the broker has downgraded the casino and resorts operator's shares to an underperform rating with a reduced price target of 20 cents. This follows the release of the company's annual general meeting earlier this week. In response to the update, the broker believes that the near term could be challenging for Star Entertainment. Particularly given its precarious balance sheet and the tough operating conditions it is experiencing at present.

The post Why Ampol, Findi, Humm, and Star Entertainment shares are dropping 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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. 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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