Why Data#3, Elders, Karoon Energy, and Tyro shares are falling today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and on course to record a solid gain. At the time of writing, the benchmark index is up almost 0.9% to 8,322.6 points.

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

Data#3 Ltd (ASX: DTL)

The Data#3 share price is down 10% to $6.70. This morning, this information technology (IT) services and solutions provider revealed that tech giant Microsoft has announced changes to its partner incentive program. This will reduce the incentives earned by the tech stock on its Microsoft Enterprise agreements from 1 January 2025. Management estimates that these changes would've impacts its FY 2024 gross profit by 3%. Investors appear to believe the future impact may be even greater based on today's selling.

Elders Ltd (ASX: ELD)

The Elders share price is down 2% to $7.30. This has been driven by the agribusiness company's shares going ex-dividend this morning. Last month, Elders released its full year results and reported a 38% decline in underlying profit after tax to $64 million. This led to the company cutting its dividend by 22% for the year, which includes a partially franked 18 cents per share final dividend. It is this dividend that its shares are going ex-dividend for today. Eligible shareholders can look forward to being paid it next month on 24 January.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price is down 8% to $1.28. Investors have been selling this energy producer's shares after it downgraded its full year guidance. Karoon Energy advised that two of sixteen chains securing its floating production storage and offloading have failed. This has led to management being forced to shut down production from the Baúna Project, located offshore Brazil. As a result, the company has downgraded Baúna guidance from 7.5 million barrels to 7.7 million barrels of oil to 7.2 million barrels to 7.4 million barrels.

Tyro Payments Ltd (ASX: TYR)

The Tyro Payments share price is down 3.5% to 83.5 cents. This appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has downgraded this payments company's shares to an underweight rating with a heavily reduced price target of 80 cents. Morgan Stanley has doubts over the company's ability to grow its revenue as strong as expected.

The post Why Data#3, Elders, Karoon Energy, and Tyro 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 Microsoft and Tyro Payments. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Elders, Microsoft, and Tyro Payments. 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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