Why Ansell, Elsight, Ramelius, and SGH shares are falling today
The S&P/ASX 200 Index (ASX: XJO) is having a decent session on Thursday. In afternoon trade, the benchmark index is up 0.2% to 8,710.7 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Ansell Ltd (ASX: ANN)
The Ansell share price is down over 6% to $33.28. Investors have been selling this health and safety products company's shares after it announced the exit of its CEO. Ansell revealed that Neil Salmon has decided to retire after 13 years with the company. Replacing Salmon will be Nathalie Ahlstrom, who brings strong global experience having served until recently as CEO and President of the Fiskars Group. Commenting on the appointment, Ansell's chair, Nigel Garrard, said: "We are delighted to appoint Nathalie as Ansell's next Managing Director and CEO. Nathalie brings exceptional leadership experience, a track record of delivering results in complex global markets, and a deep understanding of innovation and operational excellence."
Elsight Ltd (ASX: ELS)
The Elsight share price is down almost 3% to $3.48. This morning, this global provider of resilient connectivity solutions for unmanned systems announced a new contract win with a U.S.-based commercial customer in the public safety sector. However, the value of the contract is only US$460,000 (A$682,000). Though, Elsight's CEO, Yoav Amitai, believes it is a positive signal. He said: "We see this as an early indicator of accelerating commercial momentum driven by regulatory progress in parallel to the continued growth in the defence market."
Ramelius Resources Ltd (ASX: RMS)
The Ramelius Resources share price is down almost 3% to $4.14. This follows the release of a quarterly update from the gold miner. Ramelius reported gold production of 45,610 ounces for the three months. This was down 17% from 55,013 ounces in the previous quarter. The company also posted underlying free cash flow of $67 million for the three months, which was down from $129 million in the first quarter. Management believes it is positioned to meet its FY 2026 guidance of 185,000 ounces to 205,000 ounces.
SGH Ltd (ASX: SGH)
The SGH share price is down 2% to $48.01. This has been driven by news that BlueScope Steel Ltd (ASX: BSL) has rejected its takeover proposal. The company's chair, Jane McAloon, said: "Let me be clear – this proposal was an attempt to take BlueScope from its shareholders on the cheap. It drastically undervalued our world-class assets, our growth momentum, and our future – and the Board will not let that happen. This is the fourth time we've said no, and the answer remained the same – BlueScope is worth considerably more than what was on the table."
The post Why Ansell, Elsight, Ramelius, and SGH 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell. 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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