Why Block, Canyon, Fisher & Paykel Healthcare, and Mesoblast shares are falling today

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Why Block, Canyon, Fisher & Paykel Healthcare, and Mesoblast shares are falling today

^{Published on 2025-02-04 22:21:10 - MSN}

These shares are having a tough time on hump day. What's going on? The post Why Block, Canyon, Fisher & Paykel Healthcare, and Mesoblast shares are falling today appeared first on The Motley Fool Australia.

The article from MSN discusses the reasons behind the recent decline in share prices for three companies listed on the ASX: Block, Fisher & Paykel Healthcare, and Mesoblast. Block's shares fell after the company announced a disappointing quarterly update, revealing a significant drop in gross profit and a lower-than-expected operating income, alongside a reduction in its full-year guidance. Fisher & Paykel Healthcare experienced a share price drop following a trading update that showed a 32% decrease in half-year net profit, attributed to lower hospital equipment sales and a stronger NZD affecting export earnings. Lastly, Mesoblast's shares plummeted after the FDA issued a complete response letter rejecting the company's Biologics License Application for remestemcel-L, a treatment for children with steroid-refractory acute graft versus host disease, due to insufficient evidence of efficacy.

Read the Full MSN Article at:
[ https://www.msn.com/en-au/money/top-stocks/why-block-canyon-fisher-paykel-healthcare-and-mesoblast-shares-are-falling-today/ar-AA1yqoip ]

N@N

Why Block, Canyon, Fisher & Paykel Healthcare, and Mesoblast shares are falling today