The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with the smallest of gains. In afternoon trade, the benchmark index is up a fraction to 7,436.6 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)
The Fisher & Paykel Healthcare share price is up 6% to $24.60. This follows the release of the medical device companyâs FY 2023 guidance this morning. According to the release, the company expects full year operating revenue for the 2023 financial year to be within the range of approximately NZ$1.55 billion to NZ$1.60 billion. While this will be down slightly on FY 2022âs operating revenue of NZ$1.68 billion, it still appears to be better than feared.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 8.5% to $4.36. Investors have been scrambling to buy this lithium minerâs shares following the release of a strong quarterly update. Pilbara Mineralsâ production, sales volumes, lithium prices, and unit costs all improved quarter on quarter. It also revealed that it is swimming in cash. The company’s cash balance lifted from $1.375 billion at the end of September to $2.226 billion at the end of December.
Resolute Mining Ltd (ASX: RSG)
The Resolute share price is up 8% to 28 cents. This follows a decent rise in the gold price overnight. It isnât just Resolute Mining that is rising today. Plenty of other ASX gold miners are climbing with it. This has seen the S&P/ASX All Ordinaries Gold index rise almost 2% on Friday afternoon.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up over 6% to $9.51. This morning, this coal miner released its second quarter update and revealed further strong prices. As a result, the company commanded a record high coal price for the first half. In light of this, management expects to more than quadruple its first half operating earnings.
The post Why Fisher & Paykel, Pilbara Minerals, Resolute, and Whitehaven Coal are storming higher appeared first on The Motley Fool Australia.
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More reading
- 3 ASX 200 shares leaping more than 5% on strong earnings updates
- ‘In harvest mode’: Why the Pilbara Minerals share price is rocketing 8% higher today
- Whitehaven Coal share price charges higher on record half
- My top predictions for ASX 200 mining shares in 2023
- Pilbara Minerals share price on watch following Q2 update
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 no position in any of the stocks mentioned. 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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