Why Appen, Janus Henderson, Lithium Energy, and Pinnacle shares are charging higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.35% to 7,537.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Appen Ltd (ASX: APX)

The Appen share price is up 4% to $2.66. This may have been driven by optimism over the quarterly update from Meta Platforms. Given that the Facebook owner is one of Appen’s largest customers, its return to form could be good news for the artificial intelligence data services company.

Janus Henderson Group PLC (ASX: JHG)

The Janus Henderson share price is up 13% to $41.60. This follows the release of the fund manager’s fourth quarter update. Janus Henderson’s non-GAAP earnings per share of 61 US cents was 20 US cents ahead of consensus estimates. The company’s revenue also came in almost US$45 million higher than expectations at US$515.2 million.

Lithium Energy Ltd (ASX: LEL)

The Lithium Energy share price is up 7% to 89 cents. Investors have been snapping up this battery materials explorer’s shares following the release of an update on the Burke Graphite Project. That update reveals that assays have confirmed the project to be one of the world’s highest-grade deposits.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle share price is up 11% to $10.40. This may have been driven by a broker note out of Morgans this morning. Although a touch underwhelmed with the investment management company’s half year results, it believes the selloff has created a good entry point for investors. As a result, the broker has upgraded Pinnacle’s shares to an add rating with a $10.75 price target.

The post Why Appen, Janus Henderson, Lithium Energy, and Pinnacle shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• 3 ASX All Ords shares rocketing 10% or more today
• Why did this ASX lithium share just rocket 9%?
• ASX 200 stock Pinnacle dives 7% on earnings miss
• Why QBE, Pinnacle, Rio Tinto, and Virgin Money shares are dropping
• Why Appen, Gold Road, Healius, and Pinnacle shares are dropping today

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 Appen and Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management 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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