Why Calix, Genex, Life360, and Spartan Resources shares are rising

The S&P/ASX 200 Index (ASX: XJO) is having a subdued start to the week. In afternoon trade, the benchmark index is down slightly to 7,741.4 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Calix Ltd (ASX: CXL)

The Calix share price is up 12% to $1.98. Investors have been buying the environment technology company’s shares after it found a new home for its Leilac-2 (Low Emissions Intensity Lime And Cement) project. The Leilac-2 will now be constructed at Heidelberg Materials’ cement plant in Ennigerloh, Germany. In January, Calix shares were sold off after previous construction plans were shelved.

Genex Power Ltd (ASX: GNX)

The Genex Power share price is up 30% to 24 cents. This has been driven by news that the renewable energy company has received a 27.5 cents per share non-binding takeover offer from Japan’s J-POWER. Management has granted due diligence access and advised that it would be willing to accept the offer if it became binding.

Life360 Inc (ASX: 360)

The Life360 share price is up 8% to $12.20. Investors have been buying this location technology company’s shares after brokers responded very positively to its FY 2023 results. One of those brokers was Goldman Sachs, which reiterated its buy rating with an improved price target of $14.20.

Spartan Resources Ltd (ASX: SPR)

The Spartan Resources share price is up 9% to 54.5 cents. This morning, the gold explorer announced exceptional intercepts from drilling at the Never Never gold deposit from the Dalgaranga Gold Project in Western Australia. Management believes the results highlight the growing strategic significance of the high-grade deposit.

The post Why Calix, Genex, Life360, and Spartan Resources shares are rising appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX tech stock is jumping 15% today
• Genex share price jumps 38% on $381 million takeover bid
• Why Life360 shares can keep rocketing
• 5 things to watch on the ASX 200 on Monday
• Here’s how the ASX 200 market sectors stacked up this week

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Life360. 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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