The S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain on Wednesday. In afternoon trade, the benchmark index is up 0.1% to 7,858.8 points.
Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 4.5% to 93 cents. Investors have been buying the counter drone technology company’s shares after it announced a new major contract win. Droneshield advised that it has received a repeat order of A$5.7 million from a U.S. Government customer for a number of its CUxS (Counter-UxS) systems. The delivery, involving multiple DroneShield product lines, is expected to be completed in several stages throughout the remainder of the year.
TechnologyOne Ltd (ASX: TNE)
The TechnologyOne share price is up 8% to $18.06. This enterprise software provider’s shares have been on fire since the release of its half year results on Tuesday. One broker that was impressed was Bell Potter. In response, the broker retained its buy rating and lifted its price target on the company’s shares to $19.00. It said: “The positive surprise of the result was the full year guidance of 12-16% PBT growth whereas Technology One historically has typically provided guidance of 10-15% growth.”
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price is up 4.5% to $16.09. This follows the release of the radiopharmaceutical company’s annual general meeting presentation. At the event, Chairman, Kevin McCann, said: “Despite all that we have achieved, there is plenty more to come. Indeed, it is the view of Management that 2024 is going to be the biggest year yet for Telix. By the end of the year, we expect to have launched new products and territories, reported several key development milestones for our therapy programs and progressed some of our very exciting “next generation” assets â such as TLX592 and TLX300.”
Webjet Ltd (ASX: WEB)
The Webjet share price is up 8% to $9.14. Investors have been buying the online travel agent’s shares following the release of its full year results. Webjet reported a 29% increase in revenue to $472 million and a 40% jump in underlying EBITDA to $188 million. A key driver of this growth was the WebBeds business, which reported a 26% increase in booking volumes and a 39% jump in EBITDA to $162 million. The company also revealed that it is looking to unlock value by demerging its WebBeds business into a separate ASX listing.
The post Why Droneshield, TechnologyOne, Telix, and Webjet shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Guess which 7 ASX 200 shares are smashing new 52-week highs today
- Up 246% in a year, here’s why the Droneshield share price is racing higher again today
- Webjet share price rockets 14% on record earnings and demerger announcement
- Is this ASX 200 tech stock in the buy zone following its results?
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor James Mickleboro has positions in Technology One and Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield, Technology One, and Telix Pharmaceuticals. The Motley Fool Australia has recommended Technology One and Telix Pharmaceuticals. 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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