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Why Lendlease, Meteoric Resources, Super Retail, and Woodside shares are rising today

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The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Thursday. In afternoon trade, the benchmark index is down slightly to 8,651.9 points.

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

Lendlease Group (ASX: LLC)

The Lendlease share price is up over 2% to $2.68. This follows the announcement of its new CEO and the release of a trading update. With respect to the latter, Lendlease reaffirmed its Investments, Development and Construction segment FY 2026 earnings per share guidance of 28 cents to 34 cents. This is subject to targeted completions. In addition, it revealed that underlying group gearing is expected in the mid-30% range. Earlier in the day, the company revealed that Nick O’Neil will become its new CEO from 10 September. Lendlease chair, John Gillam, said: “With our strategy reset, portfolio simplification and foundations firmly in place, Nick is ideally positioned to lead the next phase of revitalising and strengthening Lendlease. He brings deep real asset management experience, a strong track record in global investment and innovation in aligning capital to market opportunities, as well as the leadership experience needed to drive execution and growth.”

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is up 7% to 15.5 cents. This morning, the rare earths developer released an update on its Caldeira Rare Earth Project in Brazil. It revealed that its pilot plant achieved outstanding MREO recoveries of 80% during May. Meteoric’s managing director and CEO, Stuart Gale, said: “Results from our first five months of Pilot Plant operation have been excellent and exceed our expectations. It has validated the investment Meteoric has made in metallurgical and process testwork, along with the assumptions made in our studies to date.”

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price is up 1.5% to $12.44. This follows the unveiling of a new strategy from the retail conglomerate this morning. Super Retail’s new strategy outlines how it intends to capture a greater share of its $65 billion addressable market opportunity across automotive, sport, and outdoor. This will be through growth in its core categories and expansion into adjacent categories within those markets. The company’s CEO, Paul Bradshaw, said: “Our new Group Strategy puts the customer at the centre of everything we do as we build our business for its next phase of growth. We are determined to be closer to our customers than ever before – understanding and meeting their needs as they continue to evolve. Together, our four brands capture $4 billion of a $65 billion market opportunity in Australia and New Zealand. We have an incredible opportunity to pursue growth across our core auto, sport and outdoor markets, both in traditional and adjacent categories.”

Woodside Energy Group Ltd (ASX: WDS)

The Woodside Energy share price is up 1.5% to $31.53. Investors have been buying the energy giant’s shares after oil prices jumped in response to an escalation in tensions in the Middle East. The S&P/ASX 200 Energy index is up 1.5% at the time of writing.

The post Why Lendlease, Meteoric Resources, Super Retail, and Woodside shares are rising today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail 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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