Why Life360, Qantas, Qoria, and Silver Lake shares are racing higher today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. At the time of writing, the benchmark index is up slightly to 7,779.9 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are racing higher on Monday:

Life360 Inc (ASX: 360)

The Life360 share price is up 17% to $14.20. This follows the release of a trading update which revealed that the location technology company has had a record first quarter. Life360’s global Monthly Active Users (MAU) were 66.4 million at the end of the first quarter. This is an increase of 4.9 million since the end of the fourth quarter and represents a record for a first quarter. It is also more than double the net additions of 2.2 million the company recorded in the prior corresponding period. Life360 also suggested that a dual listing on Wall Street could be coming soon.

Qantas Airways Limited (ASX: QAN)

The Qantas Airways share price is up 5% to $5.71. Investors have responded positively to news that Qantas is making “one of the biggest ever expansions” of its frequent flyer program. This will see the Flying Kangaroo add 200 million more reward seats with the launch of Classic Plus Flight Rewards. CEO Vanessa Hudson said: “The Qantas Frequent Flyer program is an integral part of Qantas and has always been about recognising our customers for their loyalty. The widespread availability of Classic Plus means that frequent flyers have more options to fly where they want, when they want and more often, using their points.”

Qoria Ltd (ASX: QOR)

The Qoria share price is up 30% to 41 cents. This follows news that the cyber safety company has received and rejected a takeover offer. According to the release, the company, formerly known as Family Zone Cyber Safety, believes the 40 cents per share offer from K1 Investment Management “significantly undervalues Qoria and has unanimously rejected the Indicative Proposal as not being in the best interests of shareholders.”

Silver Lake Resources Ltd (ASX: SLR)

The Silver Lake Resources share price is up 5% to $1.34. Investors have been buying this gold miner’s shares following the release of a sales update. According to the release, Silver Lake Resources’ sales for the third quarter were 64,463 ounces of gold and 338 tonnes of copper. This brings financial year to date sales to 187,244 ounces of gold and 872 tonnes of copper. Management advised that both the Mount Monger and Deflector operations performed strongly through the quarter and are well positioned to meet the top end of their respective guidance ranges.

The post Why Life360, Qantas, Qoria, and Silver Lake shares are racing higher today appeared first on The Motley Fool Australia.

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More reading

• This ASX All Ords small-cap is soaring 33% on a takeover bid
• Qantas share price takes off on ‘biggest ever expansions’ of core loyalty program
• Why is the Life360 share price rocketing 22% to a record high?
• Buy this high-flying ASX 200 tech stock for a big return
• Why one fund manager thinks Qantas shares are cheap and ‘incredibly underappreciated’

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 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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