In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back most of its intraday gains and is fighting to stay in positive territory. At the time of writing, the benchmark index is up 0.1% to 7,572.6 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:
Alliance Aviation Services Ltd (ASX: AQZ)
The Alliance Aviation share price is up 3% to $3.87. This follows the announcement of a further material increase in E190 flying activities pursuant to its agreement with Qantas Airways Limited (ASX QAN). The airline giant has exercised four more leasing options, bringing the total to 18 aircraft. Qantas is leasing these aircraft and crew on three-year terms from Alliance.
Life360 Inc (ASX: 360)
The Life360 share price is up 3% to $5.54. This morning Bell Potter retained its buy rating and $10.00 price target on this location technology company’s shares. Ahead of its first quarter update, the broker said: “We expect another quarter of at least 50% y-o-y growth in AMR despite Q1 traditionally not being a strong quarter.”
Ramsay Health Care Limited (ASX: RHC)
The Ramsay Health Care share price has jumped 24% to $80.02. This follows the receipt of a takeover approach. According to the release, a consortium led by KKR has tabled a non-binding $88 cash per share offer to acquire the private hospital operator. This will be reduced by any dividends paid. Ramsay has granted the consortium due diligence access.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 3% to $4.80. Investors have been buying this coal miner’s shares after it released its quarterly update. For the third quarter, Whitehaven Coal reported a record average coal price of $315 per tonne. This is up from $101 in the prior corresponding period and $204 during the first half of FY 2022.
The post Why Alliance Aviation, Life360, Ramsay Health Care, and Whitehaven Coal are racing higher appeared first on The Motley Fool Australia.
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More reading
- ASX 200 midday update: Ramsay rockets and Rio Tinto disappoints
- Coal hard cash: Here’s why the Whitehaven share price just hit a multi-year high
- Ramsay Health Care share price rockets 28% higher on takeover bid
- These 2 blue-chip ASX shares are opportunities: expert
- Ramsay Health Care share price on watch amid $14.8bn takeover offer
Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Alliance Aviation Services Ltd. and Life360, Inc. The Motley Fool Australia owns and has recommended Alliance Aviation Services Ltd. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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