Why Aussie Broadband, Core Lithium, Cardno, and Nuix are storming higher

These ASX shares are ending the week strongly…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in a subdued fashion. At the time of writing, the benchmark index is up very slightly to 7,417.2 points.

Four ASX shares climbing more than most today are listed below. Here’s why they are storming higher:

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price is up 5.5% to $4.94. This morning the broadband provider confirmed that it is in talks to acquire Over the Wire Holdings Ltd (ASX: OTW). However, it also warned that takeover talks are preliminary and incomplete, and no agreement has been reached. Over the Wire offers data networks, voice services, internet connectivity, and technological support.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 7% to 61.5 cents. This appears to have been driven by an announcement that reveals that its offtake agreement with Ganfeng Lithium is now unconditional following receipt of Chinese regulatory approvals. The agreement will see the Chinese lithium giant take 75ktpa of spodumene concentrate for a period of four years.

Cardno Limited (ASX: CDD)

The Cardno share price has jumped 17% to $1.52. Last night the infrastructure and services company announced an agreement with US-based Stantec. That agreement will see Cardno sell its Americas consulting division and its Asia Pacific consulting division to Stantec for a total of US$500 million (~A$667 million). Cardno intends to distribute between A$567 million to A$600 million of the proceeds to shareholders.

Nuix Ltd (ASX: NXL)

The Nuix share price is up 3% to $3.06. This morning the investigative analytics and intelligence software provider announced the appointment of Jonathan Rubinsztein as its new CEO and Executive Director. This follows Mr Rubinsztein’s recently announced resignation from auto parts software company Infomedia Limited (ASX: IFM).

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Aussie Broadband Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia has recommended Aussie Broadband 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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