The S&P/ASX 200 Index (ASX: XJO) is out of form and tumbling notably lower. In afternoon trade, the benchmark index is down 0.7% to 7,378.9 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why these ASX shares are charging higher:
HT&E Ltd (ASX: HT1)
The HT&E share price has surged 32% higher to $1.94. This morning the advertising and media company announced that it has reached a binding heads of agreement to settle the taxation dispute with the ATO for the sum of $71 million.
JB Hi-Fi Limited (ASX: JBH)
The JB Hi-Fi share price is up over 4% to $50.48. Investors have been buying this retail giant's shares after it was upgraded by a leading broker. According to a note out of Macquarie Group Ltd (ASX: MQG), its analysts have upgraded JB Hi-Fi's shares to an outperform rating with a $52.50 price target. The broker notes that consumer electronic purchases have rebounded strongly across its Macquarie Credit Card dataset.
Reece Ltd (ASX: REH)
The Reece share price is up 6% to $19.93. Investors have been buying the plumbing parts company's shares following the release of its first quarter update. That update revealed sales growth of 13.2% for the three months ended 30 September. In light of this, management is guiding to first half EBITDA growth of 8% to 11%.
ResMed (ASX: RMD)
The ResMed share price is up 5% to $37.36. This follows the release of a first quarter result ahead of the market's expectations. The sleep treatment focused medical device company reported a 20% increase in revenue to US$904 million and GAAP earnings per share of US$1.39. This compares to consensus estimates of US$860 million and US$1.24 per share, respectively.
