Why Calix, Imugene, Legacy Iron Ore, and Lovisa shares are charging higher

These ASX shares are on form today…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and tumbling lower. At the time of writing, the benchmark index is down 0.7% to 7,416.2 points.

Four ASX shares that have not let that hold them back are listed below. Here's why they are charging higher:

Calix Ltd (ASX: CXL)

The Calix share price is up 6% to $7.59. This follows the release of the environmental technology company's annual general meeting presentation. That presentation talked up the company's development of multiple environmental business opportunities. Management estimates that it has several billion dollar plus opportunities.

Imugene Limited (ASX: IMU)

The Imugene share price is up 5.5% to 60.7 cents. This morning the immuno-oncology focused biopharmaceutical company announced a new clinical trial supply agreement with Merck and Pfizer. The parties intend to work together to evaluate the safety and efficacy of Imugene's HER-Vaxx when combined with avelumab in patients with HER-2 positive gastric cancer.

Legacy Iron Ore Limited (ASX: LCY)

The Legacy Iron Ore share price has jumped 84% to 3.5 cents. This follows news that the iron ore explorer has signed an agreement with a subsidiary of Gina Rinehart's Hancock Prospecting for the Mt Bevan iron ore project. This project is owned 60:40 by Legacy Iron Ore and Hawthorn Resources Limited (ASX: HAW). Hancock Magnetite has agreed to an earn-in under a subsequent joint venture agreement to develop the project.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up 1.5% to $21.94. Investors have been buying this fashion jewellery retailer's shares after Macquarie upgraded them to an outperform rating with an improved price target of $25.00. The broker sees a very big opportunity for Lovisa in the China and India markets. Its analysts also believe the company's new CEO is a great fit.

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. has no position in any of the stocks mentioned. 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 Bruce Jackson.

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