In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.15% to 7,381.2 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are storming higher:
Altium Limited (ASX: ALU)
The Altium share price is up 3.5% to $41.29. Investors have been buying the electronic design software company's shares following the release of its annual general meeting update. At the meeting, Altium's CEO, Aram Mirkazemi, revealed that the company is back on form and on track to achieve its guidance in FY 2022. This means revenue growth in the range of 16% to 20% year over year.
Evolution Mining Ltd (ASX: EVN)
The Evolution Mining share price is up 9% to $4.37. This follows news that the company has signed an agreement to acquire Ernest Henry Mining for $1 billion. This acquisition will see Evolution take control of the world-class Ernest Henry copper-gold mine located near Cloncurry, Queensland. Evolution expects the transaction to increase its copper production while lowering its all-in sustaining cost (AISC) per ounce.
Sonic Healthcare Limited (ASX: SHL)
The Sonic share price is up more than 3% to $39.85. Investors have been buying this healthcare company's shares following the release of a trading update. That update reveals that during the first 4 months of FY 2022, Sonic's revenue was up 5% to $3,087 million and its EBITDA was up 16% to $991 million. Many brokers had been forecasting revenue and earnings declines in FY 2022.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price is up 2.5% to $11.53 after announcing an acquisition. According to the release, the wine giant has agreed to acquire Napa Valley's Frank Family Vineyards for about $432 million. Management notes that the acquisition is highly complementary to the Treasury Americas portfolio, filling an existing gap for luxury chardonnay.
