In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. The benchmark index is currently down 0.6% to 7,254.8 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are storming higher:
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Core Lithium Ltd (ASX: CXO)
The Core Lithium share price has jumped 6% to 84.3 cents. This morning the lithium developer revealed that drilling activities have uncovered more broad and high-grade lithium intersections at the Finniss Lithium Project near Darwin. These intersections are outside the current mineral resource.
Humm Group Ltd (ASX: HUM)
The Humm share price is up 3% to 88.4 cents. This follows news that Humm has finally struck a deal with Latitude Group Holdings Ltd (ASX: LFS) for its buy now pay later (BNPL), instalment, and credit card operations. Latitude will be buying the operations for a total consideration of $335 million. This comprises $35 million in cash and $300 million in shares.
Magellan Financial Group Ltd (ASX: MFG)
The Magellan share price has jumped 20% to $21.90. Investors have been buying the fund manager's shares following the release of its half year results. That release revealed that Magellan delivered first half profit growth of 16% to $248.1 million. In addition, the struggling fund manager is planning a 1 for 8 bonus issue of options to shareholders and considering a share buyback.
Smartgroup Corporation Ltd (ASX: SIQ)
The Smartgroup share price is up 11% to $8.18. This morning the salary packaging company released its full year results and revealed a 7% increase in net profit after tax (adjusted for amortisation) to $69.5 million. But the highlight was its 30 cents per share special dividend, which is in addition to its final dividend of 19 cents per share.
