Why Betmakers, Brambles, Challenger, and Stockland shares are charging higher

These ASX shares are having strong days…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on form again and pushing higher. At the time of writing, the benchmark index is up 0.4% to 7,601.3 points.

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

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price is up 17% to 75.7 cents. This afternoon the betting technology company revealed that it has been selected as the exclusive technology and services provider in Australia and New Zealand for a new online sports betting venture with News Corp (ASX: NWS). The 10-year contract includes a revenue share arrangement with potential revenues greater than $300 million. As one of the most shorted ASX shares, short sellers may be wishing they had closed their positions sooner.

Brambles Limited (ASX: BXB)

The Brambles share price is up 8% to $10.83. This morning the logistics solutions company released a trading update which revealed that year to date sales were up 7% to US$4,067 million during the first three quarters of FY 2022. This was stronger than the company was expecting, leading to management upgrading its full year sales and earnings guidance.

Challenger Ltd (ASX: CGF)

The Challenger share price is up 10% to $7.53. This follows the release of the annuities company’s third quarter update. That update revealed solid growth across its Life business, which has led to management making a soft upgrade to its FY 2022 guidance. It now expects to hit the upper end of its normalised net profit before tax guidance of $430 million to $480 million.

Stockland Corporation Ltd (ASX: SGP)

The Stockland share price is up 3% to $4.22 following the release of the property company’s quarterly update. Stockland revealed that it had a strong quarter, with 95% of commercial property rent collections made and high occupancy levels maintained. This led to management reiterating its full year guidance.

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 and has recommended Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd and Challenger 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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