In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline due largely to weakness in the resources sector. At the time of writing, the benchmark index is down 0.5% to 7,120.8 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are pushing higher:
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ALS Ltd (ASX: ALQ)
The ALS share price is up 4% to $12.49. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has upgraded this testing services company's shares to an add rating with a price target of $14.38. This follows the release of a solid FY 2022 result yesterday.
Appen Ltd (ASX: APX)
The Appen share price is up a massive 30% to $8.31. This has been driven by news that the artificial intelligence services company has received a takeover approach. Appen has received an unsolicited, conditional, and non-binding indicative proposal from Canada's TELUS International to acquire it for $9.50 per share. This values Appen at approximately $1.2 billion. While management has engaged with TELUS, it appears to be looking for a higher offer.
Objective Corporation Limited (ASX: OCL)
The Objective Corp share price is up 3% to $15.53. This morning this software company revealed that it has been awarded a five-year NZ$13 million contract from the New Zealand Police for the implementation of the Arms Information System. Objective's RegWorks will be used by New Zealand Police to manage the end-to-end regulation of registration and licensing for firearms.
WiseTech Global Ltd (ASX: WTC)
The WiseTech share price is up 3% to $41.03. Investors have been buying this logistics solutions company's shares following a strong night on the tech-focused Nasdaq index. It isn't just WiseTech that is rising today. The S&P/ASX All Technology Index is up 1.1% this afternoon despite the ASX 200 tumbling into the red.
