Why ALS, Appen, Objective Corp, and WiseTech shares are pushing higher

These ASX shares are on form on Thursday…

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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:

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.

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 positions in and has recommended Appen Ltd, Objective Corporation Limited, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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