In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week deep in the red. At the time of writing, the benchmark index is down 1.3% to 6,929.4 points.
Four ASX shares that have avoided the market selloff today are listed below. Here’s why they are rising:
Breville Group Ltd (ASX: BRG)
The Breville share price is up 1% to $18.22. This morning the appliance manufacturer reiterated that its FY 2022 earnings before interest and tax (EBIT) should be in line with its previous guidance and the market consensus. Breville is expecting to report EBIT of ~$156 million for the 12 months. This will be a year on year increase of 14.4% from $136.4 million in FY 2021.
Bubs Australia Ltd (ASX: BUB)
The Bubs share price is up over 8% to 64.5 cents. Investors have been buying this infant formula company’s shares after it revealed that some of its recently shipped products to the US will go on sale at Kroger supermarkets and Albertsons Companies. Investors appear to be betting on these retailers continuing to range Bubs’ products when supply issues are resolved.
Terracom Ltd (ASX: TER)
The Terracom share price is up 3% to 81 cents. This morning the coal miner advised that it is on track to deliver 640,000 tonnes from the Blair Athol coal mine in Queensland for the June quarter. This will support 2.3 million tonnes of annual coal sales. Quarterly operating EBITDA for Blair Athol is expected to be $180 million. This strong performance is expected to lead to the resumption of dividend payments again.
Xero Limited (ASX: XRO)
The Xero share price is up over 2% to $81.62. Investors have been buying this cloud accounting platform provider’s shares after analysts responded positively to price increases. The team at Citi commented: “We see Xero’s decision to increase prices in ANZ and UK as an indication of the company’s confidence in its position in its core markets.”