The S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is charging higher. In afternoon trade, the benchmark index is up 0.7% to 7,048.1 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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Bega Cheese Ltd (ASX: BGA)
The Bega Cheese share price is up 12% to $4.19. Investors have been buying this food company's shares following the release of its full year results. This was despite the company reporting a 69% decline in net profit after tax to $24.2 million. Its guidance for a jump in EBITDA in FY 2023 appears to have impressed investors.
Jumbo Interactive Ltd (ASX: JIN)
The Jumbo share price is up 6% to $14.77. This morning the online lottery ticket seller released its full year results and reported a 25% increase in revenue to $104.3 million and a 14% lift in underlying net profit after tax to $32.2 million. This allowed the Jumbo board to increase its dividend by 16%.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 3.5% to $3.53. A number of lithium miners are pushing higher today despite there being no news out of them. However, a bullish broker note out of Macquarie earlier this week still appears to be front of mind. This has even offset a downgrade to neutral by Citi this morning.
Qantas Airways Limited (ASX: QAN)
The Qantas share price is up 5.5% to $5.13. This morning the team at Credit Suisse responded to the airline operator's full year results by upgrading its shares to an outperform rating with an improved price target of $5.65. Elsewhere Macquarie retained its outperform rating and lifted its price target to $7.05.
