The S&P/ASX 200 Index (ASX: XJO) is on track to end the week with a decline. In afternoon trade, the benchmark index is down 0.5% to 6,697.1 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are racing higher:
Adairs Ltd (ASX: ADH)
The Adairs share price is up 4% to $2.00. The catalyst for this has been the release of the homewares retailer's trading update at its annual general meeting. Management advised: "Trading in the first 16 weeks of FY23 remains in line with our plan and is consistent with the guidance we provided to the market in August."
Life360 Inc (ASX: 360)
The Life360 share price is up 5% to $6.19. This morning this location technology company announced increases to the price of its subscriptions. The good news is that test price increases delivered positive results and thus management has decided to make those changes permanent. And while Life360 suspects that some level of customer churn will be inevitable from the change, testing to date has pointed to this being within management's target of a 10% reduction in retention.
Siteminder Ltd (ASX: SDR)
The Siteminder share price is up almost 3% to $3.00. Investors have been buying this hotel technology company's shares after it released its quarterly update and revealed a 31.8% increase in annualised recurring revenue to $144.95 million. Management notes that transaction revenue growth continues to significantly outperform the travel recovery, reflecting increasing customer uptake and usage rates across all products.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up over 6% to $10.67. This morning this coal miner announced the completion of its on-market share buyback. Whitehaven Coal bought back a total of 103.3 million shares at an average price of $5.69 per share for a total cost of $587.9 million. Combined with the dividends paid in FY 2022, this brings the company's total capital return to over $1 billion.
