In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up a fraction to 7,197.3 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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ANZ Group Holdings Ltd (ASX: ANZ)
The ANZ share price is up 1.5% to $23.76. This appears to have been driven by a bullish broker note out of Goldman Sachs this morning. According to the note, the broker has upgraded the banking giant's shares to a buy rating with a price target of $27.38. Goldman also added its shares to its coveted conviction list.
Macmahon Holdings Ltd (ASX: MAH)
The Macmahon share price is up 19% to 15.5 cents. Investors have been buying this mining services company's shares following the release of a guidance update. Macmahon now expects revenue of approximately $1.9 billion and underlying operating earnings of between $113 million and $118 million. The latter is at the high end of its previous guidance range.
Next Science Ltd (ASX: NXS)
The Next Science share price is up 19% to 57 cents. This has been driven by the release of a market update from the medical technology company. It advised that it expects second-quarter product sales to come in above US$5.6 million (AU$8.5 million). That's up from US$4.4 million in the prior quarter.
Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is up a further 4.5% to $1.71. Investors have been buying this sports betting company's shares this week after it received an improved bid for its US operations. Fanatics has increased its offer to a headline cash consideration of US$225 million (~A$333 million). This compares to its previous offer of US$150 million and DraftKings' US$195 million bid.
