The S&P/ASX 200 Index (ASX: XJO) has fought back from a soft start and is edging higher in afternoon trade. At the time of writing, the benchmark index is up slightly to 7,306 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 24% to 33 cents. Investors have been buying the drone defence technology company's shares after it announced a $33 million order from a government agency in the United States. The record-high award will see Droneshield supply equipment alongside multi-year services.
MMA Offshore Ltd (ASX: MRM)
The MMA Offshore share price is up 4% to $1.23. This has been driven by the release of a trading update this morning. The marine service provider revealed that it expects its earnings before interest, tax, depreciation, and amortisation (EBITDA) for FY 2023 to be in the range of $66 million to $68 million. This will be an increase of over 100% on the EBITDA it reported in the previous financial year.
Whispir Ltd (ASX: WSP)
The Whispir share price is up 5% to 30.5 cents. This follows the release of the communications-as-a-service platform provider's quarterly update. Although the company reported a small quarter on quarter decline in cash receipts, it revealed significant progress in its quest to become free cash flow break-even. As a result, management expects to generate positive cash flow during FY 2024.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 3% to $6.86. This morning, this coal miner released its quarterly update. It revealed a 19% quarter on quarter increase in managed run-of-mine (ROM) production to 5.1 million tonnes. This took its FY 2023 managed ROM coal production to 18.2 million tonnes. This was at the low end of its full-year guidance range of 18Mt to 19.2Mt.
