In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. At the time of writing, the benchmark index is down 0.35% to 7,300.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Coronado Global Resources Inc (ASX: CRN)
The Coronado share price is up 3% to $1.65. This follows the release of the coal miner's second-quarter update this morning. Coronado posted quarterly revenue of $728 million, bringing its first-half revenue to $1.49 billion. This was underpinned by a 15.3% increase in run of mine (ROM) coal production to 7.3 million tonnes.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is up almost 2% to $22.08. This morning, the team at Ord Minnett responded positively to the travel agent's update by upgrading its shares to a buy rating with a $26.75 price target. The broker is feeling a lot more positive about the company's outlook and has upgraded its estimates accordingly.
IPD Group Ltd (ASX: IPG)
The IPD share price is up 3.5% to $4.75. Investors have been buying this electrical market distributor and service provider's shares after it announced an acquisition. IPD has acquired Perth-based EX Engineering for $10.2 million. EX Engineering specialises in designing, stocking, supplying, modifying and repairing electrical hazardous area equipment.
Service Stream Ltd (ASX: SSM)
The Service Stream share price is up 3% to 84.5 cents. This follows news that the essential services company has signed two new agreements. Service Stream expects the agreements to generate approximately $340 million in revenue over their respective terms. One is a five-year agreement with AGL Energy Limited (ASX: AGL) to perform station maintenance at the Loy Yang Power site in the Latrobe Valley.
