Why Archer Materials, Baby Bunting, Deep Yellow, and Downer shares are pushing higher

These ASX shares are rising on Thursday. But why?

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The S&P/ASX 200 Index (ASX: XJO) is back on form on Thursday. In afternoon trade, the benchmark index is up 0.5% to 7,189.6 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:

Archer Materials Ltd (ASX: AXE)

The Archer Materials share price is up 10% to 50 cents. This morning, the semiconductor company revealed that its biochip gFET design for advanced sensing has been validated by its commercial foundry partner. Archer now intends to integrate more functionality on the biochip and optimise the device size and geometry to build advanced sensing regions.

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price is up 2% to $1.96. This appears to have been driven by a broker note out of Citi. Its analysts upgraded the baby products retailer's shares to a buy rating with a $2.20 price target. The broker believes its valuation now adequately reflects the uncertainty around consumer spending.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up 10% to $1.07. Investors have been buying Deep Yellow and other ASX uranium shares today after the price of the chemical element reached a decade high. In addition, industry research is pointing to uranium demand growing strongly over the next couple of decades.

Downer EDI Ltd (ASX: DOW)

The Downer share price is up 1% to $4.21. This morning, the integrated services provider revealed that it has been selected to deliver the Planning Phase of the Australian Defence Force's proposed Woomera Redevelopment Program in South Australia. The contract is estimated to be worth $500 million to $750 million, with revenue to be split 50:50 between Downer and joint venture partners, CPB Contractors.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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