The S&P/ASX 200 Index (ASX: XJO) is having a subdued session. In afternoon trade, the benchmark index is down slightly to 7,659.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
APM Human Services International Ltd (ASX: APM)
The APM share price is up 15% to $1.63. This morning, the human services provider revealed that it has received an improved takeover offer from CVC Asia Pacific. The company advised that a new conditional, indicative, non-binding offer of $2.00 cash per share has been tabled. This is up from a $1.60 per share offer last week, which was rejected by the company. The board is willing to discuss the revised offer with CVC.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 16% to 88 cents. This follows the release of the counter-drone technology company's FY 2023 results. Droneshield reported a 226% increase in revenue to $55.1 million and an inaugural profit after tax of $9.3 million. This is up from a $900,000 loss last year.
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up 17% to $1.87. This morning, this technology company released its half-year results and revealed a 59% increase in revenue from continuing operations to $219.3 million. But the real highlight was its underlying EBITDA from continuing operations, which came in at $5.7 million. This represents an increase of $48.6 million from a loss of $42.9 million a year earlier.
Nextdc Ltd (ASX: NXT)
The NextDC share price is up 10% to $16.70. Investors have been buying the data centre operator's shares following the release of its half-year results. NextDC reported a 31% jump in revenue to $209.1 million and a 5% lift in underlying EBITDA to $102.0 million. Looking ahead, it continues to expect total revenue of $400 million to $415 million and underlying EBITDA in the range of $190 million to $200 million for FY 2024.
