Why Amcor, Boss Energy, DroneShield, and Woolworths shares are rising today

These shares are having a better session than most on Wednesday.

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The S&P/ASX 200 Index (ASX: XJO) has started the month in a disappointing fashion. In afternoon trade, the benchmark index is down 1.1% to 7,580.8 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising.

Amcor (ASX: AMC)

The Amcor share price is up 4% to $14.39. This follows the release of the packaging giant's third-quarter update this morning. Year to date, for the nine months ended 31 March, Amcor reported net sales of US$10,105 million and net income of US$710 million. This is down 8% and 12%, respectively, over the prior corresponding period, due largely to a 7% decline in volumes year on year. While not great on paper, it is a meaningful improvement based on its performance during the first half of FY 2024.

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is up 3.5% to $5.11. Investors have been buying Boss Energy and other uranium stocks on Wednesday. This has been driven by reports that the Biden administration is considering a ban on imports of enriched Russian uranium. Russia currently provides almost a quarter of the enriched uranium used to fuel the United States' 90 commercial reactors. The market appears to believe the ban would give uranium prices a big boost. Particularly given how demand is already forecast to outstrip supply in the coming years.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up over 1% to 83.5 cents. This appears to have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has upgraded the counter drone technology company's shares to a buy rating with a $1.00 price target. It said: "DroneShield is now well placed to capitalise on the growing demand for C-UAS solutions in response to current global tensions and the evolution of modern warfare."

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price is up 0.5% to $32.05. Investors have been buying the supermarket giant's shares after it announced the sell down of its stake in drinks giant Endeavour Group Ltd (ASX: EDV). Woolworths has agreed to sell 5% of the issued capital of Endeavour Group via a block trade at a price of $5.22 per share. This generated proceeds of $468 million for Woolworths. Management advised that it intends to use the proceeds to return capital to shareholders and will provide an update with its full-year results in August.

Motley Fool contributor James Mickleboro has positions in Endeavour Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. The Motley Fool Australia has positions in and has recommended Amcor Plc. 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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