In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 7,770.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are falling:
Playside Studios Ltd (ASX: PLY)
The Playside Studios share price is up 5.5% to 95 cents. Investors have been buying this game developer's shares after it upgraded its guidance for FY 2024. Playside Studios now expects revenue of $63 million to $65 million and EBITDA of $16 million to $18 million. The company's earnings guidance upgrade represents a 42% increase on the midpoint of its previous guidance of $11 million to $13 million and is a huge jump from a $1.7 million loss in FY 2023.
Pro Medicus Limited (ASX: PME)
The Pro Medicus share price is up over 2% to $115.77. This morning, this health imaging company announced five new contracts with a combined minimum contract value of $45 million. Management advised that the contracts will be fully cloud deployed and are expected to be completed within the next 6 months. The good news is that there could be more contract wins on the way. CEO, Dr Sam Hupert, said: "Despite record new contract signings this year, our pipeline remains strong with a broad range of opportunities both in terms of size and market segments."
Strike Energy Ltd (ASX: STX)
The Strike Energy share price is up 8% to 22.2 cents. This follows news that the Walyering gas field development has reached payback (inclusive of royalties and production costs) only eight months after start-up. Management believes this demonstrates the value of Strike Energy's high margin, low-cost conventional Perth Basin Jurassic portfolio. Total gross income received to date from the Walyering project is approximately $47 million. The company highlights that this "payback profile would be one of the fastest in recent history for a greenfield Australian oil and gas project and demonstrates the inherent value of Strike's conventional gas play in the Jurassic aged Sandstones within the Cattamarra Coal Measures."
Winsome Resources Ltd (ASX: WR1)
The Winsome Resources share price is up over 4% to $1.29. Investors have been buying this lithium explorer's shares following the release of a mineral resource estimate update for its flagship Adina Lithium Project in Canada. According to the release, the mineral resource has increased 33% to 77.9Mt at 1.15% Li2O. Management notes that this confirms Adina's positioning as one of the largest undeveloped lithium deposits in the world.
