After a soft start, S&P/ASX 200 Index (ASX: XJO) is pushing higher in afternoon trade. At the time of writing, the benchmark index is up 0.45% to 7,716.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Arcadium Lithium (ASX: LTM)
The Arcadium Lithium share price is up 6% to $4.25. This follows the release of the lithium miner's second quarter update. Arcadium Lithium reported a 55% decline in revenue to US$255 million and a 69.9% decline in adjusted EBITDA to US$99.1 million. This was driven by a sharp drop in lithium prices, which offset higher sales volumes. And while this looks weak on paper, it was ahead of the market's expectations. In addition, Arcadium Lithium announced plans to pause its production expansion plans in response to an oversupply of the battery making ingredient.
DUG Technology Ltd (ASX: DUG)
The DUG Technology share price is up almost 3% to $2.69. This morning, this analytical software developer announced the signing of an exclusive DUG Cool licensing agreement with Baltimore Aircoil Company (BAC). According to the release, the agreement grants BAC an exclusive and worldwide licence to use DUG's patent rights and know-how regarding DUG Cool. It is the company's immersion-cooling technology. The licence includes the right to use, manufacture, market and sell the licensed IP and will be used by BAC to manufacture and sell immersion cooling tanks. DUG will earn 2.5% of net sales of BAC's immersion cooling tanks utilising DUG's patent rights.
GQG Partners Inc (ASX: GQG)
The GQG Partners share price is up 2.5% to $2.66. Investors have been buying the fund manager's shares on Wednesday after it released its latest funds under management (FUM) update. GQG Partners revealed that its FUM increased almost 0.5% month on month to US$156.3 billion at the end of last month. As of 31 July, the company had experienced net inflows for the year to date period of US$13.9 billion.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside Energy share price is up 2% to $25.60. This appears to have been driven by bargain hunters swooping in after a sharp decline on Tuesday. That decline was driven by news that Woodside is making another major acquisition. Analysts aren't keen on the deal and believe Woodside should be waiting for a more favourable point in the cycle. There are also concerns that the company's dividends could come under pressure.
