The S&P/ASX 200 Index (ASX: XJO) is having another solid session on Tuesday. In afternoon trade, the benchmark index is up 0.7% to 8,308.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price is up 2% to $1.82. Investors have been buying this baby products retailer's shares following the release of a first quarter trading update. Baby Bunting revealed that its gross profit margin increased to 40.3% for the quarter, which is up 240 basis points on the prior corresponding period. This means that it is on track to deliver on its FY 2025 margin target. In light of this, management has maintained its FY 2025 earnings guidance. It expects pro forma net profit after tax to be in the range of $9.5 million to $12.5 million.
Hub24 Ltd (ASX: HUB)
The Hub24 share price is up 3% to a record high of $65.26. This follows the release of the investment platform provider's first quarter update. For the three months, Hub24 reported record quarterly platform net inflows of $4 billion. This took its Platform FUA to $91.6 billion at the end of September, which represents growth of 8% over the previous quarter and 41% on the prior corresponding period. This reflects its record quarterly net inflows of $4 billion and positive market movements of $3.1 billion. There were no large migrations during the quarter.
Lotus Resources Ltd (ASX: LOT)
The Lotus Resources share price is up 5.5% to 28.5 cents. This may have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has retained its speculative buy rating and 50 cents price target on the uranium developer's shares. It said: "We make no changes to our valuation of $0.50/sh in this note and maintain a Speculative Buy recommendation. We see positive catalysts at Kayelekera Mine primarily being production offtake, which in turn supports project financing. LOT is highly leveraged to the uranium price, which we continue to remain constructive on over the short to medium term."
Wildcat Resources Ltd (ASX: WC8)
The Wildcat Resources share price is up 4% to 37.5 cents. Investors have been buying this lithium explorer's shares following the release of its quarterly update. The company had a busy quarter, ticking a number of items off its extensive to do list. This includes identifying new high-grade zones at its Chewy North and Han pegmatite bodies within Tabba Tabba Lithium Project in Western Australia. In addition, it notes that much of the long-lead-time study work to progress Tabba Tabba, such as geotechnical drilling, water bore drilling, and groundwater tests, is now complete.
