The S&P/ASX 200 Index (ASX: XJO) is ending the week on a positive note. In afternoon trade, the benchmark index is up 0.4% to 8,238.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are jumping:
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Aussie Broadband Ltd (ASX: ABB)
The Aussie Broadband share price is up 3.5% to $3.91. This follows the release of the broadband provider's quarterly update this morning. Aussie Broadband reported a 3.2% increase in broadband connections to 706,418 for the period. This has led to its NBN market share growing to 7.6% from 7.38% just three months ago. The company also revealed that it has entered into a partnership with Red Energy. This allows Red Energy and its affiliated company, Direct Connect, to sell broadband and energy products to their customers for the first time.
HMC Capital Ltd (ASX: HMC)
The HMC Capital share price is up 9% to $10.05. Investors have been buying this alternative asset manager's shares following the completion of a fully underwritten $300 million institutional placement. HMC Capital raised the funds at a 5% discount of $8.75 per new share. The proceeds from the placement will be used to underwrite the acquisition of data centre company Global Switch Australia, as a seed asset for its Global DigiCo Platform. Management revealed that the placement attracted strong demand from existing institutional shareholders and new institutional investors.
ResMed Inc. (ASX: RMD)
The ResMed share price is up over 5% to $37.56. This has been driven by the release of the sleep disorder treatment company's first quarter update. ResMed reported an 11% increase in revenue to US$1,224.5 million and a 42% jump in net income to US$311.4 million for the quarter. ResMed's CEO, Mick Farrell, said: "Our first-quarter fiscal year 2025 results reflect ongoing momentum and strong execution across all areas of our business. We delivered 11% year-over-year revenue growth, and our focus on operational excellence resulted in another quarter of year-over-year margin expansion and a 34% increase in operating profit."
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price is up 14% to $113.52. Investors have been buying the logistics solutions company's shares after its embattled CEO, Richard White, stepped back from the role with immediate effect. However, after a short period of leave, he will commence a new full-time, long-term consulting role, focused on product and business development. The market appears to see this as a good compromise.
