The S&P/ASX 200 Index (ASX: XJO) is on form again on Wednesday and pushing higher. In afternoon trade, the benchmark index is up 0.4% to 8,437.7 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are jumping:
Bubs Australia Ltd (ASX: BUB)
The Bubs Australia share price is up 22% to 12 cents. Investors have been buying this infant formula company's shares following the release of a second quarter and first half update. Bubs reported group gross revenue of $32.9 million for the quarter, which is a 42% increase on the prior corresponding period. This led to the company posting positive EBITDA of $2.9 million for the first half. This is a solid turnaround from the $6.8 million EBITDA loss it recorded in the prior corresponding period. In light of this, management has reaffirmed its guidance for FY 2025. It continues to expect revenue of $102 million, a gross margin greater than 40%, and EBITDA breakeven.
Chrysos Corporation Ltd (ASX: C79)
The Chrysos Corporation share price is up 4% to $5.17. This follows the release of the mining technology company's second quarter update. Chrysos reported unaudited revenue of $15.3 million. This was up 12% quarter on quarter and 53% year on year to $15.3 million. Management advised that this was driven primarily by international revenue and sample volume growth. CEO Dirk Treasure said: "Our significant sales success continued into the second Quarter of FY25 with two new contracts signed, building on four new contracts in the first Quarter. This momentum reflects the ongoing market penetration of our PhotonAssay technology and the efficacy of our customer diversification strategy."
JB Hi-Fi Ltd (ASX: JBH)
The JB Hi-Fi share price is up 3.5% to $101.58. This appears to have been driven by a broker note out of Citi. According to the note, the broker has reaffirmed its buy rating on the retail giant's shares with an improved price target of $110.00 (from $85.00). Citi is feeling positive about household spending in FY 2025 and feels there is upside risk to consensus estimates for JB Hi-Fi.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is up 9% to $9.09. This follows the release of the uranium miner's quarterly update. Paladin Energy produced 638,409 pounds of uranium during the quarter, which was in line with management expectations. The company also revealed that it remains on track to meet its revised production guidance of 3.0 million to 3.6 million pounds of U3O8 in FY 2025. CEO Ian Purdy said: "We continue to de-risk the operation but recognise the LHM is still ramping up to full production and patience is required as our local team steadily achieves their goals."
