The S&P/ASX 200 Index (ASX: XJO) is having another poor session on Wednesday. In afternoon trade, the benchmark index is down 0.3% to 8,225.8 points.
Four ASX shares that haven't let that stop them from rising today are listed below. Here's why they are climbing:
Bapcor Ltd (ASX: BAP)
The Bapcor share price is up 15% to $5.15. Investors have been buying this auto parts retailer's shares following the release of its half year results. Although its results were not amazing on paper, investors appear pleased with its cost reduction plans. Bapcor CEO Angus McKay said: "We expect to deliver cost savings towards the top end of our $20-30M target range in FY25 which will be second half weighted. We have been highly disciplined in how we manage working capital and our strong cash conversion has meant we were able to pay down debt, while investing to grow our Trade network and make significant strategic improvements in IT."
Light & Wonder Inc (ASX: LNW)
The Light & Wonder share price is up 7% to $169.21. This follows the release of the gaming company's FY 2024 results. Light & Wonder reported a 10% increase in revenue to a record of $3.2 billion and a 110% jump in net income to $336 million. CEO Matt Wilson, said: "We ended a strong 2024 with continued double-digit revenue and earnings growth for the year. The Gaming machine sales share gains in North America and Australia this year are a testament to our R&D investment, commercial strategy and robust product roadmap. Furthermore, we have also realigned studio needs, adding more talent and expanding existing studios." The company is guiding to low double-digit income growth in the first quarter of FY 2025.
Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is up 31% to $1.09. Investors have been fighting to get hold of this sports betting company's shares after it accepted a takeover offer from Japan-based consumer technology company, MIXI. Pointsbet has agreed to a deal of $1.06 per share, which values it at $353 million. But the story may not end there. Bluebet Holdings Ltd (ASX: BBT) revealed that it also wants to acquire Pointsbet, which has sparked hopes that a bidding war could break out.
Worley Ltd (ASX: WOR)
The Worley share price is up almost 11% to $15.51. This has been driven by the release of the engineering company's half year results. Worley reported a 6.8% increase in revenue to $5.99 billion and a 14.9% increase in underlying NPATA to $216 million. Looking ahead, the company is targeting low double-digit EBITA growth in FY 2025.
