In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and dropping into the red. At the time of writing, the benchmark index is down 0.6% to 7,953.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising today:
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Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up over 5% to 8 cents. Investors have been buying the lithium miner's shares following the release of an update on its Finniss Lithium Operation. As a reminder, Core Lithium suspended mining at the Finniss Lithium Operation at the start of 2024 due to weak lithium prices. Today, the company revealed that it is getting closer to making a decision on whether to restart operations. This follows the exit of its last remaining operational contracts at the Finniss, completing the transition to full ownership of the site infrastructure. A decision is expected in the next few months.
Healius Ltd (ASX: HLS)
The Healius share price is up 10% to $1.44. This has been driven by the release of an investor day update from the pathology services provider. That update revealed that trading has been positive early in 2025. However, the big news getting investors excited is that the Healius board is planning to return $300 million to shareholders through a special dividend. If the sale of its Lumus business completes successfully, the company plans to pay a fully franked special dividend of 41.3 cents per share. Based on its current share price, this equates to a massive dividend yield of approximately 29%.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is up 1% to $12.04. This morning, this pharmaceuticals company announced the development of a new product. Neuren is initiating development on NNZ-2591 to treat hypoxic-ischemic encephalopathy (HIE). It is a devastating type of brain injury caused when a baby's brain does not receive enough oxygen or blood flow before or shortly after birth. There are many thousands of babies and children experiencing HIE every year and it is one of the leading causes of neonatal death and neurodevelopmental disability worldwide.
Reject Shop Ltd (ASX: TRS)
The Reject Shop share price is up 110% to $6.61. Investors have been scrambling to buy the discount retailer's shares today after it received and accepted a takeover offer. Canada's Dollarama Inc. (TSX: DOL) has tabled an offer of $6.68 cash per share for Reject Shop. This represents a 112% premium to its last closing share price of $3.15 per share and values the retailer's equity at approximately $259 million.
