In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.55% to 8,339.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Image source: Getty Images
Breville Group Ltd (ASX: BRG)
The Breville share price is up over 2% to $29.64. This may have been driven by a broker note out of Morgan Stanley this morning. The broker remains very positive on the appliance manufacturer's long term outlook but acknowledges that the short term could face headwinds from tariffs and softening consumer spending in the United States. Nevertheless, its sees value in its shares and has put an overweight rating and $36.50 price target on them.
Clarity Pharmaceuticals Ltd (ASX: CU6)
The Clarity Pharmaceuticals share price is up 1.5% to $2.22. This morning, the pharmaceuticals company announced the commencement of the Amplify phase 3 trial. It is a study of 64Cu-SAR-bisPSMA Positron Emission Tomography with biochemical recurrence of prostate cancer. Executive chair, Dr Alan Taylor, commented: "We are very excited to commence our second registrational Phase III trial with the optimised SAR-bisPSMA agent in patients that are experiencing the return of their disease following treatment of the primary cancer."
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up a further 8% to $1.60. Investors have been buying this defence and space systems company's shares this week after it announced a major counter-drone contract. EOS revealed that it has secured a new order worth 31 million euros (A$53 million) from a European naval systems integration business. It is for its flagship "Slinger" Counter-Drone Remote Weapon System (RWS). Ord Minnett responded to the news by retaining its buy rating and $1.80 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
The TechnologyOne share price is up 12% to $37.03. The catalyst for this has been the release of the enterprise software provider's half year results. TechnologyOne reported a 21% jump in annualised recurring revenue (ARR) to $511.1 million for the six months. This meant that the company has achieved its $500 million ARR target 18 months ahead of target. And with its expenses growing at a slower rate, TechnologyOne posted a 33% increase in profit before tax to $81.9 million. And the icing on the cake was management upgrading its earnings guidance for the full year.
