The S&P/ASX 200 Index (ASX: XJO) is having a positive session on Wednesday. At the time of writing, the benchmark index is up 0.8% to 8,408.8 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are charging higher:
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Adriatic Metals (ASX: ADT)
The Adriatic Metals share price is up 24% to $4.66. This has been driven by the news that the company is in discussions with Dundee Precious Metals regarding a possible takeover offer. Adriatic Metals advised that to facilitate the discussions, it has agreed to provide Dundee with access to limited due diligence information. However, it has warned that the discussions remain ongoing and there can be no certainty that any firm offer will be made.
Catapult Group International Ltd (ASX: CAT)
The Catapult share price is up over 10% to $4.75. Investors have been scrambling to buy the sports technology company's shares following the release of its full year results. Catapult posted a 19% increase in revenue in constant currency to US$116.5 million (A$185 million) and an 18% lift in annual contract value (ACV) to US$101.2 million (A$161 million). This underpinned management EBITDA of US$14.8 million (A$24 million) for the 12 months. This is up by US$10.6 million or approximately 250% year on year.
Seek Ltd (ASX: SEK)
The Seek share price is up almost 7% to $23.64. This follows the release of an investor update this morning from the job listings giant. Seek revealed that FY 2025 revenue and earnings are likely to be at the top end of their guidance ranges. It said: "FY25 revenue, EBITDA and Adjusted Profit are likely to be in the top half of guidance ranges. In ANZ, the recent upgrade of our ad tiers will support low double digit yield growth in FY25 vs pcp. The decline in job ad volumes has continued to stabilise in recent months and this trend is expected to continue."
TechnologyOne Ltd (ASX: TNE)
The TechnologyOne share price is up a further 4% to $38.24. Investors have been buying the enterprise software provider's shares this week following the release of its half year results. TechnologyOne posted a 21% jump in annualised recurring revenue (ARR) to $511.1 million for the six months, which meant that it achieved its $500 million ARR target 18 months early. On the bottom line, TechnologyOne recorded a 33% increase in profit before tax to $81.9 million. This led to management upgrading its earnings guidance for the full year.
