The S&P/ASX 200 Index (ASX: XJO) has fought back from a soft start and is edging higher. At the time of writing, the benchmark index is up 0.15% to 8,592.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Abacus Storage King (ASX: ASK)
The Abacus Storage King share price is up almost 6% to $1.56. This has been driven by news that the self-storage operator has received an improved takeover offer from the Ki Corporation and Public Storage (NYSE: PSA) consortium. A revised non-binding and indicative proposal of $1.65 cash per share has been tabled. This represents a 15% increase on its initial proposal. The company also notes that the offer would not be subject to a deduction for any declared ordinary course distributions.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up over 5% to $2.92. This morning, this high-flying counter drone technology company announced a major increase to its research and development capabilities. DroneShield will make a $13 million+ initial investment via a multi-year lease and fitout commitment into a brand new 3,000sqm production facility in Sydney's Alexandria. DroneShield's CEO, Oleg Vornik, said: "In response to rising threats and multiple wars taking place across the globe, Australia's allies are increasing investment in modern defence capabilities. We are stepping up to meet this demand by investing in state-of-the-art facilities here and abroad, and in sovereign Australian skills development to provide the most modern and effective counterdrone capabilities in the world. Our new facility in Alexandria will epitomise the value Australian engineering can bring to a changing geopolitical landscape."
Hansen Technologies Ltd (ASX: HSN)
The Hansen Technologies share price is up 12% to $5.34. This software company's shares are taking off today after it upgraded its earnings guidance for FY 2025. According to the release, thanks to a quicker than expected turnaround in the Powercloud business, as well as improved operating efficiencies and disciplined cost management, underlying EBITDA is forecast to be between $110 million and $112 million for the year. This is up from its previous guidance range of $92 million to $101 million.
Macquarie Technology Group Ltd (ASX: MAQ)
The Macquarie Technology share price is up 8% to $66.72. The catalyst for this has been news that the technology company has entered into a put and call option with a large, long established property investment and development company based in Sydney to purchase a large parcel of land for a new data centre campus. If everything goes to plan, Macquarie Technology intends to construct a new Sydney data centre campus in stages that is expected to deliver more than 150 MW of IT load.
