The S&P/ASX 200 Index (ASX: XJO) appears to have run out of gas on Thursday after its strong run. In afternoon trade, the benchmark index is down 0.2% to 8,824.6 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up a further 15% to $4.99. Investors have been fighting to get hold of the defence and space company's shares this week following the announcement of a major contract win. In response to the update, Bell Potter retained its buy rating and lifted its price target to $5.00. It said: "The award of the HELW contract gives EOS a first mover advantage in a new counterUAS vertical and presents potential investors with a new angle to gain leverage to the emerging drone warfare thematic. We continue to anticipate material contract awards in 2H25, including Land400."
Eroad Ltd (ASX: ERD)
The Eroad share price is up 28% to $1.84. This may have been driven by news that New Zealand's Transport Minister, Chris Bishop, has unveiled the Government's plan to transition all New Zealand vehicles to electronic Road User Charging (eRUC). The fleet tracking company's co-CEO, Mark Heine, said: "As New Zealand transitions away from fuel excise taxes, eRUC offers a future-ready and proven solution that reflects how we actually use our roads. It's a system that's not only more equitable, but also more efficient and better aligned with our climate and infrastructure goals. We applaud Minister Bishop for taking a step towards modernising how New Zealand funds its transport infrastructure." Eroad has already played a key role bringing eRUC to New Zealand.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is up 4% to $17.69. This morning, the pharmaceuticals company released an update on sales of its Daybue product. Neuren revealed that second quarter Daybue net sales were US$96.1 million, up 14% from both the prior corresponding period and the first quarter. It also highlights that a record number of patients in the US received shipments, growing for third consecutive quarter. In light of this, the company earned A$14.7 million in royalty income for the three months.
Westgold Resources Ltd (ASX: WGX)
The Westgold Resources share price is up almost 6% to $2.92. This follows the release of the gold miner's guidance for FY 2026. Westgold is guiding to production of 345k ounces to 385k ounces for the year. This represents a 5.7% to 18% increase on FY 2025's production. This is expected to be achieved with an all-in sustaining cost (AISC) of $2,600 to $2,900 per ounce. This compares to its AISC of $2,666 per ounce in FY 2025.
