In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up slightly to 8,848.8 points.
Four ASX shares that are rising more than most are listed below. Here's why they are storming higher:
JB Hi-Fi Ltd (ASX: JBH)
The JB Hi-Fi share price is up 6% to $114.38. Investors have been buying the retailer's shares after they were sold off on Monday following the release of its full year results. The team at Bell Potter responded positively to the result, reaffirming its buy rating on JB Hi-Fi's shares with an improved price target of $119.00. The broker said: "We retain our view of JBH as one of the most productive retailers globally with leading unit economics (JBH Aus) while also well placed to benefit from the replacement & upgrade cycle of computing & telco devices driven by AI capability/end of useful life. As today's share price correction sees the stock trading at ~24x FY26e P/E (BPe), we see valuation support considering the catalysts of operating leverage in the key parts of the business from FY26e onwards. Retain BUY."
Life360 Inc (ASX: 360)
The Life360 share price is up 8% to $40.89. This follows the release of the location technology company's second quarter update. Life360 posted a 36% increase in revenue to US$115.4 million and a 36% jump in annualised monthly revenue to US$416.1 million. This was driven by a 25% lift in monthly active users to 88 million and 2.5 million paying circles. In light of this strong performance, Life360 upgraded its revenue and adjusted EBITDA guidance for the full year. Its newly appointed CEO, Laren Antonoff, said: "We're seeing the rise of what we call the Anxiety Economy—a shift where families are making more values-based decisions and prioritizing peace of mind in how they spend. That's driving sustained demand for services like ours that help people feel safer, more connected, and in control."
Star Entertainment Group Ltd (ASX: SGR)
The Star Entertainment share price is up 29% to 11.5 cents. This morning, the casino and resorts operator announced that it has entered into binding long-form documentation with Chow Tai Fook Enterprises for a $53 million deal. This is in relation to DBC (the owner of the Queen's Wharf Brisbane Integrated Resort), DGCC (the owner of the Gold Coast joint venture assets), and other assets in Brisbane that are owned or partially owned by The Star.
Tuas Ltd (ASX: TUA)
The Tuas share price is up 29% to $7.13. This morning, this Singapore based telco announced the completion of a $385 million institutional placement. These funds were raised at $5.51 per new share. Tuas is raising funds after signing an agreement to acquire 100% of M1 Limited for an enterprise value of S$1,430 million on a debt-free and cash-free basis. M1 Limited is a Singaporean digital network operator that provides a range of communication services to both retail and enterprise customers. It primarily generates revenue through mobile services, fixed services and handset and equipment sales.
