The S&P/ASX 200 Index (ASX: XJO) is out of form and on course to record a decline. At the time of writing, the benchmark index is down 0.4% to 8,811.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Austal Ltd (ASX: ASB)
The Austal share price is up over 3% to $8.00. This follows news that the shipbuilder has reached an agreement with the United States Navy to resolve its Request for Equitable Adjustment (REA). This is in relation to the Towing, Salvage, and Rescue Ship (T-ATS) program under construction at Austal's Alabama shipyard in the USA. Austal revealed that the pause on construction of T-ATS 14 and T-ATS 15 will become permanent, and the construction contract is now limited to three vessels with only limited alteration on the overall original contract value.
Bravura Solutions Ltd (ASX: BVS)
The Bravura Solutions share price is up 19% to $3.01. This has been driven by the release of a guidance update from the wealth management software solutions provider this morning. Bravura now expects FY 2026 revenue to be between $265 million and $275 million. This is ahead of its previous guidance for revenue in line with last year's result of $256.8 million. As a result, cash EBITDA is now expected to be between $55 million and $65 million, which is ahead of its previous guidance of $50 million. This has been driven by continued strength in the British pound, higher levels of project revenue, and its continued focus on operational efficiency.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up a further 15% to $5.38. Investors have been fighting to get hold of the counter drone technology company's shares this week after the European Union's Defence Commissioner revealed that the bloc will build a drone wall along the eastern flank, integrating detection, tracking and interception to counter hostile UAVs. The European Union is making the move after recent airspace violations. Investors appear to believe that DroneShield could be positioned to benefit greatly from the plans.
Westgold Resources Ltd (ASX: WGX)
The Westgold Resources share price is up 11% to $4.97. This follows the release of the gold miner's three-year outlook this morning. Westgold is guiding to production of 365k ounces in FY 2026, 420k ounces in FY 2027, and 470k ounces in FY 2028. In addition, its all-in sustaining costs (AISC) are expected to come down to A$2,499 per ounce by the end of the period. This compares to production of 326k ounces at an AISC of A$2,666 per ounce in FY 2025.
