In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 0.9% to 9,015.8 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
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Beetaloo Energy Australia Ltd (ASX: BTL)
The Beetaloo Energy share price is up 5% to 30 cents. This follows the release of the energy company's quarterly update. Management spoke positively about the quarter and also its outlook. It said: "The September Quarter marked a period of significant operational progress for Beetaloo Energy, highlighted by the successful fracture stimulation of the Carpentaria-5H well — the largest in Australian history, representing an important technical and operational milestone for the company and demonstrating the growing capability and scalability of our Beetaloo operations."
Pinnacle Investment Management Group Ltd (ASX: PNI)
The Pinnacle Investment Management share price is up almost 4% to $20.42. This morning, this investment management company announced that it has reached an agreement to acquire a strategic interest in Advantage Partners. It is the largest independent, diversified private markets platform in Japan. Pinnacle has agreed to acquire up to 13% of Advantage Partners over a three-year period. It will start with an initial 5% stake for $92 million and has an option over a further 8% at a similar valuation. Pinnacle's managing director, Ian Macoun, said: "We have made great progress in exporting our unique multi-affiliate model globally. This transaction underscores our ability to partner with world-class teams with unique platforms in highly attractive asset classes and geographies."
Sigma Healthcare Ltd (ASX: SIG)
The Sigma Healthcare share price is up 1.5% to $3.09. This morning, the Chemist Warehouse owner released a trading update ahead of its annual general meeting. Management revealed that first quarter trading remained strong, with Chemist Warehouse Network sales up 17.9% and like-for-like sales up 14.7%. It also notes that it is entering the Christmas period with strong momentum and a focus on executing integration initiatives.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside Energy share price is up 4% to $23.35. This has been driven by the release of the energy giant's third quarter update. Woodside reported a 3% increase in quarterly revenue to $3.359 billion and a 1% rise in production to 50.8 MMboe. In addition, management upgraded its full-year production guidance to 192 MMboe to 197 MMboe following strong output across key assets.
