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 0.75% to 8,828.4 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's Pizza share price is up 3.5% to $19.02. This pizza chain operator's shares have been storming higher in recent sessions amid takeover speculation. There were reports that Bain Capital had tabled an offer that values the company at $4 billion. And while Domino's advised that it hadn't received an approach, some investors appear to believe there's no smoke without fire.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 5% to $4.03. On Monday, this counter drone technology company announced another contract win. DroneShield revealed that it received a $25.3 million contract from a privately owned in-country reseller that is contractually required to distribute the products to a Government defence end customer in a Latin American (LATAM) country. In response to the news, this morning Bell Potter reiterated its buy rating and $5.30 price target on its shares. It said: "We expect 2026 will be an inflection point for the global counter-drone industry with countries poised to unleash a wave of spending on soft-kill detect and defeat solutions. Consequently, we believe DRO should see material contracts flowing from its $2,550m potential sales pipeline over the next 3-6 months as defence budgets roll over to FY26."
Imricor Medical Systems Inc (ASX: IMR)
The Imricor Medical Systems share price is up 11% to $1.52. This morning, this medical device company announced the successful completion of the first ischemic ventricular tachycardia (VT) ablation ever performed under real-time MRI guidance in an iCMR lab. The company stated: " This milestone marks a critical step forward for Imricor's VISABL-VT clinical trial, and a watershed moment for the field of MRI-guided electrophysiology."
Pepper Money Ltd (ASX: PPM)
The Pepper Money share price is up a further 6.5% to $2.54. Investors have been buying this non-bank lender's shares this week after it signed an agreement to acquire the RAMS portfolio from Westpac Banking Corp (ASX: WBC). The portfolio comprises approximately $21.4 billion in residential mortgages. Management highlights that the "transaction aligns with Pepper Money's strategy to grow its capital-light servicing business, which provides annuity-style earnings, operational scale and diversification benefits."
