The S&P/ASX 200 Index (ASX: XJO) is on course to record another small decline. In afternoon trade, the benchmark index is down 0.1% to 8,575.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
4DMedical Ltd (ASX: 4DX)
The 4DMedical share price is up 4.5% to $2.15. Investors have been buying the respiratory imaging technology company's shares after it entered into a commercial agreement with the University of Miami. This has seen the leading academic medical centre commence clinical use of 4DMedical's CT:VQ product under a structured launch framework. The CT:VQ solution is designed to set new benchmarks in cardiothoracic imaging by combining ventilation and perfusion analysis. 4DMedical's CEO and founder, Andreas Fouras, said: "I am very pleased to see CT:VQ deployed at the University of Miami. The immediate transition from strong RSNA engagement to commercial operations demonstrates the significant momentum we are seeing from clinicians seeking a contrast-free, high-resolution alternative to nuclear medicine VQ scans."
Megaport Ltd (ASX: MP1)
The Megaport share price is up 1.5% to $13.50. This may have been driven by a broker note out of Macquarie Group Ltd (ASX: MQG). This morning, the broker retained its outperform rating with an improved price target of $21.70. It said: "Top line is stabilised, Latitude adds a new growth driver in a fast-growing end market. Reinvestment in growth will drive further top-line acceleration out of FY26. Product roadmap suggests MP1 will move more into software with edge compute, driving higher long-term margins. Retain Outperform."
Meteoric Resources NL (ASX: MEI)
The Meteoric Resources share price is up 4.5% to 15.7 cents. This follows news that the rare earths developer has produced its first batch of mixed rare earth carbonate (MREC) from its recently constructed pilot plant for the Caldeira Rare Earth Project in Brazil. Meteoric Resources' managing director, Stuart Gale, said: "It's great to deliver our first batch of MREC from the Caldeira Project. The team have done an excellent job in the development of the Pilot Plant – from acquisition of key equipment, recruitment of operators, construction and commissioning. This now places Meteoric in a small group of global companies with the ability to independently and consistently produce MREC product."
Ramelius Resources Ltd (ASX: RMS)
The Ramelius Resources share price is up 6% to $3.59. This morning, this gold miner revealed that it plans to undertake a $250 million share buyback. Ramelius' managing director, Mark Zeptner, said: "At the time of the release of our 5-Year Growth Pathway to 500koz, the Ramelius Board gave clear direction to management that we need to "maintain and grow" shareholder returns. We are demonstrating this today in the form of a A$250 million share buyback program and an increase in the minimum dividend payable."
