The S&P/ASX 200 Index (ASX: XJO) is having a relatively positive start to the week. In afternoon trade, the benchmark index is up 0.2% to 8,935.8 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
Image source: Getty Images
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price is up 4.5% to $8.90. Investors have been buying this infant formula company's shares following the release of its half-year results. A2 Milk delivered a strong first-half performance and upgraded its guidance for FY 2026. With respect to the latter, management now expects revenue growth in the mid double-digit percentage range (from low double-digits) compared to FY 2025 continuing operations. A2 Milk's managing director and CEO, David Bortolussi, said: "Our upgraded outlook means we are now on track to achieve our $2 billion medium term sales ambition in FY26, a full year ahead of plan. This is testament to the execution of our team and the strength of the a2 brand."
Aurizon Holdings Ltd (ASX: AZJ)
The Aurizon Holdings share price is up 6% to $3.81. This has been driven by the release of the rail freight operator's half-year results this morning. Aurizon reported a 16% increase in net profit after tax to $237 million. This allowed the company to increase its 90%-franked interim dividend by 36% to 12.5 cents per share. Aurizon's managing director and CEO, Andrew Harding, said: "Today's results underscore the strength of Aurizon's two largest business units, Network and Coal and the continued growth of Bulk and Containerised Freight."
JB Hi-Fi Ltd (ASX: JBH)
The JB Hi-Fi share price is up almost 7% to $81.81. The catalyst for this has been the release of the retail giant's half-year results. JB Hi-Fi revealed a 7.3% increase in total sales to $6.1 billion and a 7.1% lift in net profit after tax to $305.8 million. Management advised that its focus on value supported its performance. JB Hi-Fi's CEO, Nick Wells, said: "We are pleased to report record sales and strong earnings for HY26, as we built on the momentum of the previous year. In a retail environment where customers are seeking value, our brands continue to resonate strongly and our teams continue to execute to a high standard."
Magnetic Resources NL (ASX: MAU)
The Magnetic Resources share price is up 27% to $2.03. This follows news that the gold explorer has received and accepted a takeover offer from Genesis Minerals Ltd (ASX: GMD). Magnetic shareholders will receive $1.40 cash and 0.0873 new Genesis shares for every share they own. This implies a value of $2.00 per share and values Magnetic Resources at ~$639 million. Genesis executive chair, Raleigh Finlayson, said: "This transaction creates substantial value for both groups of shareholders, delivering genuine synergies while combining the right assets with the right people. Magnetic's Lady Julie Gold Project will add more than 2Moz at an attractive high grade to Genesis' Laverton inventory, further bolstering the mine life and production outlook."
