In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 9,081.3 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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PWR Holdings Ltd (ASX: PWH)
The PWR share price is up 12% to $9.85. This follows the release of the advanced cooling technology company's half-year results. PWR reported a 27.8% increase in revenue to $80.4 million and a 38.6% lift in net profit after tax to $5.7 million. Management advised that this was driven by higher volumes across the Motorsports and Aerospace and Defence (A&D) market sectors. PWR's acting CEO, Matthew Bryson, said: "This result reflects strong revenue performance across Motorsports and Aerospace & Defence, together with the early operating leverage from our new, purpose-built Stapylton facility. The move to a significantly larger and more advanced manufacturing platform is a structural step-change for the business, positioning PWR to capture further growth in these key market sectors while strengthening our position in technically complex, niche advanced cooling markets."
QBE Insurance Group Ltd (ASX: QBE)
The QBE share price is up 8% to $21.71. This morning, QBE released its full-year results and reported gross written premium growth of 7% to US$23.96 billion and a 21% jump in net profit after tax to US$2.158 billion. QBE's CEO, Andrew Horton, said: "QBE delivered strong performance in 2025, exceeding our financial plan for the year. Profitability remains attractive across the majority of lines and the year ahead appears constructive for further growth, and a continuation of solid returns."
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price is up 9% to $9.94. Investors have been buying the radiopharmaceuticals company's shares following the release of its full-year results. Telix posted a 56% increase in revenue to US$803.8 million, which was in line with its upgraded guidance. And while Telix's adjusted EBITDA was down 41% to US$39.5 million, this is reflective of increased operating expenditure driven by strategic acquisitions, investment in commercial infrastructure, and research and development. Looking ahead, the company is guiding to revenue of US$950 million to US$970 million.
Zip Co Ltd (ASX: ZIP)
The Zip share price is up 2% to $1.89. This has been driven by news that the buy now pay later provider is launching a $50 million on-market share buyback. Zip's CEO and managing director, Cynthia Scott, said: "Today's announcement reflects Zip's disciplined and balanced approach to capital management. The Buy-Back program is consistent with our capital management framework and objective to maximise shareholder value. It demonstrates confidence in the strength of our balance sheet, and long-term strategy. We remain focused on investing in growth and driving sustainable profitability, while also returning surplus capital to shareholders where appropriate."
