The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and dropped into the red. In afternoon trade, the benchmark index is down 1.15% to 8,504.4 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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Catapult Sports Ltd (ASX: CAT)
The Catapult Sports share price is up 10% to $3.17. Investors have been buying the sports technology company's shares today following the release of its FY 2026 results. Catapult delivered a result ahead of expectations across key metrics. For example, Bell Potter was forecasting management EBITDA of US$23 million, while noting consensus appeared to be closer to US$22.4 million. Catapult outperformed both with a 67% increase in management EBITDA to US$24.7 million. This was driven by a 28% increase in annualised contract value to US$133.8 million and an expanding contribution margin.
GenusPlus Group Ltd (ASX: GNP)
The GenusPlus share price is up 3% to $10.06. This follows the completion of the essential power and communications infrastructure provider's $200 million placement. GenusPlus raised the funds at a 5% discount of $9.25 per new share. The proceeds will be used to partly fund the transformational and highly accretive acquisition of MPC Kinetic. It is a leading provider of gas gathering and well maintenance services to tier one customers in the Queensland onshore gas sector, as well as construction services for renewable energy and major pipeline projects in Australia. Genus' managing director, David Riches, said: "I am very excited to announce the signing of this transformational transaction after a period of exclusive bilateral engagement with the vendors of MPK. The acquisition of MPK will be transformational for Genus."
Meeka Metals Ltd (ASX: MEK)
The Meeka Metals share price is up 4% to 12 cents. This follows the release of positive drilling results from the gold miner. Meeka Metals revealed that its first pass exploration drilling continues to hit gold at Rosapenna within the Fairway shear zone at the Murchison Gold Project. Meeka's managing director, Tim Davidson, said: "The strong gold results in this broad spaced, first pass exploration drilling highlights the broader growth opportunity available to us within a highly fertile but until now underexplored ~25km long belt of Archean greenstones."
TechnologyOne Ltd (ASX: TNE)
The TechnologyOne share price is up almost 8% to $29.99. Investors have been buying the enterprise software provider's shares on Wednesday after brokers responded positively to yesterday's half-year results. One of those is Bell Potter, which has retained its buy rating and $32.25 price target on its shares. It said: "There is perhaps a lack of short term catalysts for the stock but we believe the stock should continue to perform well given it is in our view the best positioned tech stock on the ASX to benefit from rather than be disrupted by AI. We also see very little if any downside risk to the guidance given the high level of SaaS and recurring revenue (c.93% of total revenue in H1), good visibility and strong pipeline."
