In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and storming higher. At the time of writing, the benchmark index is up 0.7% to 7,260.2 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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CSL Limited (ASX: CSL)
The CSL share price has jumped 7.5% to $261.14. This follows the release of the biotherapeutics company's half year results. CSL reported a 5.3% increase in revenue to US$6,041 million but a 5% constant currency decline in net profit after tax to US$1,722 million. However, an upgrade to its guidance for FY 2022 has gone down well with the market.
Liontown Resources Limited (ASX: LTR)
The Liontown share price has rocketed 18% higher to $1.64. Investors have been buying this lithium developer's shares after it announced a five-year deal with Tesla. The auto giant has agreed to purchase 100,000 dry metric tonnes (dmt) lithium spodumene concentrate in year one and then 150,000 dmt per annum in the following four years from the Kathleen Valley Lithium Project in Western Australia.
Nearmap Ltd (ASX: NEA)
The Nearmap share price is up 6% to $1.30. Thanks largely to strong growth in North America, this aerial imagery technology company reported a 28% increase in annual contract value (ACV) to $147.7 million during the first half. This led to Nearmap revealing that it now expects to hit the top end of its FY 2022 ACV guidance.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price has jumped 12% to $11.81. This follows the release of the wine giant's half year results. While Treasury Wine reported a 10.1% decline in net sales revenue to $1,267 million and a 6.7% decline in EBITS to $262.4 million, management spoke positively about the future. It has advised that the company is now shifting its focus from "recovery and restructuring" to one of "growth and innovation."
