Why Aristocrat, Arafura, Calix, and Strike Energy shares are charging higher

These ASX shares are avoiding the market selloff…

| More on:
Stock market chart in green with a rising arrow symbolising a rising share price.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a big decline. At the time of writing, the benchmark index is down 1.5% to 7,075.3 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:

Aristocrat Leisure Limited (ASX: ALL)

The Aristocrat share price is up 5.5% to $33.34. Investors have been buying this gaming technology company's shares after its half-year results impressed. Aristocrat reported a 23.1% increase in operating revenue to $2,745.4 million and a 40.9% increase in NPATA to $580.1 million. The latter was well ahead of the consensus estimate of $523 million. Another positive was that Aristocrat has announced a $500 million on-market share buyback.

Arafura Resources Limited (ASX: ARU)

The Arafura share price is up 16% to 40.5 cents. This follows news that the rare earth developer has signed a non-binding memorandum of understanding (MoU) with one of the world's largest automotive groups, Hyundai. The MoU provides a framework for the parties to negotiate a binding offtake agreement for the supply of up to approximately 1,000 to 1,500 tonnes per annum (tpa) of NdPr Oxide from the Nolans Project. The top end of the range represents over a third of its planned production.

Calix Ltd (ASX: CXL)

The Calix share price is up over 5% to $7.41. This morning the clean energy solutions company revealed that it will receive $11 million from the government's carbon capture, use, and storage (CCUS) hubs and technologies program to bring low emissions lime production to Adbri Ltd (ASX: ABC).

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is up 4% to 31.7 cents. Investors have been buying this energy company's shares after it announced the completion of its competitive fertiliser offtake process. This has seen the company sign a non-binding term sheet and exclusive negotiation period with Koch Fertilizer. Strike expects to produce 1.4 million tonnes per annum of granulated urea from its proposed Project Haber fertiliser development.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors were pulled back down to earth this Tuesday.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why EML Payments, Gentrack, Regis, and Resimac shares are racing higher

These shares are outperforming on Tuesday. What's going on?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors kicked off the trading week in style today.

Read more »

Person pointing at an increasing blue graph which represents a rising share price.
Share Gainers

Why Liberty, Lovisa, Novonix, and SG Fleet shares are storming higher today

These shares are starting the week strongly. But why? Let's find out.

Read more »

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another disappointing day for ASX investors this Thursday.

Read more »