The S&P/ASX 200 Index (ASX: XJO) has fought back from its intraday lows but remains on course to record a small decline. In afternoon trade, the benchmark index is down 0.2% to 6,984.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are storming higher:
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Deep Yellow Limited (ASX: DYL)
The Deep Yellow share price has continued its stellar run and is up a further 11% to $1.17. Investors have been buying this uranium developer's shares this week after the uranium price surged higher. Traders have been bidding the chemical element higher amid reports that a number of governments are looking at nuclear power options. The Deep Yellow share price is now up 38% since this time last week.
Nitro Software Ltd (ASX: NTO)
The Nitro share price has rocketed 39% higher to $1.57. This follows news that the document productivity software company has received and rejected a takeover approach from a consortium led by Potentia Capital. Management stated that the offer was "highly opportunistic and comes at a time of significant share market volatility and cyclical weakness in global technology company valuations."
Tyro Payments Ltd (ASX: TYR)
The Tyro share price is up 10% to $1.20. This morning the team at Morgans responded positively to the payments company's full year results from yesterday. Morgans has retained its add rating and lifted its price target to $1.70. It highlights that Tyro's earnings and guidance were ahead of expectations.
Webjet Limited (ASX: WEB)
The Webjet share price is up almost 9% to $5.55. Investors have been buying this online travel agent's shares after it released a trading update at its annual general meeting. Management revealed that it has started FY 2023 strongly. All businesses have been profitable and it expects to generate cash flow from operations of greater than $100 million during the first half of FY 2023.
