In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up 0.1% to 7,129 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
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Altium Limited (ASX: ALU)
The Altium share price is up 4% to $38.02. This follows the release of the electronic design software company's annual general meeting update. At the event, Altium reaffirmed its guidance for FY 2023. Management said: "We expect total revenue to be between $255 and $265 million USD, with both our PCB software business and cloud platform business growing nicely. And, we expect underlying EBITDA margin to be between 35 and 37% for the full year in FY23."
Pendal Group Ltd (ASX: PDL)
The Pendal share price is up 10% to $4.91. This follows news that the courts are pressuring Perpetual Limited (ASX: PPT) to complete its acquisition of the rival fund manager. Perpetual's shares have sunk on the news. This is because this action is likely to scupper its own potential takeover by a consortium comprising BPEA Private Equity Fund VIII and Regal Partners.
Terracom Ltd (ASX: TER)
The Terracom share price is up 8% to 90.5 cents. This morning this coal miner announced that its board has declared a fully franked dividend of 10 cents per fully paid ordinary share for the quarter ended 30 September. This comprises an ordinary dividend of 7.5 cents per share and a special dividend of 2.5 cents per share.
Webjet Limited (ASX: WEB)
The Webjet share price is up 11% to $6.24. Investors have been buying this online travel agent's shares following the release of a strong first half update. Webjet reported a 223% increase in TTV to $2,143 million and a 217% jump in revenue to $175.7 million. On the bottom line, the company delivered an underlying net profit after tax of $32 million, up from a loss of $29.2 million a year earlier.
