In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. At the time of writing, the benchmark index is down 0.45% to 7,202.5 points.
Four ASX shares that are not letting that stop them from rising today are listed below. Here's why they are racing higher:
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Life360 Inc (ASX: 360)
The Life360 share price is up 3.5% to $6.70. Investors have been buying this location technology company's shares after brokers responded positively to its first-quarter update. One of those was Bell Potter, which reiterated its buy rating with an improved price target of $9.00.
Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is up 4% to $1.42. This appears to have been driven by a positive broker note out of Ord Minnett. According to the note, the broker has upgraded this sports betting company's shares to a buy rating with a $1.70 price target. This follows news that the company is selling its US business to Fanatics Betting and Gaming for US$150 million.
Serko Ltd (ASX: SKO)
The Serko share price is up 29% to $2.73. This has been driven by the release of the travel technology company's full-year results. Serko reported a 154% increase in total income to NZ$48 million. Pleasingly, another strong year is expected in FY 2024, with management guiding to total income of NZ$63 million to NZ$70 million. This represents an increase of 31% to 46% year over year.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is up over 18% to $4.48. Investors have been buying this online furniture retailer's shares following the release of a trading update. Temple & Webster revealed that its sales were up 10% over the prior corresponding period during the last four weeks. This is a big improvement on recent sales trends.
