The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and is sinking on Friday. At the time of writing, the benchmark index is down 0.95% to 8,081.6 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is up 2% to 80.75 cents. This may have been driven by a broker note out of Bell Potter. This morning the broker retained its hold rating but lifted its price target to 80 cents. It commented: "PointsBet released its Appendix 4C for 1QFY25 and, in short, it was a good quarter. The key highlights were: Turnover/handle up 3% to $626.8m; Net win (excl. iGaming) up 10% to $60.7m."
Qantas Airways Limited (ASX: QAN)
The Qantas share price is up 1% to $8.17. This is despite there being no news out of the airline operator on Friday. Though, it is worth noting that a number of travel shares are rising today. It is possible that with all their quarterly updates out of the way now, investors are piling into this side of the market once again. Following today's gain, the Qantas share price is now up an impressive 13% in a month and 64% since this time last year.
Serko Ltd (ASX: SKO)
The Serko share price is up a further 4% to $3.22. Investors have been buying this travel technology company's shares this week after it released its half year results. Serko reported an 18% increase in total income to NZ$42.7 million for the six months. And while it still recorded a net loss of NZ$5.1 million, this was a NZ$2.1 million improvement year on year. In addition, the company revealed that it is expanding its existing business in North America. This includes through a long-term partnership with global travel software and technology provider Sabre Corporation (NASDAQ: SABR). Part of the agreement will see Serko acquire Sabre's business travel management solution, GetThere. This will make it the number two online booking tool provider in North America.
Yandal Resources Ltd (ASX: YRL)
The Yandal Resources share price is up 7% to 31 cents. This morning, this gold explorer revealed that it is commencing follow up drilling at the emerging Siona gold discovery. Management advised that the 12-hole, 2,500 metre reverse circulation program will look to confirm the geometry and test the extent of mineralisation. Managing Director, Chris Oorschot, said: "With the Company in a strong cash position, the team is now focused on developing the Siona geology model as drilling progresses and delivering high-quality samples to the lab as efficiently as possible."
