The S&P/ASX 200 Index (ASX: XJO) is having a positive start to the week. At the time of writing, the benchmark index is up 0.2% to 8,267.9 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Block Inc (ASX: SQ2)
The Block Inc share price is up 5% to $147.50. This follows a strong night of trade for the payments giant's US listed shares on the New York Stock Exchange on Friday. The possible driver of this gain was news that analysts at Raymond James have upgraded the company's US shares to an outperform rating with a US$115 price target. This compares to its current share price of US$92.16. The broker is confident in Block's growth trajectory and expects double-digit GPV growth in 2025.
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 4% to 79 cents. Investors have been buying this counterdrone technology company's shares after it announced new contract win from South America. DroneShield revealed that the contract is worth $9.7 million and is to be delivered to a military end customer in the region. The order is for a combination of dismounted, mobile, and fixed-site counterdrone systems (C-UxS). The contract was secured by the company's reseller in the region. It notes that this reseller is one of the leading integrators and resellers of advanced technological solutions in its country, with over 19 years of sales and having successfully executed more than 165 defence-related contracts.
EBR Systems Inc (ASX: EBR)
The EBR Systems share price is up 7% to $1.46. This has been driven by the release of an update from the medical device company this morning. EBR Systems revealed that the U.S. Food and Drug Administration (FDA) has scheduled the manufacturing Pre-Approval Inspection (PAI) for its wireless cardiac pacing device for heart failure to commence on 14 January. While the PAI was previously expected to start this week, management notes that it does not affect the expected FDA regulatory approval timing. This remains on track for the first quarter, with commercial launch later in the year.
Insignia Financial Ltd (ASX: IFL)
The Insignia Financial share price is up 13% to $3.99. This morning, this financial services company revealed that it has received a confidential, non-binding, and indicative proposal from CC Capital Partners. It offered $4.30 cash per share, which represents a 21.4% premium to its last close price. It is also a 7.5% premium to an offer from Bain Capital that was rejected by the Insignia Financial last month.
