The S&P/ASX 200 Index (ASX: XJO) is out of form and tumbling into the red on Monday. In afternoon trade, the benchmark index is down 0.6% to 8,503.5 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
Image source: Getty Images
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price is up 19% to $7.08. Investors have been buying the infant formula company's shares following the release of its half year results. A2 Milk delivered a result largely in line with expectations and announced its first ever dividend. That will see the company pay a fully franked dividend of 8.5 NZ cents per share. Looking ahead, management has upgraded both its revenue and EBITDA margin guidance. It now expects revenue growth of low to mid double-digit growth (from mid to high single-digit growth) with an EBITDA margin slightly up year on year (from being broadly in line).
Audinate Group Ltd (ASX: AD8)
The Audinate share price is up 31% to $9.92. This morning, this audio-visual media networking solution provider released its half year results. While the result was very poor on paper, investors appear to believe that the worst could be behind it now. Audinate reported a 38% decline in revenue and a 91% decline in EBITDA. This reflects the overstocking of inventory among original equipment manufacturers (OEMs). Management expects trading conditions to normalise in FY 2026.
BlueScope Steel Limited (ASX: BSL)
The BlueScope share price is up 11% to $24.75. This has been driven by the release of the steel producer's half year results. Although the company posted a sizeable profit decline for the half, it is guiding to a much better second half. BlueScope reported a 57% decline in underlying EBIT to $309 million for the first half but expects underlying EBIT to be in the range of $360 million to $430 million for the next six months. Management advised that this reflects an improvement in the spread outlook in the US, stronger domestic volumes in Australia, and the benefits from the group-wide cost and productivity program.
Chalice Mining Ltd (ASX: CHN)
The Chalice Mining share price is up 30% to $1.56. Investors have been buying the mineral exploration company's shares following the release of a promising update from the Gonneville project. Management advised that exceptional testwork results demonstrate that two saleable, smelter-grade flotation concentrates can be produced across the entire Gonneville sulphide resource. CEO, Alex Dorsch, said: "The ability to produce a saleable nickel concentrate across the grade spectrum of the entire Gonneville Resource is a major breakthrough and fundamentally simplifies the world-class Gonneville Project. This is the step change we have been hoping for over the last two years."
