In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 1.55% to 8,712.8 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
Bank of Queensland Ltd (ASX: BOQ)
The Bank of Queensland share price is up 6% to $7.23. This follows news that the regional bank has signed a strategic capital partnership with Challenger Ltd (ASX: CGF). It notes that this marks a further step in its transformation to a simpler, specialist bank. The Challenger partnership includes a whole-of-loan sale and a forward flow arrangement for equipment finance assets that will further optimise its funding base and support the acceleration of its ambition to service more equipment finance customers, particularly in the small to medium business sector.
Guzman Y Gomez Ltd (ASX: GYG)
The Guzman Y Gomez share price is up 19% to $18.06. Investors have been buying the burrito seller's shares following the release of a trading update. Guzman Y Gomez reported a 19.5% increase in network sales to $345.9 million. Comparable sales grew 6.6% in Australia and 2.2% in the United States. Looking ahead, the company has reaffirmed its full-year guidance. It is expecting Australia segment underlying EBITDA as a percentage of network sales to climb to 6% to 6.2% in FY2026, compared with 5.7% the prior year. It also remains on track to open 32 new Australian restaurants.
Nextdc Ltd (ASX: NXT)
The NextDC share price is up 12% to $12.65. The catalyst for this has been news that the data centre operator has launched a $1 billion wholesale offer of subordinated hybrid securities to fund growth initiatives. NextDC's CEO and managing director, Craig Scroggie, said: "The announcement of the Hybrid Securities Offer and the La Caisse commitment represent another step toward NEXTDC delivering on a material step-change in the scale of our business as we deliver on the Company's contracted forward order book across the period to FY29 and make further investments across the portfolio of new projects. We are delighted with this binding commitment from La Caisse, a long‑term investor with deep experience in infrastructure, as further validation of our growth strategy."
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price is up 5% to $13.61. This morning, this radiopharmaceuticals company released a first-quarter sales update and revealed a 24% increase in group revenue to US$230 million. A key driver was its Precision Medicine division, which delivered a 23% increase in revenue to US$186 million. Telix's managing director and CEO, Dr Christian Behrenbruch, said: "This performance reflects the growing uptake of Gozellix alongside Illuccix, contributing to market share gains underpinned by disciplined sales execution and pricing, and high-quality service delivery despite extreme North American weather conditions, an advantage of the pharmacy distribution model."
The post Why Bank of Queensland, Guzman Y Gomez, NextDC, and Telix shares are racing higher today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Challenger and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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