Why EOS, News Corp, Polynovo, and Pro Medicus shares are roaring higher today
The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a gain. At the time of writing, the benchmark index is up 0.75% to 8,126.4 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up 12% to $1.19. This follows news that the defence and space systems company has secured new orders amounting to approximately $33.7 million. This comprises remote weapon system spares worth SGD17.1 million (approximately $20.1 million) and Counter-Drone Container Based Remote Weapon Systems valued at 8.2 million euros (approximately $13.6 million). Management believes that these orders demonstrate the benefits of EOS' strategic focus on diversifying its remote weapon system product range and customer base in recent years.
News Corporation (ASX: NWS)
The News Corporation share price is up 2% to $50.03. This morning, this media giant announced the sale of its Foxtel business to DAZN Group for an enterprise value of $3.4 billion. News Corp will be receiving $578 million from the repayment of outstanding loans owed to it and a 6% stake in DAZN Group. News Corp's chief executive, Robert Thomson, said: "This agreement is a victory for News Corp shareholders, DAZN, and sport fans in Australia and around the world. Foxtel has been transformed into a genuine digital and streaming leader in Australia, and we believe DAZN is the right owner to take the business to the next level with their technological capabilities, global footprint and compelling sports rights."
Polynovo Ltd (ASX: PNV)
The Polynovo share price is up over 5% to $2.06. Investors have been buying this medical device company's shares after it released a sales update. Polynovo revealed that it achieved its first $10 million sales month in November. This means that year to date, group revenue is now $49.6 million. This is up $10.1 million or 25.4% on the prior corresponding period. Polynovo CEO, Swami Raote, said: "We continue to be grateful to our clinicians, our partners and our people, who are coming together to ensure that NovoSorb is rapidly embraced as a soft-tissue reconstruction platform of choice across Plastic and Reconstructive surgery."
Pro Medicus Limited (ASX: PME)
The Pro Medicus share price is up 2.5% to $254.98. This morning, this health imaging technology company announced yet another contract win. Pro Medicus has signed a $30 million, seven-year contract with Duly Health and Care (DHC). It is the largest independent, multi-specialty physician-directed medical group in the Midwest of the United States. Pro Medicus' CEO, Dr Sam Hupert, said: "Duly Health and Care is an important deal for us as they are in the private radiology/outpatient space, an area of the market where we are starting to see increased opportunity."
The post Why EOS, News Corp, Polynovo, and Pro Medicus shares are roaring higher today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Pro Medicus. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems and PolyNovo. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended PolyNovo and Pro Medicus. 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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