Why 4DMedical, DroneShield, EOS, and Star shares are rising today

The S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up 0.1% to 8,646.3 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is up a further 15% to $2.82. Investors have been buying this respiratory imaging technology company's shares this week following news that it has received regulatory approval in Canada for its CT:VQ product. It is the world's first and only non-contrast, CT-based ventilation-perfusion imaging solution. 4DMedical highlights that this approval marks a significant expansion of 4DMedical's presence in North America and allows immediate commercial deployment of CT:VQ across Canada through the company's strategic partnership with electronics giant Philips.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 20% to $2.76. This morning, this counter drone technology company announced a new contract win valued at $49.6 million from an in-region European reseller on behalf of a European military end-customer. The contract is for handheld counter drone systems, associated accessories, and software updates. Over the past three years, DroneShield revealed that it has received a total of 15 contracts from this reseller worth over $86.5 million.

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is up a further 14% to $7.37. The catalyst for this was a big announcement from the defence and space company on Monday. That announcement revealed that EOS has signed a binding conditional contract worth $120 million to manufacture and supply a 100kW high energy laser weapon to a company in the Republic of Korea. This represents the second export order for a 100kW class laser defence system, following a first export order to a Western European customer earlier this year. In response, this morning Bell Potter reiterated its buy rating with an improved price target of $9.00.

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is up almost 5% to 11 cents. This morning, the struggling casino and resorts operator announced the exit of its CEO, Steve McCann, with immediate effect. Bruce Mathieson Jnr will take on additional duties as executive chair while a search for a permanent CEO is conducted. McCann said: "Now is the right time for new leadership to be put in place with the experience and passion to build on that momentum and take The Star forward."

The post Why 4DMedical, DroneShield, EOS, and Star shares are rising today appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield and Electro Optic Systems. The Motley Fool Australia has no position in any of the stocks mentioned. 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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