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In the Wednesday afternoon discussions, the S&P/ASX 200 Index (ASX:XJO) is on track to register a decent gain. As of this writing, the benchmark is up 0.3% to 6,664.8 points.
Four ASX stocks that are climbing more than most today are listed below. Here is why they are increasing:
Bank of Queensland Ltd (ASX:BOQ)
Bank of Queensland’s share price is up 9.5% at $7.48. This follows the release of the regional bank’s annual results. Although the bank’s results fell short of expectations, its fourth-quarter net interest margin has excited investors and should lead to an upward revision to consensus earnings estimates for fiscal year 2023. .
BrainChip Holdings Ltd (ASX: BRN)
BrainChip stock price is up 3.5% to 87.5 cents. Investors bought the shares of this semiconductor company after it announced the receipt of a new patent in the United States. According to the release, the US Patent and Trademark Office has granted the company a patent for “An Improved Spiking Neural Network”.
Coronado Global Resources Inc. (ASX: CRN)
Coronado stock price is up 8% at $2.09. This morning, this coal miner confirmed that he was in talks on a possible merger with Peabody Energy Company (NYSE: BTUs). However, Coronado warned that talks are still ongoing and there is no guarantee they will result in a deal.
Lake NL Resources (ASX: LKE)
Lake Resources’ share price is up 3% at $1.02. This follows news that the lithium developer has signed a conditional agreement with lithium battery producer SK On to take up to 25,000 tonnes per year of lithium from the Kachi project in Argentina. SK On will also acquire a 10% stake in the company through the issuance of new shares.