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Introduction
The ASX shares are wrapping up the week on a high note. In afternoon trading, the S&P/ASX 200 Index is set to conclude the week with a strong 1.1% increase, reaching 6,977.1 points at the time of writing.
Block Inc (ASX:SQ2)
Block's share price has surged by an impressive 25% to $80.96. This surge follows the release of a third-quarter update that exceeded expectations. Block reported a substantial 24% increase in revenue, totaling US$5.62 billion, along with a notable 21% rise in gross profit, amounting to US$1.9 billion for the quarter. This was backed by a 15% surge in Square's gross profit to US$899 million, and a substantial 27% incarese in Cash App's gross profit to US$984 million.
Core Lithium Ltd (ASX:CXO)
The CXO share price has zoomed by a significant 8.5% to 38.5 cents. This surge seems to be attributed to the release of Albemarle Corp's quarterly update. While the results from the lithium giant were slightly below expectations, the market is optimistic about the news that its sales volumes will be lower than initially projected. This potential reduction in lithium supply could potentially lead to higher prices.
Neuren Pharmaceuticals Ltd (ASX:NEU)
Neuren Pharmaceuticals' share price has experienced a notable 10% increase, reaching $12.39. Investors have been showing strong interest in this pharmaceutical company's shares following the release of an update on the sales of Daybue. As stated, Neuren's partner, Acadia Pharmaceuticals (NASDAQ:ACAD), achieved Q3 Daybue net sales in the United States amounting to US$66.9 million. the expected net sales Q4 2023 ranges from US$80 million to US$87.5 million. Neuren anticipates royalties of A$10.4 million for Q3, and A$12.5 million to A$13.7 million for Q4.
Tietto Minerals Ltd (ASX:TIE)
TIE’s shares have seen a solid 6% increase, reaching 60 cents. Today, the gold mining firm rejected an off-market takeover offer from Zhaojin Mining. The offers was unsolicited and conditional. The company rejected the offer on the grounds that the offer of 58 cents per share significantly undervalues Tietto Minerals.
Conclusion
In summary, these ASX shares have shown remarkable resilience and growth, making them noteworthy contenders in today's market.
