The Australian stock market is off to a shaky start this week, with the S&P/ASX 200 Index (ASX: XJO) slipping 0.6% to 8,503.5 points in Monday’s afternoon trade. However, not all stocks are following the downward trend. Some standout performers are defying the broader market dip, delivering impressive gains to investors.

Let’s take a closer look at four ASX stocks that are making waves today and what’s fueling their surge.

A2 Milk Company Ltd (ASX: A2M)

A2 Milk shares have jumped 19% to $7.08 following the company’s half-year earnings report. Investors welcomed the infant formula giant’s strong performance, which met market expectations and, notably, included its first-ever dividend. The company declared a fully franked dividend of 8.5 NZ cents per share, a significant milestone in its growth journey.

Adding to the bullish sentiment, A2 Milk upgraded its revenue and EBITDA margin guidance for the year. Management now expects revenue to grow in the low to mid-double-digit range, an improvement from its previous mid-to-high single-digit forecast. Additionally, EBITDA margins are projected to increase slightly year-on-year, reinforcing investor confidence in the company’s long-term outlook.

Audinate Group Ltd (ASX: AD8)

Audinate shares have surged an astonishing 31% to $9.92, despite posting a weak half-year result. While revenue plummeted 38% and EBITDA fell 91%, investors appear to believe that the worst may be over for this audio-visual networking technology provider.

The company’s challenges stemmed largely from an overstocking issue among original equipment manufacturers (OEMs), which weighed heavily on short-term financials. However, management remains optimistic, expecting market conditions to normalize by FY 2026. This forward-looking confidence has fueled today’s rally, as investors bet on a turnaround story.

BlueScope Steel Limited (ASX: BSL)

BlueScope Steel has also joined the list of gainers, climbing 11% to $24.75. Despite reporting a significant 57% decline in underlying EBIT to $309 million for the first half, the company’s positive guidance for the next six months has lifted investor sentiment.

Management anticipates underlying EBIT to rise to a range of $360 million to $430 million in the second half of the year. This optimism is driven by improving spreads in the US, stronger domestic demand in Australia, and enhanced cost-efficiency measures across the business. Investors seem to be looking past the weaker first half and focusing on the company’s potential for a stronger rebound.

Chalice Mining Ltd (ASX: CHN)

Shares of Chalice Mining have skyrocketed 30% to $1.56, fueled by a promising update from its flagship Gonneville project. The company’s latest test results revealed that two high-quality, smelter-grade flotation concentrates can be produced across the entire Gonneville sulphide resource.

CEO Alex Dorsch hailed the breakthrough as a game-changer, stating, “The ability to produce a saleable nickel concentrate across the grade spectrum of the entire Gonneville Resource is a major breakthrough and fundamentally simplifies the world-class Gonneville Project. This is the step change we have been hoping for over the last two years.”

With this development significantly enhancing the project’s commercial viability, investors have responded with strong buying interest.

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