The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a disappointing decline. At the time of writing, the benchmark index is down 0.55% to 8,283.3 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is up 1% to $1.35. This may have been driven by a broker note out of Ord Minnett on Thursday. Its analysts believe that risks at the company's Waitsia project have been significantly reduced. In addition, the broker is positive on the energy producer's free cash flow outlook. It expects that Beach Energy's free cash flow will support the payment of significantly larger than expected dividends in FY 2025 and FY 2026.

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is up 7% to $3.64. This morning, this financial services company revealed that it has received a non-binding takeover offer from Bain Capital. The private equity firm has tabled a $4.00 cash per share proposal. This represents a 17.6% premium to where its shares closed yesterday's session and values the company at approximately $2.68 billion. Management is considering the offer and has yet to make a decision.

Iress Ltd (ASX: IRE)

The Iress share price is up 5% to $9.12. This morning, this financial technology company released an update on its earnings guidance for FY 2024. The company advised that it expects its adjusted EBITDA to be at the top end of its guidance range of $126 million to $132 million. In addition, the ASX 200 tech stock's CEO and managing director, Marcus Price, revealed that the company is "well placed to enter 2025 as a financially and strategically stronger, more streamlined business with dividends to be reinstated."

Peter Warren Automotive Holdings Ltd (ASX: PWR)

The Peter Warren share price is up 2% to $1.53. This automotive retailer's shares were sold off on Thursday following the release of a trading update. Peter Warren advised that growing industry headwinds have resulted in a recent deterioration in trading conditions. As a result, it now expects underlying profit before tax for the first half of FY 2025 to be in the range of $6 million to $8 million. This is down from $34.4 million in the prior corresponding period. Some investors appear to believe that the selloff has created a buying opportunity.