Australian Stock Markets
The S&P/ASX 200 (Index: AXJO) (ASX: XJO) is on course to finish the week on a high and is up a solid 0.8% to 5,997 points.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week with a bang:
The Accent Group Ltd (ASX: AX1) share price is up 16% to $1.03 following the release of the footwear retailer’s half-year results.
Accent reported an underlying net profit of $26.3 million on sales of $350.3 million for the six months ended December 31.
This was a 13% and 16.5% increase, respectively, on the prior corresponding period.
The Bellamy’s Australia Ltd (ASX: BAL) share price has jumped 7.5% to $16.03.
With no news out of the infant formula company, today’s gain is likely to be attributable to a broker note out of Goldman Sachs.
The broker upgraded Bellamy’s shares to a buy rating with an increased price target of $18.00 on the belief that its gross margin expansion opportunity is underappreciated by the market.
The Mayne Pharma Group Ltd (ASX: MYX) share price has climbed 6% to 74 cents.
Although the pharmaceutical company posted a net loss of $174 million for the first-half, investors appear to be optimistic that it is now through the worst of its problems.
Management advised that the generic drugs market has stabilised and expects a much stronger second-half.
The Nextdc Ltd (ASX: NXT) share price has rocketed 15.5% to $7.03 following the release of its half-year results.
The data centre operator delivered another impressive half-year result thanks to increasing demand for its services.
This led to management upgrading its full-year guidance.
Furthermore, it advised that it is in advanced negotiations with several large customer opportunities which have the potential to lead to a significant increase in the company’s contracted utilisation base.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week with a bang:
The Accent Group Ltd (ASX: AX1) share price is up 16% to $1.03 following the release of the footwear retailer’s half-year results.
Accent reported an underlying net profit of $26.3 million on sales of $350.3 million for the six months ended December 31.
This was a 13% and 16.5% increase, respectively, on the prior corresponding period.
The Bellamy’s Australia Ltd (ASX: BAL) share price has jumped 7.5% to $16.03.
With no news out of the infant formula company, today’s gain is likely to be attributable to a broker note out of Goldman Sachs.
The broker upgraded Bellamy’s shares to a buy rating with an increased price target of $18.00 on the belief that its gross margin expansion opportunity is underappreciated by the market.
The Mayne Pharma Group Ltd (ASX: MYX) share price has climbed 6% to 74 cents.
Although the pharmaceutical company posted a net loss of $174 million for the first-half, investors appear to be optimistic that it is now through the worst of its problems.
Management advised that the generic drugs market has stabilised and expects a much stronger second-half.
The Nextdc Ltd (ASX: NXT) share price has rocketed 15.5% to $7.03 following the release of its half-year results.
The data centre operator delivered another impressive half-year result thanks to increasing demand for its services.
This led to management upgrading its full-year guidance.
Furthermore, it advised that it is in advanced negotiations with several large customer opportunities which have the potential to lead to a significant increase in the company’s contracted utilisation base.
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