On what's shaping up as a marginally down day on the Australian stock market four companies have powered higher for differing reasons. Two are potential turnaround stories, while the other two are potential growth stories, so let's take a look at the reasons behind the gains.
Risk and compliance solutions provider SAI Global Limited (ASX: SAI) has lifted 25 cents or 6.85% today after announcing that it has purchased the exclusive rights to a new software package called, Encompass, which is used for commercial data retrieval and analysis. The company's shares have fallen more than 20% in the last month so today's news acts to serve as a welcome shot in the arm for the business as a whole.
After posting another disappointing full year result last week Ten Network Holdings Limited (ASX: TEN) continues to rebound from 52-week lows amidst rumours of a merger with Fairfax Media Limited (ASX: FXJ). Ten's shares have climbed 18% over the past five days as rumours swirl over a possible takeover bid from any number of suitors both in and outside Australia.
Regenerative medicine business Ademdus Ltd (ASX: AHZ) has seen its stock climb 8% to 13.5 cents today as it continues its efforts to ramp up sales of its key Cardiocel product. The product is used by surgeons to repair heart defects and Admedus has been investing heavily in an attempt to promote the product and lift sales up off the ground. So far this business has been long on promise, but short on delivery and Admedus has a big 6-12 months ahead of it.
Newzulu Ltd (ASX: NWZ) is another business which has been capturing plenty of investor attention relative to its size with shares trading up 1.5 cents or 11.11% to 15 cents today. The crowd-sourced media company today announced the acquisition of software platform Filemobile for a price up to CAD$5,000,000.
