The Australian share market is up for the third consecutive day as investors continue to embrace the bargains on offer. The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) surged a remarkable 1.7%, climbing above the 5,600 point mark, while the broader ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) gained 1.5%.
As impressive as that might be, the market's gains are nothing compared to the returns being generated by these four companies today.
Pacific Brands Limited (ASX: PBG) surged 36% higher after the company upgraded its full-year earnings guidance to between $63 and $65 million, up from a previous range of $57.4 to $63 million, thanks to an increase in sales and productivity. The announcement couldn't have come at a better time with the shares recently plunging to a six-year low.
Novogen Limited (ASX: NRT) shares have lifted more than 9% after HC Wainright assumed coverage on the company's NASDAQ-listed shares, allocating a buy rating to the stock. Novogen, which is an Australian-based biotechnology group focused on the development of novel anti-cancer drugs, has endured a rough ride over the last 12 months with its share price having ranged between a low of 8 cents, and a high of 44.6 cents.
Liquefied Natural Gas Ltd (ASX: LNG) ("LNGL") shares rose by as much as 8.8% earlier in the session and are trading 5.4% higher at the time of writing, despite the absence of any company-specific news. The company is just one of many of Australia's energy and gas stocks lifting today even though oil prices experienced a marginal decline overnight.
Gage Roads Brewing Co Limited (ASX: GRB) has been a serial under-performer for investors with its shares falling 72% since the beginning of the year. After hitting a low of 3.7 cents earlier in the week investors appear to be willing to take a chance on the stock, bidding it 18.4% higher today to 4.5 cents.
Despite the heavily discounted price, investors would be wise to give this $15 million company a miss and focus on some of the market's other, more attractive small-cap opportunities.
