It took a little while for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) to get going, but it is now up almost 0.5% to 5,250 points. If it can maintain this level then the index will finish this four-day week in positive territory.
Lending a hand to the market's good performance today are four shares in particular which have put on strong gains. Here's why:
Blackmores Limited's (ASX: BKL) share price climbed higher again today, this time by almost 7% to $162.82. This recent rally is the result of a fantastic third quarter which saw sales grow 63% to $531 million. With concerns over the Chinese market cast aside, I believe the share price could now be heading back beyond $200 again.
Blackmores' share price is still down by over 25% in 2016, possibly making it a bargain buy today.
Broadspectrum Ltd (ASX: BRS) surged 33% higher to $1.48 today after it was announced that the diversified services and contracting company had decided to accept the takeover bid from Ferrovial. Management had previously rejected the takeover approach, but concerns over its Manus Island contract led to a change of heart. The board now recommends shareholders accept the offer which expires on Monday.
Broadspectrum shares are now in positive territory by almost 3% after a 12-month period largely in the red.
Catapult Group International Ltd (ASX: CAT) climbed a further 6% today to $2.70. The company released its quarterly update to the market late in the day on Thursday, and the shares have not looked back since. In its third quarter Catapult delivered another new all-time record quarterly sales result with unit orders up 118% on the previous corresponding period. I have been very impressed with the company's growth and look forward to its fourth-quarter results which normally account for 36% of total sales.
Catapult is now up by over 200% in the last 12 months.
Nearmap Ltd (ASX: NEA) shareholders saw its share price surge 25% higher today to 50 cents following a very positive quarterly update. The company reported accelerating growth in both Australia and the United States, with a 12% rise in sales quarter-on-quarter. Although the company is yet to make a profit in the US, I believe it won't be far away. The company's costs are largely fixed which means if sales continue to ramp up, the bottom line should be in the black soon.
Despite the gains today Nearmap is still down by around 13% in the last 12 months.
