In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down a disappointing 0.3% to 5,906 points, due largely to heavy declines in the materials sector.
Four shares which are going against the grain today and finishing the week with a bang are listed below. Here's why they've surged higher:
The Bubs Australia Ltd (ASX: BUB) share price has jumped 7% to 15 cents after the infant formula company released its third-quarter report. Quarter-on-quarter revenue grew strongly, leading to total year-to-date revenue of $3.1 million. With its domestic footprint doubling during the quarter to over 1,800 stores, the company looks to be in position to continue growing its top line at a strong rate.
The Computershare Limited (ASX: CPU) share price is up 3.5% to $14.73 following the release of its investor presentation this morning. Although the company reaffirmed full-year earnings guidance of between 56 and 58 U.S. cents per share, the market appears pleased with its plans to improve its margin income.
The Orocobre Limited (ASX: ORE) share price has surged 6% to $3.11 after releasing its quarterly update after the market closed yesterday. While production was largely in line with expectations, revenue came in stronger than many expected. According to research notes out of Deutsche Bank and Citi this morning, both investment banks have reiterated their buy ratings on the lithium miner.
The OceanaGold Corporation (ASX: OGC) share price has jumped 4% to $4.22 despite the majority of the gold miners sinking lower today. The market appears to be pleased with the record quarterly production it announced yesterday. All the more impressive considering the drama it has faced at its Didipio mine in the Philippines.
