Why these 4 ASX shares stormed higher today

After a dreadful start the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to bounce off its lows and in afternoon is flat at 5,668 points.

Four shares which have defied the market today and climbed higher are listed below. Here’s why they are storming higher:

The Bubs Australia Ltd (ASX: BUB) share price has rocketed 23% to 16 cents after the infant formula and baby food company announced an agreement with China-based Brilite Nutritionals. According to management, the deal will ultimately see Bubs’ products hit the shelves of over 2,000 mother and baby stores throughout China. Positive news for the company, but I would suggest investors hold out and wait until sales data is available in the future.

The CSL Limited (ASX: CSL) share price is up almost 3% to $135.27 following the release of a positive research note from investment bank UBS. According to the note its analysts have upgraded the biotherapeutics company to a buy rating with a $145.00 price target. I have to agree with UBS on this one. CSL would be a great investment in my opinion.

The Ltd (ASX: KGN) share price has continued to climb higher, this time by a further 4% to $1.59. Investors appear to be pleased with the company’s plan to launch an NBN service from 2018 and a mobile broadband service later this year. As promising as the news is, I’m still not a buyer of its shares due to Amazon’s impending launch in Australia.

The UUV Aquabotix Ltd (ASX: UUV) share price is up almost 8% to 14 cents after the underwater drone company announced that it has commenced work on a consumer unmanned underwater vehicle product. Management has identified a gap in the consumer market and intends to fill it by offering a competitively priced product. I feel this is a great move from this exciting company.

As well as CSL, I think these shares could be classed as buys today. Each has been delivering impressive results and looks set to continue doing so for the foreseeable future in my opinion.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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