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Why these 4 ASX shares have stormed higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and has fallen 0.1% to 5,718 points.

Four shares which have managed to defy the market and storm higher today are listed below. Here’s why they are higher:

The a2 Milk Company Ltd (Australia) (ASX: A2M) share price has climbed almost 4.5% to $3.82 after a research note out of Deutsche Bank revealed that its analysts have upgraded the dairy company to a buy rating from neutral. The broker appears to be bullish on its long-term prospects in the China market. I would agree with Deutsche on this one and believe a2 Milk would be a great investment.

The Auscann Group Holdings Ltd (ASX: AC8) share price is up 5% to 44.5 cents after the medicinal cannabis company advised that its strategic partner Tasmanian Alkaloids has been granted a medicinal cannabis licence and a research and development licence from the Office of Drug Control. This means that AusCann has licenses in two Australian states now.

The Audio Pixels Holdings Ltd (ASX: AKP) share price rocketed 13% higher to $21.50 after the digital speaker developer announced that it has completed development of a production process for the critical points of contact layers of its micro-electromechanical structures. This will no doubt be a relief to shareholders as the company had struggled with the issue for some time.

The Slater & Gordon Limited (ASX: SGH) share price has jumped 11% to 8.2 cents after the embattled law firm revealed that it has settled its shareholder class action. The company will pay $36.5 million to thousands of shareholders in relation to the significant loss of value following the ill-fated acquisition of the Quindell insurance business.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. 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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