The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has lost more than 0.5% in mid-afternoon trading, as the big banks and miners drag the market down. But that hasn’t stopped a number of companies going against the trend and soaring today.
Here’s our view of four companies thrashing the market today…
Panorama Synergy Limited (ASX: PSY) is a technology development company focused on MEMS machines. These machines can measure and detect things too small to be measure any other way, from rain on your windshield, to the presence of certain types of cancer from your breath, plus thousands of other applications. Today the company announced a significant breakthrough in MEMS sensors and the lodgement of two patent applications in Australia and the US. Shares in Panorama shot up more than 54% to 42.5 cents.
Macquarie Telecom Group Ltd (ASX: MAQ) shares soared 17% to $5.90, despite no announcements. The company provides data centre services and business telecommunications, including hosting and cloud services, as well as voice, data and mobile telecommunications. Two of Macquarie’s directors recently waded into the market to buy shares – perhaps indicating that they think shares are cheap.
Empired Ltd (ASX: EPD) shares have risen 8.2% to 79.5 cents and are up 43% in the last 3 months. The IT services company recently recorded a 144% increase in net profit to $4.3 million for the 2014 financial year and expects strong growth this financial year. That’s thanks to full year contributions from two recent acquisitions and a Major resources project won during the last financial year.
Toro Energy Limited (ASX: TOE), a uranium miner, announced today that its managing director had joined the Prime Minister’s trade delegation visit to India this week. India wants to generate 25% of its energy requirements from nuclear power in future, and Australia has nearly one-third of the world’s known economic uranium resources. Toro says Australia needs to develop new uranium mines to support growing energy demand. Toro shares have jumped 9.6%.
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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga