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Here’s why these 4 stocks have been soaring higher today

The S&P / ASX 200 (Index: ^AXJO) (ASX: XJO) opened flat this morning but that hasn’t stopped several businesses storming out of the gates this Melbourne Cup trading week. Investors might be well advised to take a closer look at some of these stocks, as this morning’s gains may be just the start of things to come.

Amcom Telecommunications Limited (ASX: AMM) has climbed more than 2% to $2.28 and is up more than 20% since late October when rival fibre-optic internet provider Vocus Communications Limited (ASX: VOC) announced it was keen to buy Amcom.

Amcom’s rise this morning though is likely related to the news it has splashed out $15 million to buy 180km of fibre assets from rival operator Megaport. Perth-based Amcom has a strong network in WA and is now looking to muscle in on the larger and more lucrative east coast market. Amcom also stated that discussions with Vocus over a potential merger are ongoing and both businesses look to remain in technology-based growth sweet spots.

UK-based fund manager Henderson Group plc (ASX: HGG) has climbed more than 4% this morning to $3.90 as bargain-hunting investors react to another quarter of strongish net fund inflows in the retail and institutional space.

Henderson’s leverage to European equity markets means it’s either in a tough spot or a value opportunity depending on your outlook for European and global equity markets in general.

Another financial services business, Challenger Ltd (ASX: CGF), is also up more than 2% to $7.07, but it still trades a long way below 52-week highs around $8.20 hit last July. Challenger’s growth outlook is partly based on its ability to persuade Australia’s Baby Boomer generation that its annuity income products are the financial answer to their retirement needs.

The group also operates a funds management business and like Henderson is probably receiving support thanks to confidence returning to global equity markets over the last week.

Specialty Fashion Group Ltd. (ASX: SFH) has jumped 4 cents or nearly 5% to 87 cents a share, although the company has released no specific news to the market today. The group did post a relatively strong second half to FY 2014 and announced that the momentum had continued into this financial year with positive comparable same store sales growth.

The stock has traded sideways for the last 18 months, amidst a tough outlook for traditional apparel retailers.

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Motley Fool contributor Tom Richardson owns shares in Vocus and Amcom. You can find him on Twitter @tommyr345