The Australian sharemarket is tracking higher for the third day in a row with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices up 0.5% each. Pleasingly, a number of companies have managed far greater gains than the broader market, including the following four…
ResMed Inc. (CHESS) (ASX: RMD) reported its latest quarterly results overnight which investors responded kindly to – bidding the stock 6.9% higher. Although earnings remained flat for the quarter, ResMed posted a 9% increase in revenues following a particularly strong performance in the Americas. The company is carrying plenty of momentum into the new financial year and looks set to continue rewarding investors in the long run.
Bellamy's Australia Ltd (ASX: BAL) lifted as much as 5.5% earlier in the session but looks set to end the day roughly 2.1% higher at $4.87. It's been a volatile week for the Tasmanian-based provider of baby formula, although investors are still sitting pretty with the stock up a remarkable 302% over the last 12 months.
Gage Roads Brewing Co Limited (ASX: GRB) gained 33.3% this afternoon after the brewer released its quarterly results. While investors have been deeply disappointed with its most recent updates, they received a burst of confidence after the company said total carton sales had risen 9% on the prior corresponding period with the company's new Gage Roads Craft Range acting as a significant contributor to the result.
Capilano Honey Ltd (ASX: CZZ) rose 6.6% to a fresh high of $15.45 after it announced the acquisition of bee-keeping enterprise, KirksBees Honey. Capilano suggests that the acquisition will deliver increased product security and a material benefit to the group's earnings – an opinion shared by analysts at Canaccord and Morgans who both lifted their price targets on the stock (to $16.17 and $16.30, respectively).