After trading as much as 1% lower early in the session, the Australian sharemarket has rebounded strongly. While the S&P/ASX 200 (ASX: XJO) is now trading 0.8% higher at 5188 points however, these four companies are generating even stronger returns…
Veda Group Ltd (ASX: VED) shocked the market when it announced it had received a takeover offer from Equifax, a global consumer credit reporting agency. The shares soared more than 40% to a high of $2.80 after emerging from a trading halt, but have since retreated to $2.61, up 31% from yesterday's closing price. That's 9 cents below the offer price.
Bellamy's Australia Ltd (ASX: BAL) is back on top today after falling more than 5% on Thursday. The shares are up 5% today at $7.74 with investors clearly still recognising the value, despite the company's incredible gains over the last 12 months. Bellamy's is the company behind a range of organic food and formula products for babies which are becoming increasingly popular around the world.
Newzulu Ltd (ASX: NWZ) has risen 34.6% today, recovering a small portion of the market value that has vanished over the last 12 months. The crowd-sourced and freelance news service announced that it has completed the acquisition of Octiplex which will boost Newzulu's mobile presence.
Jumbo Interactive Ltd (ASX: JIN) has risen 11% to trade at 90 cents after the internet lottery business announced a share buy-back program. With a market capitalisation of $36 million, the company said that "at prevailing prices, Jumbo shares represent a sound investment opportunity to enhance shareholder value." It intends to buy back 4.39 million shares.
