The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) closed down 0.2% at 5,505.6 points, with sectors mixed. Energy recovered more than 1%, while the information technology sector dropped 0.9% and the consumer staples sector fell 0.8%.
However, these four stocks soared higher…
Mesoblast limited (ASX: MSB) share price recovered 15.5% to close at $1.79, after halving over the past two weeks. The cause was a secondary listing on the US NASDAQ exchange at a deeply discounted price compared to the ASX. Shares were trading at $3.71 before the listing, but the equivalent NASDAQ listing valued the shares at just $2.24. Despite that several brokers think shares are a buy.
Adacel Technologies Limited (ASX: ADA) share price climbed 10.3% to $2.15. Up 764% for this year, the provider of air traffic control systems and simulators appears to have strong growth ahead of it. We covered the company in more detail here, including its forecast for a 50% increase in profit before tax for the 2016 financial year.
OrotonGroup Limited (ASX: ORL) share price rose 9.2% to $2.84 after the fashion retailer reported that the 2016 financial year (FY16) had begun well. The first 17 weeks had seen a continuation of positive like for like sales growth in both the Gap and Oroton brands. Oroton sales were up 8% while Gap sales were up 10% compared to the previous period, suggesting the retailer may be on the comeback trail.
JB Hi-Fi Limited (ASX: JBH) share price gained 4.7% to $19.65, despite no news from the consumer electronics retailer. Following on from positive retail sales announcement from Oroton, and department stores Myer Holdings Ltd (ASX: MYR) and David Jones, it appears that Australian consumers are back shopping again. JB Hi-Fi recently reported that like for like sales in the first quarter were up 3.7%.
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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
Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. 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.