The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is crashing, currently down 2.0% in early afternoon trade. Falling oil prices are creating havoc among energy shares and the big four banks continue to see their share prices pummelled.
However, these 4 companies are seeing their share prices soar…
Farm Pride Foods Ltd (ASX: FRM) share price has rocketed up 23% to $2.00, following a profit upgrade late last week. The national egg supplier also said it was using its improved cash flow to pay down debt – something the company has been doing consistently for the past 4 years. Investors are clearly expecting bigger and better things from Farm Pride Foods in the years ahead.
Vmoto Ltd (ASX: VMT) share price has jumped 4 cents or 13.3% to 34 cents. The electric-powered motor scooter manufacturer today said it sold more than 23,300 units in the fourth quarter of 2015 – up 18% over the previous year. The company has also launched its range in Australia and secured an order to supply 300 units to a large European supermarket group. Vmoto also says it is on track to report around $5 million in underlying net profit for 2015.
Redflow Ltd (ASX: RFX) share price is up 10% at 22 cents. The maker of zinc-bromine liquid batteries is attempting to compete with Tesla’s Powerwall energy battery for home energy storage. Redflow is gearing up to test its batteries with executive chairman Simon Hackett installing two at his Adelaide home, according to The Australian. Redflow says its batteries are better for home use than Tesla’s, lasting longer and storing more power.
Fortescue Metals Group Limited (ASX: FMG) share price has jumped 3.2% to $1.64, after the iron ore spot price gained 1.9% to US$43.84 a tonne, maintaining a solid base over the past week. That has seen Fortescue’s share price gain 7.2% in the past five business days. Still, the iron ore miner’s shares are down more than 30% over the past year as the iron ore price plunged, and the miner worked frantically to lower its production costs.
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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.