The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has closed the day flat at 5,166.6 points, in what turned out to be quite a rollercoaster ride. But when the big four banks and the two major resource companies in the top 20 close the day in the red, it was always going to be tough for the market to post a positive session.
These 4 companies saw their share prices soar…
Ardent Leisure Group (ASX: AAD) share price jumped 11.8% to $2.18, after the entertainment company announced that it was selling it d’Albora Marinas business to allow the company to focus on a faster rollout of its Main Event operations in the US. Ardent expects to have 38 locations in 12 US states by 2017. The company also announced a number of other strategy changes, which we covered in more detail here.
BigAir Group Limited’s (ASX: BGL) share price soared 12.8% to $0.66, despite no news from the company. BigAir provides customers with access to a microwave wireless broadband network, as well as cloud management services. It’s possible that the 28% fall in the share price since the start of the year has brought out the bargain hunters, with the share price hitting a 52-week low of 58.5 cents earlier today.
TPG Telecom Ltd’s (ASX: TPM) share price gained 7.2% to $11.09 after the telco posted yet another six months of strong growth. Revenues were up 84% and net profit up 90% compared the previous period, thanks to a strong five and a half months contribution from recent acquisition iiNet. Forecasts suggest the company is expecting a strong second half, with more double-digit growth in earnings likely.
Tox Free Solutions Limited (ASX: TOX) share price rocketed up 15% to $2.99, after the waste management company announced the successful completion of an institutional capital raising of $20 million, with the proceeds contributing to the $70 million purchase of Worth Recycling in NSW. Tox says the acquisition will add 13.5% to earnings per share on pro-forma earnings, as well as expected synergies from the integration and the ability to expand Worth technologies and IP into other states.
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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.