So far it has been a day to forget for much of the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) which is giving back a lot of yesterday's gains with a decline of 1% to 5,298 points.
But amongst the declines are a number of shares defying the market and putting on solid gains today. No doubt the shareholders of these four shares will be having a better day than most:
1-Page Ltd (ASX: 1PG) bounced back from a couple of bad days on the market with a huge 15% jump to 82.5 cents today. This came after the Silicon Valley-based software-as-a-service company announced two new additions to its board of directors. John Fennelly and Michael Shen have been added to the board and bring a wealth of experience and connections. The appointment of Shen in particular may have raised a few eyebrows, with the company hinting that it is looking at pushing for growth in Asia. Shen is based in Hong Kong and the company believes his local relationships will provide valuable insight into Asian financial markets and strategy.
1-Page has posted a terrible 2016, losing around 75% of its value despite today's gains.
Ainsworth Game Technology Limited (ASX: AGI) shares climbed by almost 8% to $2.47 following news that management has finally settled on a date for the company's extraordinary general meeting. The June 3 meeting will allow shareholders to finally vote on the proposed sale of Leonard Ainsworth's 172.1 million shareholding to Austrian-based gaming company, Novomatic. A board of independent directors was set up in order to judge the proposal and they voted unanimously in favour of the resolution to approve the sale. They cited synergies and Novomatic's intention to support the acceleration of AGI's growth, as key reasons for their decision.
Ainsworth Game Technology is still down around 12% in the last 12 months.
GUD Holdings Limited (ASX: GUD) continued its rally, this time by almost 3% to $9.23. Today's climb appears to come on the back of the company's reiteration of full year underlying earnings before interest and tax (EBIT) guidance in the range of $82m to $88m. This was made in a presentation at a conference held by Macquarie Group Ltd (ASX: MQG) today, and will be a big improvement from last year when the company delivered EBIT of $59 million.
GUD Holdings shares have been on a tear in the last month, climbing over 31%.
Surfstitch Group Ltd (ASX: SRF) shares have bounced back from their 56% drop yesterday with a 6% gain today to 51 cents. There was no news released to the market today, so it would appear that a few investors are speculating on a recovery for the embattled retailer. The company's full year EBITDA guidance downgrade to between $2 million and $3 million was the latest in a series of missteps by the company which saw its CEO step down six weeks ago. Anyone thinking of investing in Surfstitch might want to consider reading this great article first.
Surfstitch shares are down by a massive 72% year-to-date.
There you have it, a few bright spots on an otherwise gloomy day on the market. If you missed out on these high flyers today, don't worry. Have a look at this share instead which could be next in line to rocket if you ask me.
