4 shares soaring on the ASX today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has struggled to push into positive territory, closing down 0.4% at 5,295.6 points with results across the sectors mixed. The S&P/ASX 200 Energy (Index: ^AXEJ) (ASX: XEJ) fell 1.3%, while the S&P/ASX 200 Information Technology (Index: ^AXIJ) (ASX: XIJ) was up 0.5%.

These 4 companies saw their share prices jump…

Capilano Honey Ltd (ASX: CZZ) share price buzzed 5.0% higher to $21.50, despite the company launching an underwritten non-renounceable rights issue for existing shareholders at an offer price of $19.50 per share to raise $16.8 million yesterday. The honey distributor also announced that it was expecting growth of between 18% and 25% in net profit after tax in the 2016 financial year, compared to the prior year.

MMA Offshore Ltd (ASX: MRM) share price gained 4.9% to $0.425, despite no news from the offshore oil and gas marine services company. So far this year, the MMA Offshore share price has gained 73% on the back of a recovery in oil prices. A few commentators and industry associations are reporting that they think oil prices may have bottomed – which bodes well for MMA’s business if offshore oil companies restart exploration.

Select Harvests Limited (ASX: SHV) share price rose 5.4% to $5.70, having hit a low of $3.73 last month, but well off the highs of $13.64 reached in August last year. The almonds producer said earlier this year that it can ride out the slump in almond pricing, but prices appear to continue falling, with March prices down 6.5%, and nearly 50% since September 2015. However, bargain hunters seem to think the sell-off was overdone and are now buying up shares.

Technology One Limited (ASX: TNE) share price added 4.1% to $5.23, after the software company unveiled its half-year results yesterday. Technology One says it reconfirms profit growth of 10-15% for the full year, with 218% growth in Cloud Services fees and 21 new customers signed up. The software company also reported that it would consider a special dividend at the end of the financial year.

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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

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.

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