It hasn't been a great day so far for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO), with the index spending most of Tuesday in the red. Currently it is lower by almost 0.2% to 5,531 points due to declines across most sectors.
However there are a number of shares going against the grain and posting strong gains today. Here are four in particular that have caught my eye:
ASG Group Limited (ASX: ASZ) shares have rocketed higher by 14% to $1.20 after announcing record full year results culminating in a 32% increase in EBITDA to $26.7 million. The leading Australian IT services company advised that continued growth in large-scale, multi-year contracts and material improvements in operating margins were behind the strong result. The great news for shareholders is that management advised that the expansion of multi-year contracts means that $185 million of revenue is already locked in for FY 2017.
ASG Group's share price has now broken into positive territory this year and is up 2% year to date.
Beach Energy Ltd (ASX: BPT) shares have risen 4% to 57.7 cents following a recent rise in oil prices. Both WTI and Brent crude oil prices have jumped over 10% in the last three trading days as a result of hopes that OPEC and other major oil producers will agree to freeze production in order to boost prices. Previous attempts to come to a similar agreement earlier this year failed and I'd be quite surprised if this one didn't as well.
Beach Energy's share price has risen almost 18% this year.
Orora Ltd (ASX: ORA) shares are climbing higher for a second day running, this time by 4% to $3.16. Yesterday the packaging company's share price rose 9% after announcing strong full year results that revealed a 23.8% rise in net profit. Today's rise is likely to be attributable to a research note from Credit Suisse that revealed the investment bank had upgraded Orora's shares to a buy rating with a $3.30 price target.
Orora's share price has rocketed 40% so far in 2016.
Praemium Ltd (ASX: PPS) shares are up 6% to 43 cents today after the growing fintech company released its full year results to the market. Leading broker Bell Potter was clearly impressed with the results that saw Praemium report a 23% jump in revenue to $30.2 million and an impressive 72% increase in EBITDA to $3.8 million. According to a research note the broker reiterated its buy recommendation and increased its price target for Praemium to 72 cents.
Praemium shares have now climbed 55% in 2016.
