It has been a slow start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is lower by 0.1% to 5,427 points, with only the information technology sector making any notable gains.
Despite this four shares have gone against the grain and climbed strongly today. Here’s why these four shares are higher:
Admedus Ltd (ASX: AHZ) shares have jumped over 6% to 33.5 cents following an announcement that the healthcare company’s restructure of its global operations is well advanced and has achieved on target sales growth. According to the release the first quarter revenue result will be the strongest in its history. Furthermore, it expects the global roll out of its ADAPT tissue engineering process to generate scalable revenue growth. Things are clearly looking up for the company and management appears confident that it is heading in the right direction now in terms of sales growth and reducing expenses.
Bionomics Ltd (ASX: BNO) shares have climbed higher yet again, this time by almost 16% to 44 cents. Investors have been fighting to get hold of this growing biotech company’s shares since it released positive news relating to its anxiety treatment trials last week. According to its release the results suggest the potential for a paradigm change for treatment of anxiety disorders. Since the release its shares have risen an incredible 55%.
SAI Global Limited (ASX: SAI) shares are up a staggering 30% to $4.66 after announcing it was subject to a takeover offer from from the Baring Asia Private Equity Fund. The directors of the risk management company have unanimously backed the offer which will see its shareholders receive $4.75 per share. The deal is still far from a foregone conclusion and will need approval from both shareholders and of course the Foreign Investment Review Board.
Whitehaven Coal Ltd (ASX: WHC) shares have bounced back from Friday’s heavy decline with an almost 6% increase to $2.54. The key to the miner’s strong performance this year has been a rise in coal prices due to the forced drop in Chinese production by its government. The good news is that according to the Australian Financial Review Goldman Sachs is predicting that coal prices will be staying at these elevated levels for some time to come.
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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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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