Why these 4 shares are zooming higher today

Although the US Presidential election remains the key focus of investors for the time being, the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has managed to start the week off on a positive note, rising 1.2% to 5,243 points.

The gold sector is the only sector trading in negative territory today, with the biggest gains coming from the financial and healthcare sectors.

Four shares that are enjoying a particularly strong day, include:

Mayne Pharma Group Ltd (ASX: MYX)

Shares of Mayne Pharma have rebounded more than 8% today, after falling more than 15% last Friday. The drug company has been the subject of a US investigation into price collusion, although Mayne Pharma has stated that it has been co-operating with authorities so far. While the investigation is ongoing, the company believes it is unlikely to have a material impact on earnings and this could be drawing investors back in today.

Sonic Healthcare Limited (ASX: SHL)

Sonic Healthcare shares have climbed more than 5% today after analysts and investors gave the company’s German laboratory acquisition the thumbs up. The €120 million deal is expected to be 3%-4% earnings per share accretive in the first year, with accelerated gains expected to be delivered over a three-year period. As a result, Morgan Stanley has upgraded the shares and set a price target of $24.05.

Vocus Communications Limited (ASX: VOC)

Shares of Vocus have surged nearly 5% today despite the absence of any news from the company. It appears today’s move is the result of bargain hunters stepping in following a pretty savage decline in the share price over the past few months. Although the worst of the selling might be over for now, investors are likely to remain cautious towards Vocus until the company provides a clear outlook at its AGM on 29 November.

Westpac Banking Corp (ASX: WBC)

Shares of Westpac have climbed more than 3.1% today after the banking giant delivered a solid full-year result. Although underlying earnings were broadly in line with market expectations, investors are clearly relieved that the final dividend was maintained at 94 cents per share and that bad and doubtful debts have remained well under control. Interestingly, Westpac has also lowered its return on equity target from 15% to 13%-14%, as a result of the tougher operating environment and higher capital requirements demanded by the banking regulator.

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Motley Fool contributor Christopher Georges owns shares of Vocus Communications Limited. 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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