It’s been a reasonably solid day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). The benchmark index looks set to make it two consecutive days of gains and is higher by almost 0.3% to 5,352 points in afternoon trade.
Four shares in particular have had even better days and look likely to send their respective shareholders into the weekend smiling. Here’s why they have rocketed higher today:
Altium Limited (ASX: ALU) shares have jumped 6% to $8.59 following its annual general meeting. During its presentation the software-as-a-service company reiterated that it is on course to achieve its US$100 million revenue goal this financial year. Furthermore, the company remains confident that it will then grow revenue to US$200 million by 2020. Thanks to the huge potential of the internet of things market, I believe the company will deliver on its promise.
iCar Asia Ltd (ASX: ICQ) shares have surged 26% to 24 cents on the back of speculation that its major shareholder Carsales.Com Ltd (ASX: CAR) will launch a takeover of the struggling company. Carsales has responded to the speculation by stating that: “it is not currently considering either a takeover bid or a selldown of its shares in iCar Asia Ltd.”
iSentia Group Ltd (ASX: ISD) shares have rebounded from yesterday’s sell off with a 10% jump to $2.62. The media intelligence company’s shares came under significant selling pressure yesterday after downgrading its full year earnings guidance. Poor strategic decisions in its content marketing segment are expected to restrict EBITDA growth to the high-single digits. Although this was a big disappointment, I think iSentia could still prove to be a good buy and hold investment.
Myer Holdings Ltd (ASX: MYR) shares are up by over 11% to $1.15 after the department store operator revealed solid first-quarter trading at its annual general meeting. Myer delivered a fifth-consecutive quarter of same store sales growth, even outpacing rival David Jones. Although it is still early days, it would appear as though the Myer turnaround plan is working.
Missed out on gains today? Don't worry these growth shares could be next in line to bolt higher if you ask me.
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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Altium. 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.