In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has stormed higher by 0.9% to 5,595 points with all sectors in the green.
Although the majority of shares are posting gains today, five shares in particular have stood out. Here's why they have rocketed higher:
Corporate Travel Management Ltd (ASX: CTD) shares are up over 4.5% to $16.82 after the travel agent announced the acquisition of Redfern Travel in the United Kingdom and Australia-based Andrew Jones Travel. Furthermore, management updated its full year EBITDA guidance to between $92 million and $97 million. This from the guidance provided at its AGM of between $85 million to $90 million.
Galaxy Resources Limited (ASX: GXY) shares have jumped 13% to 52 cents after the lithium miner revealed its pricing agreements for 2017. The miner has agreed to sell 120,000 tonnes of lithium carbonate to its existing Chinese customers for US$905 per tonne. Design changes at its processing plant resulted in higher grade lithium oxide and better prices.
oOh!Media Ltd (ASX: OML) and APN Outdoor Group Ltd (ASX: APO) have both rocketed higher after the two outdoor advertising companies announced plans to merge. The merger is expected to deliver $20 million in synergies within the first two years, as well as a 14% increase in earnings per share. I believe the deal looks to be a great one for both sets of shareholders.
Tatts Group Limited (ASX: TTS) shares have surged higher by 9% to $4.51 after the company confirmed that a consortium led by Macquarie Group Ltd (ASX: MQG) had bid $7.3 billion for its lotteries business. Whilst the Tatts board has yet to fully assess the proposal, they continue to believe that the merger with Tabcorp Holdings Limited (ASX: TAH) is in the best interests of shareholders.
