In early afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is in a position to make it four days of gains in a row. With all sectors but the energy sector climbing higher today, the index is up 0.4% to 5,638 points.
Four shares in particular have stood out with strong gains today. Here's why their respective shares prices have jumped:
Airxpanders Inc (ASX: AXP) shares are up a massive 15% to $1.29 after the medical device company announced that it had received FDA de novo clearance for its AeroForm Tissue Expander System. AeroForm is a needle-free alternative for women that choose reconstructive surgery following a mastectomy. Management estimates the market to be worth up to US$800 million a year and the device looks set to have its commercial launch in January. A very promising development in my opinion.
Bega Cheese Ltd (ASX: BGA) shares have rallied 7% to $4.32 after the dairy company responded to yesterday's announcement from Bellamy's Australia Ltd (ASX: BAL) by stating that it was business as usual. Management reiterated that the company remains on course to deliver on the guidance it provided at its AGM in October. Bega's share price had fallen 19% since Bellamy's first business update, so it's not a surprise to see it rebound now.
Codan Limited (ASX: CDA) shares have risen 10% to $2, despite no news out of the communications equipment and metal detection manufacturer. Codan's shares have been behaving very erratically in the last week without any real explanation. But one thing that is for sure is that the company's turnaround looks to be materialising. Underlying net profit after tax is expected to be between $20 million and $22 million in the first half of FY 2017, up 76% on the prior corresponding period.
Capilano Honey Ltd (ASX: CZZ) shares are up almost 7% to $16.65 despite there being no noteworthy news out of the honey producer this month. But with its shares changing hands at 14x earnings and the company having strong growth prospects for the year ahead, I'm not surprised to see its shares being snapped up by investors today.
