In early afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has just managed to keep its head above water and is higher by 0.1% to 5,737 points.
Although the market as a whole is finding gains hard to come by, five shares in particular aren’t. Here’s why their respective share prices have rocketed today:
Alexium International Group Ltd (ASX: AJX) shares are up 9% to 66.5 cents after the company signed an agreement with New York-based Pegasus Home Fashions worth an initial US$10 million. Alexium will supply Pegasus with its Alexicool chemistry for the bedding pillows market across the USA. Up to 6,500 U.S. retailers are expected to stock the new Pegasus Cool-Touch pillows.
Bubs Australia Ltd (ASX: BUB) shares have continued to rocket higher, this time by a staggering 63% to 22 cents. The shares of this infant formula and baby food manufacturer have now more than doubled since listing on the ASX at 10 cents yesterday. I like the look of Bubs, but at the current price there is now an awful lot of growth baked into it. Definitely one to keep a close eye on.
TPG Telecom Ltd (ASX: TPM) shares have climbed over 3% to $7.07 despite there being no news out of the telco company. At just 16x estimated FY 2017’s earnings TPG Telecom looks to be a bargain buy in my eyes, so I’m not at all surprised to see investors grab hold of its shares. The same can be said for Vocus Communications Limited (ASX: VOC) which has also seen its share price edge higher today.
SmartTrans Holdings Limited (ASX: SMA) shares have surged 33% to 1.6 cents after the software company announced a formal agreement with Shanghai Stock Exchange-listed digital marketing agency Shanghai Dodoca. Later this month the two companies will launch a Chinese e-commerce platform on WeChat for Australian products. Dodoca will build and market the platform and SmartTrans will handle the billing and payments.
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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.