It hasn't been a great start to the week for local investors with the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) falling 0.6% to 5,620 points.
Although a shock profit downgrade from Brambles Limited (ASX: BXB) has weighed heavily on the broader market, these four shares are still enjoying a very good day:
Ruralco Holdings Ltd (ASX: RHL)
Shares of Ruralco have spiked 7.6% today after the agribusiness company announced that is has experienced a strong start to FY17 with first quarter earnings exceeding last year's record quarter. Favourable weather conditions and a solid increase in livestock volumes were the main drivers behind the improved result and this now sets the company up for a strong full year result.
Slater & Gordon Limited (ASX: SGH)
Shares of Slater & Gordon have jumped 5.8% today after IMF Bentham Ltd (ASX: IMF) announced it would fund the embattled law firm in a proposed class action against Bellamy's Australia Ltd (ASX: BAL). The proposed class action is conditional at this stage and any investor who purchased shares in Bellamy's between 14 April 2016 to 9 December 2016 may be eligible to participate in the claim.
Somnomed Limited (ASX: SOM)
Shares of Somnomed have gained 3.9% today after the medical devices company released a positive market update. First half sales for the company's core business grew by 11.5% to $23.8 million, with unaudited EBITDA jumping over 57% to $1.4 million. Importantly, SomnoMed generated positive cash flow in the second quarter, despite investing a significant amount of capital to open and launch two new sleep centres in the U.S.
Eden Innovations Ltd (ASX: EDE)
Shares of Eden Innovations have spiked more than 8.1% today after the company announced that its EdenCrete product has been officially added to the Qualified Products List of the Georgia Department of Transport. EdenCrete is a special additive that is used to improve the performance of concrete and this approval will now pave the way for it to be used in a wider range of applications.
