Although it has given back some of its early gains, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is higher by 0.4% to 5,672 points.
Four shares in particular have stood out with strong gains today. Here's why their respective share prices have stormed higher:
Audio Pixels Holdings Ltd (ASX: AKP) shares are up 12% to $13.70 after the digital speaker developer provided an update on its loudspeaker chip. The company appears to have moved on from last month's setback which wiped off a third of its market value. Management advised that its fabrication partner reached a critical milestone with the initial delivery of half structure MEMS devices that fully adhere to prescribed specifications. A positive step, but still too early for an investment in my opinion.
Primary Health Care Limited (ASX: PRY) shares have jumped almost 5% to $3.92 despite there being no news out of the healthcare company. I suspect today's gain is the result of bargain hunters swooping in following a sell-off of its shares after the resignation of its CEO Peter Gregg. He left Primary Health Care last week after being charged with allegedly falsifying the books during his time with another company.
ResMed Inc. (CHESS) (ASX: RMD) shares have climbed higher for a second day in a row, this time by 3.5% to $9.24. Investors have been fighting to get hold of the sleep treatment company's shares since it announced a strong quarterly result yesterday. I was impressed with ResMed's performance and believe it goes some way to demonstrating why the company could be a fantastic buy and hold investment.
Tassal Group Limited (ASX: TGR) shares are up 8% to $4.60 despite there being no news out of the salmon farmer. Today's gain could be related to a recent report in the Financial Times which forecast unusually high salmon prices in 2017. This is due to the widespread contamination of sea lice off the coast of Chile which feast on salmon. I thought Tassal was a great buy prior to this news, but this could make it even more attractive now.
