After a shaky start to the week the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has finally found its legs and has climbed higher by 0.3% to 5,639 points.
Four shares which have caught my eye today with exceptionally strong gains are listed below. Here's why they have rocketed:
Carsales.Com Ltd (ASX: CAR) shares have jumped almost 8% to $10.83 after the owner and operator of Australia's largest vehicle sales website released its interim report. Investors appear to have turned a blind eye to the 8% drop in half-year profit and focused on management's forecast for solid net profit after tax growth for the full-year.
Cimic Group Ltd (ASX: CIM) shares have surged 9% to $39.38 after the construction company hit the top end of its guidance range by posting an 11.5% jump in net profit after tax. Although I'm not a fan of the company, I'll be the first to admit that the result was strong. Furthermore, the second half could be even stronger with management forecasting bottom line growth of up to 21% for the year.
Premier Investments Limited (ASX: PMV) shares have stormed higher by almost 12% to $14.00 after the owner and operator of retail brands including Smiggle and Just Jeans provided a market update. Due to press reports of weakness in the retail industry, management decided to update the market on its half-year expectations early. For the first half of FY 2017 the company is expected to post underlying EBIT growth of between 9.4% and 10.6%.
Specialty Fashion Group Ltd. (ASX: SFH) shares have rocketed 25% to 65 cents after the company behind brands such as Katies and Rivers confirmed that it was the subject of a takeover offer. An unnamed Middle Eastern investment company has tabled a conditional offer of 70 cents per share in cash, representing a 35% premium to the last close price.
