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Why these 4 ASX shares have rocketed higher today

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed global markets lower today and in afternoon trade the index is down 1.3% to 5,710 points.

Despite the majority of the market being in the red, a number of shares have managed to climb higher today. Here’s why they have defied the market:

The Appen Ltd (ASX: APX) share price has rocketed 23% to $3.17 after the exciting tech company upgraded its full-year guidance. Increasing demand for its high quality data for machine learning-based product development means management expects annual EBITDA growth of between 40% and 50%. Previous guidance was for mid to high teen growth. Even after its surge today, I think Appen could be a great buy and hold investment.

The Fairfax Media Limited (ASX: FXJ) share price is up almost 7% to $1.24 after a new suitor emerged. Hellman & Friedman LLC has launched a takeover offer of between $1.225 and $1.25 per share in cash, outbidding the TPG Group consortium. Shareholders will no doubt hope that this is the start of a bidding war.

The Impedimed Limited (ASX: IPD) share price has surged 34% to 72.5 cents after the medical technology company released the results of its L-Dex study. According to the release 596 patients using its L-Dex product demonstrated extremely low rates of chronic, clinically significant breast cancer related lymphoedema.

The Perseus Mining Limited (ASX: PRU) share price has jumped 2.5% to 31.2 cents following a rise in the gold price. With global markets sinking lower amid the Trump-Comey controversy, investors have taken flight to safe havens. This led to the spot gold price climbing to a two-week high of US$1,261 an ounce.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd. 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.

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