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.
