It has been a disappointing day for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down 0.7% to 5,686 points.
Four shares which have not let that hold them back are listed below. Here's why they have surged higher:
The Adairs Ltd (ASX: ADH) share price has continued its strong run and climbed a whopping 34% to $1.27. Yesterday the home wares and home furnishings retailer was given a lift when Goldman Sachs upgraded it to a buy rating. This proved to be great timing by the investment bank. This morning Adairs revealed that it has had a strong finish to the financial year and expects to hit the top of its full-year sales guidance range.
The Big Un Ltd (ASX: BIG) share price has jumped 10% to $1.29 following the release of its quarterly update. The video technology company achieved fourth-quarter cash receipts from customers of $9.4 million, up 411% from the prior corresponding period. This means full-year cash revenues of over $21.5 million, up 429% on FY 2016. As I've said a number of times before, I think these numbers show why Big Un is well worth considering as an investment.
The Resolute Mining Limited (ASX: RSG) share price is up almost 4% to $1.15 after providing the market with an update on its full-year production. In FY 2017 the gold miner produced 329,834 ounces of gold, exceeding both its original production guidance of 300,000 ounces and upgraded guidance of 325,000 ounces. This was achieved with an all-in sustaining cost of A$1,130 per ounce, compared to its original guidance of A$1,280 per ounce. The average gold price received was A$1,717 per ounce.
The Wattle Health Australia Ltd (ASX: WHA) share price has jumped 16% to 55 cents after the health and wellness food products company revealed that it has entered into a conditional agreement to acquire a 5% equity interest in Australian infant formula, nutritional products, and CNCA accredited manufacturer Blend & Pack. As a result of the agreement, Wattle Health will be given the accreditation required to sell its infant formula products into the Chinese market in stores and online from next year. I believe this makes it one to watch closely.
