The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it two consecutive days of solid gains. In afternoon trade the benchmark index is up almost 0.6% to 5,765 points.
Four shares which have climbed more than most today are listed below. Here's why they are higher:
The Bubs Australia Ltd (ASX: BUB) share price is up 11% to 29.5 cents after the fledgling infant formula company announced that it has entered into a distribution and field marketing services agreement with Australia's leading pharmacy and healthcare distribution company HealthOne. This latest gain means the Bubs share price has climbed 44% since this time last month.
The Carsales.Com Ltd (ASX: CAR) share price has climbed 4% to $12.47 despite there being no news out of the company. Earlier this week the Australian Bureau of Statistics revealed strong vehicle sales in June across the country. It appears as though investors may be betting on Carsales having a strong finish to FY 2017.
The Clean Seas Seafood Ltd (ASX: CSS) share price has jumped 9% to 4.7 cents following the release of a sales update and guidance for FY 2018. Thanks to a solid increase in sales volumes, full-year sales revenue is expected to come in 18% higher at $35.4 million. In FY 2018 management has forecast sales growing to between $43 million and $47 million, which could arguably make it a bit of a bargain at the current share price.
The Santos Ltd (ASX: STO) share price has surged higher by 8.5% to $3.27 after the oil and gas company released its second-quarter update. Although production was down slightly, investors appear to be impressed with the way management has cut costs. Santos now has a full-year free cash flow breakeven forecast of US$33 per barrel, compared to US$47 per barrel at the beginning of 2016.
