The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a fantastic start to the week and is up 0.7% to 6,037 points in early afternoon trade.
Four shares climbing more than most today are listed below. Here's why they have started the week with strong gains:
The Aconex Ltd (ASX: ACX) share price is up a massive 44% to $7.62 after the software-as-a-service company advised that it has received a $7.80 cash per share takeover offer from US-giant Oracle. Management recommends shareholders accept the offer, subject to the independent expert's report concluding that the scheme is in the best interests of shareholders and there being no superior proposal. I would sell at today's price and reallocate funds elsewhere.
The Kogan.com Ltd (ASX: KGN) share price is up 8% to $5.36 after announcing plans to expand into offering pet insurance next year. This complements its recent move into health insurance and further diversifies the fast-growing e-commerce company's revenue streams.
The Orocobre Limited (ASX: ORE) share price has climbed 8% to $6.35 after revealing a 25% increase in lithium prices for the June 2018 half due to tight markets and strong demand. Orecobre advised that it commanded a price of over US$11,000 per tonne for lithium during the most recent quarter. Management appears to believe that this could continue to rise in the future as demand outstrips supply.
The Resapp Health Ltd (ASX: RAP) share price has rocketed 27% to 9.2 cents after announcing further positive results from its Australian adult clinical study. The results demonstrated accurate differential diagnosis of pneumonia and acute asthma. It is early days, however, and a little too soon to invest given its past record in my opinion.
