After a strong start the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has faded and in afternoon trade is down 0.1% to 6,008 points. If it finishes this way it will mean four consecutive days of declines.
Despite this, four shares have been able to post notably strong gains today. Here’s why:
The A2 Milk Company Ltd (ASX: A2M) share price has climbed 3% to $7.76. Yesterday the fast-growing dairy company was given a boost after analysts at Macquarie tipped its shares to reached $8.29. The broker has retained its outperform rating on a2 Milk’s shares following its decision to launch into the north east of the United States. I agree with Macquarie and believe a2 Milk is a buy.
The Flight Centre Travel Group Ltd (ASX: FLT) share price is up 5% to $49.15 following the release of a positive broker note out of UBS. According to the note, the broker has upgraded the travel agent to a buy rating with a $53.60 price target. Its analysts are confident that Flight Centre can achieve its three-to-five-year pre-tax profit targets.
The OceanaGold Corporation (ASX: OGC) share price has stormed almost 5% higher to $3.38 despite the majority of the gold miners sinking into the red. After the market closed on Thursday OceanaGold announced record full-year production of 574,606 ounces at an unaudited all-in sustaining cost of US$617 per ounce. This was a 38% lift in production and a 13% reduction in costs.
The Speedcast International Ltd (ASX: SDA) share price is almost 3% higher to $5.46. This morning the remote communication and IT solutions provider announced that it has been selected by Noble Corporation to provide new IT communications equipment and fully-managed connectivity services to its global drilling fleet. No financial details were given, but this does appear to be a big win for the company.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group Limited. The Motley Fool Australia owns shares of A2 Milk. 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.