The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a horrendous start to the day but has fought back and is now 0.2% higher at 6,034 points.
Four shares climbing more than most today are listed below. Here's why they have pushed higher:
The Ansell Limited (ASX: ANN) share price is up 4.5% to $25.43 despite there being no news out of the company. Today's gain is likely to be attributable to a note out of Morgan Stanley this morning which revealed that the broker has retained its overweight rating and increased the price target on its shares to $27.64 ahead of its first-half results.
The Big Un Ltd (ASX: BIG) share price is 3% higher to $3.72 following the release of the video technology company's quarterly result. According to the release, the company achieved cash receipts from customers for the quarter of $22.5 million. This was an impressive increase of 460% from Q2 FY 2017. I continue to believe that Big Un is one of Australia's best small-cap shares.
The Sirtex Medical Limited (ASX: SRX) share price has rocketed a whopping 46% higher to $27.47 after the receipt of a takeover offer from US-based Varian Medical Systems Inc. The Sirtex board has recommended the $28.00 per share cash offer, which makes this look like a mere formality now in my opinion. Unless another bidder appears, but I think that is unlikely given the premium Varian Medical Systems is paying.
The Treasury Wine Estates Ltd (ASX: TWE) share price has climbed 1.5% to $17.25 following the release of its first-half results. The wine company reported net profit after tax growth of 37% to $187.2 million thanks largely to an impressive performance in Asia. The company's Asia segment reported EBITS growth of 48% to $117 million during the first-half. Whilst I am a big fan of Treasury Wine Estates, I would prefer to buy in at a cheaper price.
