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.
These 3 stocks could be the next big movers in 2020
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Treasury Wine Estates Limited. 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.
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