In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from its early declines and is higher by 0.3% to 6,109 points.
Four shares posting stronger than average gains today are listed below. Here's why they are ending the week with a bang:
The Corporate Travel Management Ltd (ASX: CTD) share price has climbed 4.5% to $21.54 despite there being no news out of the travel company. But with its shares down over 11% from their 52-week high, I suspect bargain hunters have swooped in ahead of earnings season. I think Corporate Travel Management is still a great option even after today's move higher.
The James Hardie Industries plc (ASX: JHX) share price is up almost 6% to $23.41 following the release of its third-quarter update. According to the release, the company delivered an adjusted net operating profit of US$69.9 million for the quarter and US$205.5 million for the nine months. This was an increase of 33% and 6%, respectively, compared to the prior corresponding periods.
The Nextdc Ltd (ASX: NXT) share price has raced 8% higher to $6.20 amid speculation that the data centre operator could be a takeover target of US private equity giant Blackstone. NEXTDC's shares were given an additional boost this morning after RBC Capital increased its price target to $7.50. The broker has a conviction buy rating on its shares. Although I'm a huge fan of the company, I don't think investors should act on this speculation.
The Nufarm Limited (ASX: NUF) share price has climbed almost 3.5% to $8.32. Today's gain is likely to be attributable to a broker note out of Credit Suisse. That note revealed that its analysts have upgraded Nufarm to an outperform rating with a $9.21 price target. Credit Suisse appears to believe that the market under appreciates the long-term benefits that its transformation program can deliver.