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Why these 4 ASX shares are ending the week with a bang

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a high and is up a solid 0.8% to 5,997 points.

Four shares that are climbing more than most today are listed below. Here’s why they are ending the week with a bang:

The Accent Group Ltd (ASX: AX1) share price is up 16% to $1.03 following the release of the footwear retailer’s half-year results. Accent reported an underlying net profit of $26.3 million on sales of $350.3 million for the six months ended December 31. This was a 13% and 16.5% increase, respectively, on the prior corresponding period.

The Bellamy’s Australia Ltd (ASX: BAL) share price has jumped 7.5% to $16.03. With no news out of the infant formula company, today’s gain is likely to be attributable to a broker note out of Goldman Sachs. The broker upgraded Bellamy’s shares to a buy rating with an increased price target of $18.00 on the belief that its gross margin expansion opportunity is underappreciated by the market.

The Mayne Pharma Group Ltd (ASX: MYX) share price has climbed 6% to 74 cents. Although the pharmaceutical company posted a net loss of $174 million for the first-half, investors appear to be optimistic that it is now through the worst of its problems. Management advised that the generic drugs market has stabilised and expects a much stronger second-half.

The Nextdc Ltd (ASX: NXT) share price has rocketed 15.5% to $7.03 following the release of its half-year results. The data centre operator delivered another impressive half-year result thanks to increasing demand for its services. This led to management upgrading its full-year guidance. Furthermore, it advised that it is in advanced negotiations with several large customer opportunities which have the potential to lead to a significant increase in the company’s contracted utilisation base.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia has no position in any of the stocks mentioned. 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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