The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for its second day in a row of declines and is down 0.1% to 5,746 points in afternoon trade.
Four shares that have defied the market today are listed below. Here's why they have climbed higher:
The A2 Milk Company Ltd (ASX: A2M) share price is up 5% to $12.20. Investors appear to have responded positively to the company's market release yesterday in response to media commentary about Nestle's a2 protein-only infant formula launch. Management doesn't appear concerned by the development and believes it is well-positioned to continue its growth.
The Bellamy's Australia Ltd (ASX: BAL) share price has jumped 7% higher to $21.25. Bellamy's shares were unnecessarily dragged down last week when news of the Nestle infant formula launch came to light. Investors appear to be seizing on this opportunity to pick up shares at a cheaper price today.
The NSL Consolidated Limited (ASX: NSL) share price has climbed 6% to 1.7 cents after the mining company provided an operational update. According to the release, its mining contractor's newly purchased fleet are currently being deployed ahead of commencement of full-scale mining at its iron ore operation. As a result, its plant is now on-track to produce in excess of 10,000 tonnes of iron ore concentrate in April.
The Yowie Group Ltd (ASX: YOW) share price has surged 10% higher to 11 cents after the chocolate company announced the expanded distribution of its products in the United States. According to the release, Yowie chocolates will be available for purchase by the end of May in up to 8,500 7-Eleven franchise stores and 6,000 CVS Health retail outlets across 49 states. While this is good news, the company has a record of failing to deliver on expectations. I would stay clear of Yowie until sales figures show that its chocolate is selling well in these stores.