Why these 4 ASX shares climbed higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and is down 0.4% to 5,805 points.

Four shares that haven’t let that hold them back are listed below. Here’s why they have climbed higher:

The Bellamy’s Australia Ltd (ASX: BAL) share price has pushed almost 6% higher to $21.62 despite there being no news out of the infant formula company. I suspect that some investors may be speculating that Bellamy’s could be granted its CFDA accreditation shortly and are buying up shares in anticipation of this. Alternatively, it could be in relation to positive sales data out of its industry rival listed directly below.

The Bubs Australia Ltd (ASX: BUB) share price has stormed 9% higher to 83 cents after the release of its latest quarterly update. The goats milk infant formula and baby food company reported third-quarter sales of $5.178 million, up 422% on the prior corresponding period and 180% on the second-quarter. Management advised that this strong quarterly growth was driven by a 63% increase in infant formula sales and the first full quarter of trading from its NuLac Foods business.

The Healthscope Ltd (ASX: HSO) share price has pushed 3% higher to $1.95 amid speculation that it could be a takeover target. According to The Australian, private equity firms BGH Capital and Bain Capital are believed to be interested in launching a takeover of the private hospital operator. There has been no word out of Healthscope or either of the private equity firms yet, so investors may want to take this latest speculation with a pinch of salt for the time being.

The HT&E Ltd (ASX: HT1) share price has jumped over 12% to $2.11 after it emerged that it received and subsequently rejected a takeover offer from oOh!Media Ltd (ASX: OML) for its Adshel business. No financial terms were revealed, but the board determined that the offer did not adequately reflect the value of Adshel to HT&E shareholders. Management also confirmed that it is on course to beat current analyst 2018 EBITDA consensus estimates of between $113 million and $114 million.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Scott Phillips.

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