In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and is in the red once again. At the time of writing the benchmark index is down 0.15% to 6,084 points.
Four shares that have defied the market and pushed higher are listed below. Here’s why they are ending the week with a bang:
The Codan Limited (ASX: CDA) share price has jumped 7% to $2.94 after announcing a $9.5 million deal between its Minetec business and mining behemoth BHP Billiton Limited (ASX: BHP). Minetec will supply its Fleet Management System to BHP’s Olympic Dam mine. As a result, full year underlying net profit after tax is now expected to be in the region of $38 million in FY 2018. I think Codan still looks to be good value despite its strong rise over the last 12 months.
The CSL Limited (ASX: CSL) share price has climbed 4% to $182.60 after the biotherapeutics company upgraded its full-year earnings guidance. Thanks to the strong performance of its core business and a severe northern hemisphere influenza season, CSL now expects full-year net profit after tax in the range of US$1,680 to US$1,710 million, compared to previous guidance of US$1,550 to US$1,600 million.
The Smart Parking Ltd (ASX: SPZ) share price has rebounded almost 33% to 34.5 cents after providing clarity on the sudden termination of both its UK managing director and UK finance director. The company advised that the two directors “were not operating in good faith and there was evidence they had breached a number of their employment conditions, including in relation to their entitlements and the amount of time they were spending in the business.” Smart Parking’s shares halved in value yesterday when it was first announced.
The Xanadu Mines Ltd (ASX: XAM) share price has stormed 12% higher to 23.5 cents after the copper and gold exploration company experienced significant insider buying. No less than three of the company’s directors have been buying Xanadu Mines’ shares this week through on-market trades.
One of the world’s richest people is sounding the alarm on what could be a trillion-dollar technology.
And when a tech billionaire – several times over – speaks, it pays to listen.
This could be your chance to get in on the ground floor!
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.