In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and has sunk into the red. At the time of writing the benchmark index is down 0.1% to 6,082 points.
Four shares that have not let that hold them back are listed below. Here's why they have started the week on a high:
The Kidman Resources Ltd (ASX: KDR) share price is up 4.5% to an all-time high of $2.41. Investors continue to fight to get hold of the lithium miner's shares after it announced an offtake agreement with Tesla, Inc last week. This led to Ord Minnett slapping a buy rating and $3.20 price target on the company's shares.
The Livetiles Ltd (ASX: LVT) share price is 8% higher to 41.5 cents following the release of a positive broker note out of Citi. According to the note, the broker has initiated coverage of the technology company with a (high risk) buy rating and 56 cents price target. The broker suspects that the strategic relationship with key Microsoft sales and marketing vendor N3 could prove to be material.
The Vocus Group Ltd (ASX: VOC) share price has surged 6% higher to $2.51 after the embattled telco company announced the appointment of Kevin Russell as its group managing director and CEO. Mr Russell has worked in the telco industry for over 20 years and held executive roles at both Telstra Corporation Ltd (ASX: TLS) and Optus. He also oversaw the turnaround of Hutchison 3G UK Holdings Limited.
The WiseTech Global Ltd (ASX: WTC) share price has risen 4.5% to $14.44 after the logistics platform provider announced the issue of approximately $100 million worth of shares to a single global institutional investor. Capital Group's SmallCap World Fund picked up 7,560,153 ordinary shares at a price of $13.30 per share. Management believes that the issue will support the company's future growth and I agree. So too does the market judging by its share price rise today.
