It has been a bit of a mixed day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index has slipped lower and is down over 0.1% to 6,015.3 points.
Four shares that have defied the market and pushed higher are listed below. Here's why they are climbing higher today:
The Air New Zealand Limited (ASX: AIZ) share price has risen almost 3% to $2.98 following the airline's investor day. According to its investor day presentation, despite a sharp rise in fuel costs management has reaffirmed that the airline expects FY 2018 earnings before tax to be higher than in FY 2017.
The Orocobre Limited (ASX: ORE) share price has raced over 5% higher to $5.21. Today's gain appears to be related to a change of director's interest notice filed yesterday. That notice revealed that non-executive chairman Robert Hubbard has been buying shares on market this week. Mr Hubbard bought 5,000 shares for just under $25,000, lifting his holding to 70,293 shares. This may have quashed concerns that the lithium miner could be struggling with its production targets,
The Telstra Corporation Ltd (ASX: TLS) share price has pushed 3.5% higher to $2.86 after the telco giant was upgraded by Ord Minnett. According to the note, the broker has upgraded Telstra's shares to an accumulate rating with a $3.30 price target. The broker appears to believe that its investor day next week will be a positive affair and could provide catalysts to drive its share price higher.
The Webjet Limited (ASX: WEB) share price has climbed 4% higher to $13.56. This morning the online travel agent's shares were upgraded by Morgan Stanley to an equal-weight rating with an improved price target of $12.60. The broker previously had an underweight (sell) rating on Webjet's shares. I would go one further than Morgan Stanley and suggest Webjet as a buy. I think its solid long-term growth prospects make it one of the best growth shares on the ASX.
