The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has rebounded strongly from yesterday's selloff and finds itself almost 0.9% higher to 6,270.5 points in afternoon trade.
Four shares climbing more than most today are listed below. Here's why they are surging higher:
The InvoCare Limited (ASX: IVC) share price has pushed 4.5% higher to $14.51 after the funerals company announced yet another acquisition. InvoCare has entered into a conditional sales agreement to acquire the business and assets of Archer & Sons Funeral Homes based in the south west region of Western Australia. It expects the proposed acquisition to complete on July 20.
The Nearmap Ltd (ASX: NEA) share price has continued its solid run and is up a further 5% to $1.47. The geospatial map technology company's shares have been on fire since the release of its preliminary full-year results this week. Investors appear to have been impressed with the growth of its U.S. business. Despite its strong gain this week I think Nearmap could be worth a closer look given the size of the U.S. market opportunity.
The Praemium Ltd (ASX: PPS) share price has surged 10.5% higher to 95 cents after the fintech company released a funds under administration update. According to the release, Praemium has achieved record annual gross inflows of $3 billion in FY 2018, 50% higher than the prior financial year. This means that its funds under administration climbed 35% on last year to $8.3 billion. Key client wins including Morgan Stanley Wealth Management, Mashreq Bank, and CMC Markets have been drivers of this impressive growth.
The Sonic Healthcare Limited (ASX: SHL) share price is up almost 6% to $26.55 after being the subject of a broker note out of Citi. The broker has taken its sell rating off the healthcare company and upgraded it to neutral following a change of analyst. The broker also lifted its price target from $21.75 to $26.00.
