Due largely to declines in the resources sector the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the day down over 0.4% at 6,248 points on Thursday.
Four shares that have not let that hold them back are listed below. Here’s why they are pushing higher today:
The ALS Ltd (ASX: ALQ) share price has climbed higher for a second day in a row, this time by 3.5% to $8.59. This morning analysts at Macquarie retained their outperform rating and $8.60 price target on the testing and analytical laboratory services provider’s shares following its annual general meeting yesterday. That meeting revealed that ALS expects first-half underlying profit from continuing operations to be between $85 million and $90 million.
The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has raced almost 12% higher to $2.29 despite there being no news out of the embattled asset manager. Earlier this week Macquarie Group Ltd (ASX: MQG) became a substantial holder of Blue Sky’s shares after accruing a 5% stake over the last three months.
The Myer Holdings Ltd (ASX: MYR) share price has climbed 4.5% to 50.2 cents despite there being no news out of the struggling department store operator. Some investors may be expecting the company to report a stronger than expected result in September when its releases its full-year results. As of the third quarter total year to date sales were $2,355 million, down 3.4% on the prior corresponding period and down 3% on a comparable store basis.
The Praemium Ltd (ASX: PPS) share price has rebounded from recent heavy declines with a 5% gain to 82.2 cents. The investment platform provider’s shares have come under pressure over the last couple of weeks after two rivals slashed the prices of their products. This has left investors fearing a price war and higher than normal churn levels.
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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.