The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing start to the week and is down almost 0.5% to 6,248.8 points in afternoon trade.
Four shares that have not let that hold them back are listed below. Here’s why they have started the week with a bang:
The Capilano Honey Ltd (ASX: CZZ) share price has zoomed over 25% higher to $19.60. This morning the honey producer released a solid full-year result and advised that it has received a takeover offer from an entity owned by Wattle Hill RHC Fund 11 and ROC Capital. An offer of $20.06 per share cash has been made, representing a 28% premium to the last close price. Management appears supportive of the offer and will unanimously recommend it in the absence of a superior offer and if an independent expert concludes that the offer is fair and reasonable.
The Cooper Energy Ltd (ASX: COE) share price has pushed 6% higher to 49.2 cents after the energy producer released its FY 2018 results. Cooper Energy reported net profit after tax of $27 million, up from a loss of $12.3 million in FY 2017. Management has advised that the first full year of operation for its gas business has been the driver of the record result.
The Domain Holdings Australia Ltd (ASX: DHG) share price has risen almost 4% to $3.31 after the property listings company reported pro forma revenue of $357.3 million and pro forma net profit after tax of $52.9 million. This was an increase of 11.5% and 7.7% on the prior corresponding period and excludes one-off significant items.
The NIB Holdings Limited (ASX: NHF) share price has raced almost 10% higher to $6.25 after the private health insurer updated its earnings guidance. Management has upgraded its guidance for full year statutory profit to $169 million, compared to prior guidance of at least $148 million. The driver of this unexpected increase has been lower levels of claims.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Capilano Honey Limited. The Motley Fool Australia has recommended NIB Holdings Limited. 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.