In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from a soft start and is up almost 0.3% to 6,263.9 points.
Four shares that are climbing more than most today are listed below. Here’s why they started the week with a bang:
The Adairs Ltd (ASX: ADH) share price has risen 3.5% to $2.40 after the retailer posted impressive full year results which revealed a 45.4% increase in profits to $30.6 million and an 18.8% increase in sales to $314.8 million. The solid result was driven by a 14.3% increase in like for like sales, improved margins from less discounting, and strong online sales growth. Pleasingly, management has advised that Adairs has had a solid start to FY 2019 with like for like sales growth of 5.4% across its stores and online.
The Afterpay Touch Group Ltd (ASX: APT) share price has continued its stellar run and pushed a further 7.5% to $21.20. The payment solutions company’s shares have been on fire since it announced plans to enter the UK market. This led to Goldman Sachs adding the company’s shares to its conviction buy list with a lofty price target of $27.15.
The BWX Ltd (ASX: BWX) share price is up over 5% to $4.75 after releasing an update on its strategic review. According to the release, the review is well progressed and is expected be completed and announced by mid-September. So far the review has highlighted that BWX has strong organic growth opportunities. In addition to this, it advised that the Bain Consortium has completed its due diligence but requested until mid-September to complete its work. Bain has proposed a takeover of BWX at $6.60 per share.
The PWR Holdings Ltd (ASX: PWH) share price has jumped over 7% to $3.22. Last week PWR released its full year results and reported underlying profit after tax growth of 30.5% to $12.1 million. One broker that appears to have been impressed is Morgans. A note out of the broker shows that it has retained its add rating and increased the price target on its shares to $3.60.
Earlier this year, millions of Australians set alarms and watched the world's biggest sporting event, the World Cup, play out. But did you know there was another Australian representative quietly succeeding as the world watched?
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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 and has recommended BWX Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.