It has been another strong day for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). Thanks to gains in the telco sector the index is up 0.2% to 6,364 points in afternoon trade.
Four shares that are performing better than most today are listed below. Here’s why they are climbing higher today:
The MotorCycle Holdings Ltd (ASX: MTO) share price has risen over 6% to $3.40 after the motorcycle dealership group released its full year results after the market close on Wednesday. Thanks to the acquisition of the Cassons business and the expansion of its dealership network, MotorCycle Holdings posted a 36% increase in underlying EBITDA to $19.8 million. However, underlying NPAT fell 2% to $9.1 million due to the impact of acquisition costs.
The Noni B Limited (ASX: NBL) share price has jumped 8% to $3.36 a day after the release of its full year results. The initial reaction to Noni B’s results on Wednesday was rather subdued, but investors have been fighting to get hold of its shares today. The catalyst for this may be a broker note out of Morgans which revealed that its analysts have retained their add rating and increased the price target on the retailer’s shares to $3.94.
The Speedcast International Ltd (ASX: SDA) share price has rebounded almost 6% higher to $4.20. News that three of the company’s directors have been buying shares on-market over the last 24 hours appears to have been the driver of this gain. Prior to today Speedcast’s shares were down over 40% this week after its shares were sold off due to management cutting its full year guidance.
The TPG Telecom Ltd (ASX: TPM) share price has rocketed over 15% higher to $9.08 after it came to an agreement with Vodafone Australia over a planned merger. The shares of Hutchison Telecommunications (Aus) Ltd (ASX: HTA) have surged a remarkable 48% today on the back of this news.
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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 TPG Telecom 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.