The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and is down a disappointing 0.5% to 6,154.4 points in afternoon trade.
Four shares that have defied the market and pushed higher today are listed below. Here’s why they are climbing higher:
The BWX Ltd (ASX: BWX) share price has climbed 5% higher to $4.20 a day after Bain Capital advised that it would not be going ahead with its $6.60 takeover offer after 12 weeks of due diligence. Investors appear to believe that the personal care products company’s shares have fallen to a level that represents a good risk/reward. While I would prefer to see an improvement in its performance before buying, its shares are tempting at these levels.
The Kathmandu Holdings Ltd (ASX: KMD) share price is up 3.5% to $2.96 following the release of its full year results. At one stage the outdoor retailer’s shares were up as much as 11% before they gave back gains. In FY 2018 Kathmandu posted an 11.7% lift in sales to NZ$497.4 million and a 32% increase in net profit after tax to NZ$50.5 million. I think its shares look good value even after today’s gain.
The Regis Healthcare Ltd (ASX: REG) share price has rebounded from yesterday selloff with a 4% increase to $3.12. The aged care operator’s shares had bounced back by as much as 9% in morning trade. I suspect some investors felt that Regis’ shares had drifted into bargain territory after sinking following the announcement of a Royal Commission into the sector. I would stay clear of the sector until after the Commission.
The Updater Inc (ASX: UPD) share price has continued its solid run and is up a further 3% to $1.25. The relocation platform provider’s shares have rallied strongly in recent days following the release of a business update. According to that release, the Updater platform is expected to handle at least 3 million relocations this year in the United States, up almost 27% on 2017’s relocations.
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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. 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.